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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

Four Towers Added to $2bn Broadbeach Masterplan

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Four Towers Added to $2bn Broadbeach Masterplan

Four Towers Added to $2bn Broadbeach Masterplan

The Queensland government has approved four more towers for the Destination Gold Coast Consortium’s Broadbeach masterplan.

The Destination Gold Coast Consortium — a joint venture between Star Entertainment Group and Hong Kong-based partners Far East Consortium and Chow Tai Fook Enterprises will now undertake a 10-year construction phase to complete the master plan.

The newly added towers will create 3,000 new hotel rooms and will range in height between 52-74 storeys.

On completion, Star Gold Coast will be home to more than 50 bars and restaurants and employ 6,000 people in total.

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

“The 3,000 hotel rooms and apartments would also exceed what the world-renowned Marina Bay Sands in Singapore offers, and be on a scale to compare with the largest integrated resorts in Las Vegas.”

 

The first phase of the overall masterplan’s five new towers was approved in December 2016 and is currently under construction.

Construction recently began on the site’s third hotel tower, a $400 million project containing 316 guest rooms.

The 53-storey tower will be home Australia’s first Dorsett hotel as well as Star Residences, set to open in 2022.

“In addition to The Star Grand, The Darling and The Dorsett hotel tower, our expanded masterplan provides the opportunity for another four towers and world-class facilities,” Bekier said.

An estimated 1,800 jobs will be created to build each of the four remaining towers, totalling 7,200 construction jobs.

A further 3,000 people will be employed operationally across the four new towers.

“This state government stamp of approval gives The Star and its partners the opportunity to lift The Star’s profile with international tourists to even greater heights,” Premier Annastacia Palaszczuk said.

All seven towers are estimated to be complete by 2028, with the Consortium outlining plans to build one new tower at its Broadbeach island site every two years.

Star is also undertaking the Queen’s Wharf Brisbane transformation combining their tourism assets within Queensland to $9 billion.

Source: theurbandeveloper.com

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Developments

Developer Launches 25-Storey Mermaid Beach Tower

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Developer Launches 25-Storey Mermaid Beach Tower

Developer Launches 25-Storey Mermaid Beach Tower

Developer Launches 25-Storey Mermaid Beach Tower. Western Australian developer Pindan has launched its first Gold Coast project to market at Mermaid Beach.

Developer Pindan has been an active player on Australia’s east coast over the past five years, with its funds management arm, Pindan Capital, overseeing $1.7 billion of development projects.

Its latest venture, a $110 million residential tower known as Mahala, will boast 94 spacious two and three bedroom apartments with two car bays, across 25-storeys.

The Cottee Parker designed residential tower, located on Peerless Avenue, will overlook Hedges Avenue, known colloquially as “millionaires row”.

The new tower will feature resort-style amenities including a terrace pool, residents lounge, private dining room along with a secure grocery and parcel delivery facility.

A rooftop solar farm system will allow residents to benefit from cheaper energy costs and lower strata fees.

 

Developer Launches 25-Storey Mermaid Beach Tower

Developer Launches 25-Storey Mermaid Beach Tower

“Mahala offers features you would expect in a private beachside home, a beautiful entry, and even a secure drop-off facility for residents who like to have their groceries, wine or other shopping items delivered,” Pindan director Nick Allingame said.

The tower sit just south of Sunland’s $200m, 45-storey tower which is currently on the market.

Colliers International residential director Andrew Roubicek said there had been well over 500 enquiries from prospective purchasers living locally as well as from Brisbane and interstate.

“Locals who are looking to make Mahala their home are saying the fact the vast majority of apartments are being sold with two carparks is a big drawcard, along with the prime location close to Hedges Avenue,” Roubicek said.

Pindan received planning approval in late July, with early construction work now commencing on site.

Source: theurbandeveloper.com

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Developments

Ridong Unveils Plans for ‘World Class’ Gold Coast Tourism and Wellness Retreat

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gold coast tourism
Chinese developer Ridong, the original developer of the Gold Coast’s $1 billion Jewel project, has lodged plans for a “wellness and tourism retreat” in Tallebudgera Valley on the Gold Coast.

The $60 million proposal seeks approval for a six-star, 98-room key resort, 113 residential dwellings, a 16-hectare man-made lake and a contemporary European art and sculpture gallery modelled off Tasmania’s Museum of Old and Modern Art (MONA).

In plans submitted to the Gold Coast City Council in late September, Ridong has also proposed a 3-storey health and wellness centre with a day spa, a waterfront chapel for wedding services, two conference centres and three restaurants.

Chairman of the Ridong Group, Riyu Li, began acquiring parcels of land in Tallebudgera Valley in 2014.

The “wellness and tourism retreat” will cover sites owned by Li on Tallebudgera Connection Road and Tallebudgera Creek Road.

The Ridong Group sold its 45 per cent share in the Jewel towers in February.

gold coast tourism

Artist impressions of a chapel (top left), health and wellness centre (right) and art museum (bottom) in the Gold Coast hinterland.

In applying for the rezoning the rural 47.5-hectare rural site, Ridong has positioned the development as a “significant investment in the development of an integrated tourism resort” catering to a growing inbound tourism market interested in health and wellbeing.

Building heights will be largely low- to medium-rise, with the hotel component of the development reaching 5-storeys. The proposed development will cover less than 9 per cent of the nearly 50-hectare site.

The 4-storey, 14,885sq m contemporary art gallery will be privately operated and comprise a curated cultural exhibition space, a 100-seat theatre and automotive museum.

Ridong said that the gallery will act as a “world class” tourism attraction for the area as the Gold Coast “doesn’t currently have an art gallery of such proposed scale”.

Ridong has appointed architecture firm DBI for preliminary design duties.

The major development is currently in preliminary assessment with the Gold Coast City Council and is not expected to progress before 2019.

The Urban Developer reached out to Ridong but did not hear back by the time of publication.

Source: theurbandeveloper.com

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