Medical centre property hits the market for first time

Up for sale for the first time since construction in 1993, 197 Weyba Road, Noosaville is going to auction.

The 663sqm site is being brought to market by Ray White Commercial Noosa and Sunshine Coast North agents David Brinkley and Rachel Cadamy.

Mr Brinkley said the property provided a unique opportunity for buyers, with its high traffic exposure and close proximity to Hasting Street, Noosa Junction, and the Noosaville retail and dining precinct.

“This charming location is a stone’s throw from Noosa River, and is a great opportunity for any potential investor or owner occupier,” Mr Brinkley said.

“The current tenant, Noosa General Practice, has occupied the site since 2008 and has extended the current lease term to 8 November, 2022, after which time vacant possession will be provided.

“The vendors own all lots in the complex and have chosen to run it as a non-functioning strata to minimise costs.”

Mr Brinkley said Noosaville had matured as a commercial investment location, with the best yet to come.

The property will be auctioned onsite on 7 October, at 11am, unless sold prior.

Article source: noosatoday.com.au

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Developers Plot Skinny Tower on House-Sized Block

Vaun Developments has filed plans for its latest apartment development, a 20-storey eight apartment tower in the heart of Chevron Island on the Gold Coast.

The eight two-floor apartments are spread across 16 levels, with parking, recreational amenity and a private rooftop pool for the penthouse in Aurum.

The Plus Architecture-designed skinny tower is planned for the 506sq m block at 45 Darrambal Street at Surfers Paradise, which Vaun Developments’ Luke Vaughan said would create something next level on the site. 

Vaughan said the property would comprise a double height lobby and two floors of luxury amenities, including a wet deck with pool, spa, steam room and ice baths, and a dry deck with a gymnasium, yoga studio and plans for a Himalayan salt wall. 

Vaughan is developing it alongside construction industry stalwart Geoff Pontefract, whose expertise was invaluable as they grappled with the skinny site. 

The eight double-floor apartments would appeal to downsizers and well-heeled professionals, according to Vaughan, who said the building could have an end value of about $50 million. 

“We were really excited by the north-eastern aspect and took advantage of the Manhattan-style views of Surfers Paradise,” Vaughan said.

▲ A skinny tower of eight two-floor apartments would nestle into the skyline on Chevron Island with a “classically curvaceous” design from Architecture Plus.

“We started off with full-floor apartments but it just seemed too average, we really want to dial it up. These are villa-sized true skyhomes.

“We’ve drawn from a lot of the features that are being offered in six-star resorts, and decided to incorporate it into our development, but the amenities are purely for the residents of the eight apartments.”

Vaughan said the Gold Coast’s luxury apartment market remained robust in the face of a simmering housing market.

The development application comes hot on the heels of another the group filed this year for futuristic-style beach houses further south at Palm Beach. 

The site neighbours Siera Group’s $75-million Tapestry development on Chevron Island. It has a 15m frontage and a depth of about 33m and setback controls on the site mean the tower will be a slender form. 

Planners say the Chevron Island area is ripe for renewal. 

“While the current predominant established character of Chevron Island is that of mostly older, one to two-storey dwellings, duplexes and multi-unit buildings, there is a clear emerging character of larger more intense development built forms,” planning documents said. 

“[This is] demonstrated through the above approvals which are supported by the unlimited building height and excellent proximity to key services and public transport.”

▲ Malaysian developer MRCB’s $300-million 51-storey tower on Vista Street at Surfers Paradise have been approved.

Meanwhile, down the road, MRCB has won approval for its $300-million 51-storey tower at 26 Vista Street. 

MRCB International chief executive Ravi Krishnan said the project would “enhance the city skyline” while boosting apartment supply that would cater to ongoing interstate migration to Queensland. 

“Recent council population data forecasts that by 2041, the Surfers Paradise population will have nearly doubled and it is estimated that, of that, close to 85,900 people will live in high-rise towers,” Krishnan said

“Our vision for this project is to create a beautiful slender tower that will bring coastal elegance to Gold Coast while providing a rare opportunity for purchasers to buy a home that prioritises lifestyle, design and location.”

The 51-storey slender form tower would comprise 280 apartments on the 3100sq m block that fronts the Northcliffe Light Rail Station. 

MRCB International will begin building in the third quarter of next year with the project scheduled for completion in 2026.

Article source: www.theurbandeveloper.com

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Council to advocate for expansion of Ipswich’s bus network

Expansion of Ipswich’s bus network has now become a regionally significant priority as part of council’s ongoing advocacy for improved infrastructure and services for the city.

Growth, Infrastructure and Waste Committee Chair Ipswich Mayor Teresa Harding said voting to make this project an advocacy priority meant council would double down on its efforts to secure State Government support for improved bus services.

“We know that 70 per cent of Ipswich’s population growth is taking place in the corridor between Ipswich and Springfield Central.

“The ultimate goal is the development of the Ipswich to Springfield Central Public Transport Corridor and, while this project is now progressing, its completion is still years away.

“Elevating Ipswich’s bus network as a regional priority means council is advocating on behalf of our growing communities to ensure they have access to reliable and efficient public transport sooner rather than later.

“Put simply, success through advocacy would be a significant and sustained increase of investment by the State Government in the Ipswich bus network,” Mayor Harding said.

Council has identified two initial priority service improvements – an expansion of the bus network within Redbank Plains (south of Redbank Plains Road) and a trunk bus connection between Ipswich Central and Springfield Central

Public transport services in Ipswich are administered by the TransLink Division of the Queensland Department of Transport and Main Roads.

“Council receives many requests to improve public transport services in Ipswich and in particular the bus services, even though these services are administered by TransLink,” Mayor Harding said.

“Council will now be focused on working collaboratively with State Government to deliver a regional solution to the expansion of our local bus network.”

Growth, Infrastructure and Waste Committee Deputy Chairperson Councillor Paul Tully said while council and TransLink are aligned strategically from a network planning perspective, funding has been the roadblock to progress.

“If future investment in the bus network from the State Government is not forthcoming, bus patronage in Ipswich may continue to decrease,” Cr Tully said.

“On the current trajectory whereby investment in the bus network has not kept up with residential growth, the public transport mode share within Ipswich will continue to decline, shifting further away from the 11 per cent mode share target identified in iGO, the City of Ipswich Transport Plan.

“The risk of not servicing both growth and established areas with an appropriate level of public transport is that these communities establish habits/patterns of car usage, which is difficult to break once established, leading to greater congestion on roads, pollution as well as various social-economic issues.”

Councillors unanimously adopted the recommendation at the Growth, Infrastructure and Waste Committee Meeting on 15 September and directed it to the next Advocacy Steering Group meeting for consideration of the appropriate advocacy effort.

Article source: www.ipswichfirst.com.au

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Brisbane, Adelaide best other Aussie capitals on global price growth ranking

While the era of strong price growth has ended for Australia as a whole, Brisbane and Adelaide have emerged as the last strongholds amid the market downturn sweeping across the country.

Knight Frank’s Global House Price Index — which tracks the movement of average house prices across 56 countries globally — showed that Australia’s housing market saw house prices fall by 0.8 per cent.  

The figures represent the country’s third-largest decline in prices on a three-month basis and put the Land Down Under behind its peers as one of the seven countries to record a drop in property values over the period. 

The report noted that while prices in the Asia-Pacific region are at the forefront of the anticipated downturn in the world’s property markets, global markets are generally showing signs of resilience. 

