The approval of a luxury residential development in Rainbow Bay that generated $70 million worth of sales in just two months, should have faced greater scrutiny from council’s planning committee, according to councillor Gail O’Neill.
The 12-storey Flow Residences sold 80 per cent of its 22 apartments within 24 hours, with prices ranging from $1.17 million, for a two-bedroom apartment, to $10.6 million for the penthouse.
Director of KM Sales and Marketing Jayde Pezet, who handled the Flow Residences, said he was “extremely optimistic” about the potential for more high-end developments along the “trendy but sophisticated” southern Gold Coast.
“It’s the Gold Coast’s time to shine and everything is adding up,” he said.
But Councillor O’Neill said the project’s impact on view corridors should have been discussed in council’s planning committee.
Project passed under special delegation
The code assessable application was approved on Monday via a special delegation of chair of the city planning committee Councillor Cameron Caldwell, CEO Dale Dickson, and Mayor Tom Tate.
Code assessable applications are not required to be voted on by councillors.
But Councillor O’Neill said the loss of views for nearby residents and possible disruptions to traffic safety meant Flow should have been at least discussed by councillors in the planning committee.
“[It’s] the chance for anybody living in that area, especially if they’ve got concerns about safety, it gives them a voice,” she said.
Councillor O’Neill said while “the proper processes have been followed” it highlighted the need for changes to the city plan.
‘Something the Gold Coast hasn’t seen before’
Mr Pezet said the apartments marked an increasing demand for more high-end developments along the southern Gold Coast.
“Rainbow Bay, as such, is a north-facing beach, very much the same as Byron Bay and Noosa and if we look at properties there, they’re so tightly held and have expensive square metre rates,” he said.
Complete with wine and surfboard lockers, Mr Pezet said the development was “something the Gold Coast hasn’t seen before” with “major interest” from Brisbane-based and interstate buyers for properties in the $3 million-plus range.
“The Gold Coast has always had a little bit of a stigma about it with people from interstate but that’s certainly not the case at this point,” he said.
“Eateries that have now come to town, and a lot of interstate operators — that just adds to the appeal.
The development, from S&S Projects, is due to be completed by early 2022, supporting around 1,000 construction jobs.
This article is republished from www.abc.net.au under a Creative Commons license. Read the original article.
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.
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.”
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.
Prime Broadbeach Development Site Hits Block
A prime development site on Queensland’s Gold Coast—a stone’s throw from world-class beaches and lifestyle—has hit the market.
Located on the corner of Rosewood Avenue and Gold Coast Highway, Broadbeach the site is zoned for apartments in a prime corner location only metres from the beach and opposite the picturesque riverside park, Cascade Gardens.
Zoned high-density residential, the site offers a development-friendly envelope of 1235sq m, along with two street frontages on a corner position.
Situated between Surfers Paradise and the heart of the Gold Coast, GV Property Group’s Antonio Mercuri said an abundance of view corridors are on offer—ocean, coastline, skyline, and hinterland.
“And in terms of lifestyle potential, the Broadbeach locale is surrounded by the Star Casino, the convention centre, the recently-refurbished Pacific Fair shopping centre, Oracle Boulevard and the popular Oasis shopping and dining precincts—all within a short distance.”
Making for easy transport along the coastline and soon further south down to Burleigh Heads, G-link light rail stations are located within 500m of the site.
The site has current development approval for a 39-level high-rise with 186 apartments, including restaurant and retail space, and has approval for podium levels of above ground parking. Further details on the approval will be provided on request.
The planning framework supports the establishment of a both residential apartments and short-term accommodation, with scope for a mixed-use development, subject to council approval.
The 1,235sq m site boasts 26.2m of Gold Coast Highway frontage, 35.1m of Rosewood Avenue frontage, high-density residential zoning and an unlimited building height limit.
Under construction with cranes in the sky are two nearby Broadbeach sites successfully marketed by GV Property Group: The Gallery by Raptis Group in Second Avenue, and Encore by Andrews Projects in Britannia Avenue, both of which also performed well with off-the-plan sales.
Further afield, GV Property Group has sold more than 30 development sites from Coolangatta to Surfers Paradise in the medium-high density space.
15 Rosewood Avenue is being sold via an expressions of interest campaign, closing 29 September 2020. Please contact Antonio Mercuri on 0434 629 521 or email firstname.lastname@example.org.
This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.
Gold Coast international, interstate ‘buyer activity enormous’ in residential real estate despite pandemic
International and interstate buyers cannot physically inspect the properties for sale, but a Gold Coast real estate agent says “activity is enormous” in its residential market — despite the pandemic.
Harcourts Coastal’s Vikki Plehan said “the lure” of record low interest rates and the Australian dollar had been attracting buyers from as far off as Singapore, Hong Kong, and the United Kingdom.
“They’re cashed up, so they’re trying to secure property so when they can come back to Australia they’ve got something here,” Ms Plehan said.
“Buyer activity is enormous, we just don’t have the stock.”
While Queensland’s border restrictions mean interstate residents are unable to enter the state without strict exemptions, Ms Plehan said buyer activity from Sydney and Melbourne had also been “phenomenal”.
Pandemic and politics ‘a big factor’
Ms Plehan said “a big factor was the international market” with many expats looking for a lifestyle change.
“They’ve been gone for 20 years, they’re dealing with the pandemic over there, in lockdown, and they’re living in a smaller, confined space,” she said.
This article is republished from mobile.abc.net.au under a Creative Commons license. Read the original article.
- Property Management5 years ago
7 Common GST Mistakes On Property
- Residential4 years ago
Ipswich Proves Frontier In Affordable Housing
- Infrastructure3 years ago
Decision on horizon for key marina section of huge North Harbour development at Burpengary
- Market Place3 years ago
How to make $1 million ‘flipping’ houses
- Developments3 years ago
Brisbane and interstate investors drawn to up-and-coming King Street precinct
- Market Place2 years ago
Moreton Bay makes top 10 list of places to invest in property
- Market Place3 years ago
Seaside suburbs the star performers of southeast Queensland property market
- Developments4 years ago
Caboolture West could be Australia’s next major regional centre