Sunday 31 July 2022

The secret properties for sale that every buyer needs to know about

Real estate agents, from time to time, have a secret stash of properties for sale.

In the business, this surreptitious list is called “off market” and every buyer should know about it.

Off market means that the vendor has not paid for a public advertising campaign, either online or in newspapers and magazines.

Instead, they are relying on their agent’s little black book of contacts to get the deal done.

For some sellers, it is a way to the test the market and see if a buyer will meet them on price, before committing to the expense of advertising (on top of the agent fees). In a market that is shifting gears, such as this, it’s an option in their kit bag.

For that reason alone, you want to be on the roll call of prospective buyers invited to view off-market properties.

This is where intent as a buyer can be so persuasive.

Let’s liken searching for a property to wooing a paramour.

Imagine you are going on a first date. Do you wear cologne or perfume? Do you take them a restaurant? Or do you swoosh along in tracksuit pants, and whisk them through a take-away drive through? It depends how serious you are, right?

off-market properties for sale
Off market involves negotiation and an acceptable offer. (Domain)

The same goes for approaching a real estate agent. Will do you say and do the things that show you mean business?

This starts exactly knowing your budget and perhaps going as far as having pre-approval sorted with a lender.

If you’ve done those things, an agent will see you are a surer bet and show your their off-market selection of properties for sale.

The contracts are signed and exchanged if the parties can agree on an acceptable offer.

In the higher end of the market, up to 70 per cent of properties are traded off market, agents say. This is due to the discreet nature of the transaction (they don’t much fancy their neighbours knowing their business).

However, off market is increasingly more available at every price point.

At the next open for inspection, ask an agent what they have off market at the price, size and type of property you are looking for. And be the one they ring when a new vendor, eschewing an ad campaign, slides the keys across their desk.

Article source:

from Queensland Property Investor

Thursday 28 July 2022

Keylin Hits Sweet Spot as Gold Coast Booms

Keylin Group is well advanced on a $650-million townhouse project on the northern Gold Coast that it hopes will tap the widening demand for new dwelling types in established areas.

Keylin, alongside joint venture partners Kinstone Developments, is close to delivering the first estate, Serenity Green, on a peninsula bounded by Lake Serenity, Coombabah Lakelands conservation area and Saltwater Creek.

The 60-townhouse development forms part of a broader masterplan, known as Serenity 4212, one of the largest waterfront projects under way on the Gold Coast.

The masterplan is being built across a narrow 65ha site in the Hope Island and Helensvale areas, about 50km south of Brisbane.

Keylin Group bought the site from Malaysian developers Sime Darby and Brunsfield for $50 million in late 2019 after Sime Darby undertook a global strategy to sell non-core assets from places such as Singapore, Vietnam and Australia. 

Keylin Group director Louis Cheung told The Urban Developer the vacant site, which has 15ha of developable land, had been purchased with historical planning approvals as well as $25 million in earthworks by the previous owners.

Cheung will be among speakers at The Urban Developer’s Residential Greenfield vSummit on Thursday, July 28. 

Serenity Green Location
▲ The three estates will be bounded by mature trees and greenery of the neighbouring parkland and reserve.

“There was a stigma [prior to our purchase] associated with the site that it would never progress,” Cheung said.  

“After sitting abandoned for several years under the previous developer, rebuilding confidence in the local market was key to the project’s acceptance and the sales campaign success.

“We saw an opportunity to communicate a more sustainable, sensitive design approach that would result in less density on the site and a better community outcome.

“Following a rebranding and masterplanning process, involving extensive community engagement and communication we now have three estates that will embrace modern architecture, natural light and space to provide a resort-style lifestyle.”

Each of Serenity Green’s 60 townhouses will feature four bedrooms, two bathrooms and two car garages as well as open-plan living spaces, quality finishings and landscaped gardens.  

Since the project’s launch in 2020, the masterplanned development has released three communities, Serenity Green, Serenity Waters and Serenity Reserve; all of which have achieved sell-out success with future releases planned. 

Both townhome developments; Serenity Green and Serenity Reserve are under construction. 

Established in 2005, Keylin has a reputation for developing apartment, townhouse and commercial developments in Brisbane and the Gold Coast.

The developer has played a major role in transforming central Hope Island on the northern Gold Coast over the past four years, developing almost $100 million in residential projects.

Cheung said that over the years Keylin had remained focused on delivering architecturally led residential products that met the investment needs of growing families, savvy couples and discerning retirees as well as the broader communities in which it built.

Serenity Green
▲ Serenity Green will be the masterplan’s first townhomes and will include 60 large four-bed, two-bath, two-car architectural homes.

Its next estate, Serenity Waters, best articulates this approach. Despite inheriting the site with approvals for 350 lots, Keylin opted for a proactive community engagement campaign and revised plan that better responded to local context, delivering subdivision of just 110 lots, well below the permitted density.

Serenity Waters will also include three community parks, a community pontoon, a loch providing boat access from Lake Serenity to the Gold Coast Broadwater and extensive landscaping and rehabilitation of covenant areas adjoining the Coombabah Lakelands Conservation Area.

The developer is also using sandstone blocks for the estate’s sculptural entryway, a coastal inspired material it said referenced the site’s proximity to the coast.

“​​All homes in Serenity Green and Serenity Waters sold off the plan prior to construction commencing, however, the project was launched during the pandemic so sales uptake was slow at first,” Cheung said.    

“In keeping with recent trends on the Gold Coast, the buyer demographic reflects a mix of local and interstate purchasers, most of whom are owner-occupiers.” 

The masterplan’s third estate, Serenity Reserve, will comprise 83 four bedrooms and two bathroom townhomes designed by architectural firm DBI with Modulus Architecture.

It will sit next to a dedicated natural reserve community park, part of 27ha being gifted by Keylin to the city council.

Cheung will present a case study-led presentation on Serenity Green at the Residential Greenfield Development vSummit.

The vSummit will include a keynote presentation by Research4 director Colin Keane as well as more than 15 industry experts to discuss the latest research and perspective on the current state of greenfield development and its outlook for the future. 

Article source:

from Queensland Property Investor

Tuesday 26 July 2022

Restaurateur’s campaign to fix Ipswich’s empty shops

Around Australia, there are millions of dollars worth of property sitting empty.

Once-bustling shopping strips resemble ghost towns.

Now one passionate restaurateur has had enough and wants action.

“This is what’s happening to our country, all the way along here, empty, empty. This country is a joke. We can do better,” said Ipswich local Mario Grimaldi.

Mario Grimaldi loves his city so much, he’s leading the charge for change.

“I was just driving past those shops that are vacant and that are always vacant and the buildings,” he told A Current Affair.

“Something just came over me and I thought I am just going to pull over and say something about this because I’m just sick and tired of seeing it.”

Normally Mario’s frothing lattes at his Italian restaurant in Ipswich, west of Brisbane.

But now he’s reached boiling point, taking to social media to show what he says is happening in some parts of his community.

“You have a look around here, look at these beautiful old buildings here. No one’s leasing them out,” he said.

Mario took us on a walking tour of the CBD where we saw a number of vacant shop fronts on one corner.

“This has always been vacant as long as I can remember,” he said.

“I think people even sleep under here and it’s sad to see.

“Why isn’t there somewhere for them to sleep, even for the night, especially we’ve got all this vacant space.”

Heritage buildings, empty shops, are all wasting away, while councils and the state government continue to build and invest in newer infrastructure.

“They are building all these shops and then you’ve still got half of the city still vacant,” he said.

Some of these abandoned buildings are state government-owned and Mario wants to see them and others put to good use, ultimately wanting to see them transformed into homes.

Real Estate Institute of Queensland CEO Antonia Mercorella said it’s a national issue.

