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$4M Valley Upgrade fast-tracked

Lord Mayor Graham Quirk has announced that Brisbane City Council will fast track a much needed $4 million upgrade of the Brunswick Street Mall in a bid to help struggling Valley retailers.

Brisbane Investor,Property Management, Real Estate Brisbane, Mortgage Broker Brisbane, Brisbane property market, housing sales, Housing market

The Lord Mayor said his 2012 election commitment, which will give the Valley’s ageing Mall a much-needed facelift, was not due for completion until 2015/16 however was now likely to commence as early as January 2014.

In a public statement, Quirk reaffirmed that fast-tracking $2.5 million to allow the Mall to be completed in 2014 would build upon recent momentum in the city’s entertainment heart which has seen a wave of new venues open. In spite of the recent activity, retailers in the Brunswick Street Mall have continued to struggle.

“The Valley is one of our most iconic entertainment and dining areas but it has clearly struggled during the day and I believe fast-tracking our $4 million upgrade of the Mall will help give it the economic boost it needs,” Cr Quirk said.

“This is also about planning for the future, including the new jobs and residents that will come from the 23 large commercial and residential projects currently underway in the Valley.

Cr Quirk said it was also important Brisbane’s popular attractions were ready to sell themselves to the world when thousands of delegates, support staff and media travel to Brisbane for next year’s G20 meeting, and the Valley was no exception.

“These visitors will need somewhere to shop, eat and play during their stay and fast-tracking our upgrade of the Mall aims to ensure the Valley’s traders are primed to share in the lucrative investment G20 will deliver for our local economy,” Cr Quirk said.

Key features of the $4 million Valley Mall refurbishment will include:

• Replacing the current brick paver surface with patterned concrete that is easier to clean and reduces trip hazards
• Installing a large wire roof structure, which could support lighting and public art and provide shelter and shade
• Installing small retail and art pods in the centre of the Mall

 

Original article published at www.urbandeveloper.com  28/10/2013

Brisbane

Charter Hall leads the charge with $560m industrial deals

Charter Hall

Funds management and development juggernaut Charter Hall has swooped on $560 million worth of industrial properties as it builds its pipeline to service the explosive growth in the ecommerce, data and cold storage sectors.

Defying the pandemic-hit market conditions, it has acquired and settled 17 assets which have lucrative high-quality tenant covenants, with long lease terms ranging up to 16.9 years and located in large industrial precincts with proximity to major infrastructure and metropolitan areas.

Further boosting its $16 billion pipeline, Charter Hall has purchased a number of development sites that come with surplus land for expansion and development. The group has forecast the industrial portfolio will grow beyond $20 billion.

Charter Hall is an ASX-listed $7.75 billion diversified manager that specialises in assets with long leases across the traditional sectors of office, retail and industrial as well as fast-moving consumer foods, pubs, healthcare and childcare.

Charter Hall chief executive David Harrison said the acquisitions build on the group’s strong momentum in acquiring high-quality industrial assets in prime locations across Australia.

“We continue to lead the Australian market in deal volume, and our ability to secure high-quality assets off-market continues to deliver long-term value for the business and superior outcomes for our capital partners and investors,” Mr Harrison said.

Major tenant customers secured with the latest acquisitions include Australia Post, Toll, Border Express, Cleanaway, Zirconia (Iron Mountain) and state government agencies. One large site is the distribution centre in Lytton, Brisbane leased by Kmart.

Charter Hall industrial and logistics chief executive Richard Stacker said with a further $3 billion of investment capacity together with a captive development pipeline, “we would expect our $16 billion industrial portfolio to grow beyond $20 billion over coming years.”

The deals reflect how the country’s commercial property sales moved up a gear in the second quarter, with the industrial sector posting the strongest ever quarterly deal flow, the latest Australia Capital Trends report from Real Capital Analytics (RCA) shows.

Benjamin Martin-Henry, RCA’s head of analytics, Pacific, said quarterly sales of industrial stock outpaced offices and retail properties combined for only the second time since the start of 2020, having never achieved this feat in the previous two decades.

“This record was despite a relatively quiet first quarter for the industrial market. With a hefty deal pipeline of around $2 billion of industrial deals awaiting settlement, 2021 is highly likely to be a record-breaking year for the sector,” Mr Martin-Henry said.

Commercial property sales worth $13.4 billion were closed over the second quarter, up 15 per cent on the same period last year. For the first six months of 2021, volumes reached $21.2 billion, up 11 per cent compared to the same period in 2020.

Together with the Charter Hall deals, Blackstone completed the sale of the Milestone Industrial Portfolio to GIC and ESR for $3.8 billion, while LOGOS, together with partners Australian Super, Ivanhoe Cambridge, TCorp and AXA IM Alts, bought Australia’s largest intermodal logistics facility – Moorebank Logistics Park (MLP) in Sydney – for $1.67 billion from Qube.

 

Article Source: www.brisbanetimes.com.au

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Developments

Southport, Gold Coast apartment development site sells for $6 million

Southport

Sales activity for high-density-zoned development sites in Southport had been relatively subdued compared to the rest of the Gold Coast market

A Southport, Gold Coast development site – once planned for a 47-level tower – has sold at auction for $6 million.

It was bought by an undisclosed Gold Coast investor.

