Queensland Property Investment

A Gold Coast property for sale comes with a ‘wellness retreat’ that’s worth over $300,000. (Kollosche)

The wellness retreat consists of a sauna, ice bath, spa and a red light therapy room. (Kollosche)

However, agent James Roberts of Kollosche tells Nine that the value of the wellness retreat alone is $300,000-plus.

The wellness retreat consists of a red light therapy room, commercial-grade sauna, spa and a built-in mineral ice bath, as well as a lagoon-style pool and alfresco area.

Advocates say the benefits of red light therapy include the reduction of wrinkles and age spots, and an overall improvement in the health and appearance of skin.

Saunas are said to aid in digestion and the flushing out of toxins, and ice baths can understood to assist in reducing inflammation and swelling among other reported benefits.

The main residence is described as a “sophisticated smart home” by the listing agents.

What makes it a smart home is the ability to operate fixtures and features through a smartphone or tablet.

Interiors of the single-level home are luxurious with walls finished in Venetian plaster, French Oak floorboards, limestone tiles, pure wool carpets and marble benchtops in the kitchen and bathrooms.

The property is scheduled to go to auction at 3pm on April 28. Pricefinder records reveal the property last sold for $2.7 million in May 2022.

Palm Beach is a coastal suburb of the Gold Coast within close proximity to Burleigh Heads and Tallebudgera Creek.

Domain’s latest data reveals the median price for a four-bedroom home in Palm Beach is $1.665 million.

Four other properties for sale in Palm Beach, Queensland

86 Nineteenth Avenue

The four-bedroom, three-bathroom home has a price guide in excess of $1,999,000. (Ray White Burleigh Group)

16 Satinwood Place

The four-bedroom, two-bathroom home offers “resort-like appeal”. (Harcourts Coastal)

2/9 Diplacus Drive

The five-bedroom, three-bathroom home is described as a “premium waterfront entertainer” on the listing. (Ray White Burleigh Group)

138 Cypress Terrace

The five-bedroom, three-bathroom home is located just moments away from the beach. (Ray White Burleigh Group)

Article source: Queensland Property Investor

Looking to buy? The Qld suburbs where more homes are for sale

VENDOR confidence is on the rise in Queensland with more homeowners putting their properties on the market in March, a new report reveals.

PropTrack’s listings report for March shows new listings on realestate.com.au are up nearly 10 per cent month-on-month in Brisbane, with the number of homeowners in Mitchelton putting their properties on the market up a whopping 90 per cent compared to a year ago.

The coastal suburb of Newport has also recorded a big jump in new listings, followed by the rural town of Beaudesert, southwest of Brisbane.

There are still 16 per cent fewer new for sale signs than this time last year, but the total number of properties available for sale in Brisbane is 12 per cent higher than a year ago.

This six-bedroom property at 32 Aqua St, Newport, has just hit the market.

In regional Queensland, new listings are also up — rising 13.4 per cent in March compared to February, and the overall number of homes listed for sale is nearly five per cent higher than March 2022.

“The good news for buyers is that choice has improved compared to a year ago,” PropTrack economist Angus Moore said.

But, he said that may be shortlived.

“With the peak of the autumn selling season now behind us, we expect market activity will ease over the next few months, as it usually does after Easter and into the quieter winter period,” Mr Moore said.

The report found all capital cities saw an increase in new listings, led by Adelaide.

“While selling conditions are softer than a year ago, and market activity has slowed, conditions have improved from late 2022 and the fundamental long-term drivers of demand for housing remain solid,” Mr Moore said.

“We’ve seen home prices increase slightly in recent months — a change from the consistent

price falls seen throughout much of 2022. Auction clearance rates have firmed up a bit through the first quarter of 2023 compared to last year.

“The unemployment rate has remained close to multi-decade lows for the majority of 2022 and into early 2023. Wages growth, while running slower than inflation, has started to pick up. “International migration has also resumed, which will further add to housing demand.”

This four-bedroom property at 79 Brooklands Dr, Beaudesert, is for sale.

SQM Research figures show asking prices for houses in Brisbane increased slightly in March, in another display of vendor confidence rising.

The asking price for a house in the city is now $947,000 — 5.6 per cent higher than a year ago.

The unit asking price in Brisbane stayed steady in March, but is still up 15 per cent compared to March 2022 at $503,000.

The number of properties available for rent in Brisbane has also risen slightly, according to SQM Research figures.

The rental vacancy rate in March rose from 0.8 per cent in February to 0.9 per cent — still incredibly tight.

