As the Gold Coast continues to attract local and interstate interest, developers are taking advantage of strong buyer demand as Sydney and Melbourne residents look north.
With the end of 2020 seeing a wave of development applications, the latest figures from the Real Estate Institute of Queensland show the two most popular destinations for interstate migration still remain the Sunshine Coast and Gold Coast.
Four projects lodged in the past four weeks include developments spanning from Hope Island on the Gold Coast’s northern tip through to Palm Beach on the coast’s sought after southern end.
One of the largest developments lodged over the December period is Aniko Group’s $140 million development plans in Hope Island.
Property records show the 6-8 Sickle Avenue site was purchased for $3.5 million in May 2019.
The Archidiom-designed project spans a 8,244sq m site.
Led by George Mastrocostas, the group’s proposed project will comprise two apartment buildings standing 8-storeys in height with a total of 185 units and 370 bedrooms. Plans also show a total of 273 car parking spaces.
Plans for a nine-storey residential building at 1214-1220 Gold Coast Highway, Palm Beach have also been lodged by an entity linked to Daniel Chippendale.
The BDA-designed project will comprise 58 units, located on the corner of Tenth Avenue and the Gold Coast highway.
The 1641sq m sized site comprises four freehold allotments and is currently occupied by a series of double-storey residential brick homes.
Plans for the development show the building has 65 per cent site coverage.
The proposed project includes ground and rooftop communal areas, a pool, gym, outdoor dining, and open terrace areas.
Another project in the council pipeline is a 14-storey Cottee Parker-designed tower backed by Gold Coast developer Anthony Gordon.
The $140 million development, known as Reef Palm Beach, sits on a 3304sq m site at 332 The Esplanade, also in Palm Beach.
Plans propose 76 apartments across 13 levels along with two basement levels of car parking space.
Gordon picked up the beachfront site late last year for $21 million, in a deal managed by Cushman & Wakefield’s Kyle Youngson.
Plans are lodged for a 12-storey residential development in development busy Burleigh.
The project, known as Kailua, is bordered by Rudd Park and proposes 55 apartments.
The applicant, Robkel Burleigh Pty Ltd, is linked to David John Roberts, a local Gold Coast resident, and Brisbane based Michael Kelso.
The entity picked up the 1805 Gold Coast Highway, Burleigh Heads site, occupied by a two-storey office building, for $6.7 million in mid-2020.
As for recent sales, Brisbane developer Paul Gedoun has plans for a second residential building at Rainbow Bay following the 2020 sell-out of his $74 million Flow Residences project.
The Flow’s final luxury apartment sold within three months of the project launching.
And the first stage of the $380 million Kirra Beach Hotel re-development, touted to transform one of the Gold Coast’s most famous pubs into a tower, has clocked $88 million in sales following its official launch to market in late December.
Marketing collateral states that almost 50 per cent of the 118 apartments, which form the $180 million Miles Residence, have sold in the first stage for an average $1.61 million price tag in the three weeks since launch.
The redevelopment, helmed by Peggy Flannery’s KTQ Group, spans a one-hectare site overlooking Kirra Beach.
KTQ Group development director Jeremy Holmes said the cross-section of buyers to date involved 70 per cent from Queensland and 23 per cent from New South Wales, with the mix of apartments including one-bedroom residences priced at $550,000 up to three-bedroom residences priced at $3,000,000.
‘Record lows’: Gold Coast rental market
According to the Real Estate Institute of Queensland, the two most popular destinations for interstate migration still remain the Sunshine Coast and Gold Coast.
Citing liveability, affordability and lifestyle along with economic opportunities and education, the Sunshine Coast’s rental market is firmly gripped at 0.3 per cent, shows the REIQ’s latest vacancy data for the December 2020 quarter.
Areas such as Buddina (0.3%), Caloundra (0.3%), Maroochydore (0.5%), Noosa (0.4%) and Sunrise Beach (0.5%) have continued to tighten marginally over the past three months.