There are very similar scenes in Cleveland near Brisbane and locals are blaming vacancies there on high rents, a lack of foot traffic and ageing infrastructure.

The same goes for Melbourne’s Bridge Road in Richmond, which has a new retail vacancy high of 26 per cent.

“I think it’s really important that we turn our minds to any spaces that may be under-utilised and we think in an innovative and creative way about how we can use that space for the purposes of housing,” Antonia said.

“But it does require local government and town planners to be more flexible in their thinking.”

Mario is now planning a community meeting in Ipswich to show support for struggling businesses and he wants all of us to do the same

“It’s really to support the local community, local shops, local retail shops,” he said.

Article source:

from Queensland Property Investor

Monday 25 July 2022

Final luxury apartments released as beach resort reaches milestone

The last few apartments have been released at a ground-breaking $90 million resort as the project reaches another major milestone despite tough times in the industry.

Most of the units in Lowanna Beach Resort, Buddina, were snapped up when the resort was placed on the market in early 2021.

Less than 10 per cent of the 112 residential apartments and five commercial units remain available for sale.

The move comes as the project’s development team announced Brisbane-based Constructions Group (Aust) as the design-and-construct builder.

Lowanna Beach Resort developer Lorna Willis said Constructions Group was chosen because of its outstanding reputation for delivering $1.5billion in projects, including many award-winners.

“The vision for Lowanna Beach Resort has always been to create a space of exquisite beauty and outstanding quality, and of course we wanted to work with Constructions Group with their reputation for being a progressive and dynamic commercial construction company providing the highest level of service,” said Ms Willis.

“The Constructions Group team brilliantly complement our development team with the shared principle of delivering excellence.”

A “significant number” of women are investors in Lowanna and learning the ropes of being a developer through this project.

The ladies are connected through WOW Property Women, a group which supports and encourages other females blazing a trail in property development.

resort’s pool
A concept design of the resort’s pool.

Ms Willis said it had been an incredibly challenging period for the construction industry with every builder, developer, tradesperson, and project in Australia impacted, and unfortunately many companies have not survived.

“This is something we’ve been increasingly focused on as we made the final decision on our build partner to ensure we protected our development and all buyers from such risk to the greatest extent possible,” she said.

“With extra due diligence performed, we are very confident in Constructions Group’s ability to deliver our project as we envisage,” said Ms. Willis.

Lowanna Beach Resort’s 1, 2, 3-bed and dual key apartments have been incredibly popular since they were launched and sold quickly until units were withheld from the market while the builder was finalised.

The few remaining units have now been released to the market, with less than 10 per cent available for sale.

Priced from just $700,000, the remaining few apartments boast spacious living areas, large balconies, plenty of storage and luxurious shared resort facilities that include pool, yoga lawn, BBQ and clubhouse.

Ms Willis said the chosen builder had recently worked with her project management team – One Project Mgmt Group – on The Peninsula Hope Island on the Gold Coast.

“It gives us great confidence that both these teams work well together and highly regard one another’s quality and integrity,” said Ms. Willis.

One Project Mgmt Group managing director Peter Ward said a building and construction company with in-house architects was a rarity these days, but Constructions Group had maintained this tradition.

“To have the quality and pedigree of Constructions Group on board for Lowanna Beach Resort is really great for the project,” said Mr Ward.

“They are a terrific group who have been around for over 26 years and not only have a great reputation, but I’ve worked closely with them and highly recommend and applaud their approach and dedication to each project they work on.”

The development and building teams are now finalising details to set a construction start date, with demolition of the existing houses on the site at Lowanna Drive and Bermagui Crescent already complete.

Article source:

from Queensland Property Investor

Friday 22 July 2022

Aniko Group fast track construction of 35 Grant Avenue as Hope Island project edges closer to sell-out

Gold Coast developers Aniko Group has achieved a near sell-out ahead of construction on their Hope Island project, 35 Grant Avenue, prompting the group to fast track construction within weeks.

The $58 million development achieved sales success before the official launch of the luxury waterfront project, driven by strong demand from local buyers looking to secure a position in one of the northern Gold Coast’s most sought-after lifestyle suburb.

Over 90 per cent of the total 58 townhouses and duplex villas have already been sold, achieving over $53 million in sales to date, with just five residences remaining – including two waterfront villas.

The $53 million in sales achieved by Aniko represent an average price of $1 million for 35 Grant Avenue, which Aniko Group Managing Director George Mastrocostas said highlights the continued strength of the market for quality residences at Hope Island.

“35 Grant Avenue has appealed to a broad cross-section of buyers from singles, couples, families and retirees,” Mastrocostas said.

“All have been drawn by the waterfront lifestyle afforded by the location and the level of amenities we have included to elevate the residential offering.”

Aniko Group Hope Island Project

Prices for the remaining residences range from $875,000 for townhouses to $1.5 million for the waterfront villas which come with a private waterfront plunge pool.

“35 Grant Avenue has been designed as a stand-out development for the Hope Island waterfront precinct by bringing a sense of space and proportion through the inclusion of extensive open areas on site.”

Designed for resort-style living, the development will feature a range of state-of-the-art amenities for residents including a spacious pool area with sun-beds and outdoor showers, a communal herb garden, barbecue facilities and a fire pit.

Set in a gated community, featuring an expansive park precinct with meandering walkways and gardens, a number of the townhomes will connect directly to the community’s central park and pool recreation areas.

Also available is a select number of marina berths that provide bridge free access to the Gold Coast’s aquatic playground of island waterways and the Broadwater, with access exclusive to the residents.

The latest development adds to the company’s portfolio of projects at Hope Island, totalling more than $500 million over the last three years, with 35 Grant Avenue set to build on the company’s three previous successful projects.

Article source:

from Queensland Property Investor

How to calculate the market value of a property

When buying a property, people will usually check its price first. In real estate, we often talk about the market price of a house, which is the price at which it could be sold on the open market. 

However, the market price is different from the market value. The market price is determined by whatever price the seller agrees with to sell their property, which can be more or less than the actual market value.

The market value of a property is defined as its worth in the marketplace. It is based on the professional opinion of a third-party valuer, who is licensed to advise individuals or businesses on the value of their property.

In this article, we discuss the different ways to calculate the market value of a property so you can appropriately know the value of a property you are buying or selling.

Valuation v appraisal

Before we get to the methods of valuation that you can do, let’s differentiate valuation from an appraisal.

Valuation is an assessment of a property’s value based on several factors. It is a formal process done by a certified practising valuer, which is thorough research on the location, condition, features, and size of the property to determine its market value. After which, they provide a valuation report, a legal document that contains all the facts and information about a property.

There are several uses for a valuation report, such as lenders that use it as a basis for the value of the property in assessing a mortgage loan application.

The professional fee charged by a certified practising valuer will depend on your location. Because they are legally responsible for the information they provide, their services are not free.

On the other hand, a property appraisal is a professional opinion by a real estate agent on the value of a property. It is only considered a guide to the pricing since appraisals have no legal significance.

Agents will sometimes offer an appraisal free of charge in order to win your custom. However, not all agents are qualified to do appraisals, and some are better at it than others. 

If you need an expert opinion on the market value of your home but don’t want to use your local agent’s services (for whatever reason), look into hiring someone outside the industry who has been professionally trained in valuing homes and commercial properties.

But if you’re still unsure of the need for a formal valuation or appraisal and just want to get a ballpark figure, there are several online valuation tools available out there with property calculators to help you get a general idea of prices for a certain location. 

How to calculate the market value of a property

There are many different ways to determine what the value might be for your property. For this article, we break it down into three simple ways that you can easily do even without professional help. 

Three ways to find the market value of a property:

  • Comparable sales method
  • Income method
  • Cost method

Comparable sales method

The comparable sales method is one of the most common ways to determine the value of a property. Not only is it applicable to residential properties, but to commercial properties as well. 

