Wednesday, 30 June 2021

Half floor $3.933 million Coast, Surfers Paradise off the plan sale tops Gold Coast sales

The top reported sale on the Gold Coast last week was an off the plan deal in the Coast, Surfers Paradise project.

The $3.933 million sale was secured by Highland Project Marketing.

The half floor 601/43 Garfield Terrace offering has 206 sqm and 92 sqm external space.

It is in the Sammut Group project designed by PBD Architects which hit the market recently.

The project is being marketed as offering a 6-star resort style lifestyle, in an absolute beachfront location.

The tower’s 43 luxury apartment include 36 half-floor villas between levels 3 to 20, two double-storey “sky homes”, 10 full-floor sub-penthouses and a penthouse from level 33 to 35.

The penthouse comes with 4 master bedrooms with ensuites & walk-in robes, plus a 5th bedroom/study, gourmet kitchen, butler’s pantry, expansive living and dining zone, and rooftop alfresco area with private pool.

The 601 sale is the first contracted sale with its price details officially released by the Sutherland Shire, Sydney-based Sammut Group which quickly secured $110m in conditional sales within its ultra-luxury development after submitting the development application last month.

More than half of the 43 beachfront apartments were optioned with a $50,000 holding deposit which will be converted to contracts requiring a 10 per cent deposit.

The contracts will be subject to council approval, which is expected “before Christmas.”

The sales have ranged from $3.5m to $9m at an average of more than $4.5m.

No more than two apartments will be on each floor in what will be the first luxury tower built in central Surfers Paradise since Jade was completed around 15 years ago.

Co-founded in 1993 by brothers John and Allen, Sammut Group follows the vision of their father Paul Sammut, who built over 200 prestigious homes and developments throughout New South Wales.

Half floor offerings have become popular at Surfers Paradise.

Shoreline has half floor three bedroom apartments priced from $1.15 million to $1.8 million.

It has 27 apartments over 17 levels by Marquee Development Partners just across the road from the beach.

One Cannes had a limited number of half floor apartments, set north facing on a premium bend of the Main River.

The project is by Marquee Development Partners.

Surfers Paradise

1 Cannes Avenue, Surfers Paradise QLD 4217 

 

Article Source: www.urban.com.au



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Australian property market showing signs of bubble risk, academic modelling finds

Much of the Australian housing market shows indications of bubble risk, new modelling argues, after the return of investors and a fear of missing out has pushed prices higher than can be explained by low interest rates and other factors.

Property prices in Sydney, Melbourne, Brisbane, Adelaide and Canberra have outstripped the growth expected from fundamental factors, such as rents, interest rates, income, and housing supply, and are being bolstered by panic buying and speculation, new modelling by economics professors at Macquarie University and Yale University shows.

“While the interest rate is at its historical low and housing supply has dropped substantially in some cities, they cannot fully explain the fast-rising house prices in some cities,” said Shuping Shi, a professor of economics at Macquarie Business School.

The question of whether Australia’s housing market is in a bubble, or overvalued, has been a hot topic among economists as prices have soared, with many arguing that there is no way to know if asset prices are in a bubble unless the bubble bursts and prices fall sharply. Professor Shi stressed she does not expect property prices to fall substantially, although they might level off or fall slightly in future.

Professor Shi said the increase in demand is also being driven by some buyers purchasing out of fear that they will be priced out of the market entirely if values keep climbing at the current rate and investors counting on rapid gains to make a large profit.

 Australian

The fear of missing out if prices continue to rise rapidly is prompting more people to try to buy now. Photo: Peter Rae

Expectations of a “large and almost certain” profit attract more investors to the market and, combined with panic buying, could lead to a substantial jump in housing demand and an explosive expansion of house prices, she said.

Such factors played the biggest role in Sydney, followed by Melbourne and Canberra, according to the modelling, based on March figures. Speculative bubbles started first in Brisbane and Sydney in spring, followed by Canberra late last year, Melbourne, and even Adelaide in the March quarter.

One of the factors assessed to provide a “real-time bubble indicator” was a price-to-rent ratio, with Sydney seeing double-digit growth in a single month and Canberra recording its strongest increase on record, causing concerns for the general public and policymakers, Professor Shi said.

Hobart, Pert and Darwin, were also seeing speculative and panic buying, but not at a level that would indicate housing fever, Professor Shi added.

The modelling, available on The Housing Fever website, also covered six New Zealand regions. Canterbury and Auckland were both found to be in the grips of a speculative bubble.

“We can expect in the future that these markets will either slow down or see price decreases … and some markets would drop much more significantly than others,” Professor Shi said.

However, she stressed that, unlike in financial markets, property prices were more likely to level off or drop a little rather than see a substantial fall when a speculative bubble ended.

HSBC Australia chief economist Paul Bloxham said double-digit annual house price growth seemed to have run ahead of what fundamentals would explain for Australia.

“We expect that the housing market is going to cool over the coming quarters and running into 2022,” he said, noting ongoing border closures and stalled population growth would weaken housing demand and see price growth drop back to single digits.

The surge in demand brought about by record-low interest rates would also drop off, having worked its way through, he said. And with the Reserve Bank adamant that it won’t turn to negative rates, there are no more cuts ahead to fuel further demand and price growth.

Mr Bloxham added that while the market’s rapid rebound had been mostly driven by first-home buyer activity, it had more recently become an investor-led story.

“The more investors pile in, the more it’s concerning that it might start to become a bit more of a speculatively driven market,” he said.

“[But] we’re not expecting that there will be a need for prudential tightening. What we’ve observed is that lending standards … have all been fairly strict, and we think the housing market fundamentals themselves and, in particular, the closed border will be the main factors that will see the market cool.”

The Housing Fever website is aimed at providing independent modelling for policymakers, and Professor Shi hopes it can contribute to the ongoing policy debate regarding the rapid growth in house price by providing insight into the factors fuelling housing demand.

She noted it would also help individual consumers make decisions, showing whether they were in a speculative bubble and, if so, how long it had lasted.

 

Article Source: www.domain.com.au



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Stunning iso sanctuary house in Brisbane’s Westlake ideal for the lockdown era

A home so comforting it’s being dubbed property’s answer to a warm hug has hit the market – offering buyers a prime piece of Brisbane real estate that the owners say will even boost your mental health.

Constructed in the shape of a wave and ensconced in greenery, 11 Timaru Close, Westlake, features a pool, a tennis court and 2858 square metres of leafy land just 16 kilometres from the city while emulating a design inspired by famed architect Frank Lloyd Wright.

Brisbane

11 Timaru Close, Westlake QLD 4074

The sprawling four-bedroom home – built in the 1980s to flow seamlessly with the surrounding nature – will go up for auction on July 10 at 2.30pm, just two years after it last sold for $3.075 million.

