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The Monaco, Main Beach secures sell-out as one of Gold Coast’s most expensive apartment towers

The Monaco

Construction is now underway by McNab Builders, with an estimated completion date of 2023

The Monaco, the luxury Main Beach apartment development by the local developer Ignite Projects, has secured a sell-out.

The Rothelowman-designed, 24-level tower, with just 24 half and full-floor apartments, sold with an average sale price of $4.6 million. The penthouse secured $9.5 million when bought by a Sydney buyer, who was in lockdown at the time of purchase.

The tower will rank as one of, if not the most expensive on the Gold Coast, not counting the smaller, boutique beachfront projects that might only rise five or six levels.

It’s not the first time Ignite boss Josh Foote has seen stellar results recently, having quickly knocked over his apartment development at Palm Beach.

They sold out Cabana, a collection of 32 beachfront apartment, in six weeks, one of the quickest sell-outs the Gold Coast had seen for a long time.

The Monaco Main Beach

The Monaco Main Beach 2-4 MacArthur Parade, Main Beach QLD 4217 

“The Monaco naturally took a little longer, given the near $5 million average apartment price”, Foote says.

“The buyer pool is considerably smaller, less than one per cent of buyers can spend that much.”

“The building is setting a new standard for the suburb, which is getting a well-deserved facelift thanks to the $205 million revitalisation of the Spit to turn it into the Gold Coast’s version of Hyde Park and a 300-berth marina at The Southport Yacht Club.”

The Monaco saw a mix of local buyers, and those interstate from Sydney and Melbourne, NPA Projects Director Andrew Erwin, who exclusively handled the sales, said.

“It will be a second home for a lot of the buyers, but some will be calling it home”, Erwin told Urban.

The Sydney-based buyer of the expansive two-level 630 sqm penthouse was impressed by the design and unrivalled location, and plans to use it for his ‘forever home’.

Construction is now underway by McNab Builders, with an estimated completion date of 2023.

Foote says there’s no surprise to see the heightened demand for the Gold Coast, which he expects to continue now the country has seen what locals have seen for years.

“It’s just all about lifestyle, 100 per cent”.

The developer worked on a few projects with a friend in his native Auckland before moving to the Gold Coast.

“It wasn’t the value of the Gold Coast that brought me here, it was the lifestyle, and then the value become apparent.”

Foote expects to be heading back to the Southern end of the Gold Coast for his next development, but like many in the industry, is finding it difficult to find a suitable site, for the right price.

“I like developing down there. It’s where I live, and it’s probably the most beautiful part of the Gold Coast.

“But it’s that competitive at the moment, it’s hard to find a site that will stack up. Land value is so high due to the demand for houses in desirable locations, even really old houses where an interstate buyer can knock down and rebuild and still see value.”

He reckons great sites with any development potential have nearly doubled in price in the last 12 months or so. Crazy times.

 

Article Source: www.urban.com.au

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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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