A Gold Coast beachfront double block has been sold by a Catholic religious order for the first time in half a century.
The 1A Fourth Ave, Palm Beach was sold by the Congregation of the Religious Sisters of Charity of Australia.
The Sisters of Charity have been operating since 1838.
The sale price is undisclosed but understood to be around $3 million.
The five-bedroom cottage was used as a holiday home on an 870sq m block with 22m of beach frontage was sold by McGrath Broadbeach agents John Natoli and James Ledgerwood.
It last was for sale 54 years ago.
Up-market beachfront homes in Palm Beach have fetched as much as $3.3 million this year.
McGrath marketed it has one of only six properties on Palm Beach with double beach frontages.
The median house price for Palm Beach Queenlsand is $600,000, according to CoreLogic RP Data.
Why Siera Group chose Chevron Island for Tapestry
To make the move from one property market to another is a huge step for any developer.
It often brings an element of uncertainty and unpredictability.
But the approach and due diligence by Siera Group’s Founder and Managing Director Brent Thompson will be one that will breed optimism over pessimism in to the market, compared to other developers who have been jumping head first into one of Australia’s most in demand pockets for the last two years and are now facing challenges.
The Brisbane-based boutique developer have not only taken on a new project type, but a completely new location, by venturing down to the Gold Coast to tackle the booming apartment sector.
Thompson, who has a highly regarded CV as a board member at the UDIA, as well being a prominent developer around Brisbane’s inner-ring for many years, spent six to 12 months splitting his time between Brisbane and the Gold Coast, understanding everything about the local market, what people were buying, and what was being developed.
The result is Tapestry, a 22-level arts-inspired apartment tower, designed to be in keeping with Chevron Island’s growing standing at the cultural arts hub of the Gold Coast.
“What drew us to this site for Tapestry was really Chevron Island itself and the fantastic community that is literally on the doorstep of Surfers Paradise, in the heart of the Gold Coast,” Thompson said.
“Chevron Island is a tight knit community with a high street full of cafes, restaurants and boutiques, as well as nearby links to HOTA, the home of the arts precinct, which is just across the Green Bridge and just a short walk from Tapestry.
“After all the research and understanding Chevron Island as a whole, it really felt like it was the perfect place to deliver a project like Tapestry, where we’ve created this phenomenal amount of amenity and beautiful residences that locals will be able to move into and downsize.”
Thompson said what makes makes Chevron Island so great, and not just the community piece, is the locality and how easy it is to access everything on the Gold Coast from Chevron Island.
“We’re only a short, flat walk into Surfers Paradise, where you’ve got the beautiful golden beaches as well as an immense amount of shopping and retail precinct.
“We’re seeing a great deal of gentrification though Surfers Paradise, as well as Chevron Island, as we’re seeing this increased densification of these areas.”
Tapestry has been designed by the local architecture firm BDA, whose brief was to merge art with architecture.
The result is a striking building of 113 apartments, featuring a mixture of vertical blade walls and horizontal slab edges which respond to available views and natural light.
The local aspect in the creation of Tapestry was one of the key focuses for Thompson.
Aligning with the Gold Coast City Council’s efforts to make Surfers Paradise an arts and cultural hub, Siera also engaged local artist Tania Blanchard to create a piece of artwork that will hang in the lobby when completed.
Article source: www.urban.com.au
Paradiso Place set to redefine living – Surfers Paradise, Gold Coast
Locals are dominating the apartment sales at Paradiso Place, the new premium residential precinct planned for an entire city block in northern Surfers Paradise on the Gold Coast, with Tower 1 of the three-tower mixed-use development instantly appealing to a couple who purchased two apartments.
Locals Martyn Shedd and Amy Degenhart purchased two apartments; one to occupy and a second apartment as an investment to accommodate visiting family and friends.
It’s a huge vote of confidence in Paradiso Place from the couple, who are directors of an award-winning architectural firm specialising in the urban design space.
After many months of due diligence, it was Paradiso Place that ticked off their long list of criteria for the ultimate oceanside apartments.
The $800million Paradiso Place is a landmark development of distinction being developed by SPG Land on an 11,483 sqm whole city block site between Surfers Paradise Boulevard and Ferny Avenue at the northern end of Surfers Paradise on the Gold Coast, consisting of three residential towers sharing a ground-level retail and dining plaza and a level one podium with extensive five-star, resort-style amenities.
“As an urban designer and architect, we have a full understanding of placemaking, so we are highly sensitive to the visual environment and what sets Paradiso Place apart for us is the way SPG Land is creating a village, not just apartment buildings,” Martyn and Amy said.
“We respond to the way spaces work and how people relate to them. This notion of living close to amenity you can walk to is important to us and the facilities provided at Paradiso Place are one of the main reasons why we chose to live there.
“The whole development has been really well designed to support lifestyles of the future. To have access to five-star resort amenities, a retail and dining precinct on the ground level, plus a whole floor within our own building dedicated to co-working spaces have been some of the driving factors behind our decision to purchase two apartments.
“The 2.95m ceiling height was another drawcard. We know how important the vertical space is and the floor-to-ceiling windows really capitalise on that. Not only does it feel more spacious, but there are practical aspects too, like extra cupboard space.