To do this, you need to take note of the features of the property whose value you’re trying to identify. Find similar or comparable properties that have been sold in the last three to six months, keeping the closing price into consideration.

Let’s say you’re looking for a house with five bedrooms. You check all of the properties in the same suburb with five bedrooms that were recently sold and notice how they will have different price points based on the size of the house, rooms and features that it comes with. This house might have a bigger garden, while another house might have a bigger parking space, the price can be more or less the same.

Look at the price per square foot for each property — a measure that gives you an apples-to-apples comparison between different homes and neighbourhoods. From there, you can get more precise by considering other relevant factors such as location, number of bedrooms/baths, age and size of the lot.

Income method

The income method is a common valuation method for income-producing properties, such as rental apartments and leased spaces for commercial use. It uses the income the property generated to determine its value.

To calculate this, you divide the net operating income (NOI) by its capitalisation rate. The net operating income (NOI) is the net annual income of the rental property minus all operating expenses, while capitalisation or cap rate refers to the returns you expect from a rental property.

You define the capitalisation rate based on how much the returns you want to achieve from the property. For example, an apartment building with a net operating income (NOI) of $850,000 and a chosen capitalisation rate of 9 per cent is valued at $9.4 million.

The most accurate way to determine market value with this approach would be to examine similar properties that are currently on the market and sold in your area. 

This will give you an idea of what buyers are willing to pay for similar properties in your area, but there is no guarantee that those same buyers would pay that price for yours if it were listed for sale today.

Cost method

The cost method calculates the value of empty land or a property that is yet to be built. It is a reliable way to figure out the value of a commercial property, industrial property, or bare land. 

First, you need to estimate the value of the vacant land. Determine the estimated cost for the construction of a home or building, including its materials and labour, then deduct an estimated amount for its depreciation. Finally, add the land value to the depreciated construction cost.

Let’s say you want to build a fulfilment centre on land that is valued at $50,000. The size of the land is 5,000 square feet, and the quotation given by a contractor is $50 per square foot or $250,000 in total. Your account for its depreciation is by 25 per cent, leaving you with a total construction cost of $187,500. You then add the land value of $50,000 to the depreciated construction cost of $187,500 and find the property to be valued at $237,000.

This method is usually for special-use properties or newly constructed properties that don’t have similar properties for comparison. It starts by calculating how much would it cost to build a new, rebuild a replica or similar property with comparable materials, features, and amenities.

Check your local market conditions

Market conditions are essential to consider when determining the value of your property. If you’re thinking about selling, understanding what similar homes are selling for in your neighbourhood will help you identify a realistic price range and understand how much interest there is in the market at this time.

In addition to comparing recent sales prices with the asking price, it’s also useful to look at historical data on home sales in your area over time. This information can reveal trends that may affect future values (for example, if there has been an increase in demand due to population growth).

Be careful in deciding how to value your property

When you’re on the selling end of the transaction and deciding how to value your property, you have to be careful since there are several different approaches you can take when determining the market value of a piece of real estate. 

The most common method is comparing similar properties that have recently sold in the area and multiplying those numbers by what you think yours will sell for. This works well if there are many similar properties available nearby; however, if there aren’t any recent sales in your area with comparable features and size — or if the ones that do exist were bought under different circumstances than yours — you may want to use another approach.

Another option is using an appraiser or realtor’s estimate based on their experience observing trends over time at various price levels across geographic regions where homes tend to sell for more than others due mostly (but not entirely) to factors outside their own control such as climate zone type.

The market value of a property is worth the highest price that a buyer is willing to pay and a seller is willing to accept

In the real estate world, we often hear the phrase market value. But what exactly is market value?

Market value is simply the highest price that a buyer is willing to pay and a seller is willing to accept. It’s not always the same as what a property sells for because there are other factors that come into play. 

For example, if you ask how much your house would be worth on today’s market, it may be listed at $200,000 but sell for more or less than that depending on whether you have an open house when buyers are looking (and how competitive their offers are). 

And even if your home was listed for $200,000 and then sold for exactly $200,000 just days later, does this mean its market value was precisely equal to its sales price? No — because it could have been purchased by someone willing to pay more!

So keep all these variables in mind when thinking about market value:

  • The property is valued (e.g., single-family home) versus commercial property or land;
  • Whether or not there’s any competition among buyers;
  • How long does it take before finding another buyer with the money ready to spend on such purchases


There are many different methods of calculating the market value of a property. Some are more complicated than others, and some have more limitations. The most important thing is to get an estimate that is as accurate as possible so that you can make an informed decision about selling or buying property in your area.

Article source:

from Queensland Property Investor

Full to the brim: Noosa bucks the trend as the rental crisis gets worse

Brisbane’s rental vacancy rate was worsening but regional areas like Goondiwindi and Southern Downs were at rock bottom with a rate barely above zero, according the Real Estate Institute of Queensland.

However, there was a ray of hope in tourists towns like Noosa and Caloundra where the vacancy rate increased, although the REIQ had no way of explaining it.

REIQ chief executive Antonia Mercorella said Queenslanders had been enduring wafer-thin vacancy rates for some time now and the conditions were having social and economic ramifications.

She said the fact inner-city Brisbane’s rental market grew significantly tighter this quarter (0.8 per cent) could be a sign of just how depleted supply in the capital city had become.

“Typically, inner-city apartment supply is more bountiful and keeps Brisbane’s vacancy rate quite buoyant, but what we’re seeing now, is that even this market is being filled to the brim,” she said.

“Real estate agents in regional parts of Queensland have reported that incredibly tight vacancy rates are making it tough for hospital workers, teaching staff, and students to find a place to live in proximity to their essential work or study.

“These people bring skills and spending to the regions, all contributing to the economic prosperity and social fabric of the area, and it’s a truly concerning loss to these communities when they simply cannot house them.

“People are also slipping through the cracks in the growing queues for social housing, and there’s no doubt that the Government’s poor planning and lack of forecasting for our future needs has played a fairly significant role in where we find ourselves today.

“What we need now is creative solutions to breathe the life back into our flatlining vacancy rates and a genuine long-term plan for housing our population now and into the future.”

The REIQ data showed vacancy rates in Maryborough and the Tablelands was 0.2 per cent, while Banana (0.5 per cent), Charters Towers (0.4 per cent) and Isaac (1 per cent) all had falls in the vacancy rate.

Gladstone was at 1 per cent, Mackay and Townsville were at 0.5 per cent while Mt Isa was level with Noosa at 1.1 per cent.

Rockhampton (0.4 per cent), Toowoomba (0.3 per cent), Cook (0.4 per cent), the Scenic Rim and Lockyer Valley (0.5 per cent) all had plateuing rates.

Article source:

from Queensland Property Investor

Thursday 21 July 2022

How much for a slice of paradise on the coast? About $20 million

Singapore’s wealthy Ho family, headed by brothers Whye Chung Ho and Whye Tong Ho, have listed their long-held Palm Cove site in Far North Queensland amid expectations of about $20 million.

The 6.73 hectares of bushland on the oceanfront north of Palm Cove Jetty was purchased in 1993 when the Ho family owned the luxury Novotel Palm Cove Resort, now known as the Grand Chancellor Palm Cove.

The property comes with DA approval for apartments, a hotel and further subdivision, but is being marketed ideally to a buyer with plans for a private family retreat, given the demand for such lifestyle properties since the COVID-19 pandemic hit.

“By far the best outcome would be a very small, beautifully executed private compound,” said architect Gary Hunt.

“You’re high enough up that it’s not going to be a fundamental issue to develop a sanctuary.”

It comes less than a week after Dunk Island, near Mission Beach, sold for $24 million to Annie Cannon-Brookes, wife of tech billionaire Mike Cannon-Brookes.