As for the Gold Coast market, REIQ chief executive Antonia Mercorella says rental properties are being “snapped up across all regions”.
Surfers Paradise recorded more than 2,100 vacant rentals at the peak of the pandemic nine months ago, and currently has 0.7 per cent stock availability, with its rental market now rebounding beyond pre-Covid levels to reach a new record low.
Record low vacancies have also been reported across the Gold Coast region.
In the north, which has a median vacancy of 0.6 per cent, stocks have reached all-time lows in areas such as Arundel (0.6%), Labrador (0.7%), Oxenford (0.1%), Runaway Bay (0.5%) and Southport (0.7%).
And on its southern end, a median vacancy of 0.3% across suburbs including Broadbeach (0.8%), Currumbin (0.3%), Miami (0.2%), Palm Beach (0.3%) and Varsity Lakes (0.6%).
Article Source: theurbandeveloper.com
Tower reveal: Plans lodged for boutique Indooroopilly tower in Brisbane
A company associated with local developer and Verrecchio Property Group director Sandro Alberti has lodged plans to the Brisbane City Council
Brisbane’s Indooroopilly is set for a new boutique apartment tower.
A company associated with local developer and Verrecchio Property Group director Sandro Alberti has lodged plans to the Brisbane City Council for a 35 apartment block on Clarence Road.
Alberti paid $3 million for the 1,215 sqm block at 109-113 Clarence Road which had been marketed by Cushman & Wakefield as a boutique mixed-use development site which allows for up to eight storeys.
There’s already plans by Prospect Architecture for an eight level tower, not including the two basement levels of garaging. Crowning the development will be a communal rooftop with swimming pool.
The plans suggest the development will be called The Fairmont.
There will be three two bedroom apartments and two three bedroom units on each level.
“Each unit is designed to encourage open plan living, with kitchen, dining room and living room opening onto balcony private open space”, the proposal reads.
“Visually, the contemporary building design is consistent with the intent and character of the precinct.
“This includes a variety of materials and textures through brick cladding, rendered and painted blockwork, horizontal cladding, and metal battens assisting in the reduction of overall built form.
“The proposed landscaping and open space areas ensure the site is adequately vegetated, providing amenity for residents as well as adjoining neighbours and the relevant streetscape.”
QLD properties selling now:
Article Source: www.urban.com.au
Top projects in Broadbeach on the Gold Coast
The Gold Coast residential market is booming thanks to its breezy lifestyle and relaxed atmosphere perfect for families and professionals
One of the fastest-growing cities in Australia, the Gold Coast has become a great location for investors and homebuyers.
Its residential market is booming thanks to its breezy lifestyle and relaxed atmosphere perfect for families and professionals.
Despite a decline in crane numbers over the last six months, the next six months is expected to see a flurry of sales as demand for apartments in the region continues to gather pace.
Broadbeach residents particularly have the best a suburb in Queensland has to offer, with a home in the laid-back beachside suburb that boasts all of the fun of the Gold Coast.
Many brand-new residences suitable for first home buyers, investors or downsizers offered at an affordable price point are available on the market now.
Urban takes a look at the top projects in Broadbeach.
1. Encore Broadbeach
Address: 22 Albert Avenue, Broadbeach QLD 4218
Two-bedroom apartments from $730,000
Delivered by family-developer Andrews Projects, Encore boasts a collection of 84 vibrant apartments footsteps from the ocean.
The two, three and four-bedroom apartments are designed by HHH Architects and feature oversized balconies with costal views.
Other amenities include a 25-metre heated lap pool, state-of-the-art gym, private sauna, residents’ lawn and barbeque facilities.
2. Koko Broadbeach
Address: 12-14 Elizabeth Avenue, Broadbeach QLD 4218
Two-bedroom apartments from $719,000
Morris Property Group delivers 99 generous two and three-bedroom apartments at the vibrant Gold Coast development, Koko.
Inspired by the modern luxe of international boutique hotels, the residences feature modern fixtures, hotel-quality amenities and contemporary design.