While it has been a short and sweet love affair for vendors Theresa and Bob Gibbs, the 927-square-metre abode was nevertheless a prized haven – particularly during the toughest pandemic periods.

“It felt like a sanctuary – you’d close the front door, and the world was behind you but without feeling enclosed or isolated at all,” Mrs Gibbs said.

Brisbane

A sanctuary without being isolated. Photo: Ray White

“The way Donald Spencer (the designer) designed it was with all curved walls so it has a different atmosphere to a house that’s rectangular and it almost cocoons you. It’s just beautiful to live in, and with COVID, having a house like that to live in is going to be good for your mental health and even your physical health.

“Across the river, [the land] belongs to the University of Queensland, and that’s the research facility, which means there are just paddocks with cows, and that land will never be sold,” she said.

“It’s a rare gem to find a home like this.”

Mrs Gibbs said the incredible design of the interior was one of a kind, with a billiards room, a sauna, two gas fireplaces and an incredible main bedroom suite adding to the relaxed luxury feel.

Brisbane

Feels like luxury. Photo: Ray White

“The marble that covers all the floors is beautiful Italian marble, and it’s probably almost irreplaceable. It was laid in the ’80s when the house was built, and I have no idea what it would cost to do that today … I’m still astounded by how perfect everything just works together, and every element fits so beautifully. In fact, every room connects with the outside. Nothing jars.”

Selling agent Christine Rudolph of Ray White New Farm said the “iconic Australian home” had garnered huge amounts of interest with locals through to London-based expats all vying for the property.

“It is a rare residence because of the frontage of the river … and there’s not a neighbour in sight – all you can hear are the birds and the trees,” Ms Rudolph said.

“You capture dual reaches of the river; you’ve got the perfect north-east facing aspect, and you have a little estuary that cuts to the corner of the property, and behind that, you’ve got acres and acres of council reserve and bushland.

“The curve of the home really harmonises with the curves of the river, and extensive views create the illusion of being connected completely with nature, and even the swimming pool was designed like a lagoon to replicate the curves of the river, so the fluidity of the home and the connection with it is completely mesmerising.”

Brisbane

The curves play on the bends in the river. Photo: Ray White

It’s a tantalising description that Mrs Rudolph said was particularly capturing the interest of prestige home hunters who were fleeing the concrete jungle in their droves in search of acreage hideaways.

“We’ve had quite a number of prominent Brisbane residents since COVID who have reviewed their lifestyle choices, and their preferences are now to be in a large home surrounded by nature,” she said.

Brisbane

Nature all around. Photo: Ray White

“They are not in a position anymore to travel overseas, and people really value their home and their space, and this home has had a lot of interest because structurally, it’s a masterpiece as well as it lends itself to being transformed.

“There is also definitely a return to grandeur and a return to big homes, and we’ve seen a complete 360 to what we were seeing years ago. Buyers now want space, and they are paying for it, and that’s where the best sales we have done have been.”

 

Article Source: www.domain.com.au



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Tuesday, 29 June 2021

Steve Hunt’s latest Brisbane, Gold Coast and Sunshine Coast apartment and townhouse update

Plenty has happened over the last month in the South East Queensland apartment and townhouse market.

Media Hunt managing director Steve Hunt has given an update of all the property moves across the booming Queensland markets.

 

Article Source: www.urban.com.au



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Why One Cannes in Surfers Paradise should be on buyer’s shortlist

One Cannes has plenty on offer without even stepping out the lobby with a five-star resort style amenities inspired by the French Riviera spread across two full levels

The luxury Gold Coast riverfront apartment development One Cannes has been inundated with enquiry and buyers, with only a few apartments now remaining.

Of the 80 two, three and four bedroom apartments designed by Plus Architecture, the majority were sold to local downsizers, demostrating the continued appetite for spacious and ultra-luxurious apartmenst in an unmatched water location for those with shrinking households.

The remaining One Cannes apartments all have water views,  entertainers kitchens with European appliances and 40mm stone benchtops, starting from the low $800,000’s, with the four bedroom penthouses priced between $2.7 million and $3.5 million.

Urban has taken a closer look at why One Cannes is selling out fast.

One Cannes

1 Cannes Avenue, Surfers Paradise QLD 4217 

The tower has plenty on offer, without even stepping out the lobby, with onsite amenities at the forefront.

The ground floor is home to a riverfront infinity pool surrounded by cabanas and sun lounges, as well as a full-sized gym, sauna, and a yoga and pilates studio, oriented toward the Main River and adjoining parklands.

Plus it makes working from home a breeze with a business lounge, boardroom, private offices and meeting rooms. There are also working offices for solo use.

One Cannes offers oversized apartments wrapped by floor to ceiling glass, and every apartment boasts river views as well as stunning skyline, ocean & hinterland vistas.

The secluded, leafy dress circle enclave is a quite residential address with absolute river and park frontages, all while remaining just a five minute walk to a patrolled beach and cafes.

Every five star home is host to premium finishes, with the hub of the home the entertainers’ kitchen with European appliances and 40mm stone benchtops.

Located between Broadbeach and Surfers and surrounded by retail amenity, One Cannes is Marquee’s second successful project along Cannes Avenue, following their sellout Cannes Waterfront Living.

One Cannes marks Marquee’s seventh project on the Gold Coast, bringing its total portfolio value of completed and future projects on the Gold Coast to more than $400 million.

 

Article Source: www.urban.com.au



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Inside the apartments in Chevron One on the Gold Coast

The luxury project boasts exceptional interiors, with high-quality finishes, intuitive spaces and spectacular views

Bensons Property Group’s Gold Coast landmark development, Chevron One, is set to become the first luxury tower on Chevron Island.

The tower will rise above the new arts and cultural precinct and deliver 236 one, two and three-bedroom apartments designed by international architects Marchese Partners.

Chevron One

36-44 Stanhill Drive, Surfers Paradise QLD 4217

Organic architecture envelops the residence, with the geometry of the balconies creating a dynamic façade.

“Chevron One’s organic sculptural form is inspired by the iconic Gold Coast symbols of the sun, beach and ocean”, said Marchese Partners chairman Eugene Marchese.

The luxury project boasts exceptional interiors, with high-quality finishes, intuitive spaces and spectacular views.

Open plan living spaces and an abundance of natural light showcase the refined elegance of each apartment.

“Chevron One features generous, sweeping balconies that offer expansive views of Surfers Paradise, the hinterland, the river, sandy beaches and the ocean”
Bensons Property Group

Celebrated chef Shannon Bennett, best known as the head chef of Vuedemonde at Melbourne’s Rialto Tower, has designed the apartment’s kitchen.

The functional “heart of the home” boasts Miele appliances, engineered stone, modern tapware and feature accents that blend with the apartment’s design scheme.

