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Find out what’s tipped to define the Gold Coast market in 2018

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Find out what’s tipped to define the Gold Coast market in 2018

THE GOLD Coast is known for its glitzy property appeal but a more solid foundation is tipped to define the market in 2018.

Property experts say infrastructure in the northern and central suburbs will contribute to an already booming market, buoyed by the buzz of the Commonwealth Games.

The Coomera Town Centre under construction. Pictures: Westfield. Source: Supplied

The Coomera Town Centre under construction. Pictures: Westfield. Source: Supplied

Artist impression of the Westfield Coomera Town Centre. Supplied by Westfield Source: Supplied

Artist impression of the Westfield Coomera Town Centre. Supplied by Westfield Source: Supplied

“I think the continued large amount of private enterprise infrastructure like the Westfield Coomera Town Centre, Sunland development at Mermaid Waters and The Star Gold Coast with its part-hotel, part-residential works will expand those areas,” newly appointed REIQ Gold Coast zone chairman Andrew Henderson said.

CoreLogic’s latest data to October 2017 revealed the median house price on the Gold Coast jumped 7.7 per cent in 2017, almost twice as fast as the national average.

Mr Henderson predicted prices wouldcontinue to increase, thanks to a seller’s market in the central suburbs.

REIQ Gold Coast zone chair Andrew Henderson. Picture: Jerad Williams Source: News Corp Australia

REIQ Gold Coast zone chair Andrew Henderson. Picture: Jerad Williams Source: News Corp Australia

“Most of the housing development is in the northern corridor, leaving the vast majority of the Gold Coast with existing stock to purchase in the central areas,” he said.

He said a wave of beachfront apartment developments was expected to be snapped up by locals wanting a sea change, and by savvy investors.

The CoreLogic report showed a 12-month increase of 3.7 per cent for median unit sales on the Coast.

“In terms of looking ahead, interstate migration is quite strong, jobs are very strong, there’s a significant amount of spotlight on the Commonwealth Games and then the infrastructure is a massive drawcard to keep bringing people in.”

It comes as $40 million worth of property is set to go under the hammer in a single day next week, at Ray White Surfers Paradise auction bonanza The Event.

Auctioneer Andrew Bell at work at The Event in 2017. Picture Glenn Hampson Source: News Corp Australia

Auctioneer Andrew Bell at work at The Event in 2017. Picture Glenn Hampson Source: News Corp Australia

RWSP CEO Andrew Bell predicted an influx of southern buyers, heralding the current climate as “the return of the holiday-maker”.

“We have truly been swamped, and there is no better word than swamped, with buyer inquiry,” Mr Bell said.

“The record numbers of people holidaying here on the Gold Coast has seen record levels of buying interest, and sales have been happening left, right and centre. If you had to use one word to sum up inquiry post-Christmas, it is Sydney,” Mr Bell said.

Originally published: www.news.com.au

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Developments

Bassar Group Wins Approval for Gold Coast Skyscraper

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Bassar Group Wins Approval for Gold Coast Skyscraper

The proposed site, on the corner of Surf Parade and George Avenue, is the amalgamation of two sites purchased in mid-2017 for $7 million.

When realised, the tower will comprise 194 bedrooms across 61 apartments with 105 on-site car parks, 82 bicycle parks and ground floor retail space.

The development application, which was submitted to the Gold Coast City Council mid-2018 has now been approved with no changes.

The tower will now replace two existing two-storey unit buildings which date back to the 1960s.

Approval for Gold Coast Skyscraper

The project, designed by Malaysian-Australian architecture firm BDA, will sit within close proximity to the Casino precinct, Pacific Fair and the Broadbeach light rail station.

Construction for the 123-metre-tower is scheduled to commence in August.

The Gold Coast has experienced a wave of new development applications over the recent months.

In December, Sunland Group lodged plans for a 16-level boutique apartment project in Labrador while ASX-listed ASF Group submitted plans for 50 luxury residential units across 31-storeys at Surfers Paradise.

A number of projects have also launched including Marquee Development Partners $35 million boutique residential development at Chevron Island as well as Sunland Group’s $250 million high-rise development on Hedges Avenue in Mermaid Beach.

Melbourne-based developer Optimus Developments has also kicked off construction on its $65 million luxury residential development at Broadbeach while Western Australian developer Pindan has launched its first Gold Coast project to market at Mermaid Beach.

 

Source: theurbandeveloper.com

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Developments

Star Unveils Plans for Broadbeach Concert Venue

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Star Unveils Plans for Broadbeach Concert Venue

Star Entertainment Group has unveiled plans for an open-air concert venue across the road from its hotel at Broadbeach.

The Gold Coast, experiencing a tourism resurgence after hosting the Commonwealth Games, is the new home of the TV Week Logie Awards, which moved from Melbourne last year, and will now become home to Star’s new outdoor arena.

The proposal outlines plans to develop an area that is currently vacant canal-front land on the corner of the Gold Coast Highway and T E Peters Drive.

