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Commercial Market Update – Gold Coast Cityscope January 2021

The latest research from Gold Coast Cityscope shows property sale figures have increased over the past three months. Sales recorded in the three months to December 2020 recorded 41 sales for a total of $95.2 million. Of this, $54.3 million was for commercial, $13.7 million was for commercial strata, $6 million was for retail, $14.9 million was for retail strata and $6.2 million was for other.

In comparison, the three months to September 2020 recorded 19 sales for a total of $59.4 million. Of this, $3.8 million was for commercial, $3.6 million was for commercial strata, $9.3 million was for retail, $1.5 million was for retail strata and $41.2 million was for other.

The latest data raises the 12-month total to over $340.7 million, over $200.4 million less than the previous 12-month period.

The table below shows sales recorded for the past eight updates of Gold Coast Cityscope:

Commercial Market Update

The most significant sales recorded this quarter together totalled over $54.63 million.

Acuity Business Park Building 1 was sold off-market for just over $41.29 million to 209 Robina Pty Ltd as trustee for the 209 Robina Trust. The four-storey building comprises 5,937 sqm of space and was completed in mid-2020; tenants include Metricon, Medrecruit and Intrapac Property. Mike Walsh and Peter Court of Cushman & Wakefield Gold Coast negotiated the sale, which represents an initial yield of 6.5% on passing income of $2,684,303.96.

The entire 1,510 sqm third floor of Eastside Robina, plus a 27 sqm cafe on the ground floor have been purchased for just over $7.234 million by Agroha Dham Pty Ltd as trustee for the KL Eastside Unit Trust. Steven King and Tony Wang Colliers International and Mark Witheriff of CBRE Gold Coast negotiated the sale, which represented an initial yield of 9.75% on a passing income of $705,000 (net).

Eleven units at 38 Cavill Avenue were purchased together for $6.1 million by Cavill Avenue Holdings Pty Ltd as trustee for BM Coast Holdings Trust. Steven King and James Crawford of Colliers International Gold Coast negotiated the sale. The units, comprising lots 1 to 11, were advertised with a net income of $405,155, which represents an initial yield of 6.64% on a passing income of $405,155 (net).

Commercial Market Update

Properties currently listed for sale include:

  • Surfers Paradise Beach Units – six storeys with 16 one and two-bedroom holiday units (6 one-bedroom; 10 two-bedroom) above ground floor parking. Scheduled for auction January 21, 2021; agent, Amir Prestige Property Agents (Matthew Biviano).
  • 21-27 Davenport Street, Southport – a two-storey, 490 sqm retail and office building. For sale with an asking price of $980,000; agent, Raine & Horne Commercial Gold Coast. The property was advertised with a gross income of $118,000.
  • 25 Griffith Street, Coolangatta – a two-storey building with a ground floor retail shop and a three-bedroom, two-bathroom residence upstairs. Building area, 348 sqm. The property includes a swimming pool and two-car garage to the rear. For sale with an asking price of $2.9 million; agent, Tsimos Commercial Real Estate (John Black).

Properties currently under contract (conditionally or unconditionally) include:

  • 1 Paddington Place, Robina, a 4,040 sqm vacant site. Under contract unconditionally with an extended settlement period expected; agent, Colliers International Gold Coast (James Crawford).
  • 6 Short Street, Southport – a two-storey, 811 sqm office building with basement car parking for 16 vehicles. Under contract; agent, Colliers International Gold Coast (Steven King). The property was advertised with a net income of around $99,358 per annum.
  • 44 Thomas Drive, Chevron Island – a two-storey, 281 sqm retail/office building with frontages to Thomas Drive and Karloo Street. Under contract in with settlement expected January 2021; agent, Raine & Horne Commercial Gold Coast (David Task and Michael Parisi). The property was advertised with a fully leased gross income of $172,932.72.

 

Article Source: www.corelogic.com.au

 

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Developments

Why downsizers and owner-occupiers have descended on Aniko Group’s No.1 Grant Avenue on Hope Island

aniko

Aniko Group, led by managing director George Mastrocostas, have fast-tracked construction for stage two of their $140 million No.1 Grant Avenue project, having secured more than 70 per cent of sales

The Broadbeach-based development firm Aniko Group has unveiled further plans for its grand Hope Island community on the Gold Coast.

Aniko Group, led by managing director George Mastrocostas, have fast-tracked construction for stage two of their $140 million No.1 Grant Avenue project, having secured more than 70 per cent of sales across the project.

Stage two of the development will feature 105 two, two plus study and three-bedroom apartments with a range of bridge free marina berths available along the Hope Island canal. Aniko also responded to the COVID-19 pandemic by creating a “post-pandemic” office precinct for those wanting to work remotely.

Fitness guru Michelle Bridges is designing the health club as part of the second stage, where they will also be a children’s play centre, theatre, residents lounge and outdoor cooking and dining facilities.

Mastrocostas said that the rapid sell-out of stage one gave them the confidence to fast-track the launch of stage two.

“To have achieved such exceptional sales and demand for our projects during a year that was filled with a lot of uncertainty is a testament to the quality offering we have brought to market,” said Mr Mastrocostas.

“The market has remained exceptionally strong during Covid and buyers who missed out on securing an apartment in stage one have already purchased within stage two.”

Part of the precinct will be No.35 Grant Avenue, with its apartments inspired by designs from New York.