Asking rents for houses in Brisbane are nearly 14 per cent higher than they were a year ago at an average $672 a week, while asking rents for units are even more — jumping 26 per cent to $524 a week.

But SQM Research managing director Louis Christopher said the rental crisis in the regions had peaked.

The Gold Coast’s rental vacancy rate increased to 1.1 per cent in March — the highest level recorded since October 2021.

“The rental crisis in Australia’s regions has peaked with an easing in rental vacancy rates and

rents across many smaller townships and coastal locations,” Mr Christopher said.

QLD SUBURBS WITH THE BIGGEST INCREASE IN NEW LISTINGS

Suburb Year-on-year change

Mitchelton 90%

Newport 87%

Beaudesert 75%

East Brisbane 69%

Park Ridge 61%

(Source: PropTrack)

Article source: Queensland Property Investor

Billionaire Plots Brisbane Olympic Legacy Projects

Queensland billionaire John Van Lieshout has doubled down, filing plans for two residential projects in key Brisbane suburbs with a focus on tapping into the legacy of the 2032 Olympics.

Unison Projects, the Super A-Mart discount furniture chain founder’s development and property investment company, is seeking approval for a total of 139 apartments at inner-city West End and Herston.

The West End residential-led, mixed-use proposal comprises 101 apartments across a stepped tower form rising 10 to 18 storeys on 2074sq m site spanning four lots at 15-17 Mollison and 35-39 Bank streets.

To be known as Bank and Mollison, the Rothelowman-designed scheme “imagines a future city that is connected through the provision of privately owned, publicly accessible ground-plane spaces”.

It includes 700sq m of landscaped open space on the ground level incorporating an inverted podium “to draw people into and through the site” with multi-functional tenancy space to be flexibly used for retail, commercial or community use purposes as well as a food and drink outlet.

Above, the tower would feature 24 two-bedroom, 76 three-bedroom and one four-bedroom apartments. And below, in the basement levels, would be 177 car parking and 101 bicycle parking spaces.

Communal space totalling 902sq m would be included across four levels with an outdoor gym, wellness lawn, pool, steam and sauna rooms and outdoor dining and lounge areas among the amenities.

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“The design concept pursues a high quality architecturally designed and landscaped outcome over the site, to establish a public benefit for the locality, together with creating a very liveable and sub-tropical design exemplar,” the planning documents said.

It also noted the upcoming Brisbane 2032 Olympics as “a basis for progressing exciting transformative projects that energise all parts of Brisbane”.

“The site’s proximity and visibility to the future Olympics Media Centre site (which in time will be transitioned to Southbank 2.0 anticipated to provide recreation, cultural and urban development outcomes) provides it with a focus for Olympic legacy outcomes,” the development application said.

The Herston proposal is for a five to seven-storey apartment building earmarked for a medium density zoned 2027sq m holding spanning three lots at 51-53 Bramston Terrace and 7 Weightman Street.

It would comprise 38 two and three-bedroom apartments with 82 ground level and basement car parking spaces.

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“Herston has observed a notable gentrification and evolution over the recent years namely due to Herston Quarter and nearby RNA precinct, creating a weaving of old and new local stories,” the DA said.

“The site’s context presents the opportunity to respond to the changing contextual and residential market and diversify the medium density living product within Herston by providing a high quality sub-tropical design outcome, with the opportunity for households and families, including key workers, to live in a well-located, inner-city environment.”

The Ellivo Architects-designed scheme includes a total of 368sq m of communal open space at the ground level and rooftop featuring a pool, casual seating, a fire pit, vegetable/herb garden, outdoor kitchen and dining room.

Article source: Queensland Property Investor

Industrial, Logistics Rents Continue to Climb

Industrial and logistic rents are continuing to rise across Australia, underpinned by extremely low vacancy rates.

According to new data from CBRE, the average net face rents for super prime assets in Sydney jumped by another 7.5 per cent in 2023’s first quarter, bringing the year-on-year growth rate to 38.1 per cent—the strongest in the country.

Perth followed with 30 per cent year-on-year growth after a 4.0 per cent rental hike in the first quarter.

Rents have also accelerated in Melbourne, following a similar trajectory to the Sydney market during 2022, CBRE said.

The Victorian capital experienced 5.2 per cent average rental growth in the quarter, taking the year-on-year growth to 23.4 per cent.

Effective rental growth in Melbourne was even higher at 8.3 per vent, as incentives fell, taking year-on-year growth to 38.3 per cent.

CBRE Australian head of industrial and logistics research Sass J-Baleh, said that for the first time, average rents in Sydney have surpassed $200 per square metre super prime grade assets, reaching $215 per square metre.

