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Aged Care Development on the Gold Coast Ramps Up

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Aged Care Development on the Gold Coast Ramps Up

ASX-listed retirement developer Aveo has received approval for a 16-storey retirement tower on the Gold Coast, with construction set to begin before the year is out.

The Gold Coast City Council approved the $62.5 million tower in the suburb of Labrador, with the development set to accommodate 96 one-, two- and three-bedroom units for more than 150 seniors.

The tower, located on a 2014 square metre site in Frank Street, will offer a heated pool, gym, sauna and community room with dining and bar facilities and consultancy rooms for visiting health professionals.

Aveo Group chief executive Geoff Grady said the vertical living concept allows residents the convenience of living in a beachside postcode with access to care and health services.

“The needs of today’s retirees are changing and we know that our future residents won’t want to leave their familiar suburban areas – they’ll want to remain connected in their local community when they choose to retire,” Grady said.

The project is Aveo’s sixth retirement development on the Gold Coast.

Aged Care Development on the Gold Coast Ramps UpAged care provider Japara is developing a $30 million six-storey facility on the Gold Coast.

Construction under way on Japara aged care project

Another publicly-listed aged care provider, Japara has commenced construction on a $30 million aged care facility in the Easy T precinct of Gold Coast’s Robina.

The six-storey facility will accommodate 106 beds across nearly 7000sq m and is anticipated to open in mid-2019.

Japara chief executive officer Andrew Sudholz said the project had been chosen because of its proximity to the Robina CBD.

“The site provided Japara with a rare opportunity to secure a parcel of land in an area of significant demand, with proximity to major infrastructure, such as Robina Town Centre and Robina’s health precinct – including public and private hospitals,” he said.

Japara’s new $30 million facility neighbours the recently sold Easy T Centre, anchored by a Spano’s Supa IGA supermarket and 40 speciality retailers.

The centre was acquired by Clarence Property for $31.6 million in 2006 and sold last month to a Gold Coast-based investor for $35.8 million.

Gold Coast’s billion-dollar aged care boom

Recent data by the Housing Industry of Australia revealed that the Gold Coast’s retirement community will inject $3.5 billion into the city’s economy over the next five years.

ABS figures showed that the number of over-65s living in the Gold Coast jumped 28 per cent between 2011 and 2016.

Meanwhile, a post-Commonwealth Games development pipeline of $30 billion will help meet the Gold Coast’s projected growth, with recent research by Ray White Surfers Paradise and Urbis suggesting that the post-GFC lull was well and truly over.

“As a result of the hiatus in development, we’ve had rental vacancy rate sitting at around one per cent for some time as well as significant pent-up demand for residential land in many areas of the city,” Ray White Surfers Paradise chief executive Andrew Bell said.

Source: theurbandeveloper.com

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Developments

ASF Group Lodge Application for Super Slim Surfers Paradise Skyscraper

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gold coast skyscraper
gold coast skyscraper

The developer of the failed $3 billion casino bid at the Gold Coast spit has lodged a development application for a super-slim beachfront skyscraper on Garfield Terrace in Surfers Paradise.

The ASX-listed ASF Group submitted the proposal for 50 luxury residential units across 31-storeys on a tight 607sq m site.

The proposed tower will comprise 46 two-bedroom apartments, three sub-penthouses (four-bedroom apartments) and just one five-bedroom, ultra-prestige, three-storey penthouse.

ASF acquired the site in early 2016 for $4,860,000, signing on architecture firm Blight Rayner and landscape architecture firm Byrns Lardner to steer the landscape-heavy design.

The main pedestrian entrance to the tower will be via Thornton Street, with communal recreation facilities including a yoga room, gym, club lounge and outdoor “infinity” pool proposed for the ground floor.

The building will feature an “automatic valet parking” system, with an operable lift taking just 86 seconds to store a car after a driver exits the vehicle.

The addition of the car parking system will allow the developer to more than double the amount of car parking spaces on the small 600sq m site.

If approved, the 104-metre tower site will be one of four 30-plus storey towers approved by council within a one kilometre radius of the site.

gold coast skyscraper

The proposed tower neighbours the Northcliffe surf club and offers absolute beach front access.Image: Blight Rayner

A number of luxury residential projects are under way close to ASF’s Garfield Street proposal, as developer’s respond to the growing demand for larger apartments on the Gold Coast.

The development application pointed to continual renewal south of the Surfers Paradise centre – led by Yuhu Group’s Jewel – as the “centre zone of Surfers Paradise grows”.

“A series of approved towers, up to 30 storeys, are positioned within the precinct of the proposed site,” the application said.