The downsizer and owner-occupier market have been particularly interested in the development which allows them to downsize while still remaining in the area.

“There’s no doubt that the Gold Coast is one of the hotspots for residential property and with great lending conditions we are certainly seeing buyers transitioning into their next investment journey whether it is as an owner occupier or investor.”

“With the recent border re-openings, we expect to see an increasing number of southern buyers purchasing in the project and we look forward to meeting the buyers who purchased in stage one, sight unseen, who haven’t been able to see their apartments until now.”

 

Article Source: www.urban.com.au

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Developments

Eight reasons Palm Beach apartment development Cabana should be on your shortlist

Cabana

Ignite Projects are behind Cabana at 1 Nineteenth Avenue. They had Plus Architecture design the luxury tower.

Cabana, the new luxury development at Palm Beach, has seen soaring levels of interest since its launch just a few months ago.

And the sale of 23 of its 34 apartments, secured within two weeks of the project hitting the market, has seen construction of the six level absolute beachfront block fast-tracked. Construction will now begin in June, with a late 2022 completion date.

Ignite Projects are behind Cabana at 1 Nineteenth Avenue. They had Plus Architecture design the luxury tower.

Urban has taken a look at the eight reasons why Cabana should be on your short list.

Cabana

1. The onsite beach club

It would be remiss not to start with the unique onsite beach club Cabana is planning on its lower level.

The resort-style beach club facing the beach was a key feature in the design of Cabana. There will be a number of day beds on and off the water, and cabana’s on the private lawn.

Cabana

2. The location

Cabana is located directly in front of the recently completed Artificial Reef, a surfers dream. Cabana has also catered for the surfers in its amenities, with a number of surfers racks and storage for residents.

It sits between Tallebudgera and Currumbin Creeks and is a stone’s throw from Burleigh. There’s a number of trendy bars, beachfront cafes and eateries nearby, as well as boutique shopping venues and entertainment precincts.

Cabana

3. There are just 34 apartments

The six level block is home to just 34 premium apartments, which is likely to see a push to owner-occupiers rather than investors seeking holiday rental returns.

The smaller units creates a stronger sense of a neighbourhood community, and quieter communal areas.

4. All apartments have at least three bedrooms

Cabana is targeting the downsizer market, where there’s a lack of supply across the Gold Coast.

Agents in the neighbouring Burleigh Heads are saying the supply lines for three bedroom apartments are at a critical stage, with a number of buyers seeking a less demanding lifestyle by the beach.

Each of Cabana’s apartments span at least 200 sqm and have three bedrooms, two bathrooms and two parking spaces.

5. The design

Plus Architecture have ensured Cabana blends organically into its pristine coastal environment.

Fluted concrete, floor-to-ceiling glazing and detailed screening lend a classical tranquility to the building, while maintaining an absolute connection with the spectacular ocean views.

With a definitive nod to a tropical Palm Springs beach house, Cabana’s design merges seaside relaxation with elevated luxury.

The elevated tower form creates a rhythmic, organic shape that’s sturdy but delicate, reminiscent of the sweeping and rocky formations along the headlands that define the Gold Coast.

6. An entertainer haven

The kitchen has been planned to be the social focal point of the apartment with an extra-wise island bench and first class fittings.

Designed not to follow trends, but to set them, the kitchen is an opulent combination of modern and classic elements.

Each kitchen features VZUG appliances, Phoenix tapware, panelled doors, and natural stone benchtops and splashback.

7. The master bedroom view

Cabana

The master bedroom has been designed to take in the views just as much as the open plan living spaces. The floor-to-ceiling glass doors capture the natural light and cooling sea breezes, and open to a private balcony with glass balustrading.

8. The master bedroom ensuite

Each master suite has its own walk-in-robe and ensuite which feature large-format white wall tiles and a feature wall of Japanese mosaic tiles. An aqua-coloured natural stone bench top, limestone-look flooring and Phoenix tapware complete the ensuite.

Each will also have a freestanding stone bath, floating vanities and a large open shower.

Cabana

 

Article Source: www.urban.com.au

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Brisbane

Brisbane, Gold Coast, Perth outstrip Sydney and Melbourne prestige property markets

prestige property markets

The hunt for a house that’s not just a home, but a COVID-free castle, has pushed up prestige property prices in Perth, the Gold Coast and Brisbane, with a new report revealing the three cities outstripped the nation’s two biggest capitals during 2020.

The Knight Frank Wealth Report 2021, released today, also revealed the trio made a global splash in the Prime International Residential Index (PIRI 100), which tracks the movement of luxury home prices across the world’s 100 best residential markets.

Off the back of surging buyer demand, low interest rates and a greater emphasis on lifestyle, the three cities, with Perth in the lead, were ranked in the top 44 of prestige markets, after they each clocked up annual price growth of more than 2.5 per cent.

Sydney was ranked 56 – after prestige home prices grew just 1.1% – while Melbourne came in at 63 after prices rose 0.9 per cent.

A roaring resources sector and a push towards relaxed lifestyle locations saw Perth not just top the national list and rank 34th globally, but dramatically leap from last place among Australian capital cities in 2019 after prestige property prices soared by 3.6 per cent last year.

Luxury home prices in the Western Australian capital had remained almost stagnant the year before, rising by just 0.9 per cent.

The Gold Coast achieved a global ranking of 36 after prices grew by 3.2 per cent – compared to 1.8 per cent growth the year before.

 

Article Source: www.domain.com.au

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