The Ho family first listed it in 2014 with $20 million hopes, and again in 2019, but it was withdrawn during the initial stages of the pandemic.

The Ho family have listed the property with Forbes Global Properties’ Ken Jacobs, Tracey Atkins and Robert Fletcher.

The Ho brothers have been avid commercial and residential investors since the early 1980s, when they bought the Hyatt Kingsgate Hotel at Kings Cross and Birkenhead Point shopping complex at Drummoyne.

The Palm Cove property is just the latest in a string of significant sales by the family in Australia, including Whye Chung Ho’s Bellevue Hill trophy home for $25.5 million last year to millennial property investor William Wu.

Ho’s former Sydney home was the Darling Point residence Glanworth, purchased in 1994 for $8.5 million from James Fairfax and sold four years later for $9.5 million to media titan Kerry Stokes, given Ho’s move to Bellevue Hill.

Article source:

from Queensland Property Investor

Revealed: 5 regional markets where boom is set to continue

The current market slowdown that was initially felt in some major cities are now manifesting in regional areas, but some markets are expected to defy this slowdown and continue to boom over the next few years.

InvestorKit founder Arjun Paliwal said most regional areas were already seeing an internal migration surge pre-pandemic that continued over the past two years, resulting in these areas outperforming capital cities in terms of price growth.

“While our capital cities like Sydney and Melbourne will continue to decline due to being more sensitive to finance and monetary changes such as the interest rate hikes, many of Australia’s regional cities will continue to see strong performance until at least 2023 – and potentially even longer, with how undersupplied they are,” he said.

“There are still plenty of regional areas with strong growth potential, due to common factors, including an undersupply in both properties for sale and rent, booming local job markets, a strong outlook of infrastructure development in the pipeline, accessible lifestyle, and affordability.”

CoreLogic’s June Home Value Index showed that every broad rest of state region is already past their peak rate of growth, with price gains easing across these markets.

However, here are five regional markets that are set to extend their boom times over the next few years.

Tamworth, New South Wales

Tamworth experienced a 53% capital growth over the last decade — while this growth is lower than the major cities, it suggests further opportunities for gains.

In fact, this region is already shaping up, as sales volumes rise by 30% year-on-year while days-on-market fall by 54%.

Mr Paliwal said Tamworth is heavily undersupplied compared to its position pre-pandemic.

“When you combine low stock, faster selling and more buying, this indicates a rising price trend. Tamworth’s extremely low vacancy rate sitting well below one per cent will see rents rise, so we can expect Tamworth property to be on an upward trend,” he said.

Another upside for Tamworth is the undergoing infrastructure boom, with projects ranging from the University of New England campus to the renewable energy development for solar and wind farms along with the Narrabri Gas Project.

Its local market is also thriving, with unemployment levels at 4.3%.

Bundaberg, Queensland

Boasting its affordability despite the appeal for attractive lifestyle and coastal living, Bundaberg offers family homes with values ranging from $580,000 to $750,000.

Bundaberg is also within commuting distance to the Sunshine Coast.

Over the past year, property prices in this market have risen by 32%, on top of the 30% increase over the past 10 years.

The market remains undersupplied, even the rental market that would likely see rental prices increase by $50 to $100 over the next two years.

“While many are concerned about rising interest rates, the good news for investors is the increased rent prices will balance out the rising cash rate,” Mr Paliwal said.

Toowoomba, Queensland

Investors who are looking for solid growth fundamentals should consider Toowoomba, which is supported by its diverse infrastructure pipeline. These projects include the major Inland Rail project, Toowoomba Hospital redevelopment, the cannabis producing facilities, and more than $1.8bn in various energy projects across gas, solar and wind.

Despite being within commuting distance to Brisbane, Toowoomba offers greater affordability for buyers.

A testament to its popularity is its brief sale days-on-market, with properties selling 51% faster than the same time last year. This makes it one of the fastest selling regions in the country.

Meanwhile, the vacancy rates in Toowoomba are extremely low, with data suggesting it will see $50-100 rental increases over the 12 months ahead.

“So, when you combine affordability, a diverse and strong infrastructure pipeline, rising rents to combat interest rates and also a strength in the local job market, it provides a very positive outlook for investors,” Mr Paliwal said.

Barossa Valley, South Australia

Buyers who prefer more living space at an affordable price without being too far from the state capital should put the Barossa Valley on their list.

Mr Paliwal said aside from its well-known wineries and emerging foodie culture, the Barossa Valley is now becoming known for five industries: manufacturing, healthcare, agricultural, retail, and education.

“Like many of the other regions, Barossa Valley has an extremely healthy property market as it underperformed over its 10-year averages, but is now catching up,” he said.

“Further, there are increasing levels of infrastructure, with the Twin Creek Wind Farm undergoing development stages and a new six-star hotel being approved for development — this will put Barossa Valley on the map for Australia and add to its global landscape.”

Albury-Wodonga, Victoria

Albury-Wodonga has boomed considerably over the past 10 years, but it remains one of the affordable markets with house prices ranging from $480,000 to $600,000.

Investors can also find comfort in the market’s tight rental conditions, which would certainly drive rent rises.

“Albury-Wodonga will become a key hub as part of the long-term Inland Rail, a 1700km freight rail network that will connect Melbourne and Brisbane via regional Victoria, New South Wales and Queensland,” Mr Paliwal said.

“This will have a favourable impact on local businesses and further help with the movement of their goods across the major cities.”

Article source:

from Queensland Property Investor

Lagoon Main Beach apartments fast tracked after strong interest

The biggest Main Beach apartment development in three decades is being fast-tracked to the market after strong initial interest on the two-tower project.

Lagoon Main Beach, which is being developed by local Drew Group, will comprise 248 one, two and three-bedroom apartments across two towers, Sunrise and Sunset, each taking in views of either the Pacific Ocean or the hinterland.

There will be just nine premium sky homes across the two towers, and three two-level penthouses, located on Cronin Avenue, just 100 metres from the Tedder Avenue lifestyle precinct.

The $390 million project comes with a high-end range of amenities designed to compliment the coastal way of life, including a pool oasis with private cabanas, indoor and outdoor lounges, fitness centre, yoga deck, surfboard storage, business hub and heated spa.

Construction is expected to commence on the approved development later this year, with completion slated for mid-2025.

Drew Group have recently opened their most recent project, Palm Beach Avenue (PBA), a vibrant new luxury dining experience grounding Drew Group’s just-completed Village development on the corner of Palm Beach Avenue and Gold Coast Highway.

PBA is the mastery of award-winning restaurateur and chef Daniel Ridgeway and his wife Ruggie who are behind two beloved Gold Coast establishments – Little Truffle and BiN 232 Pacific Fair.

Jonathan Drew, who heads up the family-run Drew Group, says the completed residential and dining precinct has provided a refreshed feel to central Palm Beach.

“We are immensely proud of what we have delivered to Palm Beach. It’s a great asset for not only residents, but the broader community as we work to transform Palm Beach into a luxury dining and holidaying precinct,” Drew said.

Lagoon Main Beach

“We are particularly delighted to have Daniel and Ruggie delivering a sensational restaurant on the ground floor. PBA is the standard of dining Palm Beach has been craving for some time and we look forward to hosting one of the Gold Coast’s top tier establishments for years to come.”

Construction on Village wrapped in March, a collection of 72 one, two and three-bedroom apartments and three beach houses fronting Jefferson Lane.

Already the development has welcomed a significant uplift in value, with the latest re-sale of a two-bedroom apartment showing a $600,000 price rise in just a matter of months.

The two-bed, two-bath unit at Village originally sold for $1,008,000 off the plan last year before being resold at auction in May this year for $1,680,000.