Overall, the global index has risen by 10 per cent at an annual rate, with 51 of the 56 tracked countries continuing to register an increase in house prices.

Knight Frank noted that the strong annual performance was delivered despite expectations of a notable slowdown in the second quarter due to recession fears, energy prices, rate rises and geopolitical concerns. 

However, when taking the surging inflation into account, global house prices in real terms are averaging just 1.6 per cent growth in the year to the second quarter, down from 6.2 per cent a year earlier. 

According to Knight Frank’s head of residential Erin van Tuil, Australia’s property market has considerably slowed down due to weakening buyer sentiment, with consumers shifting from a fear of missing out to a fear of overpaying due to new responsible lending laws and recent rate rises.

The expert predicts that sentiment will continue to be sluggish as the Reserve Bank of Australia continues to hike the country’s official cash rate, which currently stands at 2.35 per cent following a rapid rate rise cycle that started in May. 

“With further upward adjustments to the official cash rate and higher costs of living in the coming months, we can expect sentiment to be dampened across the Australian residential market with anticipated subdued or downward pressure on property prices over the next 18 months,” Ms van Tuil stated. 

Despite Knight Frank expecting residential dwelling values in Australia to slide by as much as 3 per cent by the end of 2023, Ms Van Tuil said the price movement would be merely a return to normal rather than a fresh market downswing. 

“Given the significant growth we have experienced over the past two years, these reductions are coming off a very high base and we’re likely now seeing a normalising of house price growth,” she explained. 

She also pencilled in when a rebound will unfold for the country’s residential market. “We anticipate trends will move back towards positive territory in 2024 given the undersupply of new properties being built across the country,” she said. 

While the outlook for the national dwelling values looks sombre, Knight Frank’s Global Residential Cities Index for Q2 2022 showed two Australian cities emerged as star performers.

The report — which monitors the average house prices across the 150 cities within 56 countries and territories — showed that Brisbane and Adelaide were the only Australian cities to secure a spot in the top 20 list of global cities that have recorded the strongest property price growth in residential prices over a 12-month period. 

Adelaide bagged the 10th spot, as the South Australian capital recorded an annual gain of 25.6 per cent in house prices. 

Meanwhile, Brisbane clinched the 20th spot, as the Queensland capital recorded a 20.4 per cent growth in house prices during the same period. 

Ms van Tuil attributed Brisbane and Adelaide outperforming their capital city peers to demographic trends. 

“Australia’s best-performing cities for annual price growth, Brisbane and Adelaide, also saw elevated population growth in 2021 against the Australian average. This most impacted the rental space, given many people moving to a new area tend to rent before making a purchase.” 

Hobart was not far behind the Sunshine State capital, with the Tasmanian capital securing 21st place with 20.2 per cent annual gains. 

Canberra clocked in at 67th place, with the ACT capital’s median house prices rising 9.9 per cent during the period. Darwin followed at 87th place with a 6.6 per cent gain, while Perth sat at the 89th spot with a 6.6 per cent year-on-year increase. 

Notably, smaller cities stole a march over their capital city peers, with Sydney and Melbourne ranking 104 and 109, respectively. The two biggest capital cities were significantly outperformed, posting only 5.1 per cent and 4.3 per cent, respectively. 

Ms Van Tuil credited the smaller cities and regional areas’ stable performance to several factors. 

“The main factors continuing to drive smaller cities and regional residential markets include the relocation of digital nomads to more affordable locations, investors returning to the market seeking a higher rental yield than they could achieve in the larger capital cities and holiday homes purchased to incorporate retirement plans in the coming years,” she stated. 

Article source: www.smartpropertyinvestment.com.au

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Robina Grand apartments achieve $50 million in sales as construction commences

Queensland-based, Greyburn has started construction on their Robina Grand Residences. 

The building company with over 35 years’ experience achieved strong sales in the early stages of planning, with the development notching over the 90 per cent sold mark, accruing $45 million in sales to date. 

Sitting just a stone’s throw from one of the Gold Coast’s premier shopping outlets, Robina Town Centre, Robina Grand Residences will comprise 69 apartments and four townhouses across its eight levels, offering a mix of two and three-bedroom apartments, along with the four-bedder townhouses. 

Strong sales for the project have been attributed to the project’s cornering of the middle market, offering buyers luxurious living spaces for affordable prices.

Approaching a near sell out, Greyburn’s Co-Director, Aaron Hook, said the company was well positioned to deliver Robina Grand Residences, having delivered a variety of projects in the past, with construction costs of between $2 million and $30 million.

“Given that demand on the southern Gold Coast is higher than ever, we are excited to be commencing construction to bring this collection of ultra-desirable homes to life,” he said.

“Greyburn are well placed to navigate any issues facing the industry that may arise during our construction period, after we recently stepped in to complete construction on Minnippi Quarter following the collapse of Condev,” Hook added. 

Taking its place at 1 Waterfront Place, Robina Grand Residences are also set to feature a suite of resort-style facilities, including a swimming pool and outdoor area with dining space and seating, set amongst sculptured landscaped gardens, with views to the Gold Coast skyline, hinterlands and iconic coastline.

The development will also include a fully-equipped gym and exercise health centre, featuring a pilates and yoga room, along with separate lounge areas, and retreat and games rooms. 

Having built up an extensive portfolio in south-east Queensland, Robina Grand Residences joins a long list of successful residential projects under Greyburns belt, including the luxury apartments ORO in Biggera Waters, and Palladium in Hope Island. 

Completion for Robina Grand residences is scheduled for late September 2023.

Article source: www.urban.com.au

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Northwest Inks Queensland Hospital Deal

Expansion plans for Peninsula Private Hospital have been revealed after a sale-leaseback deal was inked for the 70-bed facility north of Brisbane.

Sitting on a 14,600sq m corner site at Kippa-Ring, the Healthscope-operated asset has been swooped on by Canadian investment powerhouse NorthWest Healthcare Properties.

Healthscope will continue to operate the facility, which is an acute surgical and rehabilitation hospital—with two theatres and one procedure room—in a high-growth corridor. 

Toronto-listed NorthWest’s acquisition will be through a wholesale joint venture established by its Australia arm with Singaporean sovereign wealth fund GIC.

As part of the deal, the asset-hungry NorthWest is planning an internal refurbishment and significant further development—including additional theatres and procedure rooms—on surplus land surrounding the existing facility, bringing its total investment to about $110 million.

“This significant development will ensure the hospital can meet the growing demand for medical services in the area, and that it is utilised to its maximum capacity,” a statement said.

Construction is expected to start early next year with a view to the new facilities being fully operational by late 2024.

“In this area of Brisbane, there is strong demand for Peninsula Private’s existing services that exceeds the capacity of its current infrastructure, and we look forward to expanding the surgical and medical service offering to the local community,” NorthWest executive director Richard Roos said.

“The opportunity to acquire the Peninsula Private Hospital facility and the site it sits on was highly appealing for NorthWest, given the quality of the hospital and its catchment in conjunction with the compelling opportunities to further upgrade the facility and expand its existing services through onsite development, as well as the opportunity to extend our long-held partnership with Healthscope.”

With the backing of GIC, NorthWest acquired half of Healthscope’s $2.5-billion divestment in 2019 of 22 hospital properties, which also were leased back to the operator.

In July, NorthWest filed plans for a medical-focused hub including a new hospital at Woolloongabba on Brisbane’s southside.

