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Developments

Surge of developers, investors riding boutique wave on southern Gold Coast

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A SWELL has been quietly building in the Gold Coast’s property market over the past 18 months with a surge in development and investment.

But it’s rising from the southern end of the Glitter Strip and not from the more well-established beachside precincts of Southport, Surfers Paradise and Broadbeach.

And in a major shift for the Coast, much of its momentum is coming from smaller boutique high-rise apartment developments for owner-occupiers rather than investor-focused supertowers.

Another key driving force is a massive infrastructure spending list — including the proposed $600 million extension of the light rail to Burleigh Heads and game-changing $500 million upgrade to the Gold Coast Airport precinct.

“Certainly, there seems to be more activity generally in those beachside precincts south of Broadbeach,” said Colliers International Gold Coast director Darrell Irwin. “And the surge in development is flowing into the commercial, retail and investment markets.”

Among the hot spots are Burleigh Heads, Palm Beach, Bilinga and Coolangatta.

Mr Irwin said besides the mooted major infrastructure works, the reluctance of banks to fund bigger residential developments had resulted in the shift of focus to the southern Gold Coast and smaller apartment projects.

“If you drive around Southport’s Priority Development Area (PDA) there’s 20 or 30 different sites where you could do 100 storeys,” he said.

“In theory, it may seem all well and good to have a PDA where developers can pretty much do what they like.

“But actually it has been counter-productive because developers are concerned about all the potential competition and the banks don’t want to fund projects of such a scale in Southport. So, it’s a bit of a double whammy.

“Also, owner-occupiers want to live near the beach and have the lifestyle and amenity — including all the trendy cafes and restaurants — that the southern end of the Gold Coast offers rather than live at Southport.

“And the banks are far more comfortable with the smaller boutique projects aimed at owner-occupiers, so they’re easier to fund and easier for developers to get in and out of more quickly.

“It’s the combination of all these factors that is the reason why the southern end of the Coast is really firing.”

Projects ranging from townhouses to mid-rise apartment towers of seven to 26 storeys by savvy locally-based developers — including Sunland, Morris Property Group, the Neumann family, Lacey Group and Cru Collective — are already underway.

And according to Mr Irwin, a growing number of interstate developers are now circling development opportunities along the Coast’s southern strip.

Originally Published: www.couriermail.com.au

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Developments

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

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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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Developments

Gold Coast’s Newest Residential Community Secures $91 Million in Sales

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Gold coast property

One of Gold Coast City’s ‘s newest communities, Vue Terrace Homes, is starting to take shape.

With more than 200 workers on site each day, Robina Group’s $170 million city-shaping project is creating jobs and boosting the economy.

Hutchinson Builders commenced construction of the major Robina Group development in March on a central site overlooking Gold Coast City Council’s 17-hectare Robina City Parklands.

The parklands are due for a $15 million upgrade by Council to transform them into Gold Coast’s “Central Park”, the tender process for the project has just commenced with works due to start this year.

Buyers have already invested more than $91 million in Vue Terrace Homes, including almost $16 million in sales in the penultimate release – stage three.

Hutchinson Builders Gold Coast manager Paul Hart said the project, situated on East Lane in the heart of Robina, was a hive of activity.

All homes in the six-hectare, gated Vue Terrace Homes residential community feature three bedrooms plus a second multi-use living perfect for a media room or study.

“At the peak of construction, we will have more than 300 staff on site daily, with a total of more than 3000 people employed as a direct result of this development, which is keeping Gold Coast workers close to home and boosting the local economy,” he said.

“Roofs have started to go on to many homes and many more are framed up and we have also started interior works, including plastering and joinery.”

All homes in the six-hectare, gated Vue Terrace Homes residential community feature three bedrooms plus a second multi-use living perfect for a media room or study.

Residents of the Vue community will have direct access into Robina City Parklands where they will be able to enjoy multiple fishing platforms, a village green with event stage, walking trails, playgrounds and a café once the multi-million transformation is complete.

Robina Group sales manager Azura Griffen said Vue Terrace Homes was brought to market to fulfil strong demand for terrace homes in Robina.

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The first Vue Terrace Homes will be completed early next year, with stage two expected to be delivered shortly after.

“Vue features high-quality homes to meet demand in this fast-growing region, with Robina’s population workforce predicted to double by 2050,” she said.

“This new community offers the chance to secure a low-maintenance, urban property at the geographic heart of the city, with the best education options right on your doorstep and an ideal lifestyle just ten minutes to the beach.

“Projects such as Robina City Parklands are further adding to the precinct’s appeal, and we have already recorded increased enquiry since the announcement in June that Council plans to commence upgrade work on the parklands later this year.”

The first Vue Terrace Homes will be completed early next year, with stage two expected to be delivered shortly after.

The Vue Terrace Homes sales and display centre is open seven days a week from 10am to 5pm on the corner of East Lane and Stadium Drive, Robina.

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Developments

Gold Coast Airport Hotel Gets the Green Light

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The Gold Coast Airport has been given the go ahead by federal government for a new $50 million hotel to commence work.

The hotel’s major development plan was given approval by the Deputy Prime Minister and Minister for Infrastructure Michael McCormack, allowing development of the Rydges brand hotel to move forward with construction.

Developer Trepang, associated with John Robinson and Nick Paspaley, will deliver the seven-storey hotel that will feature 192 rooms and suites, a rooftop bar and viewing deck.

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The hotel development, which will have views over Kirra beach and the airport runway, will create 90 construction jobs and more than 60 jobs post-construction.

Airport owner Queensland Airports Limited (QAL) chief executive Chris Mills said work is expected to commence on the project before the end of this year.

“This is a great project for the airport, and for the Gold Coast and northern NSW,” he said.

Earlier this year Mills said half a billion dollars would be invested into the Gold Coast airport precinct under the airport’s Project LIFT expansion plan to be rolled across the next few years to manage mounting demand.

“An airport hotel is something that has been missing at Gold Coast Airport and now that we have the approval, we can move ahead with another important part of our development plan designed to further activate the precinct and accommodate growth,” Mills said.

It’s expected the airport will usher $818 million a year to the region and generate 20,000 full time jobs by 2020.

Gold Coast Airport welcomed 6.6 million passengers heading to and from south east Queensland and Northern NSW last financial year, while passenger numbers are expected to reach 16.6 million annually by 2037.

Construction is expected to start this year with the hotel operational in 2019.

Source: theurbandeveloper.com

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