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Raptis launch Pearl, Main Beach apartment tower amid booming Gold Coast market

Pearl, Main Beach is the first foray in to the Main Beach market by Raptis, headed by founder Jim Raptis

The veteran Gold Coast developer Raptis has launched sales at its latest Main Beach apartment development, the $160 million Pearl, Main Beach.

The 30-level tower at 3550-3552 Main Beach Parade will have 80 apartments, including a luxury two-level penthouse.

Pearl, Main Beach, is the first foray in to the Main Beach market by Raptis, headed by founder Jim Raptis who started the company in Sydney back in the mid 1960s.

Raptis said they’ve been waiting for the right site to enter Main Beach.

“With the reinvigoration of Main Beach and the growing owner-user market, we’ve been looking for the right location for our involvement in the suburb,”, Raptis said.

“We’ve found it with Pearl, which we’re very excited to bring to Main Beach.”

Raptis

Pearl Main Beach 3550-3552 Main Beach Parade, Main Beach QLD 4217 

Raptis believed the current property cycle offered unique opportunities for buyers to secure a sought-after Main Beach lifestyle.

“Empty-nesters, wherever they are located, are achieving more for their homes at the point of sale, providing them with the liquidity to secure a Main Beach lifestyle. It’s a great moment for the Gold Coast and we’re excited Pearl, Main Beach will offer a lifestyle many residents thought was out of reach.”

The two-bedroom, two-bathroom Pearl apartments that span 85 sqm start from $749,000. The three-bedroom, 140 sqm apartments are priced from $1,345,000.

Residents will have access to the rooftop swimming pool and recreational facilities with skyline views. On the same level is a dining area with wine cellar, available for private bookings.

A super penthouse crowns the top two levels. It will have over 700 sqm of living space with xxx bedrooms, its own private pool, multiple living areas and an opulent library. The whole floor apartment will have 360-degree views from the beach to the hinterland.

The price is yet to be finalised, however it is expected to to rival the Soul penthouse which recently sold for over $14,000 per sqm, suggesting a sale of the Pearl penthouse at around the $10 million mark.

There will be two further skyhomes with 550 sqm of living space and 12 sub-penthouses, priced from $1.975 million.

Construction is underway and is expected to be completed in August 2022.

To the end of 2020, Queensland recorded the highest rate of net interstate migration of any state, according to the ABS. Over 30,000 additional residents were drawn to Queensland due to the state’s response to COVID-19

Raptis joint managing director Evan Raptis said the Gold Coast had recorded strong price growth against the backdrop of the pandemic.

“Compared to the East Coast capitals, the Gold Coast still offers discernible value to buyers – especially for those that seek to elevate their lifestyle,” Raptis said, adding that Pearl, Main Beach would appeal to a broad base of buyers.

About Raptis

Raptis is a Queensland-based development company jointly led by Jim and Evan Raptis. Raptis has been an innovator of style and functionality across integrated residential, resort, retail and commercial development.

Over more than 40 years, it has created more mixed-use developments than any other Gold Coast development company, including the landmarks Tower of Chevron Renaissance, Southport Central and the Phoenician.

 

Article Source: www.urban.com.au

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Brisbane

What’s within walking distance from Bide apartments

Nestled in the heart of Newstead, the 89 residence apartment tower has been designed as an urban getaway just 3 kilometres north-east of the Brisbane CBD

The latest inner-Brisbane apartment project by the local developer Dibcorp Properties is Bide, which is located in the heart of the upmarket riverfront suburb of Newstead.

The location of the 89-apartment development Bide, at 21 Longland Street, puts it just a stone’s throw from the Brisbane River, and the convenience of the Teneriffe Ferry Wharf which connects the suburb to the CBD.

Residents will have immediate access to Gasworks Plaza on the adjoining Skyring Terrace riverfront street, which is home to a Woolworths and a numb er of other stores, as well as restaurants, cafes and coffee shops like Ping Pong, Yolk and Campos Coffee.

On Longland Street there’s the popular eateries include Smoky Moo, The Defiant Duck, Drum Dining and the Milky Lane Newstead.

Cutting across Longland are a number of side streets like Stratton and Wyandra, which have a number of retailers and boutiques for residents to explore like a Think 24hr fitness, Smile Studio, and Brisbane Skin.

Bide

Bide 21 Longland Street, Newstead QLD 4006

Designed in collaboration with architects from Twohill & James, Lat27 and Wiltshire Stevens Architecture.

Nestled in the heart of Newstead, the 89 residence apartment tower has been designed as an urban getaway just 3 kilometres north-east of the Brisbane CBD.

It is the latest part of the suburb’s transformation to an up-market residential suburb belying its industrial past. Timber yards, asbestos works, wharves and woolstores once dominated much of the predominantly commercial suburb, now one of the most sought-after apartment spots in Brisbane.

Bide is just a short distance away from Route 25 as well as the Teneriffe Ferry wharf and bus stations for those who choose public transit. As such it is right by the Brisbane river.

The proximity to schooling, as well the large three-bedroom apartments on offer, make Bide attractive for families. The nearby educational institutions include:

  • Torrens University Australia – Satellite campus – 1.4km away
  • University of Queensland – Satellite campus – 1.9km away
  • Queensland University of Technology – Main campus – 3.3km away
  • New Farm State School – Public School – 1 km away
  • Music Industry College – Private School – 1.1km away
  • Angelorum College – Private School – 1.1km away

Dibcorp has offered residents the opportunity to work hand in hand to tailor the layout, configuration and finishes of their apartment.