The proposal comprises an eight-storey building on an east-facing 3036sq m site at 7-17 Wolseley Street near the Princess Alexandra Hospital.

To be known as the Buranda Health Hub, it would provide 12,400sq m for a hospital and health care services—including suites for medical professionals—as well as a pharmacy and cafe.

Last year, the group made a failed $2.8-billion takeover bid for Australian Unity’s Healthcare Property Trust.

Article source: www.theurbandeveloper.com

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Australians still backing real estate despite interest rate rises

Since the Reserve Bank of Australia (RBA) began tightening monetary policy five months ago, the market has responded predictably.

There have been minor price declines in affordable price rangers with larger falls in the Melbourne and Sydney prestige markets.

SQM Research data reflects a slowdown in asking prices nationally, however, a steep decline across the board is yet to be witnessed.

National real estate brand First National has noted that despite this, Australians are strongly backing real estate.

“Depending on where you live in Australia, home values increased perhaps as much as 36.5 per cent in the two years to the end of February 2022, yet we’ve observed declines of only around 3.5 per cent over the past four months,” said First National Real Estate Chief Executive, Ray Ellis.

‘While it’s true that the upper ranges prices have seen sharper adjustments, average home prices are still substantially higher than they were 12 months ago everywhere in Australia except Melbourne and Sydney, where there have been relatively mild adjustments of -2.1 per cent and -2.5 per cent respectively. “

Mr Ellis said that a reason why house prices have shown such resilience was due to the upward trend in larger financial deposits since 2005. Increased savings occurred during the GFC and COVID pandemic, while the period of lower fuel and electricity prices in 2015 and 2016 also assisted in this regard.

The ratio of housing interest payments to income has also fallen to its lowest level since 1999. Household debt has trended lower as a proportion of housing values, according to RBA data.

“For just under 40 per cent of households, Australians with a mortgage, the interest burden fell to its lowest level in 42 years in the March quarter,” says Mr Ellis.

“These households will economise while discretionary items like fuel, electricity and food continue to rise but the 30 per cent of households without a mortgage will benefit from higher interest rates, and be able to spend more. With savings at record highs, these households actually prefer higher interest rates.’

‘The period of rising interest rates and inflation ahead will certainly present challenges for many.

“However, Aussies have not turned their backs on property. In fact, we’re already seeing signs that first home buyers are stepping up their activity and resurgent demand is combining with low stock levels to drive prices higher in many locations across Australia.”

Article source: thepropertytribune.com.au

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5 regions to get a boost from renewable energy boom

Australia is on the verge of a renewable energy boom and an expert has named five regions set to reap benefits from the infrastructure pipeline that comes with it. 

InvestorKit’s founder and head of research, Arjun Paliwal, stated that Australia’s renewable industry is growing faster than ever, driven by the country’s commitment to the net zero target by 2050. 

While he described the end goal as “ambitious”, the expert said that tangible progress has been made to hit the target in the last few years.

“Renewable energy is contributing more and more of the country’s electricity. In 2021, 32.5 per cent of Australia’s electricity came from clean energy sources, according to the Clean Energy Australia Report 2022 — up by almost 5 per cent compared to the previous year,” Mr Paliwal stated. 

Additionally, he pointed out that all three levels of government have committed to short- and long-term carbon emissions reduction targets, which will see greater investment into renewable energy. 

He explained that this, in turn, will usher in the renewable energy boom, and the surrounding infrastructure pipeline will lead to a boost to local regional economies and property markets and ultimately lead to property prices rising and long-term capital growth for investors in those areas.

“Each renewable energy project creates hundreds, and even thousands, of jobs, particularly in its construction phase.

“This will see increased demand for housing in regional areas, a revitalisation of regional surrounding towns as new ‘locals’ bring money to hospitality and retail businesses, and an overall strengthening of its property market,” Mr Paliwal stated.  

He noted that the increase in projects, as well as renewable energy zones (or areas determined to have the greatest potential for renewable energy, such as wind, solar, rain, tides, waves and geothermal heat) across regional Australia will also bring benefits to communities through new opportunities created for local economies.

InvestorKit identified five areas set to benefit from the green energy boom by analysing major renewable energy projects in various regions across Australia, along with regional economic and property market performance. 

Upon crunching the numbers, the regions set to reap price growth and capital gains from renewable energy infrastructures include Rockhampton, Toowoomba, Tamworth-Armidale, Dubbo, and Latrobe Valley. 

Mr Paliwal said property market performance in these key regional areas will experience a boost, as people migrate for jobs on renewable energy projects and demand for rental properties increase — making them strong areas for investment. 

Here is a closer look at the top five regions are predicted to get a power-up from Australia’s renewable energy boom:

 1. Toowoomba, Queensland 

With the city located in the heart of a Southern Queensland Renewable Energy Zone, Toowoomba is surrounded by $30 billion of in-progress and potential renewable energy projects, particularly in Western Downs.

According to InvestorKit, the top three projects in the area are: the MacIntyre Wind Farm Precinct valued at $1.96 billion, which is currently in construction and is estimated to create more than 650 jobs; the approved Bulli Creek Solar Farm valued at $1 billion and is set to generate around 300 jobs; and the proposed $980 million Big T Pumped Hydro Storage Project. 

Thousands of new jobs are also estimated to be generated along with 72 registered interest projects.

Mr Paliwal said that the region remains a bargain buy for investors, as the median house prices in the city remains affordable at $490,000 and has been recording steady growth in the last two years. 

In an indication that the region’s rental market is tightening, InvestorKit revealed that the number of rental listings has been declining — resulting in an extremely low vacancy rate and strong rise in rental prices in the last year. The low vacancy rate is expected to bolster rents in the area. 

2. Rockhampton, Queensland

Rockhampton is one of the major cities in the Central Queensland Renewable Energy Zone. There are a total of 67 registered interest projects in its vicinity, representing more than $39 billion in renewable energy investment and thousands of construction jobs. 

Mr Paliwal pointed out that the benefits that come with these projects go beyond the construction phase.  

“While construction jobs only create short-term benefits, renewable energy projects can boost the economy in the long term by strengthening sectors such as energy-intensive mineral processing, low emission manufacturing, agricultural equipment manufacturing and more,” the expert explained.

The top three projects in the region include the proposed $6.7 billion Central Queensland Power Project, which is estimated to create 4,500 construction and 550 operation jobs; the $1.61 billion H2-Hub Gladstone, which is forecasted to create around  700 new jobs; and the Clarke Creek Integrated Wind project, which is currently under construction.

Aside from being near these projects, the region has also delivered steady growth over the last two years, with the average price of a house in the area at $375,000. 

Additionally, Rockhampton’s rental market is extremely tight and has observed consecutive rises in rental prices over the past two years.

3. Tamworth and Armidale, NSW 

Located within the New England Renewable Energy Zone, Tamworth and Armidale were named by InvestorKit as the most viable sites for pumped-hydro development and currently have high-quality solar and wind power resources.

The region is expected to deliver up to $10.07 billion in private sector investment and is expected to provide over 830 operational jobs and 1,250 construction jobs. 

Among the top projects in the area is the proposed $1.25 billion Oven Mountain Pumped Hydro Energy Storage Project which is expected to create more than 600 construction and 30 operation jobs, followed by the $900 million Thunderbolt Energy Hub, delivering a similar number of new jobs.

Mr Paliwal noted that the unemployment rate in Tamworth and Armidale have been hovering at healthy levels of between 3.8 to 5.7 per cent over the past 12 months and the number of job ads have been increasing since 2020.

