A selection of the Gold Coast's finest projects - News.com.au
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A selection
of the Gold Coast’s
finest projects
ELCOME to the Ray White Projects lift-out, where we review what’s driving
W the growth of the Gold Coast market and take a look inside some of the
city’s most exciting new projects.
For the first time in some years, we entered 2014 in a across the world – are choosing to move ahead with major
healthy market – not oversupplied, but with green shoots residential projects on the Gold Coast. That alone tells a
of recovery having emerged. With a ‘clean slate’ of sorts, compelling story about the future of the market here.
the market for new projects kicked off with great strength.
For now, we’re preparing for one of our busiest periods of
This year marked the first in our new development cycle. the year. January is one of the most active sales months
2014 saw developers bring their projects to market as for projects – here on the Gold Coast we have the benefit
they identified buyer demand at a level not seen since of an influx of interstate and overseas visitors here for the
the advent of the GFC. Interest from overseas investors, holidays.
particularly from Asia, has been one of the driving forces
for new projects. If you’re ready to get into the market, let us help you find
your next home or investment. We pride ourselves on
The Gold Coast is getting ready to roll out the welcome delivering great service and helping buyers find the right
mat for the 2018 Commonwealth Games which is now property.
less than four years away. Our light rail system is up and
running and has been received by locals and visitors even All the best for a happy and prosperous 2015 from the
better than expected. Two of the city’s premier lifestyle team at Ray White Projects.
assets, being Jupiters Hotel and Casino and Pacific
Fair, are both in the throes of multi-hundred million dollar
redevelopments. Work is underway on the $1 billion Jewel
project at Surfers Paradise and a proposal has been put Julian Sutherland
forward for the development of a cruise ship terminal. The Director
Gold Coast is telling the world: “we’re open for business”.
Ray White Projects
All this has culminated in a true sense of optimism about
what the future holds for the city. Several Asia-based Part of the Ray White
developers – who scope out investment opportunities Surfers Paradise Group
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Gold Coast Stakes
International Claim
The Gold Coast is carving out a reputation as
a destination for international investment on the
back of billions of dollars in private and public
projects.
Ray White New Projects director Julian Sutherland said
an array of high-profile developments had cemented
the city’s place on the global map of opportunity.
Mr Sutherland said the city’s hosting of the 2018
Commonwealth Games was a pillar of growth that had
helped revive residential development in the wake of the
GFC.
“The Gold Coast is open for business as investment
by governments and developers alike intensifies in the
lead-up to the Games,” he said.
“The sheer weight of projects underway or planned has
cemented the city as a credible place for investment.
“There is a city-wide ‘urban renewal’ of sorts happening
and this is making the Coast more competitive and
attractive on the global stage.”
Mr Sutherland said introduction of the $1 billion Gold
Coast Light Rail system had exceeded expectations
while major multi-million-dollar redevelopments of
Pacific Fair and Jupiters Casino were in full swing.
He said public and corporate investment in the city over
the past few years had stimulated the city’s housing
and apartment sectors.
Strengthening Rental Markets In Gold Coast Offer Investment Opportunity
“On the residential front, there are billion dollar-plus
developments in the pipeline creating a volume and
The South East Queensland region has seen some interesting Furthermore, rental market figures released by the Real Estate
value of private investment which hasn’t been seen in
movements in the area’s rental markets over the last few months, Institute of Queensland (REIQ) earlier this year provided similar
our city since the advent of the GFC,” he said.
with varying degrees of growth helping to illustrate the overarching commentary. REIQ chief executive officer Antonia Mercorella said a
strength of the Sunshine State as a whole. survey conducted in October illustrated the relative steady nature of
“Work has started on the $1 billion Jewel project, which
Queensland’s rental market.
is a long-awaited iconic beachfront tower for the city.
Now could be a brilliant time to consider looking into investment
opportunities in residential developments across Surfers Paradise. “On the Sunshine Coast, the vacancy rate is at one per cent, the
“To see these developments move from a vision to
As more people begin to rent real estate in the region, the potential lowest of any major region in the state. Population growth and a
reality at the hands of major, and often international,
for establishing a successful little investment nest egg could be on lack of investor activity are contributing to these tight conditions,
property players is a significant step for the Gold
your horizon too. particularly in hinterland areas where agents are struggling to find
Coast’s economic growth.”
enough rental properties to meet demand,” said Ms Mercorella in a
A recent release from property analysts Matusik provided some 31 October statement.
