Given the positive final quarter of 2019, the central Gold Coast area is anticipated to remain fairly buoyant throughout the first half of 2020, according to a recent Herron Todd White (HTW) residential report.
The valuation firm ask their valuers to give an educated outlook on the residential market in their service areas.
The report notes sales activity spiked during September and October 2019 and local agents have reported that good levels of demand continued throughout holiday period for a broad range of property.
The stable market conditions in the Sydney and Melbourne property markets along with the low interest rate environment and easing of lending policy has given confidence to local buyers, particularly those seeking to purchase property priced in the higher price brackets.
“Burleigh Heads and Burleigh Waters remain hot spots, however more recently we have noticed good sales activity in the suburbs of Miami and in Sorrento (Bundall),” the valuation firm said.
A two bedroom beach styled dimples in Miami has recently been sold for $670,000.
Situated at 2/10 Cantwell Court (pictured below), it comes renovated bath and kitchen, indoor and outdoor living space and backyard.
Set on a 372sqm block, the house is only 900m away from Miami beach.
The report notes it will be interesting to see how property will perform within the Isle of Capri (Surfers Paradise) over the year.
The Isle of Capri is regarded as one of the preferred residential waterfront areas within the established areas of the central Gold Coast, being within close proximity to the Surfers Paradise CBD.
A fairly large infrastructure project (road bridge upgrade) has commenced which aims to improve traffic flow through the locality (to and from the CBD area). The expected completion of the project according to local council is mid 2021.
In the meantime, residents are likely to be disrupted by the project due to increased traffic congestion caused by the ongoing road works.
“We will wait to see if the project has any significant impact on property sales in this pocket,” the valuation firm stated.
A waterfront house in Isle of Capri was sold for $4.5 million in January.
The four bedroom, three bathroom house is situated at 25 The Corso (pictured below).
The home comes with indoor and outdoor living space, swimming pool, open plan gourmet kitchen and four car garage.
The unit market may experience slightly tougher conditions in 2020 compared with 2019, according to the HTW residential report. This market (particularly within Surfers Paradise and Broadbeach) is heavily reliant on investors from interstate and overseas.
With a good volume of new unit stock introduced in 2019 and more high density projects due to be completed this year on the central Gold Coast, there is some concern about a potential oversupply in this area.
“On a more positive note, general feedback from local real estate agencies suggests that demand for rental properties has remained firm and rental values are trending upwards,” the valuation firm said.
This article is republished from www.propertyobserver.com.au under a Creative Commons license. Read the original article.
Builder appointed for new luxury Gold Coast development The Monaco
Gold Coast-based developer Ignite Projects have appointed McNab Construction to build their 25 level Main Beach project, The Monaco.
The Monaco at 2-4 MacArthur Parade will home 25 half and full-floor residences, adjacent to the Southport Marina.
Designed by Rothelowman, the new tower will feature the Southern Hemisphere’s first car elevator to apartments, sky garage and a custom-designed kitchens for each buyer.
Apartments in the Monaco will offer up to 362 sqm of living space, a communal 24-metre heated pool and an additional multi-purpose space, as well as the sky cave.
One whole floor of the Monaco has been dedicated to private storage space.
“McNab has a brilliant track record for delivering projects that exceed all expectations in terms of quality and deliverables, so they are a good fit for our project team,” Ignite Projects’ Josh Foote said.
Construction is expected to take 20 months to complete and will begin around mid-next year.
The project is expected to support over 200 construction jobs a day during peak times, McNab Construction manager Mark Jewell said.
The post “Builder appointed for new luxury Gold Coast development The Monaco” appeared first on the propertyobserver.com.au Blog
Elysian Broadbeach finishes construction, selling final apartments
The luxury Broadbeach tower Elysian has finished its construction and has released the remaining apartments for sale.
The Spyre Group’s Broadbeach development sold 85 percent of its stock and has released only 10 apartments remaining, a mix of two, three, and four-bedroom units.
Elysian at 185 Old Burleigh Road has 61 apartments across its 21 levels.
Prices start at $785,000 for a two-bedroom apartment or from $1.5 million for a three-bedroom.
Designed by ML Architecture and Boyds Bay Group, Elysian’s amenities include a swimming pool, yoga terrace, sauna room, and gym.
Just 70 meters from the beach, the rare beachfront offering enjoys 180-degree views of the expansive ocean, city, and Gold Coast hinterland.
Its features include open-plan living and dining, balconies, floor-to-ceiling windows, and timber flooring.
CBRE Gold Coast is marketing the project.
The post “Elysian Broadbeach finishes construction, selling final apartments” by Joel Robinson appeared first on the propertyobserver.com.au Blog
Gold Coast set for Australia’s first Mondrian brand residences and five-star hotel
The boutique US hotel operator Mondrian has announced it will open its first five-star hotel and brand residence in Australia at Burleigh Heads on the Gold Coast.
Mondrian, a partnership between SBE Entertainment and hospitality giant Accor, has engaged the local developer Vitale Project to construct the two tower development which is slated for completion in mid-2023.
The two towers, designed by the multi-award-winning architect Elenberg Fraser, will separate the 89 private residences from the hotel, which will have 208 guest rooms.
Studio Carter, the international hospitality design consultant, was commissioned to oversee the interior design.
The building will be connected by a three-level podium that acts as the building’s communal space and will home a state-of-the-art fitness center, spa, restaurants, and swimming pools, all overlooking the beach.
It’s being built on 4,035 sqm on the corner of First Avenue and The Esplanade Burleigh Heads.
Mondrian Gold Coast is one of nine new Mondrian properties that SBE plans to open globally by 2022, with six more to be announced.
It follows the company’s recent opening of Mondrian Seoul Itaewon, and the announcement of Mondrian Shoreditch London set to open in 2021.
“The Gold Coast has grown into one of Australia’s leading travel destinations and the opening of Mondrian Gold Coast is the next step in our strategic global expansion for the Mondrian brand, selecting communities at the heart of the most exciting cultural destinations in the world,” SBE’s chief operating officer Chadi Farhat said.
Accor Pacific chief executive Simon McGrath said the expansion of the first-ever Mondrian into Australia reflects Accor’s commitment to developing innovative, lifestyle-oriented hotels alongside SBE.
“With the Mondrian brand, SBE creates destinations within the destination, bringing together regional authenticity with sophisticated design, creative programming, and a lively bar and restaurant scene.
“Mondrian Gold Coast will be the embodiment of this philosophy: providing residents and guests with elevated hospitality experiences that match the beauty and vibrancy of Australia’s Gold Coast region.”
LGC Property Investments, directed by Chris and Letitia Vitale, paid $22 million for the site, which currently houses the 1960s apartment block White Horses Apartment, in July.
There had been an agreement in place for the Brisbane-based Neilson Properties to buy the site in 2018, but that failed to proceed.
The White Horse Apartment owners had been in court battles for a number of years trying to band together to sell their combined 49 apartments.
But because it was a company titled block, they needed 100 percent of the vote to approve a sale, however, six owners resisted.
The post “Gold Coast set for Australia’s first Mondrian brand residences and five-star hotel” by Joel Robinson appeared first on the propertyobserver.com.au Blog
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