A lap pool, modern gym facilities, private outdoor entertaining areas and gardens also feature at the project.
3. Opus, Broadbeach
Address: 16-18 Chelsea Avenue, Broadbeach QLD 4218
Two-bedroom apartments from $749,900
Located in the heart of Broadbeach, Opus provides a great value apartment for investors and owner-occupiers.
Delivered by Morris Property Group, the 114-resident project features open-plan living and views over Surfers Paradise in two and three-bedroom configurations.
The resident also boasts access to a two-level recreation deck, featuring an open-air pool, landscaped yoga lawn and fully equipped gym.
4. Qube, Broadbeach
Address: 2-4 Jubilee Avenue, Broadbeach QLD 4218
Three-bedroom apartments from $1,495,000
Yet another Morris Property Group development, Qube rises 40 levels and delivers 202 residences in one, two and three-bedroom configurations. Although, only three-bedroom apartments remain.
The development features a vibrant retail plaza, residents’ recreation deck and additional storage.
Setting a new destination precinct for Broadbeach, homebuyers will also enjoy luxury finishes including oversized floor-to-ceiling tiles, wool-blend carpets and Parisi tapware.
Article Source: www.urban.com.au
Another apartment tower lodged in hot Gold Coast market
Plans have been lodged for Alba Residences, a $105 million apartment project at North Burleigh.
Developers can’t stay away from the booming Gold Coast market.
The longstanding Queenslander developer Devine Development Group is the latest to join the ever-growing index not wanting to miss out on the current Gold Coast apartment demand.
They’ve lodged plans for Alba Residences, a $105 million apartment project at North Burleigh.
Set on the dress circle Esplanade facing the beach, the 21 level tower designed by Bureau Proberts will comprise half and full floor residences catering for the top end of the market, with prices starting from $2.25 million.
The full floor apartments will span around 435 sqm and will have four bedrooms, a multi-purpose room, and four bathrooms, while the collection of half-floor apartments will have around 218 sqm of living space with three bedrooms.
The Melbourne-based Mim Design are handling the interior. There will be a lifestyle podium for residents where there will be a swimming pool and a gym.
It will sit on Esplanade, just down the road from 88 Burleigh, the $90 million tower by Allure Property Corporation.
The seashell-inspired, 17-level tower on The Esplanade, across from Burleigh Heads beach, will home just 31 apartments..
Demand for apartments in Burleigh Heads continues to soar as a surge of interstate buyers is creating a critical shortage of supply, particularly for three bedroom apartments which are being snapped up by downsizers.
Adam Young of Burleigh Heads’ Black and Young Real Estate, who has been selling real estate in the area for over three decades, says he has never seen the market in Burleigh so strong.
Burleigh is the ‘go to’ destination on the Gold Coast as a lifestyle, entertainment and dining precinct and real estate sales are reflecting the suburb’s newfound popularity.
“The market is very strong, driven by interstate migration and downsizers who see apartment living in Burleigh Heads as under-valued given its central location and the national park setting which is not unlike Noosa,” Young says.
Veteran developer and Devine Development Group head David Devine said Alba would be one of the enduring luxury apartment projects for Burleigh Heads and the timing to enter the market could not be better.
“We have worked for a long time to bring a project together that epitomises beachfront apartment living and Alba is the creation of that,” said Mr Devine.
“We believe is it a fantastic time to enter the market. Burleigh Heads is undoubtedly one of the most sought after residential locations for the luxury downsizer anywhere in Australia and there is certainly currently a shortage of new apartment product tailored to this market.
“Interstate migration to the Gold Coast is very strong as is the value that the Gold Coast offers compared so the southern states. The market is certainly leading the way nationally.”
JLE Projects director Jamie-Lee Edwards says Alba will be the epitome of beachfront living on what is a very tightly held and very high demand beachfront precinct.
“The convergence of sophisticated architectural design and interior styling with uninhibited views and the unparalleled location of Australia’s most recognisable beach, Alba is the pinnacle of contemporary beachfront living.”
Article Source: www.urban.com.au
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