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Gold Coast apartment insights: What happened on the Gold Coast in November

Gold Coast apartment insights

New apartment sales on the Gold Coast also hit an all-time high, officially making 2021 the hottest market since Urbis began monitoring the sector

Ray White Sur​fers Paradise Managing Director And​rew Bell reckons the Gold Coast market is now level pegging with other markets in Australia.

“With a higher degree of owner occupiers now in apartments, we are now on level pegging with other markets in Australia and it will contribute to the old boom and bust scenario on the Gold Coast,” Bell says.

Further reports from property consultancy firm Urbis are showing stock is tightening even further.

In September they advised there would be only four months worth of stock if there were to be no new project released, and based on current demand. That figure has been revised to just over two months of stock.

New apartment sales on the Gold Coast also hit an all-time high, officially making 2021 the hottest market since Urbis began monitoring the sector.

The number of apartment sales for the September quarter surged to 690, bringing the total of new apartments sold on the Gold Coast in the first nine months of this year to 1,882.

Owner-occupiers continue to account for the majority of sales, totalling 61 per cent in the September quarter.

Urban has wrapped up all of the moves on the Gold Coast over November.

BeckDev set for Palais, Coolangatta apartment development 

The development of the small Gold Coast enclave of Coolangatta is set to continue, with the Melbourne-based BeckDev lodging plans for a new apartment tower.

The $130 million Palais, named after the Jazzland Dance Palais that has stood on the 2,355 sqm site since the 1930s, will have 175 one, two and three-bedroom apartments, as well as resident facilities and a street-level plaza with retail space.

Morris Property Group set for Burleigh apartment tower after site purchase

Gold Coast apartment insights

Morris Property Group, the popular Canberra and Gold Coast developer, has landed its next apartment development.

It’s in the hot Burleigh Heads market, where MPG, headed by development veteran Barry Morris, has secured a 2,024 sqm double block at 1873-1875 Gold Coast Highway.

They’ve paid $12.9 million for the site, just 300 metres from the Burleigh entertainment and lifestyle precinct. MPG plans a development comprising predominantly two-bedroom, two-bathroom apartments to provide housing more affordable to a broader section of the community.

Mirador apartments launched on Chevron Island, as apartment numbers gets halved0

Gold Coast apartment insights

Mirador, Chevron Island 8 Mawarra Street, Surfers Paradise QLD 4221 

Citimark has cut more than half of the apartments that have now been launched in their contemporary Chevron Island apartment development, Mirador.

The South East Queensland apartment developer is seeking to chop the 164 apartments down to just 71 in the development, which will take the offering to a more high-end standard with larger apartments.

There will be a mix of two, three and four-bedroom apartments, including the podium level Terrace Apartments, and the 17th level Sky Homes. Prices will start from $690,000, and range to $2.4 million.

Iris Capital’s $800 million Victoria & Albert, Broadbeach apartments set for launch

Victoria & Albert

Victoria & Albert 12-18 Albert Avenue, Broadbeach QLD 4218 

The Sydney-based developer Iris Capital is getting closer to unveiling its debut $800 million Gold Coast apartment development, Victoria & Albert Broadbeach.

The two towers, designed by DBI Architects over a subtropical recreational podium, will home over 400 apartments, two levels of premium offices and commercial facilities and a fresh food and dining retail on the street level.

Designed for the coastal environment, V&A will comprise a mix of one, two and three-bedroom apartments on the lower levels, while the upper residences will offer a mix of three-bedroom apartments, with both towers topped by sub‐penthouses and penthouses.

Turrisi Properties get sign off for mid-century, tropical modernist Broadbeach apartment development 

Broadbeach’s next apartment tower is set to come from Turrisi Properties, who has received sign off for their first Gold Coast apartment project.

The development, at 9-11 Armrick Avenue, will home 84 apartments across its 22 levels, a mix of two and three-bedroom apartments, as well as a small collection of four-bedroom penthouses, each set to have their own rooftop decks with a spa, kitchen, living and dining facilities.

Broadbeach set for new 45-level, Ferro Chow-designed apartment tower 

The burgeoning Broadbeach is set for another high-rise apartment development, as developers continue to try and keep up with the high demand for luxury product in the area.