Mr Sutherland said the rekindled residential sector
figures for the South East Queensland region. The percentage of
would ultimately benefit buyers.
households renting in the Northern Gold Coast area is edging on 49 “On the Gold Coast, rental conditions remain tight with a vacancy rate
per cent, with a steady vacancy rate of 2 per cent. However, the main of 1.9 per cent at the end of September, with median weekly rents
“The realisation of these projects will alleviate pressure
contender for investment potential is the Southern Gold Coast area. remaining stable over the September quarter.”
on housing stocks and deliver a diverse range of
housing product across the city,” he said.
These figures point out that the vacancy rate is currently resting at This could present a wonderful opportunity for investors interested
0.4 per cent, and still falling. Meanwhile, the popularity of apartments, in expanding their property portfolio into residential developments
“This is vital given that the Gold Coast is one of
detached houses and townhouses as rental properties is rising rapidly in Surfers Paradise. With the aforementioned population growth
Australia’s fastest growing cities with 10,000 people
– giving buyers the opportunity to make moves into that local market expected to continue upwards, the need for accommodation across
moving here annually.
and begin organising their future investments in the strengthening the region will become an issue of paramount importance.
Gold Coast market. This is in contrast with the surrounding areas,
“We now have a level of public and private investment
with places like Inner Brisbane and Ipswich all experiencing steady
to support that growth.”
market activity.Projects
Urban Renewal Fires Up Southport Sales
A WAVE of public and private investment in Southport has reignited “Most have gained approval in a short timeframe,” she said.
buyer interest across the resurgent suburb, according to Ray White
New Projects. Ms Coyne said more than 5000 apartments were proposed under
the Southport PDA, including Meriton’s 551-unit Sundale which,
The agency, part of the Ray White Surfers Paradise Group, has along with at least five other projects, is now under construction
reported strong sales in the Oceans Apartments, 8 on Norman and
Metro 88 projects it is currently marketing. Among those projects to have secured approval is Azzura
International Construction’s 104-level Imperial City.
Ray White New Projects director Julian Sutherland said significant
public infrastructure investment followed by Southport’s declaration The building will comprise 2200 tourist and residential apartments
as a Priority Development Area and as the Gold Coast’s CBD had and will be Australia’s tallest high rise.
seen interest in the area surge.
There are also plans to transform the 1.5 hectare Star of the Sea site
“The Queensland Government and Gold Coast City Council poured into a huge mixed-use development while the State Government
a lot of resources into infrastructure projects such as the light rail, is considering the $7.5 billion cruise ship terminal and integrated
Broadwater Parklands, Aquatic Centre and Chinatown,” he said. resort development earmarked on nearby Wavebreak Island.
“This has been partly driven by the city’s hosting of the 2018 Mr Sutherland said the quality and quantity of development activity
Commonwealth Games and Southport’s key role in that event as in and around Southport had piqued the interest of local, interstate
the location of the games village and the aquatics events. and overseas buyers.
“The magnitude of public investment has fired up the private sector He said a high percentage of sales in one recent project had been to
which saw that vision for Southport as the Gold Coast CBD.” Asian buyers drawn by the area’s renaissance and the development
of a Chinatown precinct.
Mr Sutherland said the PDA declaration - allowing unlimited height
and density, and the fast-tracking of development applications – “In that particular development, 42 per cent of the apartment buyers
had also galvanised private development. were from Asia,” he said.
“The PDA sent the message to developers that the sky was really “Chinatown, in particular, is viewed as a positive move and it is
the limit in Southport and that the state and local governments are generating strong interest from Asia-based parties.”
serious it being the Gold Coast CBD,” he said.
Ms Coyne said Queensland Government figures revealed
Gold Coast property researcher Colleen Coyne said around 35 Southport’s estimated residential population of just over 30,000
development applications had been lodged under the Southport was expected to grow to more than 40,000 by 2021 and more
PDA in the 15 months since its inception. than double to almost 70,000 by 2036.luxury living in the
heart of the gold coast
apartments from $533,000
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