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Final five apartments released in Chevron Island’s Allure as locals dominate sales

apartments

Over two thirds of the 90 sales so far have been to owner-occupiers, with 75 per cent of those being locals

The final five apartments in the sought-after Allure development on Chevron Island have been released to the market, at a time where the supply of new apartments is nearing record lows.

Each of the apartments left in the Macquarie York-developed, BDA Architect-designed building at 26-28 Dalpura Street, have three bedrooms and a multi-purpose room.

Macquarie York founder Roy Skaf said that the timing of launching Allure, which has netted over $72 million in sales, coincided with a demand for high-quality residences in the heart of the Gold Coast.

“Locals in particular have a strong awareness of Chevron Island’s distinctive charm, retaining a village-like atmosphere while being just moments from the vibrant coastal precinct just across the bridge.

apartments

Allure Chevron Island Corner Burra Street & Dalpura Street, Chevron Island QLD 4217 

“Allure has also captured the attention of savvy interstate buyers either looking to make a home for themselves surrounded by opulence, or those seeking a savvy investment opportunity in an area of incredible appeal.”

Over two thirds of the 90 sales so far have been to owner-occupiers, with 75 per cent of those being locals. The rest are southeners moving from New South Wales and Victoria to take up residence in the 17-level building.

Prices start from $1.1 million for the last release, and range to $1.3 million.

Allure is set to be one of the first developments completed on Chevron Island, which has recently seen a wave of new boutique developments hit the market and the Gold Coast City planning application portal.

Urbis’s Gold Coast Apartment Essentials report for Q2 revealed that just over four months supply of apartments remain if sales rates continue as they are, and no new projects are released.

The central Gold Coast precinct remains the epicentre of market demand, accounting for or more than half the total sales on the Gold Coast over the second quarter.

Construction of Allure is currently underway with completion expected early next year.

Macquarie York’s Gold Coast debut success of Allure has spurred plans for the developer to introduce its prestigious product to the southern Gold Coast, laying plans for an ultra- boutique collection of residences in Palm Beach.

 

Article Source: www.urban.com.au

Developments

Developers eye Surfers Paradise apartment development site, once proposed for luxury Markwell tower

Surfers Paradise

The approved plans for Markwell, located at 2983-2991 Surfers Paradise Boulevard, have been designed by BDA Architecture and include 552sqm of retail space.

Gold Coast apartment seekers, who are getting frustrated as developments continue to sell out prior to launch, are expected to have more of an opportunity when the construction of Markwell finally gets underway.

The Surfers Paradise Boulevard site, where the 47-level, 210 apartment Markwell was given development approval for in 2015 by its owners Citimark Properties, is set to be sold, with developers already showing interest on the dress circle address just 200 metres from the beach.

The approved plans for Markwell, located at 2983-2991 Surfers Paradise Boulevard, have been designed by BDA Architecture and include 552sqm of retail space.

There will be a mix of two-bedroom, two-bathroom and three-bedroom, two-bathroom apartments, the latter targeting the downsizer.

It’s a rarity for such a prime piece of real estate to come with development approval, GV Property Group Director Antonio Mercuri, who is handling the marketing with CBRE.

“While the demand is at an all-time high, there’s a scarcity of sites available, and even less on-market with DA approval, making parcels of land like this one an incredible and rare opportunity,” Mercuri said.

Mercuri said now is the time to invest in the Gold Coast, with a strong market outlook market post the pandemic peak.

“We’ve seen a significant influx of interest and sales in the Gold Coast market in recent months.

“With international travel still limited and many interstate Australians looking for a sea change after a challenging couple of years, the Gold Coast market has never been stronger.”

Surfers Paradise

CBRE Gold Coast Managing Director Mark Witheriff said it’s exciting to see a site of this calibre on-market at a time of tremendous confidence in the Gold Coast market.

“Markwell provides an opportunity to develop in the enormously popular Surfers Paradise hub, which usually attracts some 5.1 million visitors from around Australia and across the globe and has a growing resident population.”

Located on the corner of Markwell Avenue and Surfers Paradise Boulevard, the site is primely positioned in close proximity to the Q1 precinct and the new light rail. The site was last transacted in June 2015 for $11 million to Citimark Properties and now has a potential gross realisation value of circa $200 million.

Citimark Properties are offloading the site as they shift their focus to their other projects across their portfolio, which includes a soon-to-be-launched Chevron Island development, Mirador.

“Six years on, we look forward to seeing Markwell come to life, led by its new owners,” John Bowman, development director at Citimark, said.

 

Article Source: www.urban.com.au

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Developments

Inside the latest luxury Palm Beach apartment development, Ocean House

Ocean House

Drawing inspiration from its natural surrounds, Ocean House residences are designed in an earthy colour palette, with ample storage and high-end finishes.