The 2430sq m site is at 114 Scarborough St, on the corner of Hicks St.

The receivers listing was sold by Colliers International who had five bidders compete.

It fetched above price expectations.

“Sales activity for high-density-zoned development sites in Southport has been relatively subdued this year compared to the rest of the Gold Coast market,” agent Steven King said.

“While sites in southern beachside markets continue to attract record prices, this sale demonstrates that Southport has begun its development site rebound,” he told the local paper.

The vacant site is within Southport’s designated Priority Development Area.

It was reported that a NSW-based company and Chinese investors had previously planned a 47-level apartment/hotel tower.

The DA approval was for a 47 level tower comprising of a 225 bed hotel and 264 (1, 2 and 3 bed) apartments

The site had cost $7.65 million, The Gold Coast Bulletin reported.

The site borders the Gold Coast City Council’s recently proposed “Towers Of Power” government and court precinct, a proposed $300 million development.

 

Article Source: www.urban.com.au

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Developments

Mosaic Property Group lodge next Gold Coast apartment development after double Mermaid Beach sell-out

Mosaic Property

Mosaic Property boss Brook Monahan says the development will set a new benchmark of luxury living for an upmarket boutique building

The South East Queensland developer Mosaic Property Group are set for their next development on the Gold Coast.

It’s going to be their most boutique offering yet, with just nine whole floor apartments planned for the Burleigh Heads dress circle The Esplanade.

It will be located just up the road from their successful 47 apartment development Grace by Mosaic, which sold out in just a few months late last year.

The new apartments at 42 The Esplanade, dubbed The Heads in the submission to the Gold Coast City Council, will be designed by the architecture firm bureau^proberts and will replace the current brick apartment block built over five decades ago.

Mosaic Property boss Brook Monahan says the development will set a new benchmark of luxury living for an upmarket boutique building in Burleigh Heads.

“This is a genuinely world-class, one-of-a-kind address,” Monahan told Urban.

“We are pleased to have the opportunity to create another outstanding address in Burleigh Heads, following the success of our first Burleigh project, Grace by Mosaic, which sold out in a matter of months.

“Our primary goal with 42 The Esplanade is to make it the most desirable, exclusive, and in-demand place to live on the entire beachfront in Burleigh.

Monahan says the the design draws on the areas’ natural beauty.

“The composition boasts honest materiality and elegant form,” Monahan says. It is singular in its execution while remaining authentic within the local context.”

In the design statement, bureau^proberts say the architectural design has a strong focus on subtropical building form, with a lightweight and breathable façade, lush green landscaping that continues from the ground level up and around the building, and an organic floor plate that pays homage to the undulating Burleigh headland.

Mosaic Property

Source: Excerpt from Architectural Plans prepared by bureau^proberts. 

Mosaic are already fielding enquiry from their VIP, pre-launch access list.

The Heads will feature a ground level pool, dining and lounge area. The apartments start on the ground level, the first complete with a large 130 sqm terrace with outdoor kitchen and landscaping.

Each apartment above will have balconies over 35 sqm.

Mosaic double-down in areas where they’ve seen great success. They had the same idea in the exclusive Mermaid Beach area, further north on the Gold Coast

After seeing success at Bela, Mosaic bought a site a few doors down on Peerless Avenue and created Dawn, which secured 95 per cent of its sales within its first two weeks of its pre-release to their database.

Development overview:

9 storey built form;

• 9 x 3-bedroom dwelling units;

• Two (2) levels of basement car parking with 29 resident spaces and 3 visitor spaces;

• Ample on-site landscaping and deep planting areas sufficient to contain large shade trees and balance the built form elements;

• Generous communal open space on the ground level and large private balconies for each apartment oriented to the beach;

• Pedestrian access directly off The Esplanade frontage; • Vehicle access to First Avenue via the adjoining development site, 4 First Avenue;

• Highly articulated building envelope with large boundary setbacks and separation to maintain residential amenity and privacy;

• Subtropical architectural design focused on enhancing the character of Burleigh Heads

Design statement

The site at 42 The Esplanade gives new opportunity to acknowledge Burleigh’s beachfront appeal. The tower’s form is sensitive to its site and neighbourhood by responding to the existing Norfolk Pine trees, key aspect views and privacy requirements from its neighbours. The 9, single floor, vertically stacked coastal homes achieve stunning beachfront and headland views by opening the living areas out to the east, with the master bedroom placed prominently to give the residents an unrivalled northern aspect. The glazed envelope is protected down each side with horizontal batten screens which rhythmically move in and out as they rise up the building.

The slab edges move and fold around the building, reaching out to connect its inhabitants with the Esplanades’ parkland, then cutting in to open up views and angle breezes through the interior spaces. The movement of the floor plate is an homage to the undulating outcrops of the nearby headland.

Landscape is employed at the ground level to interact with the street and give space to the existing Norfolk Pine which has been previous been constrained on all edges. This allowance of space is replicated up the building with the southeast corners being cut back to give the tree its breathing space. Vegetation is continued up and around the building, creeping through the screens and with time, will drape and soften the building edges and contribute to the visual and micro-climatic coolth around the tower. As response to the beachfront climate, large outdoor living areas reduce the reliance on indoor conditioning. Breezes are mapped such that openings across and through the plan allow for effective cross ventilation of the interior

 

Article Source: www.urban.com.au

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