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Investors Eye Gold Coast Infrastructure Boost

Gold Coast

In a huge boost for economic growth and jobs on the Gold Coast, the Queensland government has released details of its four-year, $52.2-billion infrastructure spend and the draft State Infrastructure Strategy, a vision for the State’s infrastructure needs for the next two decades.

These significant investments will play a vital role in growing the health, sciences, technology and innovation sectors necessary for the rapid growth predicted on the Gold Coast, driven by a growing local population.

In prime position to benefit from these investments is Lumina, a premium life sciences commercial cluster within the 200ha Gold Coast Health and Knowledge Precinct, a spokesperson said.

The precinct is already home to established health and science leaders Gold Coast University Hospital, the Gold Coast Private Hospital, Griffith University and Cohort Innovation Space.

State government investment in the precinct’s infrastructure is driving even greater connectivity and opportunities for co-location with hospitals, which is ideal for healthcare services, health tech, and health-related industry stakeholders to connect with clinicians and their patients, the spokesperson said.

One development already taking advantage is Proxima, an $80-million children’s health and education centre of excellence within Lumina.

While Australia, like most developed nations, has an ageing population this is not the case for the Gold Coast and Proxima is set to meet the needs of the growing numbers of children and young families in the region.

It is estimated that there are more than 80,000 children (0-9 years old) currently living on the Gold Coast, with 34 per cent forecasted growth by 2041.

As more than 60 per cent of the Gold Coast’s projected population growth is expected to occur within the northern Gold Coast, Proxima, other developments within Lumina and services in the precinct are ideally placed to meet their medical needs.

“Boosted by favourable market conditions, the next round of the planned developments at Lumina are taking shape, demonstrating the strong demand for life sciences, health and technology on the Gold Coast,” the spokesperson said.

Key drivers of growth

Population and Industry data from the Australian Bureau of Statistics reveal the Gold Coast as one of Australia’s fastest growing regions in both current and future growth.

Two of the key drivers at play are population growth and a deliberate government strategy to drive diverse economic growth and knowledge job creation in the region.

The Gold Coast population is set to increase to around 1.1 million people by 2041. Much of this growth will occur in the northern Gold Coast, notably around the Southport region.

Interstate migration is a key factor, with more Australians relocating to the Gold Coast than any other region. This ballooning growth is creating demand for necessary infrastructure, as well as services to support the population’s needs.

Economic growth is also a key driver, particularly in the northern regions. The Gold Coast City Council’s vision is for diverse economic prosperity, beyond its traditional tourism industry. The region is focused on growing its health, research, education, and innovation economy.

This vision is already having an impact. Global property and investment firm CBRE in its latest analysis of the Life Sciences industry in Australia, reports that there is 10 per cent higher growth in health sector investment on the Gold Coast compared to south-east Queensland, and 14 per cent higher growth than the state overall.

In the professional scientific and technical services sector, there is also a 90 per cent growth forecast centred on the Gold Coast in 2020-21, the gain exceeding the growth rates of 75 per cent in south-east Queensland and 73 per cent in Queensland.

The tertiary education sector on the Gold Coast is being led by Griffith University, with strong enrolments in its Southport campus.

This expanding population and economic investment boom are key drivers for the need for new infrastructure, and with the planned infrastructure enhancements, savvy investors are seeing the opportunities offered by developments like Lumina in the centre of the action.

Infrastructure investment boosts accessibility

In 2020-21 financial year there has already been a $1.15 billion investment boost in Gold Coast infrastructure projects as part of the Queensland Economic Recovery Plan.

But this is just a part of the ongoing public infrastructure investment of more than $6.36 billion.

This has included targeted investments in transport infrastructure (including a $3.4 billion Gold Coast Light Rail extension), addressing accessibility and congestion. The rail extension will ensure convenient, direct public transport access around the Gold Coast and to and from its economic hubs.

Direct access to Brisbane is also being enhanced. There are planned improvements to the “Coomera Connector,” in addition to the existing M1 highway between Brisbane and Gold Coast.

Upon completion, stage one of the Coomera Connector is expected to remove up to 60,000 vehicles from the M1, which will reduce commuter travel times between the Gold Coast and Brisbane.

The airways are opening too, with a $370-million expansion of the Gold Coast airport under way to improve domestic and international airport access

Lumina is positioned to reap the benefits of infrastructure investment

Supported by over $5 billion in infrastructure investment to date, a world-class university, and two hospitals, Lumina is ideally positioned for those seeking to secure a place within its thriving community.