Bathrooms are designed to feature semi-frameless glass, wall-mounted vanities and sleek cabinetry illuminated by ambient lighting.

Textured wood-grain cabinetry is also featured in the ensuite of the master bedroom while neutral walls and plush carpets provide opportunities for residents to add their own sense of style.

Residents at Chevron One will enjoy exclusive resort-style amenities of Club One Residents Club, with an area spanning over 1,200 sqm.

Amenities include a concierge service, a number of swimming pools, a gymnasium, library, residents’ lounge and dining space, as well as a yoga and sculpture garden.

The outdoor pool and spa also connect to an alfresco barbecue and Teppanyaki dining area, as well as an outdoor cinema.

Two-bedroom apartments in the project begin from just $705,000, with three bedroom apartments priced from $1,175,000. Chevron One is expected to be completed in mid-2023.

Article Source: www.urban.com.au


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Monday, 28 June 2021

Seven boss Ryan Stokes lodges plans for Palm Beach apartment development Akuna

Akuna, which derives from the Aboriginal word meaning “flowing water,” will span nine levels and have 13 apartments

The Seven Group media heir Ryan Stokes is set to develop an apartment block on his recently acquired double block on Gold Coast’s Palm Beach.

Stokes, managing director and chief executive of Seven Group Holdings which his father Kerry Stokes founded in 1991, recently doubled the size of his Jefferson Lane holding, paying $4,625,000 for a holiday home on 406 sqm. That gave him a total of 814 sqm. Stokes spent $3,375,000 on a four bedroom home on 408 sqm next door in 2016.

And now Stokes has lodged plans for Akuna, a boutique block of just 13 apartments designed by the Brisbane-based Modulus Architecture at 39-41 Jefferson Lane, Palm Beach.

Akuna, which derives from the Aboriginal word meaning “flowing water,” will span nine levels and comprise nine three bedroom apartments and four four bedroom apartments.

Akuna

One of the three beds will sit on the ground floor, next to the ground level resident amenity of a gym, lap pool, spa and communal rec space.

The four levels above will have two apartments per floor until level six. From there there will be four single level apartments, the four bedders, which span over 265 sqm.

Crowning the apartment development is another resident amenity level, featuring a mother pool, sun deck, built-in barbecue space and external dining space.

There will be 34 parking spaces across the two basement level garaging, and bicycle parking for 17.

The development is oriented toward the vistas of Surfers Paradise, Coolangatta and the Gold Coast Hinterland.

“Apartments have been designed with sub-tropical Queensland living in mind, providing expansive living zones opening out to external balconies whilst offering zones for relaxation and privacy,” the design statement submitted to the Gold Coast City Council by Modulus Architecture notes.

“Externally, Akuna is articulated with a series of balconies and façade breaks to develop an architectural language that speaks to the origin of the development’s name; Akuna meaning flowing water.

“Linear elements roll and curl along the facade, in the same way as a wave curls before breaking on the shoreline. A refined palette of materials references Queensland coastal vernacular, composed of linear timber boards, flowing concrete forms and ornate fenestration.

“Contextually, the development is conveniently located within proximity to a range of retail, restaurant and wellness facilities, providing residents with an increased level of amenity.”

Akuna

Architectural Design Statement

Architectural Design 

Taking inspiration from the curls of a breaking wave, Akuna’s sculptural form evokes a sense of fluidity and calm. Concrete upstands bend and curve their way around each articulated floor plate and terminate much like a wave crashing back into the ocean. Each floor level is articulated with a series of breaks and extensions that mirror the effect of natural resonance. Pushing in and out to provide balconies and quiet moments to view the magnificent coastline.

Built Form 

The sculptural form appears to float over the street level but seamlessly integrate with the natural surroundings along the beach front. Akuna is study in horizontality, broken by finite vertical elements. Slab extensions and breaks are positioned so as to provide glimpses to the water but provide privacy to neighbouring sites. Setbacks are considered with the view to reduce overlooking. Rear setbacks to balconies are calculated from the Sea Wall A-Line, with the street front setbacks exceeding four metres to the bulk form of the building. Elegant curves wrap and fold around the façade whilst providing a level of protection to the apartments from the afternoon sun. Bedrooms and living spaces are positioned to capture vistas north to Surfer’s Paradise and south to Coolangatta. Noting the 29m height limit, Akuna looks to maximise its coastal outlook by providing a series of elevated roof zones which follow the natural contour of the ground. All 9 levels are contained within the stated 29m height limit.

rban Design Intent 

Akuna looks to provide a complementary and respectful design outcome to the developing and vivacious Palm Beach locale. A secure lobby entry is provided on grade from the street level, providing a central point for the collection of mail and meeting of guests. Flanked by lush sub-tropical gardens, a private access stair is provided for the ground level unit. Communal recreation facilities are provided on the ground level, allowing for a series of internal and external recreation activities to take place. Direct connection to the beachfront boundary on grade provides resident’s and their guests the opportunity to access the beach or enjoy the coastal vista from the privacy of their outdoor terrace. A pool and sculptural planting creates an increased level of activation to the street and provides the opportunity for passive surveillance to the public footpath and street face to the north of the site. Car & bicycle parking is contained within the basement zone, providing four visitor carparks accessible from the street, and an additional 30 residential carparks secured behind an access controlled gate. Bicycles are located within the basement, with a collection of visitor bicycles located on grade adjacent the lobby.

Materiality

A refined palette of carefully selected materials envelope the elegantly winged floorplates; profiled concrete provides a reference to the striations of shells, whilst the battened façade screens allude to the natural tones and colours of found items along the shoreline. Clear glazing is interwoven with timber boards to add contrast and texture to the adjacent smooth concrete ‘curls’

 

Article Source: www.urban.com.au

 



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Brisbane’s eastern suburbs see prices spike by 20 per cent

Brisbane’s former “ugly duckling” suburbs in the city’s east have metamorphosed into real estate swans, with house prices reportedly skyrocketing by up to 20 per cent over the past six months alone as buyers pounce on properties once shunned in lieu of nearby blue-chip hot spots.

Cannon Hill, Carina, Tingalpa and Mansfield are sitting in the eye of a buyer storm that’s sparked record-breaking sale prices and auction bidding wars that property punters say are more than just changing the face of these once underrated suburbs – but setting a new precedent.

It’s a boom they say has stemmed from more than just “outrageous” property prices in nearby Bulimba, Hawthorne and Norman Park, but a gradual makeover that’s lead to leafier streets, trendy eateries and hip breweries – on top of a wave of infrastructure that’s placing the suburbs on par with their elite neighbours.

Meagan Muir, of Place Estate Agents Bulimba, recently pulled in a new suburb price record for Cannon Hill with the $1.825 million sale of 70 Dorothea Street and said while her beloved patch had always been a slow-burning hot spot, the ongoing improvements, community feel and well-sized blocks had sparked an appetite that was beyond insatiable.