As construction on renewable energy projects kick off, the expert predicts the local job market and economy will go from “strength to strength”.

 4. Dubbo, NSW

Located in the centre of NSW’s Central-West Orana Renewable Energy Zone — the first declared zone in the country — Dubbo’s renewable energy investment is currently valued at $5 billion. 

In addition to having enormous potential for solar and wind farm developments, Dubbo’s proximity to Sydney and the business and investment opportunities it offers makes it an attractive area for buyers to invest in, according to InvestorKit. 

At the peak of construction activity in the area, Dubbo is forecasted to provide around 4,000 employment opportunities. 

Mr Paliwal highlighted that the region’s dwelling values has experienced growth since late 2021. Dubbo’s median house price currently sits at $420,000 and sale days on market have continued to decline for over a year — indicating Dubbo has high market pressure. 

Meanwhile, rental vacancy rates were described to be at “extremely low levels”, which have led to a strong rise in prices over the past 15 months. Mr Paliwal expects rents in the area to continue rising.

5. Latrobe Valley, Victoria 

With Latrobe Valley slated to become one of the six renewable energy zones in Victoria, InvestorKit said that the region would benefit from the renewable energy boom. 

While the major hub located in Gippsland has been negatively impacted by the shutdown of traditional power stations in the region, Mr Paliwal explained that the area’s existing power plant sites and transmission network — combined with an exceptional wind resource along the coastline — makes Latrobe Valley an ideal area to be transformed into a renewable energy hub.

Currently, Latrobe Valley has two proposed billion-dollar projects set to create thousands of new jobs, including the $8 billion Star of the South Offshore Wind Farm which is expected to generate 6,000 jobs in total, and the Gippsland Renewable Energy Park.

Over the past two years, Latrobe Valley’s housing market has been growing steadily, with its median house price currently at around $393,000. 

Interestingly, its rental listings are higher than the same time last year, but it remains at extremely low vacancy rates. InvestorKit noted that the high rental market pressure has led to rental prices in LaTrobe Valley surging consecutively over the past two years. 

Article source: www.smartpropertyinvestment.com.au

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End of an era for owners as ‘world class accommodation’ in Montville hits market

A luxury lakeside retreat described by its own guests as “world class accommodation” is set to hit the market for about a cool $20million.

Sitting on 45 acres overlooking Lake Baroon, Secrets on the Lake at Montville boasts 11 bespoke treehouses with exquisite hand-carved wood-work detailing, perched among the Blackall Range rainforest.

The property also comes with a restaurant, an established wedding venue, an art gallery and plenty of room to develop more private residences or accommodation.

Each self-contained cabin features timber carving by local woodworker Jack Wilms, sunken spas, local artist’s work, hanging fireplaces and private balconies with breathtaking views of the Sunshine Coast hinterland.

The Johnstons opted for treehouses with connecting boardwalks when designing the retreat.

Designing and building the retreat “from scratch” into what is today was definitely a labour of love for owners Aldy and George Johnston over the last 25 years.

The Johnstons are selling their cherished creation to do a bit more travelling, have a bit of a relax after so many years of hard work and to eventually retire.

“It’s a bit hard to let go, but everyone is telling us that, once you have, it’s not so hard then,” Mrs Johnston said.

“We have worked nonstop since we bought that land to create Secrets on the Lake – we worked daily – because managing it is quite a big task.

Inside Secrets on the Lake at Montville.

“But being in our late 70s, we are now at an age where we probably should be having a bit more fun in our lives.”

The long-time locals bought the land in 1984 as a result of the land resumptions that came from building Baroon Pocket Dam, and embarked on their dream to build an eco-resort.

“Our property was under the lake and was resumed so we bought the last section left from Steve Wises property, he was a black smith and we were neighbours,” Mrs Johnston said.

“It was a total mess when we started.”

Owners Aldy and George Johnston have been long time local of the area.

The Johntons worked hard at creating the existing gardens and designing and building the treehouses themselves.

“We made them how we liked, I think they are timeless,” she said.

“While they are an older style, they don’t look they their age because we continually maintain them and are very careful to keep them in pristine condition.”

When they set out, Mrs Johnston confessed they had a budget, but with each build she soon realised that budget would be going out the window.

The treehouse cabins boast breathtaking views of Lake Baroon.

“George wants everything to be perfect and different and interesting,” she said.

“I think everything we do is an achievement.

“We began with seven cabins and now we have 11 … and every time we build something new, we made it even better. Jack Wilms has done beautiful wood work in the Cabins.”

It will be the end of an era for the couple when they find the right buyer but Mrs Johnston said money wasn’t the issue.

“We will probably just make a return after selling because there is an awful lot invested in this place,” she said.

“But it’s not all about money.

“The actual property is worth a great deal of money, even the land it self. The issue is finding the right person for this place … everything will be taken into consideration.”

The couple’s plan is to build their own little home at the edge of the lake, and have a block that will have a prime view of the lake.

“We told our repeat customers that’s where we will be,” she said.

“Some of them have been coming for 25 years, others not quite that long but they still come each year.

“That’s been one of the joys of Secrets – we make friends with our customers and they come back and they think it’s their place. It’s location is nearly one of the most beautiful places you can have a holiday, we just love it.”

At the top of the property are waterfalls and rockpools.

Mrs Johnston said the retreat was really still a secret to some, even 25 years on.

“Anyone who wants to have a look is invited,” she said.

“We have a beautiful restaurant, they can come and just enjoy the place.”

LJ Hooker Property Centre’s Karen Renouf is running an expressions of interest campaign for interested buyers until the end of October.

Mrs Johnston said the realtor has already had a number of enquires.

Article source: www.sunshinecoastnews.com.au

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Spotlight Hits Gold Coast Health and Knowledge Precinct

Property investment in the health and sciences sector is booming, with space at the Gold Coast Health and Knowledge Precinct (GCHKP) experiencing significant demand to cater to the specialised needs of the industry.

The Queensland government’s 9.5ha Lumina development is front and centre as the last available development space in a precinct focused on healthcare innovation, new knowledge and next generation technologies. 

Investment opportunities within this sector are further enhanced when these properties are located within a community of expertise and infrastructure—as is the case at the GCHKP, Asia-Pacific’s emerging health and innovation hub.

Lumina is within the heart of the GCHKP and is dedicated to diversifying the Gold Coast economy and creating knowledge jobs of the future.

GCHKP is already a hotspot for AI, biotechnology, and drug and vaccine development  

The GCHKP location offers a unique opportunity for its occupants to create collaborations between the hospital and healthcare community, researchers, and industry partners.

It is fast becoming a prime location for biotechnology development, clinical trials, and entrepreneurial HealthTech start-ups. 

Hotspot areas of investment within the GCHKP include Artificial Intelligence (AI), machine learning and robotics, biotechnology (drug and vaccine development), medical imaging, wearable technologies and diagnostics, health software, and integrated healthcare and medical technology.

There is a pipeline of drug, vaccine, diagnostic and other technologies available for partnering across the precinct’s world-class research institutes including Griffith University and the Institute for Glycomics.

Several technology applications are already partnered with, including into human clinical trials.

Most recently, in August this year, the ACRF International Centre for Cancer Glycomics officially opened a state-of-the-art facility for cancer research—the first of its kind in Australia.

