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Gold Coast’s off the plan property market activity booms amid COVID

Gold Coast's off the plan property market activity booms amid COVID

Gold Coast’s off-the-plan property market is booming with numerous projects achieving record sales amid COVID-19.

There remains a very strong market awareness and interest in the finite supply of waterfront land on the Gold Coast, said Keylin executive Louis Cheung.

The sale of Serenity 4212, a joint venture from development groups Keylin and Kinstone and the last waterfront land project on the northern Gold Coast, “defied” the market as the city’s best-selling land estate.

The $650 million waterfront project revealed $55 million in land sales during the pandemic, with 75 of Serenity Waters’ 110 blocks sold to local and interstate buyers.

The sales result, which includes first home buyers taking advantage of up to $40,000 in government incentives, comes as Serenity accelerates its construction program.

A number of luxury, off-the-plan apartment projects across the Gold Coast have achieved high interest.

Such projects include the $74 million Flow Residences at Rainbow Bay by S&S Projects and Spyre Group’s $77 million Nature project at Burleigh Heads.

Serenity Green received over 350 enquiries in just three weeks and deposits for a third of the townhomes on offer.

The Serenity Green, a collection of 60 four-bedroom, two-bathroom, were priced from just $489,000.

Kinstone’s James Chou said Serenity 4212 will become an exciting multi-year, multi-staged master-planned project which will include retirement living, additional townhomes and a mini marina precinct.

“We’re proud of the success of Serenity Waters and Serenity Green and look forward to continuing to develop this emerging community over the coming years,” said Chou.

First settlements of the land release in Serenity is set to occur towards the end of this year.

This article is republished from propertyobserver.com under a Creative Commons license. Read the original article.

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Developments

Gold Coast ‘Sky Garage’ Apartments Win Approval

Gold Coast ‘Sky Garage’ Apartments Win Approval

Gold Coast developer Ignite Projects are moving ahead with a 23-storey residential tower, including vertical car showrooms, on the Gold Coast.

The “sky garages” are a major feature of the 25 apartment development dubbed The Monaco at 2-4 MacArthur Parade, Main Beach, which recently gained approval.

Ignite submitted the application in November on the 898sq m site, incorporating two amalgamated properties between Main Beach and the Southport Yacht Club. The developer paid around $11,000 per square metre to acquire the sites.

The application includes eight half-floor apartments, 16 full-floor apartments and a two-storey penthouse as well 18 car showrooms within the tower.

Two car lifts located on the southern end of the site will enable cars to get into the tower, then be driven into the garage area located to the side apartment near the kitchen and living area.

There are also private balconies and 284sq m of communal open space including a pool, gym, barbecue facilities and a gym on the second floor.

▲Ignite Projects will have two car lifts within The Monaco on Main Beach building as well as "sky garages" within the apartments.
▲Ignite Projects will have two car lifts within The Monaco on Main Beach building as well as “sky garages” within the apartments. Image: Rothelowman architects

Ignite Projects managing director Josh Foote said the apartment garages were the first they knew of in the southern hemisphere.

“The idea was initially due to a concerns for car-parking we were trying to figure out the best use of a small basement,” Foote said.

“This is probably the only place we could get away with something so extravagant.

“You get to ride in the car up to the apartment and it essentially works like a passenger elevator.”

According to architects Rothelowman, the building will incorporate subtropical elements, open ground levels and a non-conventional approach to car parking.

“An engaged and visible lifting solution allowing vehicles to be taken to the apartment fosters the notion of beach houses in the sky,” the development application said.

“A series of interventions within the curves of the ground plane columns acknowledge the rituals of coastal life.

“The washing of surfboards, the storage of fishing rods and beach equipment all form part of the sequence of entry.”

In making the decision to approve the application a Gold Coast City Council officer said the tower is considered to be responsive to the scale and character of the area which allows for unlimited height on developments.

The proposed development is considered to reflect the ‘high intensity urban environment’ as sought within the frame area of the light rail urban renewal area overlay code, while being designed to respect the existing residential amenity of the surrounding properties,” the development report said.

There were 26 objections to the development application, which was ultimately recommended, approved and construction is expected to commence in early 2021.

The tower will add to a number of existing residential developments in the Main Beach area ranging from 24- to 35-storeys.

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.

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Developments

Rare Gold Coast Beachfront Site Hits the Market

Rare Gold Coast Beachfront Site Hits the Market
A landmark beachfront development site at the northern end of the Gold Coast with no building height limit, suitable for a residential mixed-use project, has hit the market.