“Strong rental growth has also been observed in Melbourne, however, this is off a low base and the city’s average super prime rent remains quite attractive for occupiers at $119 per square metre—the lowest in the country.”

CBRE industrial and logistics regional director Cameron Grier said delays caused by planning issues had exacerbated the rental situation in Sydney, with the vacancy rate shrinking to less than industrial and logistics 0.5 per cent, the lowest levels globally.

“The severe undersupply of Sydney stock is due to high take-up in 2021-2022 and supply issues caused by inclement weather and planning approvals, which has super charged rent,” he said.

▲ Vacancy rates driving rent rises: CBRE’s Sass J-Baleh and Cameron Grier.

“For every building available there are three to five users fighting for it and the person who signs first, wins.

“The only thing that will solve this is more supply and that won’t happen until planning authorities can turn around approvals in a speedier way.”

Based on the current Sydney pipeline, CBRE is forecasting rents could rise by a further 10 per cent by year’s end.

There is also scope for strong growth in Melbourne rentals over the next 12 months, with CBRE forecasting an additional 13 per cent increase in super prime rents by the end of 2023.

“The Melbourne market has an extremely low vacancy rate of around 1 per cent and a high pre-commitment rate for new developments coming online over 2023 to 2026,” J-Baleh said.

“Of the approximately 1.7 million square metres of confirmed stock in the pipeline for this period, 72 per cent has already been pre-committed.”

National rents skyrocket

This sentiment was echoed by new data from JLL, which reported that national prime existing industrial rents had grown by 24.8 per cent during the past 12 months.

This was the strongest annual rental growth since JLL began tracking the market 34 years ago.

The March quarter reading at 4.6 per cent growth quarter-on-quarter illustrated market acceleration again, exceeding more moderate growth in the last quarter of 2022 at 2.9 per cent, and following the extraordinary quarters of growth in the third quarter of 2022 of 9.3 per cent and 6.1 per cvent in 2022 second quarter, a JLL spokesperson said.

East coast markets performed very strongly in the first quarter of this year, delivering yearly rental growth ranging from 20 per cent to 40 per cent in key markets, JLL found.

JLL head of industrial and logistics, Australia Peter Blade said they anticipated rental growth would remain strong this year even as economic challenges created business caution.

“The supply demand imbalance created in 2021 is taking time to reset. The development pipeline is building,” he said.

Article source: Queensland Property Investor

Saturday 29 April 2023

The latest trends in outdoor kitchens

The humble barbie is forever burnt into the Australian psyche, but the growing popularity of outdoor kitchens has flipped the way we cook al fresco.

The global outdoor-kitchen market is tipped to reach upwards of $47 billion within the next five years, and Australians have been swept up in the trend that is reshaping how we live and entertain at home.

Long COVID lockdowns forced many Aussies to reconsider the way their homes best function and whether or not they fully meet their needs, while the introduction of outdoor dining and socialising dovetailed to put outdoor kitchens on many home owners’ wish lists.

All that time at home taught people that they can enjoy themselves just as much, if not more, with the right set-up in their own backyards, according to interior decorator Lauren Egan.

“Outdoor dining became so important for our socialisation, and that really got us thinking about how to entertain outdoors,” Egan says. “Now, with a few years of reflection, we’re doing this with greater thought and savvy decisions, which sees us including more creature comforts.”

Interior designer Lauren Silvaria says outdoor kitchens feature in almost every project she works on.

“Our love for the outdoors and being able to have family and friends come together in a relaxed and private setting is the Australian way.”

Domain spoke to the experts to find out what’s trending in outdoor kitchens in 2023.

Outdoor cooking has moved beyond the humble barbecue. Photo: bernardbodo

Size and layout matter

Gone are the days when entertaining meant having to nip back and forth between the outdoor table and the indoor kitchen, says Adam Douglas of LimeTree Alfresco. Outdoor kitchens have begun to mirror their indoor counterparts when it comes to size and functionality.

“We are seeing a lot more projects that have integrated casual seating – L-shape and U-shape styles that are connecting people with the person cooking,” he says.

Built-in fridges, sinks, pizzas ovens, fire pits and top-shelf appliances such as ice makers and beer taps mean outdoor chefs are self-sufficient, and Douglas notes a lot more attention is also being paid to lighting, cabinetry and decoration.

Energy efficiency

More home owners are embracing sustainable and energy-efficient features in their outdoor kitchens, including solar-powered lighting and water-saving devices, says Maria Monteverde of Kastell Kitchens.

It’s a trend that has also been recognised by The Gas Showroom’s Jodie Smith, who says most customers choose to install natural-gas heating and barbecues.