Plans have been filed by Ferro Chow Architects for a 46-level tower at 99-101 Old Burleigh Road, on the corner of Armrick Avenue and across the road from Broadbeach Park.

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

The AU set to launch 14 luxury oceanview sky home apartments Surfers Paradise

The AU Surfers Paradise

The AU Surfers Paradise 52A The Esplanade, Surfers Paradise QLD 4217 

The Esplanade is one of the Gold Coast’s most sought-after strips of beachfront real estate, stretching over 1.5 kilometres across the beachfront, from the entry to Main Beach to the north, to the south where it becomes North​cliffe Terrace.

There’s been little in the way of apartment development in recent years. There’s Soul, one of the area’s most well-known apartment buildings which is approaching 10 years built, and Merit​on’s 400 plus apartments at Ocean, currently under construction.

But now the dress circle street is set for something completely different to what has been seen in decades.

The AU, a collection of just 12 exclusive full-floor oceanview sky homes and two opulent three-level penthouses, is set to launch, giving the strip an incomparable offering.

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

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.

 

Article Source: www.urban.com.au

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Developments

Developer Tests Depth of Albion Apartment Market

Albion Apartment Market

Arden Property Group has lodged plans for an eight-storey apartment tower next door to its Jade apartments development on Burdett Street at Albion.

Euroa is a 76-apartment development on a 2676sq m site, which the developer bought in 2017 for $3 million.

The Altis Architecture-designed tower is on the corner of Burdett Street and Crosby Road, with views over Crosby Park, a proposed Olympic sporting precinct for the 2032 Games.

According to planning documents the development pays homage to the industrial history of the site and the Albion precinct.

“The proposed design has taken a sensitive approach in respecting the industrial heritage significance of the existing site,” the report said.

“The distinct angular roof form and brick palette of the existing industrial building have been reflected in the proposal by incorporating brick feature walls and overclad elements along the street frontage within the planting areas.”

The tower would comprise 19 one-bedroom apartments, 22 two-bedroom apartments, and 35 three-bedroom apartments with a communal rooftop area for residents with a rooftop pool, daybed area, and lounge and views over Brisbane’s evolving skyline.

The architectural design statement said the design outcome would improve street activation, as well as complement and enhance the medium density typology of Albion and leave a “compelling and long-lasting legacy of architectural expression”.

Hoarding has been up on the site for some time, and it comes off the back of Arden Property Group’s four-building 369-apartment Jade development next door.

Arden Property Group’s Jade development won approval in 2014, and was the first major residential development in Albion’s industrial precinct.

Meanwhile former FKP executive director Philip Parker owns a significant stake in the Albion precinct, with storage sheds on Burdett Street and industrial sheds fronting Crosby Road in his portfolio.

 

Article source: www.theurbandeveloper.com

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Brisbane

Brisbane’s Office Market Greenlit for Business

Brisbane’s Office Market

Brisbane’s office market continues to shake off the pandemic doldrums with two new commercial towers approved in the CBD and fringe suburbs.

Property owner PGIM and development partner Indema’s plan for a bold adaptive reuse of a 1970s commercial building at 444 Queen Street has won approval.

The bronze 22-storey tower opposite Customs House will be stripped back to its core structure and completely remodelled with a new podium, curtain wall facade and an additional two-storey sculptural canopy.

Indema director Michael Bruderlin said they would be targeting a net zero certification for the building upon completion in the first quarter of 2024.

Bruderlin said Hutchies had been engaged in an early contractor design and construct contract to help de-risk the project and better understand the technical requirements.

The Fender Katsalidis-designed tower follows in the footsteps of another of its commercial adaptive reuse projects in Brisbane, Ashe Morgan’s Midtown, now the headquarters for Rio Tinto.

Bruderlin said retaining and repurposing the existing building is 400 per cent more environmentally friendly. Retaining the existing concrete structure provides a 70 per cent saving in embodied carbon.

The project will rejuvenate a 48-year-old building at the end of life into an A-grade commercial office asset and increase the net leasable area 40 per cent.

Bruderlin said the project would have a quicker turnaround than a normal demolish and build project and it would use clever design initiatives to increase floor plates and create a better value proposition for the asset.