Jayde Pezet, Director of Pezet Matheson, says the significant uplift in re-sale value underpins the continued strength of demand in the Palm Beach market.

“Drew Group has a very sound understanding of market principles and a strategic focus on delivering projects which offer continued value to purchasers, long into the future,” Pezet says.

Article source:

from Queensland Property Investor

Penthouse Perfection with Panoramic Ocean Views in Palm Beach

Nestled amongst stretches of white-sand beaches and surf, Palm Beach is one of Queensland’s most sought-after locales, recording an annual growth rate of 21.8 per cent. The suburb experienced a median house price of A$732,500 and homes in the area stayed on the market for an average of 18 days.

Set 30 metres from the beach across two levels in an ode to spectacular penthouse living, this Palm Beach property is the epitome of luxe coastal living. The home occupies an unparalleled seafront location, delivering sweeping views of pristine Palm Beach waters.

Only moments from local shops and eateries and a mere 10-minute drive from the Gold Coast airport, this residence is a rare opportunity to live in the heart of all that the Gold Coast has to offer.

Palm Beach property

Swathed in luxury, the penthouse features a fully-equipped media room, endless walls of glass to bathe open-plan rooms in light and smooth timber flooring for an elegant finish.

What sets this property apart is its ability to make full use of its coastal position for sublime entertaining possibilities and everyday living.

A private rooftop terrace occupies the entire second floor and is fitted with an elevated pool, barbecue, bathroom area and unmatched views of Surfers Paradise. Spend your evenings swimming or cooking dinner on this terrace to the sounds of the ocean and crashing waves below.

The kitchen is primed for an opulent cooking experience, with a soft colour palette, complemented by sleek 2pac cabinetry and professional-grade appliances throughout. Intelligently mastering space, a butler’s pantry and ample storage are also included.

The accommodation is an example of truly sumptuous living, with a master bedroom that is fitted with a walk-in robe, deluxe marble ensuite and sunrise views over the water.

The epitome of lavish beachfront living, this opulent Palm Beach home is accepting offers over A$6,250,000.

penthouse living Palm Beach

Article source:


from Queensland Property Investor

Consolidated Properties to launch two-tower Toowong apartment development after council sign off

Leading private Brisbane developer, Consolidated Properties Group, in joint venture with the Qualitas Real Estate Opportunity Fund 2, has received approval for Monarch Residences, a $375 million development of the last significant riverfront parcel of land at Toowong in Brisbane.

The development of 600 Coronation Drive will see two 15-level towers built among three acres of riverfront gardens with around 130 metres of direct river frontage.

The development approval allows for a third 15-level tower to be built on the site, however it is expected that this third tower will not proceed to make way for the Toowong to West End Green Bridge in the future.

The two Monarch Residences towers will include 233 apartments that will be launched to market in Spring this year. There will be a mix of one, two, three and four bedroom skyhomes, river villas and penthouses. The Monarch Residences are priced from $550,000 for the one-bedroom apartments through to $8 million-plus for the penthouses.

Monarch Residences have been designed to maximise views across the Brisbane River and the city. AIA Gold Medal award-winning architect John Wardle Architects (JWA) has designed the development with support from local Brisbane architects Cottee Parker Associates.

Consolidated Properties Group Chairman Don O’Rorke said Monarch Residences will become the signature address in Brisbane’s inner west.

“Monarch Residences will set a new standard in apartment living in Toowong with its premium location and unsurpassed quality and style,” O’Rorke said.

“Monarch Residences is an outstanding offer and will be unique for the area with its extensive gardens which run to the river’s edge. It will become renowned in the local area, and we look forward to working with Hutchinson Builders to get it started.”

Monarch Residences site is rich in history, with the local community awaiting its development. It will provide a significant uplift for the local Toowong community as the development approval includes an extension of the Bicentennial Bikeway, a riverfront park and the restoration of the Heritage listed Middenbury House. Upon completion, Middenbury House will be accessible to the public for the first time since it was built in 1865. Its refurbishment will include a conversion into a café and restaurant.

Consolidated Properties Group and Qualitas Group purchased 600 Coronation Drive for $35.5 million from Sunland in March 2022. The site has been vacant since 2006 when the ABC decommissioned their operations.

Consolidated Properties Group Head of Residential James MacGinley said 85 per cent of those registered so far have been locals.

“Feedback on the apartment design from these locals have reaffirmed the deliberate approach we’ve taken to enlarge living areas and balconies to embrace Queensland living,” MacGinley said.

Article source:

from Queensland Property Investor

Wednesday 20 July 2022

Second Chermside Affordable Housing Project Filed

Brisbane Housing Company Limited—the state’s leading provider of affordable housing—is wasting no time in its partnership with the Queensland Investment Corporation, applying to build another 90 apartments in an eight-storey development just north of the capital.

BHC has lodged an application with the Brisbane City Council to amalgamate four adjoining lots in Chermside, 10km north of the CBD, where they want to build a medium-rise development,comprising 78 one and 12 two-bedrooms apartments. 

It also includes a communal recreation room, two levels of parking for 46 cars and an upper-level sky terrace.

Part of the application seeks permission for change of use of the 2453sq m property to one of multiple dwelling.

According to the application “the site offers a great opportunity for BHC to deliver affordable housing targeted at low income workers, while capitalising on the amenity provided by nearby parkland and public and active transport networks”.

It’s the second application BHC has filed for affordable housing in Chermside in almost as many months.

At the end of May, the developer filed plans for two developments—a 10-storey block of 82 apartments in Stones Corner and a 34-apartment development in Chermside.

The company already has Queensland’s biggest wholly-owned, purpose-built affordable housing portfolio—and one of the largest in Australia—with more than 1800 homes across the state.

In June, the Queensland government announced it would deliver 1200 new social and affordable homes through a partnership between BHC and the Queensland Investment Corporation.

BHC’s Jingeri at Glenalva Terrace
▲ BHC’s Jingeri at Glenalva Terrace, Enoggera—purpose built for people living with a disability—won the UDIA Wingate National Awards for Excellence in 2020.

This latest application, designed by KO and Co Architecture, began as a much smaller development.

At a pre-lodgement meeting with the council in December last year, BHC sought permission to build on a smaller holding.  Since then, they have acquired lots 6-8 Curwen Terrace, which adjoin the original properties.

BHC said an opportunity became available to increase the size of the project from two to four lots, which unlocked a more efficient design and increased the number of homes the site is able to deliver.

That pre-lodgement meeting also heard that about 195sq m of road-widening would be required.

The application said BHC are a long-term asset owner and have not on-sold any of their developments. Ownership is held under a single title.

According to BHC, rent is typically limited to 25 to 30 per cent of tenants’ incomes in affordable housing and tenants generally pay less than 75 per cent of the prevailing market rent.

“This project is being delivered as part of BHC’s ambitious growth strategy, reflecting our commitment to do all we can to respond to the significant demand from the community for safe, secure and affordable homes across Brisbane,” a company spokesman said.

BHC was incorporated in 2002 as a public company limited by shares. The Queensland government and Brisbane City Council are both ordinary shareholders.

Article source:

from Queensland Property Investor

‘Significant milestone’: when shortcut between Caloundra and Brisbane will be revving up

The long-awaited shortcut between Caloundra and the Bruce Highway that could slice up to 15 minutes off the drive to Brisbane has reached a major milestone.

Work on the $70 million Bells Creek Arterial Road, dubbed ‘The Arterial’, has taken a big step forward with the completion of two new bridges.

The fast-developing 11km link is now connected over the creek and the focus will turn to the southern connection for residents in Bells Creek.

Developer Stockland anticipates the new road, which will provide direct access to Aura, Australia’s largest master-planned community and home to 50,000 new residents, to be fully completed by June 2023 – just 11 short months away – subject to weather conditions.