Yuhu Group’s $1 billion luxury Jewel development reached topping out stage in mid-August.

ASF Group’s Australian projects include the “Au” towers in Surfers Paradise and Southport, a 4-star beachfront hotel at Main Beach and the masterplanned three-stage Peninsula Hope Island community.

In London, ASF has proposed the $9 billion Castle Green urban renewal project which, if approved, will include the building of 15,000 dwellings and 370,000sq m of commercial, retail and community buildings.

The tower will cost an estimated $35 million to build and will aim for a 4 Star Green Star rating.

Source: theurbandeveloper.com

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Developments

Multi-Million Revamp of Burleigh Beach Pavilion Under Way

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Multi-Million Revamp of Burleigh Beach Pavilion Under Way

Work is under way to restore and future-proof Burleigh’s iconic beachfront pavilion.

The $9 million renovations will extend the second floor dining space further out towards the ocean, effectively doubling the floor space with an extra 150sq m and catering for up to 600 customers.

New owners, Sydney hoteliers Ben May and Robert Magid purchased the Gold Coast’s Burleigh Pavilion back in 2016 for $10.5 million.

The purchase came in the wake of Cyclone Oswald which caused significant damage to the restaurant in 2013.

To future-proof the building, windows will now be able to be detached to allow the sea in, reducing damage to the exterior facade.

Long term tenant Rick Shores are currently undertaking their own renovations with service set to resume towards the end of August.

The refurbished, yet-to-be-named restaurant on the pavilion’s second floor, will be helmed by acclaimed Sydney chef Guillaume Zika.

The developer, May Hotels, have insisted the new venue will be accessible to all and price accessible, with patrons encouraged to “enjoy the best location on the coast in your boardshorts for the cost of a beer or a burger”.

New showers have also been proposed to allow diners arriving right after a surf or a swim.

May Hotel’s portfolio currently includes Manly Wharf Hotel, Mrs Sippy Double Bay, Pier One Sydney Harbour and The Harbour Rocks Hotel as well as The Lindrum Hotel in Melbourne.

Construction is marked for completion December 2018.

Source: theurbandeveloper.com

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Developments

Airport space hot property on the Gold Coast

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Airport space hot property on the Gold Coast

Airport Central is proving a top destination for Gold Coast businesses with a raft of new tenants joining the Gold Coast Airport commercial mix.

Two new tenants have recently taken space at the already bustling precinct, with childcare operator Edge Early Learning and inTechnology Distribution signing up to an area that boasts a university, shops, a petrol station, cafes, tech companies – and a busy aviation business.

Edge Early Learning, which was established in 2017 and already has five centres in Brisbane and another at Pimpama, has taken a 1,686sq m space at Airport Central.

The centre will open later in the year, employing about 30 local staff with capacity for 122 children.

Technology distribution and training company inTechnology Distribution, has taken a five-year lease on a 309sq m space with the ability to quickly move from desk to plane a key attractor.

Owner and tech entrepreneur Mark Winter said his clients could comfortably travel up from Sydney or Melbourne for a business meeting and be onsite at inTechnology a few minutes later, with no car ride needed.

“We’re a global technology distributor, so our clients and staff are frequent travellers,” Mr Winter said.

“From that perspective the airport location was a no-brainer. There are also great accommodation options nearby, for people staying overnight and the proposed Rydges Hotel at the airport will be great for accommodation and entertaining within a short walk from our office.

“The southern Gold Coast is coming into its own, and there is a great commercial mix with good amenity in the airport precinct.”

Edge Early Learning CEO Annie Bryce said the phone had started ringing and emails arriving before the ink dried on the lease.

“We put the feelers out to local businesses – the airport obviously and Southern Cross University, which has a high proportion of mature age students,” she said.

“We saw a gap in the market in that location, and the response confirms there is significant demand on the southern end.”

Queensland Airports Limited Executive General Manager Property and Infrastructure Carl Bruhn said Edge Early Learning an inTechnology had both sought a strategic location in a growing commercial area.

“They are in the heart of the southern Gold Coast, with big businesses and a strong residential catchment on their doorstep,” he said.

“Factoring in other major leasing deals in the pipeline, Airport Central is close to full occupancy.”

Airport Central is owned and occupied by Queensland Airports Limited and sits on 1.78 hectares, with more than 230 car parks. Tenants include Volcom, Freedom Fuel, Subway, Innovation Tank and InTechnology.

Limited office and retail space remains at Airport Central, with leasing rates ranging from $335 to $400/sq m.

About 1,014sq m of a-grade office space is also available in the nearby Ivy Pearce building, which has the Australian Federal Police as a key tenant.

Source: goldcoastairport.com.au

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