Apartments inside feature open-plan living and dining, a balcony space and a study nook in some apartments for working from home.

Inside, residents can enjoy 600 sqm of amenity across two levels, including barbeque facilities, private cabanas, landscaped areas and seated space throughout.

 

Article Source: www.urban.com.au

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Developments

Developer Contributions ‘Inflating New House Prices’

Developer

Developer contributions are having an inflationary effect on housing affordability and impeding supply, according to new research.

The National Housing Finance and Investment Corporation’s (NHFIC) research report on developer contributions has found that the infrastructure charges are increasingly acting like a “tax on new housing”.

Developer contributions, or infrastructure charges, are levies charged by local and state governments to help pay for local infrastructure, focusing on water, drainage, footpaths, parks and community facilities.

NHFIC cites the unpredictability and opaque nature of infrastructure charges as a core issue in developers’ feasibility studies.

It also says often this charge becomes an on-cost for homebuyers or end-users, impacting housing affordability significantly.

According to NHFIC, developers have to factor in infrastructure charges at around 10 per cent of total development costs—but generally higher in New South Wales, and up to $85,000 per greenfield dwelling development in some areas.

Greenfield developer contributions (per lot)

Region Indicative cost Developer contributions (% of total cost)
NSW $58,000 11%
Vic $52,000 11%
Qld $32,000 8%

^Source: Developer Contributions report, NHFIC

Housing Industry Association chief executive of industry policy Kristin Brookfield said development contribution schemes had become a significant hindrance.

“This is partially due to the large range of infrastructure now included and the gold-plated standards being sought by local and state governments,” Brookfield said.

“A conscious decision to shift the majority of the upfront costs on to new housing developments emerged in New South Wales almost two decades ago … Sydney is the most expensive [but] other states have taken the same approach and we are starting to see costs increase in most other states.”

Brookfield said the upfront charge was the least efficient way to recover infrastructure costs and was impacting the costs of new homes.

“The HIA would support further research to assess the unintended impacts of high and poorly functioning development contribution systems nationally and the implications these taxes are having on new homebuyers,” she said.

NHFIC said it was a “concern that the application, scope and administration of developer contributions is a relatively opaque area of public policy” and that there was little information available to compare states and territories.

An analysis of Sydney councils showed up to 88 per cent of all funds raised through developer contributions between 2017 and 2020 were earmarked for social infrastructure.

Around one-third, on average, was earmarked for essential infrastructure with a stronger nexus to new housing developments.

According to NHFIC, improved policy co-ordination and optimising risk to share cost arrangements between councils and developers would increase new housing supply.

 

Article Source: www.theurbandeveloper.com

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Developments

Habitat Development Group set for 200 apartment St Clair Apartments in Birtinya on the Sunshine Coast

“We’ve been building on the Sunshine Coast for the past 16 years and this is the most buoyant market I’ve ever seen,” Habitat boss Cleighton Clark said.

The local Sunshine Coast developer Habitat Developments are set for a 200-apartment development on the Maroochy River.

Habitat, led by director Cleighton Clarke, has lodged plans with the Sunshine Coast Council for St Clair Apartments at 930 & 931 Birtinya Boulevard, located directly adjacent to Lake Kawana.

There will be 100 apartments in each eight-level building, made up of 46 two-beds, 119 three-bedroom apartments, making up 60 per cent of the development, and 35 four-bedroom and penthouse apartments.

Habitat Development Group managing director Cleighton Clark said they are excited about the project and look forward to Habitat playing its part in the growth and evolution of the Birtinya lakeside precinct.

“There’s already been some exciting momentum created by Stockland and other strong local developers,” Clark said, adding that the Birtinya precinct was awarded the 2020 National UDIA Award for Master-planned Development.

K Architecture designed the buildings which curve in sync with each other, and are separated by a walkway to the water.

Habitat Development

Each building will rise eight levels from the ground, with a further two-levels of basement parking which will hav over 400 parking spaces.

“St Clair has a really elegant design and will capitalise on its prime waterfront location,” Clark said.

“This prime waterfront development promises stunning ocean views and across Lake Kawana to the east as well as committed green space to the west.”

There will be 13 apartments on each level, apartment from the ground floor which will have 12 and level eight which will have 10.

Some of the bigger penthouse-style apartments have over 50 sqm plus outdoor space, with a handful of courtyard apartments with over 90 sqm of gardens.

The ground floor homes the amenity, including a 25 metre swimming pool, communal dining room and a games and play lawn. The rooftop terrace will have seating and dining areas.

Habitat Development

Habitat are hoping the project will start in mid to late 2022, and will be completed in Q1 2024, pending approval.

Habitat recently sold out their $83 million Maroochydore project Market Lane, and are set to launch another Maroochydore project, The Corso, next year.

Clark said his enthusiasm for the Sunshine Coast has been reinforced by the strong market interest in Habitat’s existing projects under construction which are all completely sold out.

“We’ve been building on the Sunshine Coast for the past 16 years and this is the most buoyant market I’ve ever seen,” Clark said.

“Rental vacancy rates have been low on the Sunshine Coast for a number of years, but vacancy is incredibly tight and we’ve witnessed very strong rental growth in the last year. Apartments are renting for 20% more than they were 12 months ago in projects we’ve completed and continue to manage.

“St Clair provides us another project to commence alongside some of our other exciting projects we’re planning in 2022.”

 

Article Source: www.urban.com.au

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