Brisbane

70 Dorothea Street, Cannon Hill, sold for a record price. Photo: Place Estate Agents 

“Cannon Hill definitely demands to be seen now, and it’s now one of those prominent pockets,” she said.

“I sold 70 Dorothea Street in seven days late last month, and that was a really remarkable home, and it’s the highest price ever paid here.

“And while it was a local buyer, there is more demand here than ever from interstate as well.

“I think the floor plan and the size of the home and the fact it was unique [helped it land the suburb record]. I had multiple offers on the property, and that’s why it sold so quickly. But this price is just setting a precedent.

“I also just put 7 Blackwood Avenue, Cannon Hill, on the market last Thursday, and it sold cash unconditional on Monday for $1,036,000 … and that wouldn’t have sold with a ‘one’ in front of it six months ago.

Brisbane

7 Blackwood Avenue, Cannon Hill. Photo: Place Estate Agents Bulimba 

“So, while I think the suburb has been on the rise for a while, this is just a whole other thing.

“I reckon it’s because it’s still offering good value, and you’re still able to buy a good family home at a good price, and it’s close to the city, and there’s great schooling.

“I think, realistically, prices have moved hundreds of thousands of dollars here recently here – and there’s plenty of buyers more than happy to pay that.”

Just two weeks ago, Phil Burley, of Place Estate Agents Bulimba, smashed the suburb price record for Carina after a hilltop mansion at 62 Madison Place fetched $1.7 million prior to auction – beating the previous record by $300,000.

This comes after Domain’s House Price Report for the quarter leading up to December last year revealed median house prices in Cannon Hill rose by 11.1 per cent to $800,000 in 12 months, while in Carina Heights, house prices jumped a whopping 22.1 per cent to $730,000 over the same period and an incredible 26.7 per cent in Tingalpa to $570,000.

Brisbane

The property at 62 Madison Place, Carina, recently fetched a record $1.7 million prior to auction. 

Will Torres of Torres Property said recent price increases were indeed upwards of 20 per cent in key eastern pockets as buyers realised homes in oft-overlooked suburbs were sitting on a pile of gold.

“I sold a home at 37 Conda Place in Carindale last year for $950,000, and it was recently sold again by another agency for $1.2 million,” Mr Torres said.

“Mansfield is another suburb like that – we had one home on the market there at 1 Dewdrop Street two years ago, and the highest offer we had was $705,000, and it had little interest and few offers. Fast forward to last Saturday night, and we sold it under the hammer for $905,000. And we had about 120 people at the auction.”

Ray White Carina agent Jose Peralta said the boom in his patch also came down to the fact it was geographical perfection.

“You’ve got the Gateway Motorway, which accesses the airport, and the Sunshine Coast behind us … then in the opposite direction is the city,” Mr Peralta said.

“And then the other thing is the fact that it’s also you’ve got so many private schools and all a five-to-10-minute drive away.

Brisbane’s eastern suburbs, some of which have flown under the radar before now, have seen prices skyrocket this year. Photo: undefined 

“In Camp Hill … we’ve seen that momentum there for a long time but for that generation in their 25s to 30s, their budget doesn’t stretch there, and that’s why Cannon Hill and Carina are picking up – I mean Carina is next door, and still geographically it’s pretty much the same.

“And Cannon Hill is not much different – you’ve got Balmoral and Bulimba down the road.

“I also think if you look at Carina and Cannon Hill, they were not the prettiest suburbs in the past … but that’s changing now because treescapes are increasing and renovations are happening.”

It was that enticing suburb resume that lured first home buyers Alex Holder and Megan Gracey to snap up a two-bedroom cottage at 24 Gatling Road in Cannon Hill for $788,888 just weeks ago through Ms Muir – with the pair undergoing a brutal half-year of house hunting prior.



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Brisbane’s best property buys under $760,000

Here’s our pick of some of the best property buys in Brisbane right now.

5/7 Miles Street, Hawthorne

Brisbane

5/7 Miles Street, Hawthorne QLD 4171 

A nod to the architectural lines of Victorian-era terrace houses, the facade of this elegant townhouse fronts a decidedly contemporary interior. There are three bedrooms and two bathrooms spread across three levels, timber floors and decks on both sides of its middle storey. The pet-friendly, inner-east pad also has a pleasant private courtyard.

$750,000-plus

Private sale

Place, Anissa Deacon 0412 212 760

19/11 Florence Street, Wynnum 

Brisbane

19/11 Florence Street, Wynnum QLD 4178 

A corner from the Wynnum wading pool and Moreton Bay foreshore parks, this two-bedroom unit gives investors a leased tenant until July 2022. It is on the first floor of its complex, and has an open-plan living and dining area plus a deck, and an extra-long garage with space for two small cars or one big car and storage.

$445,000-plus

Private sale

Raine & Horne, Margaret Vote 0411 521 747

13 Teak Street, Shailer Park 

Brisbane

13 Teak Street, Shailer Park QLD 4128 

There was a time, last century, when suburban buyers could find 913-square-metre blocks for their family homes. This four-bedroom lowset is a testament to that time. Last sold in 1998, its vendor presents a well-maintained home with two bathrooms, a double garage, a pool framed by a sandstone retaining wall and palm trees, and a flat rear lawn for kicking balls and making cubbies. The floor plan has a large rumpus area, big enough to become a second self-contained space. A rainwater tank and solar panels are included.

$699,000-plus

Private sale

RE/MAX, Ric Boulter 0409 643 551

4 Kumanka Street, Kuraby 

Brisbane

4 Kumanka St, Kuraby QLD 4112 

Families hunting quiet sleeping quarters – lots of them – are catered for in this modern, five-bedroom house. Fifty-six per cent of residents in this suburb are aged 65 and over, and more than half of them have been settled in postcode 4112 for five years or longer. The low-set residence sits atop 903 square metres of land one kilometre from Eight Mile Plains Primary School. It has two bathrooms and off-street parking for up to four cars.

$745,000-plus

Private sale

AccomProperties, Wayne Wang 0433 371 024

4017/37c Harbour Road, Hamilton 

Brisbane

4017/37c Harbour Road, Hamilton QLD 4007 

All about position, this 112-square-metre apartment has a commanding balcony view of the Brisbane River from its sixth-floor outlook. Inside, white walls and ceilings boost the natural light, which floods the open-plan living-dining-kitchen zone. There are two bedrooms and two bathrooms, a storage cage and basement lock-up garage. The Citycat Terminal is 650 metres away; the CBD six kilometres to the southwest.