There is space for start-ups requiring coworking desks, and space for growing or established businesses seeking offices, multiple floors or even developers and occupants with a vision for a building of their own. Lumina provides solutions to businesses of all sizes, stages, and specialisations. Invest today in Queensland’s growing and diversifying life sciences, health and technology sectors.

 

Article Source: www.theurbandeveloper.com

Developments

Local and interstate buyers drive SPG Land’s sell-out of Robina’s Cambridge Residences

international buyers

Almost a quarter of buyers in the final stage were from interstate, while four apartments were sold to international buyers

Local and interstate buyers have snapped up the final stage of SPG Land’s $162 million Cambridge Residences apartment development in Robina.

The $44.5 million sell-out of Brooke Residences was the final stage of Cambridge, which all up has over 400 apartments.

Project marketer Colliers said the final stage, comprising 95 apartments, proved a hit with local and interstate buyers who were drawn by the value proposition of the development.

“This final stage of Cambridge Residences demonstrated a quantum shift in the buyer profile from investors to owner-occupiers,” said David Higgins, Director Residential for Colliers Gold Coast.

Cambridge Residences

Cambridge Residences 42 Laver Drive, Robina QLD 4226 

“An overwhelming majority of buyers in the final stage, 74 per cent, were owner occupiers which is a massive turnaround from the previous three stages where 80 per cent of sales went to investors.”

Higgins said the development benefitted from a spill of buyers who have been priced out of projects in beachside locations. Apartments in the final stage sold at an average price of well under $500,000 each.

“Not everyone can afford the beachfront, but Cambridge Residences proves that great projects in prime locations that are well priced and with great amenities are selling well,” he said.

“Our team received excellent local enquiry, as well as a number of value-seeking interstate buyers who flew up specifically to purchase off the plan.”

Almost a quarter of buyers in the final stage were from interstate, while four apartments were sold to international buyers. Of the 74 per cent of sales to owner occupiers, almost 50 per cent were first-home buyers.

A large number of sales were secured by downsizers who had sold larger homes to take up residence in Robina’s urban hub, while the 26 per cent of investors who bought into the final stage were all local Gold Coast buyers.

“Cambridge Residences was a niche market offering that combined a fringe location with a high level of residential amenity,” Higgins added.

“The quick sell-out of this final stage was an outstanding vote of confidence in Robina and for price-pointed stock targeting the missing middle.”

Following the sell-out of Cambridge Residences, SPG Land is now gearing up for an $800 million three-tower development in Surfers Paradise that will deliver an innovative design and create one of the largest residential resort projects ever undertaken on the Gold Coast.

 

Article Source: www.urban.com.au

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Developments

New half and full-floor beachfront apartment tower heading for Main Beach

Main Beach

Plans have been lodged for a 21-level apartment tower at 3671 Main Beach Parade, on the sought-after beachfront side, which will have just half and whole-floor apartments

The developer push for more high-end apartment towers on the Gold Coast is set to continue at Main Beach.

Plans have been lodged for a 21-level apartment tower at 3671 Main Beach Parade, on the sought-after beachfront side, which will have just half and whole-floor apartments.

The application was lodged by local hotelier Bruce Donnachy, who runs the Arundel Tavern.

The half-floor apartments will run from levels three to nine. Level nine upwards will have just whole-floor three bedroom apartments, with 328 sqm of internal space and 80 sqm of external balconies.

Crowning the DBI-designed development is the two-level penthouse, spanning some 670 sqm of internal living space and a further 100 sqm of outdoor. The half-floor apartments will have 191 sqm of internal space.

The resident amenity is located on level 10, where there will be a gym, multi-purpose room, swimming pool with deck, and a barbecue area.

DBI’s brief was to design a contemporary coastal luxury 5-star residential apartment building that is timeless.

“The timeless architecture will set a new benchmark in the Main Beach Precinct,” DBI advise in the submissions to the Gold Coast City Council.

“The architecture of the proposed luxury residential development is composed of simple curved and linear forms, white concrete spandrels, a textured and timeless material palette of travertine stone and timber screening, creating a rich and layered coastal effect.

“A series of planters on the facade add a layering and softening of the built form, reinforcing the importance of sub-tropical design.”

 Main Beach

Renders of the proposed building. Image credit: DBI Architecture 

The subject site sits at the eastern edge of the core Main Beach precinct.

“This project offers the opportunity to design a luxury residential apartment building that caters for the owner occupier,” DBI’s statement read.

The high-end development trend is sweeping the Gold Coast, as stock continues to tighten as the luxury owner-occupier demand continues to rise.

Nearby on Main Beach Parade is La Mer, one of the few developments in Main Beach currently selling which also targets the luxury owner-occupier.