“Natural gas is far more energy efficient,” she says. “It heats quicker and is cheaper to run. Plus, you don’t have the hassle of changing the gas bottle.”

Smith says the store’s range of in-built Weber barbecues, which can be powered by natural gas, are a hit with customers.

“They are becoming very popular due to various features such as taps, fridges, rotisseries, smokers and cabinets.”

Outdoor kitchens have begun to mirror their indoor counterparts. Photo: brizmaker

Natural materials

As an extension of growing environmental sensitivities, home owners are also wanting their al fresco spaces to feel more organic, Silvaria says.

“Earthy tones coupled with native flora are hot in the Australian landscape scene right now.”

Natural timbers and stone are becoming increasingly popular, Monteverde says. “These materials add warmth and character to the space and can blend seamlessly with the natural surroundings.”

Flexibility is key

Yimmy Kosasih, director at KOS Architecture and Interiors, says outdoor kitchens are the norm in the high-end homes he designs, but he advises clients to think beyond barbecuing and entertaining.

“Since COVID-19, I encourage home owners to build the outdoor kitchen as an outbuilding that can be used as a flexible space,” he says. “This space can then double as a workspace or gym, if required.”

Smarter kitchens

Experts are seeing touch-of-a-button conveniences making their way outdoors.

“Outdoor kitchens are becoming smarter with the integration of technology,” Monteverde says.

“For instance, home owners can now control their outdoor kitchen appliances, lighting, and sound systems remotely using their smartphones or voice-activated virtual assistants.”

Article source: Queensland Property Investor

The seven best luxury homes on the market right now

Whether you’re looking for a high-end inner-city abode or an estate in the countryside, there’s something for everyone in this line-up of some of Australia’s best prestige homes.

2501/43-49 Peerless Avenue, Mermaid Beach

The recently completed Bela penthouse claims panoramic views stretching from Coolangatta to the city skyline and is brilliantly located a short stroll from the beach, cafes and The Star casino.

The apartment spans 354 square metres and includes two living zones, a kitchen with a butler’s pantry and a rooftop terrace with a pool, spa and outdoor kitchen.

1502/20 Queens Road, Melbourne

1502/20 Queens Road, Melbourne

The Albert Park Lake precinct, South Melbourne Market and the restaurants of South Yarra and St Kilda are all just within walking distance of this expansive apartment in the Victoriana building.

Enjoy sweeping city and park views, a Gaggenau-appointed kitchen and access to communal facilities including a pool, gym, lounge and garden terrace.

5/120 Avoca Drive, Avoca Beach

5/120 Avoca Drive, Avoca Beach

It’s only a hop, skip and jump to the beach from this penthouse, which claims north-easterly ocean views from the living spaces and all three bedrooms.

Set within the prized Quarterdeck complex designed by White + Dickson Architects, the apartment comes with a wraparound courtyard, covered balcony and direct lift access.

53 St Albans Street, Abbotsford

53 St Albans Street, Abbotsford

This Hamptons-style home adjoins a waterfront reserve and has a heated pool, landscaped gardens and serene views over Hen and Chicken Bay. The split-level floor plan provides great separation between living and sleeping zones and includes an island kitchen, a big rumpus room, a guest suite and a dedicated home office right by the front door.

44 Stock Road, Lower Inman Valley

44 Stock Road, Lower Inman Valley

Crozier Hill Homestead comes with its own water company, ensuring the year-round health of the rolling lawns and thousands of trees and shrubs on the 4.9-hectare estate. The property features a historic four-bedroom homestead and a two-bedroom converted stable, as well as a pool and dams. It’s a five-minute drive to Victor Harbor’s town centre.

26 Helsal Point, Safety Beach

26 Helsal Point, Safety Beach

A magnet for boaties, the Martha Cove waterways cater for all your boating needs with a marina and safe, easy access to Port Phillip Bay. This designer residence comes with a private pontoon and spaces to keep young and old entertained. There’s an infinity-edge pool, a media room, a glass-encased wine cellar and a top-floor main bedroom retreat.

112-118 Buchanan Road, Berwick

112-118 Buchanan Road, Berwick

A collaboration between interior designer Fiona Austin and Peter Jackson Design, this park-like estate measures 6867 square metres and features an ornamental lake, a solar-heated pool and a sprawling residence with space for a large family. There are five separate living zones, herringbone timber floors and garden views in every direction.

Article source: Queensland Property Investor

Foldable timber shack sells for more than $1.5 million in Queensland

A buyer has handed over more than $1.5 million to secure a foldable cabin in idyllic rural Queensland.