The one hectare Gold Coast Bulletin Centenary Park, which recently received a $1 million makeover in the lead up to the Commonwealth Games, will now be further activated to accommodate a stage and up to 1,500 people.

If approved, the venue would be able to host events from full-scale concerts and family-friendly picnic events such as Carols at Christmas, to smaller offerings like string quartets.

Broadbeach Concert Venue

“We have spoken to a lot of people well-connected to the music industry,” Star Entertainment Group chief executive Matt Bekier said.

“An outdoor venue that can stage concerts of small and large scale would drive great cut-through and further enhance the Gold Coast as a music destination.”

Star have said they will now approach a range of stakeholders including the City of Gold Coast Council, Broadbeach Alliance and entertainment specialists to consider the best way forward for the open-air concert venue.

“We want this to be an asset the local community will embrace as part of the fabric of the city,” Bekier said.

“What a wonderful example of the Gold Coast lifestyle to be able to listen to concerts across the water, whether it’s rock, jazz, classical, or an event that appeals to all ages.”

No stranger to the Australian music landscape, Star has supported the Blues on Broadbeach festival and hosted the Country Music Awards

The venue concept comes two months after the entertainment group was granted approval for its $2 billion plus masterplanwhich includes a $850m redevelopment of The Star Gold Coastand development of the new Dorsett hotel tower.

The joint venture between Star Entertainment Group and Hong Kong-based partners Far East Consortium and Chow Tai Fook Enterprises will take 10 years to complete.

“The masterplan in its entirety would see The Star Gold Coast boast more tourism accommodation than any other resort in Australia,” Bekier said.

 

Source: theurbandeveloper.com

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Developments

Local Artist Submits Application for 20-Storey Surfers Paradise Tower

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20-Storey Surfers Paradise Tower

Gold Coast sculptor and film-set designer Liam Hardy has submitted an application to develop a 57-apartment tower in Surfers Paradise.

Hardy will be developing the project — with wife Yvette — on a 1013sq m amalgamated site on the corner of Oak and Birt Avenue.

The site is currently occupied by a three-storey multi-unit dwelling and a single-storey house that will make way for the new proposal.

The Hardy’s have owned the lot with the single dwelling for over eight years and recently pounced on the opportunity to purchase the neighbouring lot when it went up for sale.

Application for 20-Storey Surfers Paradise Tower

Located within 400 metres of the beach and light rail, the development sits in an ageing part of Surfers earmarked for regeneration.

The proposal has received praise from city council planning boss councillor Cameron Caldwell, who says the “unique” design will go a long way to regenerating a part of Surfers Paradise that’s been “crying out for renewal for many years”.

“This development is a unique statement piece on the surfers paradise skyline,” Caldwell told The Urban Developer.

“The site is well located near the lifestyle of Budds Beach village as well as the light rail network.

“The high-quality design in a boutique apartment development is aimed at meeting a growing demand in Gold Coast living.”

Local Artist Submits Application for 20-Storey Surfers Paradise Tower

The project, which comprises 57 units across 17-storeys will consist primarily of three-bedroom apartments and features four penthouses.

According to developer Liam Hardy, the decision to stack the development mix with three-bedroom apartments was driven by a market opportunity to service owner-occupier families and down-sizers wanting bigger units with plenty of storage.

“People are wanting larger, more liveable apartments that they can trade their traditional free-standing house in on,” Hardy told The Urban Developer.

The largest of the four penthouse apartments will comprise four bedrooms within a 509sq m layout, which includes a 143sq m roof terrace with its own private pool.

Public amenity offered on level nine of the proposal includes a gym, formal dining space, cinema room that opens as an outdoor cinema and “skygarden” with bbq and dining facilities.

Paradise Tower

Designed by Gold Coast-based BDA Architecture, the boutique residential project seeks to incorporate aspects of Hardy’s work as a sculptor and film-set designer.

According to Hardy, he worked close with the architect to achieve the buildings unique form.

“I gave Darren from BDA the brief of creating asymmetrical forms that have a purpose, no complicated curves and apartments angled to capture the spectacular views and he has done precisely that,” he said.

Hardy’s work extends from creating sets on major motion pictures through to bronze sculptures of Queensland’s sporting icons.

Having worked on Peter Jackson’s The Hobbit, attractions at Tokyo Disney and most recently a futuristic private residence at Point Danger, Hardy intends to fold his artistic background into the project.

20- Storey Paradise Tower

The most notable inclusion of public art will be a pair of giant hands made of concrete built into the buildings entrance.

“In this instance, every time a resident or guest enters the building through the foyer, they will feel welcomed and embraced.

“The residents may feel that their building is more than just concrete forms and glass,” Hardy said.

Hardy says the art in the public foyer is a personal work for him and something he sees as both original and valuable to the coast.

“Spreading monumental works throughout the city will connect us and start to tell our unique story of the Gold Coast.”

The developer hopes to commence construction mid next year pending development approval.

 

Source: theurbandeveloper.com

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