La Mer

La Mer 3580 Main Beach Parade, Main Beach QLD 4217 

La Mer comprises just 29 apartments across its 34 levels, start from 307 sqm. It is being pitched itself as the ultimate downsizer development by NPA Projects. “Transitioning from a house to an apartment has never been easier,” NPA advise.

Only a handful of apartments remain.

Broadbeach is seeing more of an uptick in the luxury owner-occupier space than some of the surrounding Gold Coast suburbs.

Little Projects recently launched Aperture, which will have just 29 apartments across the 35 levels, with 26 full-floor apartments with three bedrooms, three bathrooms and three parking spaces.

They start from $2.1 million, with every level of the 120 metre building offering uninterrupted ocean views from the balcony off the living area.

Ferro Chow Architects took a similar approach to the downsizer trend, offering half and full-floors at a prime corner Broadbeach site opposite the bowls club.

The 46-level tower will have 59 apartments, with half-floor apartments taking up the first half of the tower, then full-floor apartments from there up.

The smallest apartments have three bedrooms and a multi-purpose room. There are 36 three-bedroom apartments, 22 four-bedroom apartments, and a special penthouse toward the point end of the building.

 

Article Source: www.urban.com.au

 

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Developments

How Rothelowman designed Hirsch & Faigen’s Kirra Beach apartment development, Emerson

Rothelowman

In their statement to the Gold Coast City Council, Rothelowman said 100 Musgrave Street offered the opportunity to consolidate a historically rich, vibrant and evolving part of the City

Some of the finest Gold Coast apartment developments have been designed by Rothelowman, one of Queensland’s leading architecture practices, in recent years.

Rothel​o​wman, who has offices in the Gold Coast, Brisbane, Sydney and Melbourne, put together the designs for The Monaco, which recently sold-out with an average sale price of around $5 million, as well as Dune at Main Beach, SPG Land’s massive $800 million apartment towers on Ferny Av​enue.

Roth​e​low​man was commissioned for the first Gold Coast apartment development from the Melbourne-based developer Hirsch & Faigen.

Hirsch & Faigen had them design the 14-level, Palm Beach apartment development Hemingway, named after the famous author and featuring a distinct blush façade. That sold out all of its 78 apartments in just a few months.

For Emerson, Hirsch & Faigen’s more boutique Kirr​a Beach, Coolangatta offering, Hirsch & Faigen had the team put together something a little different to Hemingway.

Emerson Kirra

Emerson Kirra 100 Musgrave Street, Coolangatta QLD 4225 

In their statement to the Gold Coast City Council, Rothelowman said 100 Musgrave Street offered the opportunity to consolidate a historically rich, vibrant and evolving part of the City.

“Primarily the scheme seeks to challenge the “bias of the linear coastal city” by focusing on the interfaces created between the ground plane and the public spaces of the street,” the statement read.

They stated that, although Emerson was a relatively modestly scaled development, the prime corner location allowed the scheme to challenge the prosaic and prevalent “blunt street edges” that typify the oceanfront boulevards of the City, instead favouring a generous display of communal coastal activities.

“Historically the City has celebrated it’s outdoor activities; pool’s exposed to the street, sun lounges under umbrellas overlooking the footpath, gardens framing views into and out of the semi-private spaces of development.

“Observations of this playfulness have been paramount in the exploration of an undercroft as the primary device in creating a permeable and porous interface between the semi-private and public realms of the City.”

The Rothelowman team said that the overall composition of the scheme favours a simple and informed diagram that is analytical of the surrounding precinct.

“A three storey “street building” provides a direct response to the Cities desire to create a strong “Urban Ground”. This is further accentuated through a series of dancing, curved and landscaped balconies that shift amongst a rational and expressed structural order which ties the ground to the tower .

“A simple plate allows for the transition from podium to tower architecture creating a deep eave that is visually demonstrative of an overt subtropical approach to buildings.

“The tower architecture follows a similar approach to simplicity. Profiled slab edges project forward creating shade and protection. The line of enclosure to the tower dwellings is kept back from the edge, undulating and folding to craft views. Recesses in the façade offer the opportunity for residents to tailor small gardens within the building form offering more immediate amenity in the context of the expansive and broad longer aspects to the ocean.

These small indents also allow for the control of cross ventilation through openings away from the face of the building enabling better resident control of breezes in windy conditions.

“The overall approach to the design has been one of deliberate and measured analysis. The building is modest in expression favouring performance and liveability over decoration. A relative simplicity enables the aspirations of coastal living to be prioritised; engaging with the environment in a meaningful and deliberate way.

 

Article Source: www.urban.com.au

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