$585,000

Private sale

Ray White, Jed Dziuma 0409 888 190

15/195 Old Northern Road, McDowall 

Brisbane

15/195 Old Northern Rd, Mcdowall QLD 4053 

On face value, this rear villa is solid value for money. The median sale price for three-bedroom houses in this suburb is currently $625,000, and the local primary school is only about 500 metres away. The property has a private front deck behind a thick hedge, a sunny courtyard, timber kitchen benches and a garage. The complex has a pool.

$385,000-plus

Private sale

Elders Real Estate, Di Webb 0413 263 636 

 

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Regional Planning Needs to Play Catch-Up After Pandemic

Since the 1950s, the world has experienced a sixfold increase in the number of people living in cities.

City dwellers now outnumber rural residents globally and in many individual countries. But the Covid-19 pandemic has begun to disrupt the trajectory, scale and form of urbanisation.

Cities, by virtue of their size, have recorded more deaths than surrounding rural areas, though this may not be linked to density.

In the US, small cities and towns have been hit hard. And social and economic disruption appears worse in cities in the developing world.

The pandemic is refocusing planners’ attention on the vulnerability of cities to natural hazards and other threats.

Securing food, water and energy, sustaining health services and maintaining critical supply chains are seen as more important than ever. Planners are also concerned about rising social inequality.

The pandemic has fast-tracked some trends

In developed nations such as Australia, more city dwellers are moving to the suburbs and beyond, believing they offer better security and quality of life.

Australian Bureau of Statistics data from 2020 show our capital cities experienced a net loss of 11,200 people from outward migration. This is also happening in less developed countries, where rural-urban migration patterns have in some cases reversed.

It’s too early, though, to tell if these shifts are permanent.

Regional Planning

▲ What do the changes brought by Covid-19 mean for regional planning? 

The impacts of Covid-19 have heightened de-growth and counter-urbanisation trends. Reduced public transport use (down by as much as 52 per cent nationally in 2020) and lower demand for commercial space (occupancy rates fell to as low as 24 per cent in some cities), are changing the look and feel of many central business districts. Business profits and government revenue have been reduced.

The opposite is occurring in some suburbs and towns. These areas are experiencing a squeeze on rental availability, rising property prices and more traffic congestion.

Some commentators are suggesting the future of cities will be radically different. So what does this mean for urban planning?

Cities require co-ordination to function properly

Cities are complex entities. They require a high degree of co-ordination in providing services (such as water supply, waste management), housing and infrastructure (for example, energy generation and distribution). Regional planning often performs that role.

Regional planning was developed following the second world war to co-ordinate decision-making across jurisdictions within metropolitan areas.

To achieve desired city planning objectives, planners needed a way to better manage rapid population growth and the many interactions of landowners, property developers, businesses and local governments.

Regional plans developed by Australian states from the 1940s to 1970s, for example, sought to contain and focus urban growth pressures.

This was done by managing land use, designating urban growth corridors and boundaries and protecting key resources (forests, water catchments, farmland) from incompatible development.

Most regional plans were based on a central core surrounded by suburbs, with radiating transport lines (railways and freeways) connecting the two.

Beware quick fixes that ignore new trends

As countries recover from the pandemic’s impacts, the temptation is to use quick fixes to stimulate economic activity — such as unlocking large areas of land for housing.

But planning urban areas to meet the needs of present and future generations requires strategic decision-making.

Will we need all those new houses or large infrastructure projects if our urban populations grow more slowly than expected?

The forces currently driving people away from cities and the impacts this is having on built environments and urban populations cannot be ignored. We need to ask if they are temporary, or if they signal a long-term change to our cities.

We also need to recognise that huge investments in urban infrastructure have been made since the 1950s. It is unlikely we will simply abandon our cities.

Even with larger numbers of people moving to suburbs and the countryside, we will still need to supply infrastructure such as new roads, powerlines, water pipes, sewers and waste management facilities.

But regional planning must adapt to the “new normal”, as the current approaches might no longer be fit for purpose.

What does the future hold?

Trends in working from home, online shopping, peer-to-peer transport such as Uber, distributed energy generation (from rooftop solar and other local sources), waste recycling (such as circular metabolism) and new models of finance and funding (such as modern monetary theory) are all affecting the complex systems needed to keep urban areas functioning.

Although vaccines may help life return to some level of normality in the coming years, many of the drivers of counter-urbanisation will continue. Some people will want to keep working from home. Other will want more opportunities to interact with nature. Many will want to live in what planners are calling 20-minute neighbourhoods.

Changing supply chains may result in a rise in new types of local manufacturing. Hydrogen-based energy could make new modes of transport viable — such as smaller, on-demand buses for suburban public transport. We may see the rise of more polycentric cities, like Los Angeles, where suburban centres of employment include local manufacturing.

Regional planning must adjust to these trends. Some large-scale infrastructure projects might need to be rethought. Transit systems will likely need to include autonomous vehicles. Large-scale greening of cities will be necessary to reduce higher temperatures accompanying climate change, if we are to prevent avoidable deaths among older populations.

We will probably also experience new ways of involving citizens in decision-making, such as co-design.

Regional planning has the capacity to stimulate innovation in housing provision, alternative forms of employment and co-ordinating new systems of transport and energy distribution. But planners must catch up fast if they are to play a role in shaping the future of our cities.

 

Article Source: www.theurbandeveloper.com



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Pressure Mounts on Sunshine Coast Land Supply

Sunshine Coast is now home to the smallest lot sizes in south-east Queensland and the most expensive land, excluding Brisbane City, causing land constraint and affordability issues in the booming region.

Property researcher Terry Ryder’s report into the Sunshine Coast land supply issues has identified a lack of affordable housing and under-employment as key issues for the coast’s economy, as well as a diminished construction industry.

“There is economic impact if home building is curtailed through the lack of residential land,” Ryder said.

“Census data indicates that construction is the second-largest industry sector in terms of employment in the Sunshine Coast region.

“The land supply crisis has the potential to create an economic crisis for the region’s second biggest industry.

“The region is already feeling the pinch with both the building and hospitality industries struggling to find staff.

“There will be long-term impacts on major regional projects such as the new Maroochydore CBD, the Sunshine Coast airport expansion and the major health precincts if employees can’t find suitable accommodation for their staff.”

But the Sunshine Coast Council rejected Ryder’s claims more needed to be done to unlock the coast’s development potential.

The council’s plan for growth on the coast was for 62 per cent of development to be infill in urban areas, while the balance would be greenfield development.

According to the Regional Australia Institute, the Sunshine Coast was predicted to be one of Australia’s fastest growing cities to 2030.

Current forecasts suggest the region would be home to 580,000 people in 2041, but with the long-term impacts of Covid-19 still to become apparent, it is difficult to know how accurate this picture is.

Sunshine Coast

▲ An aerial view of Stockland’s Aura masterplanned estate on the Sunshine Coast. Image: Supplied 

In the Sunshine Coast Land Crisis report, Ryder said the paucity of developable land was a critical factor for the region’s growth.