Currently, all southbound drivers are forced to battle Caloundra Road, which has become increasingly congested.

Bells Creek Arterial Road, dubbed ‘The Arterial’

But the new alternative route will slice through the heart of Aura and its city centre before popping out at the Roys Road exit on the Bruce Highway.

The Arterial is funded 50-50 between the State Government and Stockland.

Transport and Main Roads Minister Mark Bailey celebrated the latest milestone, which he said was made possible by another record road and transport plan.

“We’ve handed down our seventh record road and transport plan, totalling $29.7 billion in projects across the state over four years,” Mr Bailey said.

“This investment will help Queenslanders get home safer and sooner, while supporting 25,200 good jobs across a wide number of industries.

“It’s fantastic to see the benefits of that investment in action here at Bells Creek.”

Member for Caloundra Jason Hunt said the new Arterial Road would meet the infrastructure needs of emerging communities in the rapidly growing Caloundra South area.

“Managing infrastructure capacity is vital to the success of new developments like Aura and we have worked closely with Stockland as they deliver this project,” Mr Hunt said.

“The construction of the two new bridges at Bells Creek signals that we are continuing to make progress on the major project.

“Once complete, locals will have a quicker, safer drive between Caloundra and the highway, especially those travelling to and from the Aura estate.”

Mr Hunt said work had also started on an overpass of Bells Creek Arterial Road to make crossing safer for people walking and riding to Baringa and Nirimba.

“The added active transport options being built as part of the project, including dedicated pedestrian and bike riding paths, are a real win for the community,” he said.

Stockland Project Director, Josh Sondergeld, acknowledged the important milestone for the Aura community.

“The Bells Creek Arterial Road is a significant piece of infrastructure to be delivered by Stockland,” Mr Sondergeld said.

“It will improve connectivity for the region and support the active lifestyle of the Aura community with dual-purpose bike and walking paths being central to the design,” he said.

“Construction of the Bells Creek Arterial Road is now around 60 per cent complete and we look forward to seeing the widespread benefits that it will provide once completed.”

The State Government committed $35 million to delivering the Bells Creek Arterial Road extension, with Stockland matching this contribution.

Article source:

from Queensland Property Investor

Soaring Costs Kill Plans for Gold Coast Super Tower

Melbourne’s most prolific high-rise developer has abandoned plans to build a $500-million luxury apartment tower on the beachfront at Surfers Paradise.

Central Equity blamed “turmoil” within the Queensland building industry for its decision to shelve its 56-storey Pacific One tower development.

The decision comes less than a year after Central Equity announced plans for the 486-apartment tower at Garfield Terrace, Northcliffe, with much fanfare.

“As a result of ongoing discussions with builders and quantity surveyors regarding the global supply-chain turmoil and Queensland construction industry crisis, Central Equity has decided not to proceed with the development of their Pacific One apartment tower on the Gold Coast,” the developer said in a prepared statement.

“The malaise facing builders, including staff shortages and supply-chain disruption, had resulted in the unprecedented escalation of construction costs for developers, making Pacific One economically unviable,” the statement said.

It was Central Equity’s first foray outside Melbourne, and into the booming Gold Coast apartment market. They had completed 85 projects in 35 years until now.

“The company feels strongly that it is better to move proactively now, when faced with such economic turbulence.”

The developer, quoting “industry sources”, said unit prices needed to rise by 20 per cent to cover increased labour and building costs.

Central Equity said there had been no issues with demand for the apartments, and all deposits would be returned to buyers and prospective buyers. It would not say how many apartments, including 184 planned as service apartments, had been sold.

Central Equity said it remained committed to expansion in Queensland and would retain the beachfront site.
▲ Central Equity said it remained committed to expansion in Queensland and would retain the beachfront site.

Construction of the tower, designed by Brisbane-based architectural firm Marchese Partners, had been expected to begin this year with Ray White appointed to market the one, two, three and four-bedroom apartments. The design included two swimming pools, private dining, gymnasium, and yoga studio.

Gold Coast sources say news of the abandoned project “will rock the local market”. The cancellation follows the shelving of other planned towers along the booming glitter strip, now feeling the pressure of its limited number of building contractors, ever-rising construction costs and supply-chain delays.

Despite this, Central Equity said it remained committed to expansion in Queensland, and would retain the site on the corner of Frederick Street and Garfield Terrace.

Ray White Surfers Paradise Group chairman Andrew Bell said Central Equity’s decision was a rational and mature one.

“Central Equity are being prudent in holding the site for future development,” Bell said.

Article source:

from Queensland Property Investor

Is now a good time to pay down your HECS debt?

I am aged 25 and earn $117,000 a year. My only liability is my HECS student debt of $29,400, on which the interest rate has just gone up to 3.9 per cent. I am not looking to buy a property for a few years yet and, thanks to the generosity of the “bank of mum and dad”, I do not have to save for an upfront deposit. Would it be wise to pay off the HECS debt now, as I am worried it will keep growing and may affect my borrowing ability when I do eventually apply for a mortgage? The other option would be to invest in the sharemarket.

You are relatively well-placed for somebody of your age, and I think getting rid of the debt as soon as possible would take an uncertainty out of your future, and put you on a sound financial foundation.

The HECS interest rate is indexed to inflation, so may rise to 5 per cent in the short-to-medium term.

If you do decide to invest in shares over repaying the HECS debt, you could suffer a loss if the sharemarket falls further, or be faced with capital gains tax if it goes up.

Getting an effective tax-free return of 3.9 per cent by repaying the HECS debt may be your best option.

I am aged 61 and my wife is 55. We have about $700,000 in superannuation between us, and are looking to sell the family home and downsize to another property on the Sunshine Coast, where we will both have jobs. The move would enable us to add about $200,000 to my wife’s super, which means we would have a new home worth $1.5 million and about $80,000 in cash. If I retire at, say, age 65 – and my wife keeps working – do I regard myself as an individual for a pension (as she is not retired) or are we a couple? We need about $80,000 a year to live on. Do we make up the shortfall between what we need and what my wife earns by making regular withdrawals from super?

For Centrelink age pension purposes, you would be regarded as a couple, with all your assets included, irrespective of their ownership.

The exception is superannuation, which is not counted until your wife reaches pensionable age. It would therefore be prudent to speak with a financial advisor as your retirement gets closer, and work out how much money should be held in your wife’s super and how much in your own.

You would be tested under both an asset test and an income test but, given that much of your financial assets would be held in your wife’s super, you would most likely fall under the income test rules. Therefore, her income may be the deciding factor.

I am a single 64-year-old female with limited super. I have an inheritance of $190,000 and a mortgage of $223,400. I am a nurse, but presently unemployed due to having a new hip and receive income support. Should I pay the whole amount of my inheritance into my mortgage, or put some in super? Selling and downsizing is not an option.

Given your age and the fact you are unemployed, I think depositing most of the money into your mortgage would be the best strategy.

Just make sure the amount is treated by the bank as “repayments in advance,” which would leave you the freedom to make withdrawals from the loan account in future, if necessary.

My wife and I are both aged 60 and are members of our self-managed super fund (SMSF). We both retired earlier this year. I have been asked to consult to a company – not my previous employer – on an “as required” basis. Due to the nature of the work, it is hard to predict how much income it would produce. My wife would be employed by me. Are we allowed to start an account-based super pension, even though our income is irregular, and we may stop work at any time?

You have reached your preservation age and have retired, which satisfies a condition of release, so you can access your super without restrictions.

There is nothing to prevent you returning to the workforce in any capacity, and you are free to draw your super by an income stream, or by lump sums.

Contributions cannot be made to a fund in “pension” mode. This would require the setting up of an “accumulation” fund inside your SMSF.