“Paradiso Place will also have a porte cochère and a separate surf entry, which were items on our wish list that we didn’t expect to find.
“We have no doubt that our apartment at Paradiso Place will be the right fit for us.”
Tower 1 of Paradiso Place offers 258 well-appointed one, two and three-bedroom apartments across 38 levels, with ocean views. One-bedroom apartments start at $525,000, two-bedroom apartments begin at $777,000, two-bedroom plus multi-purpose room apartments are priced from $1,248,000, and three-bedroom apartments from $1,549,000. Details on the two penthouses are yet to be released.
Luxury apartment marketing agency TOTAL Property Group is managing the apartment sales of Paradiso Place and has reported strong interest from a wide range of local buyers, along with interstate and overseas purchasers either relocating to, or investing in the Gold Coast.
“We are predicting continued growth for the Gold Coast this year with higher buyer and rental demand driving the market,” TOTAL Property Group Managing Director and Paradiso Place Marketing Manager Adrian Parsons said.
“The Gold Coast lifestyle is attracting a large migrating population as well as investors with their eye on hot property destinations now that international travel has returned.
“The apartments at Paradiso offer incredible value and are an affordable option for a premium apartment close to the beach with ocean views.
“SPG Land is setting new standards for lifestyle residential developments and has given a great deal of consideration to creating highly desirable living spaces with apartments in Tower 1 having ocean views and market-leading 2.95m ceiling heights in the living areas and 2.65m in the kitchen and bathrooms.
“The extensive amenity provided at Paradiso Place and in each of the three towers is indicative of SPG Land’s commitment to world-class innovation and revolutionary design of smart, efficient residential homes that offer high quality lifestyles.
“Paradiso Place presents an exceptional residential opportunity for apartment buyers looking to own a luxury apartment close to the beach, all with ocean views and the highest levels of amenity and walkability.”
More information on apartments at Tower 1 can be discovered at the expansive $4m Paradiso Place Sales Gallery that includes two full-scale apartments, a spacious grand foyer showcasing design features of Tower 1’s lobby and an impressive 2.5-metre scale model of the three-tower development.
A 60sqm immersion room and virtual tours of the Paradiso Place development enable purchasers to experience the views, location and SPG Land’s vision for Paradiso Place, while free onsite parking offers purchasers the opportunity to spend time exploring the full-sized apartments, quality of luxuriously-styled finishes and extensive amenities throughout Paradiso Place.
Article source: www.yourneighbourhood.com.au
Rents to rise in popular Gold Coast suburbs
TENANTS in two Gold Coast suburbs should prepare themselves for a potential rent rise, a new report has warned.
The quarterly HOOD.ai Tenant Report identified the top 20 locations across the state where landlords were likely to push up rents at their next rental reviews, with tenants in Paradise Point and Merrimac on the Gold Coast firmly in the firing line.
Renters in Paradise Point, most famous for its rich-lister enclave of Sovereign Islands, have been hit by a staggering 47.5 per cent rise in median rent in the past 12 months.
Second only to houses in Burrum Heads in Maryborough, which had in increase of 51.5 per cent.
The report shows that the median rent in Paradise Point is $745 a week, with vacancy rates remaining tight at 0.7 per cent, which is up from $505 a week and a 0.9 per cent vacancy rate in 2021.
In Merrimac, which scraped in at No. 20 on the list, the median house rent has hit $650 a week this year, up from $520 in 2021, a rise of 25 per cent. The suburb’s vacancy rate has dropped from 0.7 per cent to 0.4 per cent.
HOOD.ai founder and CEO Tommy Fraser said the report highlighted the issue of rental affordability.
“Paradise Point has seen vacancies tighten over the past 12 months, perhaps because it’s such a prestigious waterside suburb,” Mr Fraser said.
“This is driving rental prices higher.
“Moving a few suburbs away won’t offer any reprieve, with the wider market seeing rental increases of 25 per cent for houses and 14 per cent for units in the past 12 months.”
“It is hard to see things easing in the short-term, with very few building approvals in the pipeline for houses or units.”
“Vacancy rates are low in many parts of Australia, and often falling as well, which is putting upward pressure on rents.”
To make sure every suburb had a legitimate rental market, suburbs were excluded if they had fewer than a total 500 properties and if rental properties made up less than 10 per cent of the total housing stock.
Suburbs were then ranked based on the highest change in suburban rental rates during the previous 12 months.
Property research consultancy Suburbtrends supplied the data.
Top 20 locations in Qld where landlords are likely to push up rents.
1. Burrum Heads, Houses
2. Avoca, Units
3. Paradise, Poin, Houses
4. Chelmer, Houses
5. Chuwar, Houses
6. Pomona, Houses
7. Beerwah, Houses
8. Gympie Unit
9. Bungalow Houses
10. Black Mountain, Houses
11. Corinda Houses
12. Yeppoon Houses
13. Jindalee Houses
14. Karana Downs Houses
15. Jones Hill Houses
16. Peregian Springs Houses
17. Tin Can Bay Houses
18. Hawthorne Houses
19. Montville Houses
20. Merrimac, Houses
Article source: www.realestate.com.au
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