“It is important to understand that the Sunshine Coast’s population will increase and all of the data available indicates that the region has inadequate land to accommodate [it],” he said.

“There is very little land available for new residential developments and the council’s view on having adequate land supply [through infill development] looks to be clearly in question.”

One of the biggest residential development sites on the Sunshine Coast is Aura at Caloundra South, where developer Stockland brought forward the release of 56 of the 4000 lots on the site to accommodate the high level of enquiry.

The suburb, named Banya after the Bunya Tree, will compromise 4000 homes and townhouses when completed during the next 10 years, with 50,000 residents anticipated to move in.

Rise in median prices—Sunshine Coast

Suburb Jan ’21 April ’21 % change
Marcoola $705,000 $770,000 9.2%
Coolum Beach $710,000 $780,000 9.8%
Twin Waters $850,000 $930,000 9.4%
Sunrise Beach $990,000 $1,090,000 11.1%
Sunshine Beach $1,975,000 $2,050,000 3.8%
Noosa $1,150,000 $1,400,000 21.7%

^Source: Sunshine Coast Land Crisis report

Property Council Sunshine Coast committee chair Brad Williams said there was a “real lack of housing product and diversity on offer” to the north of the Maroochy River.

“We certainly need to fast track some developable land north of the river or we will continue to feel the impact of our growing pains well into the foreseeable future,” Williams said.

Prices have increased between 9 and 21 per cent during the past three months on the Sunshine Coast.

A Directive Collective report released recently indicated that the Sunshine Coast would need a new suburb every year during the next 20 years to accommodate forecast population growth on the coast.

The report suggests that there is already an undersupply of 6500 dwellings, which would grow to 8500 dwellings required in 2026.

Directive Collective’s Mal Cayley said the shrinking greenfield opportunities meant the Sunshine Coast needed to focus on infill redevelopment opportunities into the future.

Article Source: www.theurbandeveloper.com



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Friday, 25 June 2021

East Coast Property Settlements Sky-High During Covid-19

More than $400 billion worth of property changed hands during the past financial year.

According to data released by digital property settlement platform PEXA, Queensland’s property market led the way with more than 200,000 properties changing hands in the past 12 months.

Queensland recorded a 37 per cent lift in settlements year-on-year, worth more than $106 billion and fuelled by low interest rates, government stimulus and increased buyer demand.

“The Sunshine State has had an incredible year in property, with greater Brisbane jumping more than 50 per cent on last year’s figures, and the rest of Queensland delivering significant year-on-year gains,” PEXA senior research manager Mike Gill said.

“Most notably, we have seen a trend across the east coast of greater activity in our regional areas, with sale settlements [outside Brisbane] up 23 per cent year-on-year.”

The highest number of sales in Queensland were in Surfers Paradise, Southport and Maroochydore.

Settlements in New South Wales were up 26 per cent with Port Macquarie, Orange and Dubbo the top centre for the greatest number of property settlements.

The state recorded 218,000 settlements, worth more than $186 billion, with the residential sector accounting for more than 84 per cent of all sale settlements. Commercial sales were up more than 30 per cent year-on-year.

Victoria recorded four months of negative growth in the first half of the year, coinciding with the second lockdown, although the state recovered quickly after restrictions eased.

Despite softer gains, Victoria experienced an 11 per cent year-on year increase in settlements.

Commercial sales helped the locked-down state, making up a third of settlements, which was up 27 per cent on the previous financial year.

A total of $127 billion worth of properties settled in Victoria—198,000 properties—to be up 8 per cent year-on-year.

Four in five capital city settlements procured were funded with a new loan, compared to just three in five for regional settlements, as buyers sought out lower priced properties, flexible working arrangements and a change in lifestyle.

“There also appeared to be greater consumer preference towards major banks for new loans in New South Wales and Victoria due to highly competitive rates, particularly for fixed rate loans, and special offers, such as cash back incentives,” Gill said.

“Queensland consumers bucked this trend, with the gap narrowing in favour of the non-major lenders within the state from January, 2021.”

Throughout the depths of the pandemic the housing industry relied heavily on the federal government’s $25,000 HomeBuilder subsidy program to boost demand for new housing inquiries.

The program officially ended in March, although the deadline to begin construction runs for an additional 12 months.

 

Article Source: www.theurbandeveloper.com



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Australians bought more than $381bn worth of property since the pandemic hit

Australians on the east coast bought a staggering $381 billion worth of property in the past financial year, new settlement and mortgage figures reveal.

Buyers were hungry for bricks and mortar on the eastern seaboard with every state recording a significant increase in property sales, online property exchange network PEXA found.

Queensland led the way with the Sunshine State recording 203,000 transactions, an increase of 37.1 per cent in the 2021-2021 financial year, PEXA‘s Property and Mortgage Insights East Coast report shows, which included residential and commercial property sales.

The total value of sale settlements jumped 44.3 per cent in Queensland, reaching more than $107 billion and outperforming Victoria for the first in more than a decade.

The overwhelming majority of those transactions were driven by the residential sector with commercial property sales making up just over a fifth of settlements.

It was followed by NSW, which recorded 219,000 sale settlements, rising 25.8 per cent in the same period.

But the sales in NSW were worth the most at $147 billion, a 25.7 per cent increase.

The state’s residential sector accounted for more than 84 per cent of all settlements even though commercial sales were up more than 30 per cent over the financial year.

Victoria lagged behind at 199,000 settlements — up 11 per cent — worth more than $127 million.

Commercial sales helped the locked-down state as it made up a third of settlements, up 27 per cent in the financial year.

PEXA head of research Mike Gill said the east coast’s rising property market helped lead the nation’s economic recovery from the pandemic-induced recession.

“Most households’ wealth is tied up in their property, for owner-occupiers and investors, too, so when property prices do increase there is this general sense of more wealth among consumers,” Mr Gill said. “Consumer spending goes up across the board. There are flow-on benefits in a strong property market and rising housing prices.”

He said while Queensland’s property market was driven by its affordability for locals and interstate buyers, expats and pent-up demand powered real estate in NSW.

Victoria’s extended lockdown dragged Melbourne’s metropolitan market as many were unable to transact on property, but buyers went farther afield, purchasing country and commercial real estate, Mr Gill said.

“Business owners and landlords are looking at the other side of the pandemic and it’s a real vote of confidence in that sector,” Mr Gill said.

Settlements in regional Victoria were up 28 per cent while Melbourne was down 2 per cent year on year.

Regional property markets recorded exceptional growth across the east coast with sale settlements up 36.3 per cent in NSW and 22.7 per cent in Queensland, the report found.

Many suburbs outside capital cities featured in the top 10 settlement postcodes.

In NSW, the greatest number of property sales were in Port Macquarie, Orange and Dubbo.