Keep in mind that any super made after you start working again is preserved until you stop work again, or reach age 65.

Given that you have a SMSF, seeking professional financial advice is essential.

  • Advice given in this article is general in nature and is not intended to influence readers’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making any financial decisions.

Article source:

from Queensland Property Investor

Tuesday 19 July 2022

Multiple Dwellings – Riverview Terrace, Indooroopilly

A development application has been lodged for multiple dwellings, located at 21 Riverview Terrace, Indooroopilly.

development Indooroopilly

Designed by Artisan Development Co., the proposal seeks twenty five (25) medium density residential units within a residential building that has a maximum building height of 7 storeys (22.40m high from natural ground level). Communal open seating, dining and landscaping have been provided within the rooftop level.

The planners at Viva Property Group, “the proposed building height of seven storeys will be generally consistent with nearby development and site characteristics. Specifically, it is considered that the building height is consistent with the surrounding neighbourhood and commensurate with the dimensions of the site”.

“The proposed development will respond to land constraints, mitigate any adverse impacts on environmental values and will address other specific characteristics, as identified by overlays affecting the site or in codes applicable to the development”. This is demonstrated through the proposal’s general compliance with all relevant assessment benchmarks”.

The Application Information and References
– Date Lodged: 6 June 2022
– Council Reference: A006030150
– Address: 21 Riverview Terrace, Indooroopilly
– Zone: Medium Density Residential
– Neighbourhood Plan: Indooroopilly Centre
– Application Report: Viva Property Group
– Design Drawings: Artisan Development Co.
– Landscape Drawing: Mark Baldock Landscape Architect
– Interactive Image: Google Aerial and Streetview

Article source:

from Queensland Property Investor

Brisbane Olympic Precinct Pushes Forward

Brisbane City Council is pushing ahead with the design of an Olympic sporting precinct on the site of a Harness Racing track in the city’s inner north. 

The Urban Developer broke the news of the proposed 12-court indoor arena on the site of the city’s primary harness racing track at Breakfast Creek last year, with an Olympic sporting precinct mooted across the flood-prone 29ha site. 

Deputy mayor Krista Adams launched the concept plan, which would go to public consultation. 

But Adams said it would be a dedicated greenfield and sporting precinct, with no plans for commercial or residential development on the significant inner-city site.

“This is the beginning of what we need to get done … OCOG (the Organising Committees of the Olympic Games) has the final say on Olympic venues but we need to start the conversation now,” Adams said.

“There is a great opportunity to seize this moment and get a legacy for Brisbane residents for the years to come. 

“We’ve got Brothers Rugby and Queensland Cricket on the site and we’ve been working with them to work through a design that will see us through decades to come for our sporting future.

“The Schrinner Council is very firm in their belief that this needs to be green space, it needs to be a sporting precinct, it needs to have facilities and sporting infrastructure. There’s been a lot of density around the RNA, around Hamilton Northshore and so we think it’s already a bit lacking in sporting facilities in those areas and this really gives a boost to a slightly tired Albion area.”

Brisbane Olympic precinct
▲ Plans for the sporting precinct include multi-use fields, a proposed baseball field and a public realm connecting the indoor arena, Brothers Rugby Club and Alan Border Field, which just received a $1-billion renovation.

The indoor sports centre for the 2032 Olympics and Paralympic Games will comprise 12 basketball courts to accommodate basketball, badminton, volleyball, goal ball and wheelchair rugby.

The Albion and Breakfast Creek areas were severely impacted during the recent Brisbane floods and Adams said the council was working with Queensland Urban Utilities on flood mitigation strategies for overland flow and water harvesting to irrigate the fields. 

The Urban Developer believes the state government and Racing Queensland are still scoping prospective harness racing venues as work begins on redesigning the precinct. 

Minister assisting the Premier on Olympics and Paralympics Sport and Engagement Stirling Hinchliffe was notably absent from the launch for the Breakfast Creek Sporting Precinct. 

“They’ve known for quite a while they’re moving off that site, that’s why we’ve included them in this concept plan,” Adams said. 

“This is a concept plan that Brisbane City Council is putting out for discussion. We’ve been talking with the state government and OCOG, so they know what our designs are. 

“This is not the final concept but it’s one that we think will have an excellent outcome.” 

The Racing Development Corporation bought the Albion Park racecourse for $9 million in 1982 for the redevelopment of the venue for harness racing.

Article source:

from Queensland Property Investor

Inside the Burleigh Heads beauty quietly sold to Lleyton and Bec Hewitt

One of 2021’s most searched-for houses quietly changed hands late last year. Now, the owners are confirmed as Lleyton and Bec Hewitt.

The tennis star and his actress wife settled on the architecturally-designed Burleigh Heads pad in late September 2021 for $4.305 million, according to Domain’s Pricefinder data. The pair were on-sold the home after it initially sold at the of May for $3.75 million.

With a Sunshine State relocation imminent, the Hewitts then sold their ultra-luxurious Toorak mansion for $15.2 million in November.

Lleyton and Bec Hewitt home
The architecturally-designed home was one of Australia’s most popular on Domain in 2021. (Domain)

While the Gold Coast residence isn’t as opulent as their palatial Toorak pad, it was built in 2021 to meticulous standards, offering four bedrooms, three bathrooms and a four -car garage in one of the hottest real estate enclaves in the country.

Sold fully furnished and styled by Kira & Kira, the Hewitt’s Palm Springs-inspired home brings the wow factor.

With an open floor plan, bespoke joinery, a light palette of timber enhanced by irrigated greenery, brass accents and natural feature stone walls, it’s the ultimate beachside oasis and perfect base to enjoy Queensland’s spoils.

Burleigh Heads beauty
The Palm Spings-inspired pad is located in the burgeoning Burleigh Heads area of the Gold Coast, and features natural stone, glass and timber throughout. (Domain)

Indoor-outdoor living is enhanced via use of cavity glass stacker doors and bi-folds, seamlessly connecting the living and dining areas to the outdoor entertaining, which is comprised of an outdoor kitchen, BBQ and beer fridge, sunken in-built fire pit beautifully framed by a glass-edged pool.

This level also as a swoon-worthy kitchen with Smeg dolce designer appliances and a Butler’s pantry, a study and a separate guest wing.

Upstairs are the remaining three ensuite bedrooms, all with walk-in robes, including the palatial primary suite with feature freestanding stone bath and triple shower with overhead skylights, inbuilt seating and custom joinery.

Lleyton and Bec Hewitt pad
The upstairs second lounge area with void overlooking the lower level, and cactus garden. (Domain)

Other design features include arches and curves, six-metre-high ceilings, American oak floors throughout, custom Australian brass tap ware, Italian Venetian plaster and terrazzo tiles and Santorini Clay stone feature walls.

The tennis star – former world number one, Wimbledon, US Open and Davis Cup champion – is soon to be inducted into the International Tennis Hall of Fame.

The ITHF statement said Hewitt will be the 34th Australian to become a Hall of Famer.

“Induction into the International Tennis Hall of Fame is tennis’ ultimate honour, representing the sum of a person’s accomplishments as being among the greatest and most impactful in sport’s history. Just 267 athletes and contributors from throughout tennis history have received this honour.”

Article source:

from Queensland Property Investor

Ipswich’s Nicholas Street Precinct wins big at construction awards

The Nicholas Street Precinct development has won one of the most prestigious state construction awards for 2022.

Hutchinson Builders won the best Tourism and Leisure Facilities over $10 million award at the Master Builders Queensland 2022 Brisbane Housing and Construction Awards.

Ipswich Central Redevelopment Committee Chairperson and Division 3 Councillor Marnie Doyle said the award was a significant win for council’s construction partners Hutchinson Builders and for the entire community.