PGIM purchased 444 Queen Street for $54.4 million from the Public Trustee of Queensland and Abacus Property Group in October last year.

Cornerstone has also won approval for a commercial development in the city fringe suburb of Fortitude Valley.

The Bureau Proberts-designed tower will capture the heritage brick character of the Fortitude Valley centre “borrowing from the intent of these buildings but with a stridently different and contemporary expression”, planning documents said.

“This approach is a deliberate counterpoint to the strong and solid brick structures of the immediately adjacent 47 Warner Street and McWhirters buildings.

“Brickwork or masonry is not used as a material in deference to these neighbouring buildings allowing them to become more evident and make a clear statement about the era of their inception.”

The 28-storey commercial tower at 251 Wickham Street features a stepped slanting facade fronting Warner Street, with a four-storey lobby, and an inverted podium.

There will also be a rooftop terrace, 20m pool and open-plan gym in the commercial tower, with retail offerings at the base of the building.

Brisbane’s metropolitan office market vacancy was at 16.3 per cent at the end of March and there were few transactions across the quarter, according to Colliers research.

But yields remained steady, and well above other capital cities, while incentives remained stagnant at 40 per cent.

 

 

Article source: www.theurbandeveloper.com

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Developments

‘Best of everything’: approval granted to fantastic farm that will give Coast a brand new flavour

approval granted to fantastic farm, Barns Lane Farm

A new agri-tourism venture is set to showcase the ‘best of everything’ from the region, with a huge Produce Hall trading seven days a week.

Coolum Beach will become home to one of the largest tourism destinations on the Coast, with Sunshine Coast Council giving development approval to Barns Lane Farm.

The farm will be set across 6.8 hectares and centre around a paddock-to-plate experience.

It will showcase Sunshine Coast goods and connect locals and tourists with the hinterland.

The 2000sqm Produce Hall will trade daily and house more than 50 short-term and long-term stallholders.

Barns Lane Farm co-founder and developer Jason Grant said it was a great chance for locals to showcase their wares.

“The Produce Hall will provide a never-before-seen opportunity for local producers, without being subjected to trading restrictions and weather conditions,” he said.

“It will offer multiple connections to the market including selling direct to the public and supplying on-site restaurants and vendors.”

Co-founder Helen Grant said there would be several features at the complex.

“It caters to the many tastes and needs of families and foodies,” she said.

“Other attractions include a distillery, brewery, dining, adventure play areas, animal farms, tours, a performance stage and much more.”

The news has been welcomed by tourism, industry bodies and local stakeholders.

Visit Sunshine Coast CEO Matt Stoeckel said the farm would provide a significant boost to the region.

“There is a huge demand for agri-tourism experiences,” he said.

“The new product will go a long way in cementing our profile as a leading agri-tourism destination.”

Coolum State School Principal Anthony Ryan said the farm would bolster the local community.

“Having this on our doorstep is really exciting,” he said.

“We’ve already implemented Barns Lane Farm themes into our curriculum, and we look forward to furthering partnership opportunities.”

It’s expected that Barns Lane Farm will create more than 170 full-time equivalent jobs across a range of industries and provide vast community and educational opportunities.

Barns Lane co-founder Jonathan Leishman said the region’s agri-business would continue to develop.

“We’re growing and supporting local in every sense of the word, including through our Joint Venture with (venture studio) Josephmark for the Agtech incubator Dirt Lab, which will nurture local innovation,” he said.

Construction will start soon, with the opening set for mid-2023.

Future stages include a 26-room boutique hotel suite and a 150-seat function venue, ideal for rural destination weddings and events.

Barns Lane Farm key features

  • Site size: 6.8 hectares
  • More than 170 full-time equivalent jobs expected
  • Will connect locals and tourists with the hinterland
  • Restaurants and cafes offering paddock-to-plate experience
  • More than three hectares of productive garden beds and orchards
  • 2000sqm seasonal Produce Hall with 50 short and long-term stallholders
  • Agri-tech Incubator, ‘Dirt Lab’
  • Events centre and boutique accommodation
  • Music and arts space
  • Distillery and brewery

 

 

Article source: www.sunshinecoastnews.com.au

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