In Queensland, the most amount of sales were in Surfers Paradise, Southport and Maroochydore.

When it came to how buyers were funding their purchase, new residential loans were up 22.3 per cent in NSW and up 3.4 per cent in Victoria.

However, regional buyers were less likely to fund their purchase with a loan compared with their city counterparts.

About 66 per cent of regional settlements had a new loan compared with about 80 per cent of capital city settlements, pointing to lower regional property prices, the report found.

But, loans for settlements in regional areas grew much quicker than in capital city areas due to buyers flocking to regional areas to buy property.

In Sydney, new loans were up 15.9 per cent, whereas in the rest of NSW they were up 38.8 per cent.

It was a similar trend in Victoria, where new loans in Melbourne were up just 2.1 per cent, whereas they increased 35.2 per cent in the rest of the state.

 

Article Source: www.domain.com.au



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Gold Coast development site acquisitions soar: Knight Frank

Knight Frank latest development review report shows there has been a 238 per cent rise in high-density sites sold on the Gold Coast since 2019

The Gold Coast has seen a 238% surge in apartment development site purchases.

Sites along the Gold Coast Light Rail, have been keenly sought acquisitions along with popularity of suburbs such as Burleigh Heads, The Spit and Palm Beach.

Knight Frank calculated the high-density site purchases on the Gold Coast accounted for $167 million or 75% of all Gold Coast residential development sales in 2020, up from 29% the prior year.

The Gold Coast had also witness its residential market shift from being investor-led to owner-occupiers.

The 238% surge in Gold Coast apartment site acquisitions bucked the national trend of declining apartment site sales across all major capital cities, according to Knight Frank Research’s Australian Residential Development Review 2021.

Knight Frank

1 Cannes Avenue, Surfers Paradise QLD 4217 

The Gold Coast has also experienced greater pressure on their undersupplied rental markets, causing vacancy rates on the Gold Coast to tighten from 1.8% in 2019 to 0.9% in 2020, which in turn pushed rent values up by 1.2%.

First home buyers led the rise in new household loan commitments in both Brisbane and the Gold Coast, increasing their activity by 45% over 2020 in both markets to comprise a 29% share of all new loans approved in Queensland.

Knight Frank’s Head of Residential Research, Michelle Ciesielski said the jump in high-density site sales reflects the spotlight being placed on the Gold Coast by local and interstate developers.

“It is a trend we anticipate will continue with more owner-occupiers buying Gold Coast apartments, especially from the downsizing cohort,” she said.

“There have been more options for developers down in the Gold Coast and this has been demonstrated in the significant uptick in development site sales in 2020,” Knight Frank Partner, Investment Sales – Queensland, Christian Sandstrom said.

“Developers are finding it difficult to locate good residential sites in Brisbane.

“Both cities have seen increased population growth in the pandemic, very low residential vacancy attracting ramping up interest from both local and interstate developers.”

 

Article Source: www.urban.com.au



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Thursday, 24 June 2021

Modern Office Block Planned to Neighbour Story Bridge

Plans for a five-storey commercial building nestled alongside some of Brisbane’s iconic heritage buildings have been lodged with Brisbane City Council.

Crete Investments as Trustee For Raptis Property Trust No.2 has lodged a development application for a 662sq m site at 180 Main Street at Kangaroo Point.

The property neighbours the Story Bridge and heritage-listed Carroll House, an 1870s two-storey terrace of shops and residences, that conveys the history of one of Brisbane’s oldest suburbs.

The Jackson Teece-designed five-storey commercial building would include two basement levels, a ground floor cafe or bar and retail tenancy, and four floors of commercial space.

The five-storey height would be consistent with an adjacent property and the elevation of the Story Bridge.

Place Design Group’s Nicholas Holt wrote in the planning report the development would add to the “vitality” of the Kangaroo Point area.

“The proposed development will deliver a new contemporary five-storey building located adjacent to the Story Bridge with direct views to the Brisbane CBD providing a significant contribution to the vitality and image of Kangaroo Point,” he said.

“Landscaping has been provided as part of the proposed development through the inclusion of various integrated podium and verge planting together with a significant street corner tree adapting to the sub-tropical environment and visual interest of the building.”

Story Bridge

▲ A two-storey podium and setbacks were designed to make the commercial building more sympathetic to its heritage surroundings. Image: Jackson Teece 

The roof height is 25.5m “to ensure no obstruction or encroachment into the height clearance zone of the adjoining Story Bridge” according to the town planning report.

“The proposed development is responsive to the site and general character of the Kangaroo Point locality and provides a smooth transition between the built form adjoining [the site] and the Story Bridge to the east.

“A substantial level of glass facade has been incorporated together with podium landscaping to provide a built form outcome that responds to the site characteristics and sub-tropical elements of Brisbane.”

Pre-lodgement minutes from December 2020 indicated the initial plans were not sympathetic enough to the heritage-listed “rare 1870s two-storey masonry terrace of shops and residences” it would abut.

But a heritage consultation report has found the development would not adversely impact the state significant Story Bridge, and would serve to activate Main St, adjoining heritage-listed Carroll House.

 

Article Source: www.theurbandeveloper.com



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Pressure Mounts on Sunshine Coast Land Supply

Sunshine Coast is now home to the smallest lot sizes in south-east Queensland and the most expensive land, excluding Brisbane City, causing land constraint and affordability issues in the booming region.

Property researcher Terry Ryder’s report into the Sunshine Coast land supply issues has identified a lack of affordable housing and under-employment as key issues for the coast’s economy, as well as a diminished construction industry.

“There is economic impact if home building is curtailed through the lack of residential land,” Ryder said.

“Census data indicates that construction is the second-largest industry sector in terms of employment in the Sunshine Coast region.

“The land supply crisis has the potential to create an economic crisis for the region’s second biggest industry.

“The region is already feeling the pinch with both the building and hospitality industries struggling to find staff.

“There will be long-term impacts on major regional projects such as the new Maroochydore CBD, the Sunshine Coast airport expansion and the major health precincts if employees can’t find suitable accommodation for their staff.”

But the Sunshine Coast Council rejected Ryder’s claims more needed to be done to unlock the coast’s development potential.

The council’s plan for growth on the coast was for 62 per cent of development to be infill in urban areas, while the balance would be greenfield development.

According to the Regional Australia Institute, the Sunshine Coast was predicted to be one of Australia’s fastest growing cities to 2030.

Current forecasts suggest the region would be home to 580,000 people in 2041, but with the long-term impacts of Covid-19 still to become apparent, it is difficult to know how accurate this picture is.

Sunshine Coast

▲ An aerial view of Stockland’s Aura masterplanned estate on the Sunshine Coast. Image: Supplied 

In the Sunshine Coast Land Crisis report, Ryder said the paucity of developable land was a critical factor for the region’s growth.