Global leader in healthcare technology, Philips, partners in a new GCHKP collaboration

International life sciences and technology leaders are already seeing the opportunity at Lumina.

One of the world leaders in health technology, Philips, announced in August their partnership in establishing a cutting-edge research and medical training centre within Lumina.

Philips’ latest image-guided therapy technology will support training specialist physicians from across the Asia-Pacific and pioneer new precision approaches in a wide range of clinical areas.  

Led by interventional neuroradiologists Dr Hal Rice and Dr Laetitia de Villiers, from the Gold Coast University Hospital, the facility will showcase Philips’ interventional solutions and trial new technologies such as artificial intelligence (AI), robotics, and novel 3D printed anatomical models.

The next wave of development and leasing opportunities is growing in key industries

The boom in investment witnessed in the healthcare and life sciences sector has seen increased demand for a vast range of existing and upcoming leasing opportunities within the GCHKP. Hotspot areas of leasing opportunities are being seen in the following high-growth areas:

Children’s Care and Specialised Services

Annual sales volume within childcare properties has been booming over the past few years and property investment trend reports from Real Capital Analytics (RCA) show consecutive ‘record growth years’ since 2018.

It is estimated that there are more than 80,000 children (0-9 years old) currently living on the Gold Coast, with 34 per cent forecasted growth by 2041—but over 60 per cent of that is expected to occur within the northern portion of the Gold Coast.

Not only does this open an excellent opportunity for growth in childcare in this northern region as the GCHKP is the main centre for healthcare, but there will also be a significant opportunity for organisations providing services for children’s health and care needs. 

Soon to open is Proxima, a development focussed on those services and care for children. It will offer a hybrid of childcare and paediatric health services and includes available space for medical, allied health, development support, education, and paediatric research organisations. 

Leasing opportunities are being committed now for childcare organisations as well as organisations that support paediatric health care, education, and research.

Specialised Research and Development (R&D), and Life Sciences

While there is strong demand for life sciences properties, the most robust demand is for more specialised facilities such as research and development and laboratory spaces, according to the property research firm, JLL.

However, competition for those spaces is fierce—with international interest and significant challenges in finding the required spaces.

Life sciences organisations, researchers, and entrepreneurs looking to conduct specialised research and development are already taking up the world-class options within Lumina, including scientific laboratories at Griffith University, and custom-built technical and laboratory spaces within the Queensland Government’s Cohort Innovation Space.

Since Cohort opened in 2019, available space for tenants wanting to join the Cohort community, home to health, medical and technology businesses, innovative thinkers, startups, SMEs, and researchers has been at a premium.

A recent expansion has made available an additional eight private offices for three to 12 people.

Medical Office Spaces

Medical office space is also a strong opportunity, with growth in investment in medical offices outpacing growth in office and mixed retail sectors.

With higher yields, longer-term tenants, and perception as a ‘defensive’ asset for portfolios, development demand is outstripping supply around Australia.

For potential tenants considering the lease of medical spaces, ideal positioning is within communities with strong population growth, locations that are near relevant institutions (such as public and private hospitals) that are easily accessible by the community.

Lumina is the last opportunity to secure prime development space or to find commercial medical office space for lease, within the GCHKP—containing the Gold Coast’s two major hospitals.

Aged Care

The Australian government predicts that 76,000 new residential aged-care facilities will be required by 2023-24 due to high demand and unmet need for aged care services. With an ageing population, along with significant government investment committed following the Royal Commission into Aged Care, this is an area of secured growth for developers, investors, and services.

Beyond new aged care facilities, there are opportunities for organisations that provide support services, training, and innovation for the aged care sector—such as allied health and ancillary service providers, hospitality services, and technology-enabled innovators—and for those leasing space or investing in new developments to cater for them.

Enquire today about securing space at Lumina

All enquiries regarding purchasing land opportunities and leasing opportunities in current and upcoming developments can be directed via the Enquiry Form on the Lumina website.

Article source: www.theurbandeveloper.com

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Say hello to Brisbane’s new green heart: Victoria Park project masterplan revealed

Water play areas, a treehouse lookout and pedestrian and cycle bridges will be major features of the Victoria Park redevelopment, which will transform the one-time inner city golf course into a 64-hectare parkland.

Brisbane City Council’s draft master plan for Victoria Park also includes dramatically increasing tree canopy cover from 10 per cent to 60 per cent and new active travel commuter connections to the Brisbane CBD.

Lord Mayor Adrian Schrinner said the council aimed to make Victoria Park a place that people from all over Brisbane as well as tourists saw as a “must-do experience”.

An aerial view of what the planned Victoria Park redevelopment should look like when complete. (Image: BCC)

“It is extremely rare for a city the size of Brisbane to have an opportunity to transform a large slice of inner urban greenspace like this,” he said.

“This is Brisbane’s biggest new park in more than 50 years, and we want it to be a place for people to come together and create memories.“

However, the plan is yet to be costed, with the council allocating just $13.8 million for Victoria Park this financial year at a time when it faces a huge clean up and reconstruction bill from the February floods.

The master plan includes reinstating water holes and wetlands, community sports facilities and an edible garden.

Victoria Park, which now has a dual name, Barrambin, has had many uses since it was gazetted as a recreation reserve in 1985, including being the site of Brisbane’s first council rubbish dump and as a home for hundreds of American soldiers during World War II.

The draft master plan will also take into account the park’s role as a venue for the equestrian cross country course and BMX freestyle events for the Brisbane 2032 Olympic Games.

An artist’s impression of the view from the planned signature treehouse at Victoria Park. (Image: BCC)

Work on transforming the park is well under way, with visitors now able to enter it directly from the Herston busway.

The council is also installing new park benches, picnic tables, barbecues and water bubblers.

Article source: inqld.com.au

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Land shortages give knockdown rebuilds a boost

A new report has found that surging lot prices are having an unexpected flow-on effect.  

The insight, from a joint HIA-CoreLogic report, found that median lot prices increased by 19.7 per cent in the March quarter of 2022, this is the biggest annual growth rate since 2004.

According to the analysis, this price growth, combined with constrained supply, means there won’t be enough land in the greenfield zones to build homes after mid-2023.

Senior economist at the HIA, Nick Ward, stated, “An unusually sharp rise in the price of residential land indicates the supply of land is not keeping up with new demand that has emerged during the pandemic.”

To coincide with this report, ABS recently released more information about demolitions, showing that about 25 per cent of the market for builders of houses and townhouses in NSW is made up of minor redevelopments and knockdown rebuilds.

Mr Ward added that this market segment appears to be expanding swiftly, offering new potential for the business, which is encouraging.

According to CoreLogic economist Kaytlin Ezzy, “The scarcity of available residential land continues to be a driving factor across Australian land markets, with land prices surging at a time when the number of lots sold is declining.”

Ms Ezzy continued, “While increasing interest rates, rising construction costs and increased uncertainty, particularly across the building industry, have likely smothered some land demand, the surge in land prices suggests that those that want to build are finding it difficult to secure lots.”

“With land often taking more than a decade to move through the development pipeline, it’s unlikely we’ll see any material change in land supply for some time,” she concluded.

Article source: www.smartpropertyinvestment.com.au

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Auction action: properties snapped up at mega auction despite nation-wide trend

A massive $33 million worth of properties changed hands at the Sunshine Coast’s biggest auction event of the year, flying in the face of a nation-wide slump in property values.