The amalgamated Pacific Point high-rise apartment building and adjoining duplex is being offered for sale by James Holland, Brendan Hogan and Gus Moors of Colliers International.

The 1,682sq m beachfront site located at 3464-3468 Main Beach Parade, Surfers Paradise, is zoned high-density residential and is being marketed by Colliers International on behalf of Aquis Australia which is linked to Hong Kong-based Tony Fung.

The property boasts extremely rare beach frontage of more than 70 metres, with an existing 10-storey apartment building and a 3-storey duplex—providing substantial holding income.

Rare Gold Coast Beachfront Site Hits the Market

The high-density residential zoning and unrestricted building height combined with the substantial site area provide the opportunity to develop a landmark beachfront project. Concept plans are available for a striking residential mixed-use tower featuring premium residences above a hotel.

The site has an existing approval for a Woods Bagot-designed 580-key resort development with circa 47,000sq m of gross building area over 50-storeys.

“There are extremely limited beachfront development sites of this scale remaining under single ownership on the Gold Coast—let alone those which have the 70-plus metres of beach frontage of this site.” Colliers International residential executive James Holland said.

“The beachfront apartment market continues to go from strength to strength and we are seeing a significant increase in demand for premium beachfront apartments – driven by a spike in local, interstate and offshore purchasers”

Rare Gold Coast Beachfront Site Hits the Market

Colliers International Residential director Brendan Hogan said that he has already seen strong interest for the site.

“And we anticipate further interest from a range of parties including developers, hotel developers and investors who may landbank—either originating locally, interstate or offshore.”

“We are seeing an increasing trend of new entrants into the south-east Queensland market who are looking for ‘high quality sites’ given the lifestyle and affordability benefits as well as the positive economic and population growth outlook, so this site would certainly appeal to these prospective buyers.”

Colliers International head of hotels Gus Moors said that now state border restrictions have lifted, the Australian travelling public will flock to regional holiday destinations.

“Gold Coast in particular will be a market in demand due to its history of being Australia’s playground. Upon lifting of international travel restrictions, the international travelling market are likely to be drawn to the Gold Coasts’ strong fundamentals around accessibility to Asia Pacific, outdoor lifestyle, and a diversified economy. ”

The international expressions of interest campaign for Pacific Point closes 28 October, if not sold prior.

This article is republished from https://theurbandeveloper.com/ under a Creative Common license. Read the original article.
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Developments

Coolangatta Apartment Development Seeks New Heights

Coolangatta Apartment Development Seeks New Heights

Coolangatta Apartment Development Seeks New Heights

Plans for a 72-apartment residential development spanning 13-storeys in Coolangatta has been lodged with the Gold Coast council.

The apartment block would stand 43.5 metres high and span a 1,524sq m block at 7-11 Miles Street.

Gold Coast local Adam Lacey, director of development company Lacey Group, is attached to the applicant name, LGOC Nikkiville, on planning documents lodged with council, and has entered into a put and call option on the Coolangatta sites with the involved landowners.

The town planning assessment report, prepared by Urbis, says the developer is pushing for a 50 per cent height increase for its apartment project, with the current building height code at 29 metres.

The sites are currently occupied by three separate single-storey residential developments.

apartment development

The project will comprise 35 two-bedroom apartments, 35 three-bedroom apartments, 2 three-bedroom townhouses and 107 car spaces across two basement levels.

Plans show the Plus Architecture-designed project will incorporate “urban wall art” that will stand five metres in height.

According to the architect’s design response, “urban art has been found to be very successful in creating identity” noting that local artists are to be selected to create the piece.

The 9-11 Miles Street site had hit the market earlier this year in March.

Real Specialists Commercial agent Brad Duncalfe says the southern Gold Coast precinct—stretching from Burleigh Heads through to Coolangatta—has been an active market throughout the pandemic.

“It’s been extremely popular, with enquiries from southern buyers and developers. For developers in that mid-density range stock, they are still able to secure pre-sales.”

apartment

The Gold Coast-based Lacey group is behind a range of projects in the area, including a six-storey development comprising 20 apartments at North Kirra, and a 33-dwelling estate at Currumbin Waters.

Lacey is also the son of surf lifesaving champ, Peter Lacey, who was also a well-known property developer.

Recent approvals in the area include The Kirra Beach Hotel, by KTQ Development, which will comprise three towers of a maximum 15-storeys in height.

This article is republished from https://theurbandeveloper.com/ under a Creative Commons license. Read the original article.

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