“It is important to understand that the Sunshine Coast’s population will increase and all of the data available indicates that the region has inadequate land to accommodate [it],” he said.

“There is very little land available for new residential developments and the council’s view on having adequate land supply [through infill development] looks to be clearly in question.”

One of the biggest residential development sites on the Sunshine Coast is Aura at Caloundra South, where developer Stockland brought forward the release of 56 of the 4000 lots on the site to accommodate the high level of enquiry.

The suburb, named Banya after the Bunya Tree, will compromise 4000 homes and townhouses when completed during the next 10 years, with 50,000 residents anticipated to move in.

Rise in median prices—Sunshine Coast

Suburb Jan ’21 April ’21 % change
Marcoola $705,000 $770,000 9.2%
Coolum Beach $710,000 $780,000 9.8%
Twin Waters $850,000 $930,000 9.4%
Sunrise Beach $990,000 $1,090,000 11.1%
Sunshine Beach $1,975,000 $2,050,000 3.8%
Noosa $1,150,000 $1,400,000 21.7%

^Source: Sunshine Coast Land Crisis report

Property Council Sunshine Coast committee chair Brad Williams said there was a “real lack of housing product and diversity on offer” to the north of the Maroochy River.

“We certainly need to fast track some developable land north of the river or we will continue to feel the impact of our growing pains well into the foreseeable future,” Williams said.

Prices have increased between 9 and 21 per cent during the past three months on the Sunshine Coast.

A Directive Collective report released recently indicated that the Sunshine Coast would need a new suburb every year during the next 20 years to accommodate forecast population growth on the coast.

The report suggests that there is already an undersupply of 6500 dwellings, which would grow to 8500 dwellings required in 2026.

Directive Collective’s Mal Cayley said the shrinking greenfield opportunities meant the Sunshine Coast needed to focus on infill redevelopment opportunities into the future.

 

Article Source: www.theurbandeveloper.com



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Wednesday, 23 June 2021

A bridge too near: Plans for commercial building to nuzzle Story Bridge deck

Brisbane’s iconic Story Bridge is set to have another close neighbour, with plans lodged for a five-level commercial building located hard up against the bridge’s deck in Main St, Kangaroo Point.

Developers Crete Investments and Raptis Property Trust want to erect an office and retail complex on the corner of Main and Wharf Sts that will almost crest the decking of the bridge’s inbound lanes.

The unusual siting of the development has prompted the concern of Brisbane City Council planners, who have expressed worries about its impact on a highly regarded heritage area of the city.

While officers say they support the proposal “in principle”, they have told the developers that the building must not interfere with views to and from the Story Bridge.

A report from a pre-lodgement meeting with council officers states that developers must “demonstrate that the proposal will have a built form that is subordinate to the Story Bridge, and preserves views to and from the Story Bridge and Bradfield Highway deck”.

However, heritage and planning consultants commissioned by the developers have given the proposal the all clear, according to documents submitted to the council.

The development application lodged with the council this week proposes a “new contemporary five storey building located adjacent to the Story Bridge with direct views to the Brisbane CBD providing a significant contribution to the vitality and image of Kangaroo Point”.

The building would also sit above the northbound lanes of the Clem 7 tunnel and next to the heritage listed Carroll House, built more than 130 years ago but which is now part of the headquarters of the Night Owl convenience store chain.

A planning assessment by consultants Place Design Group says the building will include an “aluminium capped roof material that does not detract from the adjoining Story Bridge with a colour choice that will respond to the immediate character of the area”.

“The proposed commercial and retail development is considered the most appropriate use of the site, given the compromised amenity from the Story Bridge for a residential use,” teh assessment report states.

“It is important to note that there are a significant number of high-rise residential buildings within proximity to the site, ensuring that the precinct remains predominantly residential in nature.”

 

Article Source: inqld.com.au



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Mirvac secure $95 milion of sales at Quay Waterfront, Newstead apartment development

Quay is one of the two approved apartment building’s in Mirvac’s $1 billion Waterfront Newstead community on Skyring Terrace on the Brisbane River

The ASX-listed national developer Mirvac have sold over half of the apartments in their $180 million Newstead apartment tower Quay.

Quay is one of the two approved apartment building’s in Mirvac’s $1 billion Waterfront Newstead community on Skyring Terrace on the Brisbane River.

Mirvac had just been running a registration’s of interest campaign, with public release starting in the next few weeks.

 Quay

Quay Waterfront Newstead 57 Skyring Terrace, Newstead QLD 4006 

Quay will comprise 143 one, two and three bedroom apartments priced from $382,000 across its 25 levels. The expansive three and four bedroom sky pavilions start from $2,925,000.

The striking building, designed by Mirvac’s award-winning in-house design team, will feature lush landscaping climbing the tower by landscape architect RPS.

Mirvac Head of Residential Stuart Penklis said there had been significant demand for the premium riverside apartments, which were located on a prime site at 57 Skyring Terrace, at the gateway to the Waterfront Newstead community.

“To have the apartments be so well received is a huge achievement and testament to the design and quality of Quay,” Penklis said.

“From the moment we started work on the sales centre we were inundated with enquiry and had a waiting-list of buyers, with sales predominately made to those already living in the local area or who had purchased or lived in a Mirvac community previously.

“We expect the high interest will continue now the apartments are officially released, with demand for premium property in Brisbane remaining extremely strong – particularly for lifestyle destinations such as Quay, which enjoys a position alongside the Brisbane River, just two kilometres from the CBD and surrounded by vibrant cafés, restaurants and retail.”

Quay features just seven apartments per level to level 19, and three from level 20 and above.

Mirvac Design and RPS combined to create the lush landscaping up the facade of the building, turning the balconies in to an elevated backyard.

uay will home one of Brisbane’s largest rooftop entertaining areas, complete with a 25 metre infinity edge pool. There will also have be a shared penthouse style kitchen and dining space with views across the Brisbane River and a ground-level wellness retreat, featuring a yoga studio.

Quay features just seven apartments per level to 19, and three from level 20 and above, ensuring each enjoys generous proportions inside, with large sculptured balconies and lush planting providing an ‘elevated backyard’.

High ceilings and expansive glass frontages draw in natural light and ventilation, while framing panoramic views of the Brisbane River and city skyline vistas.

Quay follows on from Mirvac’s highly successful previous stages at Waterfront Newstead – Pier, Park and Unison.

The strong sales have prompted Mirvac to bring forward planning for the next apartment release at Waterfront Newstead, with the developer now taking registrations of interest from prospective purchasers.

 

Article Source: www.urban.com.au



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QLD island property listed for less than house in parts of Logan

This spectacular island property off Far North Queensland has two houses, a beach hut and views to rival the Maldives. But this one w...