The luxury Palm Beach apartment market continues to gather steam, and with that is a solid pipeline of luxury apartment developments.

The latest to launch is Ocean House, a boutique collection of just eight full-floor apartments by the Sydney-based developer Macquarie York.

The approved development has been designed by the local architecture firm BDA Architects, who say the striking building is sculpted from inspiration from the surrounding natural environment of the movement of water and sand.

“Expressive architecture portrays a sense of subtropical architecture” BDA advise in their design statement, with architectural elements of sun hoods, moveable screens, large balconies and deep roof eaves.

Ocean House

Ocean House 1101 Gold Coast Highway, Palm Beach QLD 4221 

The apartments, priced from $2.9 million, each span 200 sqm and have three bedrooms, as well as a media/multi-purpose room.

There will be shared resident amenity in a resort-style pool, dedicated barbecue and dining areas, and landscaping throughout.

“Ocean House will embody the finest luxury touches, alongside thoughtful additions that are made for practical liveability” Macquarie York founder Roy Skaf said.

The apartments, at 1101 Gold Coast Highway, will back onto Palm Beach Surf Club, placing residents with prime access to the heart of Palm Beach’s ambient café and dining culture. The apartments will have views over the water and the hinterland.

“Palm Beach is quickly becoming one of the most sought-after suburbs on the Gold Coast, and for good reason,” Skaf said.

“It’s home to the coast’s most pristine beachfront, packed with a sensational café and restaurant scene, and remains close to key Gold Coast attractions all while retaining that idyllic relaxed coastal energy.”

Drawing inspiration from its natural surrounds, Ocean House residences are designed in an earthy colour palette, with ample storage and high-end finishes.

“The superior quality of these homes coupled with their incredible location has been deliberately designed with owner-occupiers and holiday makers in mind,” Skaf added.

Ocean House is Macquarie York’s second apartment project on the Gold Coast, having achieved a near sell-out of its debut project, the $77 million Allure development on Chevron Island.

 

Article Source: www.urban.com.au

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Gold Coast

Top Queensland Spots for Interstate Buyers

Queensland

It looks like people from Sydney are waiting for the borders to open to move to Queensland and buy up property, with Noosa the most in-demand location.

Research shows 66 per cent of property enquires for the sunshine state are from NSW, according to Domain.

Those aged between 25 and 44 were looking to move from interstate to Brisbane while older people were looking outside the state capital.

The most popular house configuration was four bedrooms, two bathrooms and two car spaces while units needed two bedrooms, two bathrooms and one car space.

A Pexa Insights report also showed Queensland was the only mainland state to record quarter-on-quarter growth in property settlements.

Settlements were up 3 per cent on the previous quarter and 42 per cent on last year.

There were more than 59,000 settlements worth $42 billion in Queensland, compared with NSW at 58,000 settlements—down 4 per cent—and Victoria at 56,000, down 5 per cent.

Top Queensland locations for buyers

Rank Location Region
1 Noosa Sunshine Coast
2 Mudgeeraba-Tallebudgera Gold Coast
3 Buderim Sunshine Coast
4 Coolangatta Gold Coast
5 Broadbeach-Burleigh Gold Coast
6 Noosa Hinterland Sunshine Coast
7 Maroochy Sunshine Coast
8 Nerang Gold Coast
9 Sunshine Coast Hinterland Sunshine Coast
10 Nambour Sunshine Coast

^Domain Queensland Spotlight Report

PEXA Insights head of research Mike Gill said NSW and Victoria were hampered by lockdowns, while SA and WA seemed to have hit their peak.

“Queensland was certainly the standout performer of the September quarter for Australian property, showing no signs of slowing down,” Gill said.

Gill said the number of new loans also declined since 1 July however it was still up 39 per cent on last year, suggesting consumer demand was still strong.

Domain chief of research and economics Nicola Powell said flexibility in work arrangements, particularly for high earners, was driving the move in property trends.

“Significant shifts in the population like this don’t occur often. What we’re finding is that people are fast-tracking their decision to move, taking the opportunity to live and work with flexibility and where they choose,” Powell said.

“While there is no questioning that cities will always be home to the biggest population, we’re witnessing a surge towards regional and less metropolitan areas which are experiencing the biggest impact of internal migration.”

The Domain chief of research added the Olympics would further drive housing demand in south-east Queensland with 91,000 full-time jobs created in the lead up to the games and an influx of capital.

“As a part of this cash injection we will naturally witness significant demand for housing, especially as we prepare to welcome skilled workers to the state,” Powell said.

“What we can forecast is an increased demand for rental properties to host short-mid term workers, which naturally presents opportunities for investors to capitalise on the strong rental demand.”

 

Article Source:www.theurbandeveloper.com

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