“This is a wonderful recognition of council’s bold vision and strategy to transform this neglected part of the city into a vibrant and exciting place for the community to use and enjoy and to draw more jobs and investment to the CBD,” Cr Doyle said.

“We have had a successful partnership with Hutchinson Builders, which has taken our plans from drawing board to reality, and created the buildings and spaces which make Nicholas Street Precinct a great place to work, eat and play.”

“The award comes on the heels of the Queensland Australian Institute of Landscape Architects Awards where the precinct was announced winner of the 2022 Landscape Architecture Award for Landscape Planning,” Cr Doyle said.

“Businesses are starting to open their doors in the recently completed stage of the precinct with council committing $41.5 million in its 2022-2023 Budget to the continued redevelopment of the previously derelict mall and it is so exciting to see the heart of Ipswich coming back to life.”

The Nicholas Street Precinct includes Tulmur Place, the new council administration building, standalone Children’s Library, Ipswich Central Library, rebuilt Commonwealth Hotel, and up to 40 new restaurants, cafes, bars and retailers (at various stages of completion).

Nicholas Street Precinct

Division 3 Councillor Andrew Fechner said it is exciting to be recognised as Ipswich Central continues to build on the positive momentum that the business, council and the community are creating together.

“We were also recognised for innovation at the recent Local Government Managers Australia (LGMA) Queensland Excellence Awards,” Cr Fechner said.

“Ipswich Children’s Library was awarded excellence in innovation alongside key revitalisation projects – a community shaping Ipswich Central Partnership and the Façade Improvement Program.

“The Ipswich Central Revitalisation project incorporates the Façade Improvement Program where council partnered with private business and property owners to provide matched, dollar-for-dollar funding of up to $15,000 to help improve local streetscapes, enhance walkability, and stimulate wider investment from business and property owners,” Cr Fechner said.

Twenty-one new businesses have opened their doors in Ipswich Central over the past year as the revitalised city heart goes from strength to strength.

Article source:

from Queensland Property Investor

Developer Wins Approval for Surfers Paradise Tower

Sydney developer Weiya Holdings has been given the green light to build a 38-storey beachfront tower on what some are calling the Gold Coast’s hottest half-kilometre.

The Gold Coast City Council signed off last week on a development application for the luxury residential tower, to be known as Aalto, at Garfield Terrace in Surfers Paradise.

Developer Weiya Holdings plans 67 luxury apartments in total—a mix of one, two, three, four and five-bedrooms. Six of them will each take up an entire floor.

The 1500sq m lot currently contains a single-storey house plus a three-storey apartment block.

Patrick Pancur, sales and marketing for Weiya Holdings, said demolition of these two buildings had begun. A six-month pre-sales marketing campaign would begin immediately.

In a report prepared for the council seeking a material change of use lodged in December last year, the Saunders Havell Group said the tower would be 128.8m high and include 4.5 levels of parking for about 150 vehicles.

Pancur said two-bedroom apartments would be priced from $2.2 million and three-bedroom from $3 million. Apartments across an entire floor would be $8 million and up.

The building is by national design firm Conrad Gargett and will feature outdoor living spaces plus amenities including lobby, spa, gym, lounge, bar and pool.

Surfers Paradise Aalto
▲ It is the second beachfront Gold Coast development for Weiya Holdings.

Conrad Gargett director John Flynn said the landscape had been a key driver and influence behind the design of Aalto, maximising its corner location and prime beach frontage, while taking cues from the site’s history and the beach’s natural sand formations.

“The original landscape of the ocean, beach and dunes, continuing through to the waterways, has been broken over time by buildings, so by lifting the tower up off the ground we’ve been able to create greater transparency, which has been one of our key design moves,” Flynn said.

“We were also inspired by longshore drift which is the natural movement of drifting sand and water along the coastline, with the building’s edges and form responding to the ripples, deep recesses and cut-outs that occur in the sand as a result of this natural process.”

The development is at 75-79 Garfield Street, a street that, with adjacent Northcliffe Terrace, has set new benchmarks for absolute beachfront land with rates nudging $20,000 a square metre and beyond.

It’s the second beachfront development for Weiya Holdings, who have announced they’ve sold out their De-Luxe Burleigh Heads development.  That 28-apartment building—under construction and also by Conrad Gargett—sits on the site of the old Burleigh Theatre Arcade, which dated back to 1930.

Article source:

from Queensland Property Investor

Monday 18 July 2022

Arise Hotels & Apartments enters a new era with rebrand to CLLIX Apartments and Hotels

Leading Australian accommodation provider Arise Hotels & Apartments has announced it will today unveil an all-encompassing rebrand, signalling an exciting new chapter for the hospitality heavyweight which will now be known as CLLIX Apartments and Hotels.

A division of the Queensland-based Song Properties – spearheaded by Michael Song – CLLIX Apartments and Hotels’ significant rebrand undertaking is set to ‘reimagine hospitality’, comprising a modern name change as well as a new visual identity, assets and unique customer experiences.

Representing the group’s commitment to innovation, technology and exceptional customer service, the new company branding will encourage guests to ‘live their best life’ with the CLLIX of a button – a nod to the savvy, modern traveller.

A vibrant new website is now live, with key brand hallmarks extending from its apple-green logo, symbolic of growth and adaptability, through to a bold new type face, representing strength, endurance and stability, as well as a refreshed brand philosophy: “Creating Tomorrow’s Seamless Experiences”.

Harnessing revolutionary self-service technology, the accommodation provider will start rolling out seamless guest arrivals and departures, expedited with its new self service kiosks, currently located in select CLLIX properties, before being implemented across the entire network.

Travellers will enjoy the ability to skip the queue with clever key-dispensing systems that take the hassle out of checking in and checking out; locating reservations, pro cessing payments, creating room keys, recording service requests and providing important hotel information all within minutes and via the touch of a screen.

Making a reservation will also be made easier than ever, with a new 24/7 online concierge that connects guests to CLLIX’s dedicated team of customer service rep resentatives, available at any time to assist with booking enquiries. This service will also extend to in-house guests who would like to ask a question, seek local dining and entertainment recommendations, or discuss their reservation.

A quick scan of an in-room QR code will also provide guests with a comprehensive property compendium complete with all the need-to-know details of onsite services, guest facilities, and surrounding attractions and experiences.

CEO of Song Properties and CLLIX Apartments and Hotels, Michael Song, com mented: “The rebrand signifies an exciting evolution for our group as we continue to focus on expansion opportunities both here in Australia and key new markets such as North America, Asia and Europe,” he said.

“Our rebrand to CLLIX Apartments and Hotels is well-aligned with our company’s image of being a modern, young and dynamic player in the ApartHotel sector, deliv ering a memorable and seamless stay for our guests.”

“More than ever, travellers are seeking a convenient and stress-free experience which extends through to their accommodation, and we are confident we will deliver on that with our new website, 24/7 online concierge, and hassle-free self-service kiosks.”

“As a company, we are looking to bridge the gap between online travel market places like Airbnb and traditional hotels; consider CLLIX the half-way point where guests can enjoy the best of both worlds.”

A major player in the ApartHotel sector, CLLIX Apartments and Hotels currently comprises over 20 properties and 2,500 apartments across Australia, including sought-after city locations like Brisbane, Melbourne and Adelaide, and coveted coastal regions such as the Gold and Sunshine Coast.

Flagship properties within the group’s network include the Brisbane Skytower in Brisbane and Collins House in Melbourne, showcasing the sophisticated apartment accommodation the brand is renowned for in major metropolises.

Catering to discerning business travellers, weekenders, families and long-stays, CLLIX Apartments and Hotels provides beautifully-appointed, self-contained stu dios and apartments in one, two, three and, in some cases, four bedroom configu rations, complete with full kitchen and laundry facilities, separate living and sleeping areas, and space to spread out.

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