Twenty-four properties were sold, including a $5m penthouse at Cotton Tree, at the annual Ray White Coastal Living Network Auction at Mercedes Benz in Maroochydore.

There were 66 properties on offer and more than 160 registered bidders.

Event auctioneer and Ray White Mooloolaba director/sales and marketing James Goldworthy said there was “good competition”, despite recent reports of a slump in property values on the Sunshine Coast and around Australia.

“There were just as many people in attendance and just as much competition for properties as last year,” he said.

“It was impressive. The energy in the room was electric.”

The average property sale was about $1.37m and 14 properties were sold for between $1m and $2.5m.

“From the bottom end to the top end, there was enough data to support the view that we’re still in pretty good stead,” Mr Goldsworthy said of the real estate climate.

The main attraction was this penthouse at Maroochydore.

The auction’s flagship property, a penthouse at award-winning Rise Maroochydore at Cotton Tree, attracted four bidders. No.102/67 Sixth Avenue was ultimately sold for $5m.

“It’s pretty spectacular,” Mr Goldsworthy said. “It was encouraging to see such strong interest on such high-calibre and high-priced real estate.

“It’s one the best units in one of the region’s premier complexes.”

The apartment has plenty of open space and an amazing view.

The penthouse was dubbed “the most desirable beachfront home in Maroochydore” in the sale pitch.

It boasts two levels, four bedrooms, three bathrooms and three car spaces, with stunning views up and down the coastline and it’s walking distance to the beach and the Maroochydore CBD.

Fellow event auctioneer and Ray White Maroochydore director Dan Sowden said the penthouse sale was remarkable.

“It’s probably the most-expensive apartment sold at auction in the Maroochydore region for some time,” he said.

The balcony with the stunning view.

He said the auction event bucked the perception of slumping property prices.

“There is a fair bit of negativity at the moment around (increasing) interest rates in the media, but it really didn’t play out at the event,” he said.

“We averaged 2.5 bidders per auction and the bidding was strong across the board.

“To have a clearance rate of 41 per cent on one day with such volume of stock on the Sunshine Coast is extraordinary.”

This house, dubbed the ‘Royal Pine Manor’ was sold for much more than it was expected to.

A grand house in Buderim was among the other properties to be sold.

There were six bidders for No.13 Royal Pine Drive, which was ultimately sold for $1.5m to a young family who had relocated to the region and had been looking for nine months for a place to call their own.

“It was sold for a much higher price than the owner expected,” Mr Goldsworthy said.

The 1122sqm property with six bedrooms and three bathrooms has plenty of charm and glamour, as well as high ceilings and feature windows.

The house has high ceilings, feature windows and large living areas.

Mr Goldsworthy said the sale price exceeded expectations because of the property’s size and location.

“It’s a bigger block, a bigger home and a good residential area,” he said.

“So, it ticked a lot of boxes for families.”

Mr Goldsworthy said many of the properties that did not sell at the auction event (held annually since 2015) were expected to be sold within days.

“You will see that clearance rate rise to more than 60 per cent during the next seven to days, I’m sure of it,” he said.

Auction results

Selection from the Ray White Ray White Coastal Living Network Auction

1102/67 Sixth Avenue, Maroochydore.

• Sold under the hammer for $5m.
• 4 Bed, 3 Bath, 3 Car.
• Ray White, Reuben Park.

06 Nyes Crescent, Buderim 

• Passed in, contact agent.
• 4 Bed, 3 Bath, 2 Car, Pool.
• Ray White, Jake Loiero.

1/238 Wises Road, Buderim 

• Sold under the hammer for $560,000
• 3 Bed, 2 Bath, 1 Car.
• Ray White, Jake Loiero.

11 Gumtree Drive, Buderim 

• Passed in, contact agent.
• 5 Bed, 3 Bath, 2 Car, Pool.
• Ray White, Jake Loiero.

18 Water Street, Buderim

• Sold under the hammer for $622,000.
• 3 Bed, 2 Bath, 1 Car.
• Ray White, Jake Loiero.

36-40 Apps Road, Maroochy River

• Sold under the hammer for $1.71m
• 4 Bed, 2 Bath, 5 Car.
• Ray White, Pam Thomas/Megan Murray.

191 Panorama Drive, Rosemount

• Passed in, contact agent.
• 4 Bed, 1 Bath, 1 Car, Pool.
• Ray White, Pam Thomas/Megan Murray.

448/180 Alexandra Parade, Alexandra Headland

• Sold prior to auction
• 3 Bed, 3 Bath, 2 Car.
• Ray White, Pam Thomas/Megan Murray.

07 Wren Crescent, Buderim

• Passed in, contact agent.
• 4 Bed, 2 Bath, 5 Car.
• Ray White, Pam Thomas/Megan Murray.

40 Lauren Drive, Buderim.

• Sold under the hammer for $830,000.
• 5 Bed, 2 Bath, 2 Car.
• Ray White, Kathryn Wilshire

3 Montage Court, Buderim

• Passed in, contact agent.
• 5 Bed, 2 Bath, 4 Car.
• Ray White, Kylie Kis.

20 Sarina Place, Maroochydore 

• Sold under the hammer for $1.3m.
• 4 Bed, 2 Bath, 2 Car.
• Ray White, Sarah-Louise Anderson.

2/13 Ballinger Court, Buderim

• Sold under the hammer for $520,000.
• 2 Bed, 1 Bath, 1 Car.

– Ray White, Brent Higgins.

10 Richards Street, Maroochydore

• Sold under the hammer for $1.43m.
• 4 Bed, 2 Bath, 2 Car.
• Ray White, Reuben Park.

301/6 Wharf Street, Maroochydore 

• Sold under the hammer for $1.7m.
• 3 Bed, 2 bath, 1 Car.
• Ray White, Niall Molloy.

10 Magpie Street, Nambour

• Sold under the hammer for $605,000.
• 4 Bed, 2 Bath, 3 Car.
• Ray White, Michael Scott.

6 Ibis Court, Parrearra 

• Sold under the hammer for $2.1m
• 5 Bed, 3 Bath, 2 Car.
• Ray White, Will Van Den Dungen.

01 Timana Lane, Maroochydore 

• Sold under the hammer for $1.175m.
• 4 Bed, 3 Bath, 2 Car.
• Ray White, Jason Mills.

2506/1A Mungar Street, Maroochydore 

• Sold under the hammer for $605,000.
• 2 Bed, 2 Bath, 2 Car.
• Ray White, Niall Molloy.

39 Lurnea Crescent, Mountain Creek 

• Sold under the hammer for $1.16m.
• 4 Bed, 2 Bath, 2 Car.
• Ray White, Alex Dennien.

301/14 Aerodrome Road, Maroochydore 

• Sold under the hammer for $665,000.
• 2 Bed, 2 Bath, 1 Car.
• Ray White, Candice Contencin.

32 Balemo Street, Minyama

• Sold under the hammer for $1.46m.
• 4 Bed, 3 Bath, 2 Car.
• Ray White, Brent Higgins.

20 Almaden Lane, Maroochydore

• Sold under the hammer for $1.145m.
• 4 Bed, 2 Bath, 3 Car.
• Ray White, Sarah-Louise Anderson.

13 Royal Pine Close, Buderim

• Sold under the hammer for $1.5m.
• 6 Bed, 3 Bath, 2 Car.
• Ray White, Alex Dennien.

12 Honeysuckle Court, Buderim

• Sold under the hammer for $895,000
• 5 Bed, 3 Bath, 3 Car.
• Ray White, Natalie & Mitch Sinclair.

350 Glenview Road, Glenview

• Sold under the hammer for $1.35m.
• 5 Bed, 3 Bath, 4 Car.
• Ray White, Alisha Galea.

87 Ikley Road, Eudlo

• Sold under the hammer for $1.06m
• 4 Bed, 2 Bath, 5 Car.
• Ray White, Kathryn Willshire.

63 Nicklin Way, Warana

• Sold under the hammer for $700,000.
• 4 Bed, 1 Bath, 4 Car.
• Ray White, Ryan Cramer.

520/102 Alexandra Parade, Alexandra Headland

• Sold under the hammer for $460,000.
• 1 Bed, 1 Bath, 1 Car.
• Ray White, Candice Contencin.

Selection of other auction results

8 Beach Haven Place, Mount Coolum 

• Sold for $1.8m.
• 4 Bed, 2 Bath, 2 Car, Pool.
• North Shore Reality, Jay Pashley.

36 Gilbert Street, Buderim 

• Passed in, offers over $1.65m
• 5 Bed, 3 Bath, 2 Car, Pool.
• The Agency, Dan Smith.

12 Le Claire Place, Buderim

• Passed in at $910,000.
• 5 Bed, 2 Bath, 2 Car.
• Ray White, Drew Colliver.

14 Monks Crescent, Buderim 

• Sold under the hammer for $814,000.
• 3 Bed, 2 Bath, 2 Car.
• Ray White, Brodie Rodgers/Jai Bellhouse.

56 Cavalry Way, Sippy Downs 

• Passed in, contact agent.
• 4 Bed, 2 Bath, 2 Car.
• Ray White, Gregory Ward.

8 Beach Haven Place, Mount Coolum 

• Sold for $1.8m.
• 4 Bed, 2 Bath, 2 Car, Pool.
• North Shore Reality, Jay Pashley.

Article source: www.sunshinecoastnews.com.au

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Hirsch & Faigen seek further Gold Coast development sites as apartment demand continues

It’s been an extremely successful few years in the Gold Coast apartment market for the Melbourne developer Hirsch & Faigen.

They saw huge success at their maiden Gold Coast apartment project, Hemingway at Palm Beach, which only heightened their view of both the short term and long term prospect that the Gold Coast was where they wanted to set up camp for years to come.

Hirsch & Faigen, led by Daniel Faigen and Richard Hirsch, are now on the hunt for their fourth site, following a sell out at Emerson Kirra Beach and solid sales occurring at Yves Mermaid Beach, now 80 per cent sold, with all three projects fully funded by ANZ and under construction by Hutchinson’s.

Given their track record of developing just off the Palm Beach beachfront, the dress circle Musgrave Street in Kirra, and Yves at Mermaid Beach, a rare prospect in the Gold Coast’s most blue chip suburb, they’re only after assets in A grade areas, with the intention of supporting the housing shortage on the Gold Coast. The team are also keen on investing further into the property market in the Gold Coast, with eyes on an A grade office building in the Broadbeach precinct.

When they launched Hemingway, the buying patterns were substantially different. They had around 50 per cent buyer demand from Brisbane and Gold Coast with the rest from Sydney and Melbourne when that began its sales in late 2020. Over the last 12 months however, it’s been fairly evenly split across the board.

Hirsch & Faigen’s view is that there will continue to be an ongoing shortage of supply and a maintained level of demand, Hirsch & Faigen’s Sales Director Matt George says.

“We expect the shortage of supply and solid levels of demand to continue in the next decade in the lead up to the 2032 Olympic Games,” George says.

Hemingway sold out in mid-2021, with Hutchies now well underway on the construction, estimated to complete early next year.

The 14-level Hemingway, named after the famous author and featuring a distinct blush façade, sold all of its 78 apartments in just a few months.

Then came Emerson at Kirra, which was one of the hottest pockets of real estate in the Gold Coast. They recently sold out the building, with the final piece, the $8 million penthouse, selling to a Sydney purchaser relocating their young family to the Gold Coast. That had 27 luxury apartments, with prices starting from $2 million. In a nod to the quality of the design, Hutchies QLD boss and construction industry veteran Greg Quinn and wife Anne bought two apartments in Emerson, worth $3 million each.

H&F’s only current project is Yves, the third that they’ve had renowned architecture firm Rothelowman design.

They said Yves is a nod to the history of coastal masonry walk ups.

“Embedding the coastal traditions of this place within high density apartment precincts is not by any means a straight forward task,” Rothelowman noted in their design submission to the Gold Coast City Council.

The $200 million project saw half of its 145 apartments snapped up in the first two months of marketing, with locals making up the most of the buyers.

Final podium stock and penthouses were recently released, with expectations that the whole building will be sold out in 2022.

Two-bedroom apartments start from $875,000. The three-bedroom apartments start from $1.5 million with eastern ocean views.

Article source: www.urban.com.au

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Spyre Group Plots Slender Tower in Coast Expansion

South-east Queensland developer Spyre Group continues its hot streak in Burleigh Heads, filing plans for an 18-storey slender apartment tower in the locale. 

The 46-apartment tower at 1871 Gold Coast Highway is around the corner from the developer’s $77-million Natura development, which broke ground earlier this year, and follows the record-breaking $20-million sale of the penthouse in the Glasshouse development. 

And the DKO-designed tower will be in good company with Morris Property Group buying up next door and Gurner putting its foot on a site at 1929 Gold Coast Highway. 

A four-storey block of 12 apartments would make way for the development on the 1012sq m rectangular block.

DKO Architecture’s design report highlighted the Burleigh headlands as inspiration for the coastal tower. 

“Taking inspiration from the Burleigh headland, the protective dense vegetation of the rainforest and the filtered views is reflected in the building’s plan,” the report said. 

“The finer grain of permeability is shown through the semi-solid sections of the facade, similar to the dense rainforest … [which] inspired the building’s facade.”

▲ DKO Architecture’s slender tower covers 44 per cent of the site on the Gold Coast Highway at Burleigh Heads.

The site fronts the Gold Coast’s Light Rail ‘spine’ and is close to amenities including the Burleigh Heads district centre, schools and the beach. 

The Gold Coast City Plan is encouraging dense urban environments along the Gold Coast Highway to support the light rail and suburban centres network. 

The development would comprise 14 two-bedroom apartments and 32 three-bedroom apartments with 82 carparks across two basement levels, ground level and an elevated parking level. 

The building will also feature about 240sq m of communal open space, including a gymnasium, pool and dining areas. 

The slender tower will cover about 44 per cent of the site, which planners said would produce “an incredibly slender bulk form while will facilitate an open, attractive and distinct skyline”.

Further north, Spyre Group is developing an 18-storey tower at Main Beach while it also has a $57-million 12-storey tower proposed at Coolangatta.

Article source: www.theurbandeveloper.com

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Stronghold Grabs Office Assets in Emerging Business Precincts

Property funds manager Stronghold has acquired three commercial office assets in south-east Queensland totalling $66 million.

The acquisitions include the purchase of 385 and 389 MacArthur Avenue in Hamilton Northshore in Brisbane’s inner north and a smaller asset at 10-2 Flinders Parade in North Lakes, midway between Brisbane and the Sunshine Coast.

The MacArthur Avenue properties were acquired in an off-market transaction from Sydney-based private enquiry group Alceon in a $60-million deal, while the Flinders Parade asset was acquired off market from a private investor for $6 million.

Established a decade ago, the fund manager has $220 million of assets under management across 13 trusts and has consistently achieved cash returns for its investors ranging between 8 per cent and 11 per cent per annum across its portfolio.

Stronghold head of funds management Bruce Anderson said the acquisitions represent a strategic foothold in two emerging business precincts.

“These three acquisitions strongly aligned with [our] specialist capabilities of owning and operating suburban office and industrial assets,” Anderson said.

Former QIC managing director of global real estate Steve Leigh helped guide the strategic commercial acquisitions as a member of Stronghold’s investment committee.

The three-level building at 385 MacArthur Avenue, completed in August 2020, comprises 3600sqm of A-Grade commercial office space and is fully tenanted.

▲ Brisbane-based funds manager Stronghold has been on a $66-million shopping spree in south-east Queensland.

The neighbouring three-level building at 389 MacArthur Avenue is under construction and will deliver 3600sq m of A-Grade commercial office space. It is scheduled for completion in mid-2023.

Combined, they represent almost 40 per cent of the total commercial space available within Hamilton Northshore.

Further north, the acquisition of 10/2 Flinders Parade, North Lakes, presents a strategic holding within an established business park in one of the fastest-growing regions in Queensland.

The two-storey building comprises 870sq m of commercial office space and is currently supermarket chain IGA’s Queensland head office.

“Hamilton Northshore is a site of long-term strategic value, located within 6km of the Brisbane CBD and Brisbane Airport,” Anderson said.

“It is also situated within Queensland’s largest urban renewal development and is the site of the future Athletes Village of the Brisbane 2032 Olympic and Paralympic Games.

“The [state] government is 10 years into a 40-year masterplan for this priority development area, which is already attracting increased infrastructure investment, innovation, and business.”

The Hamilton Northshore priority development area will eventually encompass 304ha along the Brisbane River.

The 2032 Olympic and Paralympic Games are expected to host more than 16,000 athletes and officials during the Olympic Games and 8000 during the Paralympic Games.

The athletes village is earmarked for a vacant site alongside Eat Street Northshore shipping container hospitality site, which was developed in 2017.

Further north, major businesses such as Costco and Ikea have already established themselves in North Lakes and the University of the Sunshine Coast is moving ahead with its plans to create a new 200ha campus there.

Article source: www.theurbandeveloper.com

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$160m Stage One release sold out in Tower 1 Paradiso Place as demand for apartments with lifestyle offerings continues

All 150 apartments in Stage One of Tower 1 Paradiso Place have been sold, opening up the early release of 106 apartments in Stage Two.

Tower 1 is the first of three residential towers at Paradiso Place, an $940million landmark development by SPG Land that will transform a 11,483 sqm whole-city block between Surfers Paradise Boulevard and Ferny Avenue at the northern end of Surfers Paradise.

Demand for apartments in Tower 1 Paradiso Place is being attributed to the quality of the development and apartments, the extensive five-star resort lifestyle amenities and desirable location one block from the beach in one of Australia’s most vibrant and cosmopolitan oceanside neighbourhoods.

Luxury apartment marketing agency TOTAL Property Group manages apartment sales at Paradiso Place and reports strong market approval, with 97% of apartments in Stage One purchased by people living in Australia.

“Demand for apartments at Paradiso Place has been remarkable, with Australian buyers securing all apartments in Stage One,” TOTAL Property Group Managing Director Adrian Parsons said.

“We haven’t seen this level of demand in over two decades and the Gold Coast property market is showing no signs of slowing down.

“Limited apartment stock available and the continued growth of Gold Coast with its lifestyle and close proximity to a capital city attracting a steady influx of interstate migration is motivating buyers to act quickly.

“On the back of a successful campaign for Stage One, we are now rolling out Stage Two and presenting 106 one, two and three bedroom apartments to a market that is hungry for quality residential apartments of the high standard being delivered at Paradiso Place.”

The $110million Stage Two consists of 106 apartments including 11 one-bedroom apartments starting at $591,000, 68 two-bedroom apartments from $842,000, 19 two-bedroom plus multipurpose room apartments beginning at $1,262,000 and 8 three bedroom apartments from $1.6 million.

In Stage One, valued at $160million, the 150 apartments already sold comprise of 21 one-bedroom and 92 two-bedroom apartments, 13 two-bedroom plus multipurpose room apartments and 24 three bedroom apartments.

Only three percent (3%) of the purchasers in Stage One of Tower 1 Paradiso Place are from overseas, while the majority of apartment sales (97%) has been secured by people living in Australia; New South Wales (39%), Queensland (32%), Victoria (21%) and other parts of Australia (5%).

Paradiso Place developer SPG Land is known globally for delivering luxury residential lifestyle apartments of high quality and Paradiso Place is appealing to apartments buyers for its unprecedented level of amenity, style and smart living at its premier oceanside address.

Far exceeding other residential apartments on the market, Paradiso Place’s exclusive five-star resort facilities on the Level 2 podium include an all-day dining restaurant and 3 swimming pools, including a large central feature lagoon pool with swim-up bar.

An artist’s impression of the lagoon pool with swim up bar for residents on the Level 2 amenities podium

A full floor in Tower 1 on Level 26 is dedicated to state-of-the-art co-working spaces exclusive to tower residents and on the ground level an expansive retail and dining precinct will create a vibrant neighbourhood precinct.

A retail and dining precinct on the ground level of Paradiso Place will become a new neighbourhood for Gold Coast

SPG Land Deputy CEO Eric Chan says the development team is pleased that Paradiso Place has been so well received by Australian buyers who have given the development a strong vote of confidence.

“Surfers Paradise is undergoing a lot of urban renewal and SPG Land is contributing to the reinvigoration of the northern end of the suburb with Paradiso Place to deliver a new neighbourhood designed for owner occupiers,” Eric Chan said.

“Today’s owner-occupiers expect smart living and Paradiso Place has incorporated a fully-integrated smart home platform across the new luxury masterplan development, creating a smart community for seamless connectivity and convenience.

“SPG Land has given a great deal of consideration to modern use of apartments and has focused on providing premium lifestyle facilities at Paradiso Place, offering an exceptional residential lifestyle on par with prestigious global standards.”

SPG Land is raising new standards for luxury residential apartments, with inclusions never before experienced on the Gold Coast.

Smart home technology gives residents full control over their smart apartment while at home and remotely via an app that can be used to book the building’s facilities and communicate with the building management team.

Market-leading ceiling heights across Tower 1 include 2.95m living areas and 2.65m in kitchens in all apartments, the residents’ lobby and in the Level 26 co-working spaces have 5.2m ceilings, and the Level 2 Podium facilities have a 4.65m ceiling height.

More information on apartments at Tower 1 can be discovered at the expansive $4m Paradiso Place Sales Gallery located at the development site, 103 Ferny Avenue, Surfers Paradise.

The Paradiso Place Sales Gallery is the largest development display in the Southern Hemisphere and includes two full-scale apartments, a spacious grand foyer showcasing design features of Tower 1’s lobby and an impressive 2.5-metre scale model of the three-tower development.

A 60sqm immersion room and virtual tours of the Paradiso Place development enable purchasers to experience the views, location and SPG Land’s vision for Paradiso Place, while free onsite parking offers purchasers the opportunity to spend time exploring the full-sized apartments, quality of luxuriously-styled finishes and extensive amenities throughout Paradiso Place.

Article source: www.einnews.com

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