The property at 825 Maleny Kenilworth Road, Elaman Creek, is situated on a 175-acre parcel of land, and what makes it truly unique is its compact and transportable design.

Sold for $1.52 million earlier this month, the hardwood timber cabin sleeps four people and can be transported around the grounds with its “fold-down awning and deck”.

There are no inside shots of the shack on the listing by Jason Bartholomew of Maleny Realty. However, it does have off-grid power and there is a composting toilet on site.

825 Maleny Kenilworth Road, Elaman Creek, Queensland

This timber cabin on a 175-acre parcel of land in rural Queensland has been snapped up for $1,520,000. (Maleny Realty)

The 175-acre block of land with its cosy cabin is described on the listing as the ultimate “hinterland weekender” that offers “total privacy and seclusion.

Elaman Creek is a rural locale in the Sunshine Coast Region, about 87km from Brisbane.

It offers peace and serenity with a population of just 55, and an average age demographic of 40 to 59 years.

Caloundra’s popular beaches are approximately a 50-minute drive away, while a trip to the local shops is just a 10-minute trip.

The buyer will be able to enjoy the rainforest and bushland setting, as well as the creek, swimming hole, horse and motorbike trails on site.

Agent Jason Bartholomew suggests there is “plenty of Instagrammable material” should the buyer be that way inclined, as well as potential to build onto the site.

Four properties for sale in Maleny, Queensland

38a Tamarind Street

The three-bedroom, two-bathroom home is a “great hideaway if you want seclusion”. (Maleny Realty)

85 Treehaven Way

The three-bedroom, one-bathroom home is located on a treelined street. (Maleny & Hinterland Real Estate)

1055 Landsborough Maleny Road

The three-bedroom, one-bathroom home features a renovated bathroom and kitchen. (Maleny & Hinterland Real Estate)

9 Callistemon Court

The three-bedroom, one-bathroom home is located in a cul-de-sac. (Ray White Maleny)

Article source: Queensland Property Investor

Friday 28 April 2023

Australia’s top 10 most expensive Airbnbs: Inside properties owned by Richard Branson, Finder founder and property moguls

Amazing Australian properties owned by the likes of Richard Branson, tech billionaires and property moguls are among the most expensive short-stay homes in the country.

The nation’s priciest Airbnb houses have been revealed in a new report by SMoney, showing cashed-up jetsetters are willing to spend nearly $25,000 per night for luxury.

As Australia is in a midst of a housing crisis and rental affordability woes, the top end of the market appears to be thriving.

Australia’s domestic tourism sector has bounced back strongly post-Covid, with an increase in spend across all states and territories. Holiday spend increased by 57 per cent (or $5.9 billion) over the September 2022 quarter compared to the September quarter 2019, according to realestate.com.au.

Of the top 10 most expensive properties, four are located in NSW, three in Victoria, and three in Queensland.

This South Coogee property is Australia’s most expensive Airbnb home right now. Picture: Supplied/Airbnb/SMoney

The jaw-dropping ‘Crypto Castle’ in South Coogee tops the list, which was purchased by co-founder and CEO of the comparison website, Finder Fred Schebesta for $16.85m.

The 39-year-old, who went from working in a Pizza Hut call centre as a university student to running a business employing 450 staff in 80 countries, now has a net worth of $214m.

The house has knockout views. Picture: John Appleyard

Located right on the cliff next to the beach, the castle has five bedrooms and five bathrooms, incredible views, an infinity pool, sandstone battlements, a gym, rooftop terrace, a wine cellar., and a chef-grade’s kitchen with Gaggenau appliances.

For those with a desire to go all out and book an entire body of land, and island in Noosa made number two on the nation’s list, with a minimum three-night stay that will set visitors back a whopping $75,000 minimum.

Makepeace Island in Noosa was developed as a private retreat for family and friends of the owners, Sir Richard Branson and Virgin Australia co-founder Brett Godfrey.

The sustainable property features some baller inclusions — like meals prepped by a multi-award-winning chef, access to the 500,000L pool, a 15-person spa, a tennis court, a gym, walking trails, and paddle boards and kayaks.

Inside the luxury private retreat in Noosa.

Founder of luxury rental listing business Luxico Alex Ormond said there are plenty of these high-end and high-priced homes available for those with very deep pockets.

“In addition to the listed homes, we have a number of properties that are not advertised but that are made available to celebrity and VIP guests from time to time,” Ms Ormond told realestate.com.au.

“The highest nightly rate paid by one of our guests is $30,000 per night.”

Victoria’s highest-placed property on the list is a villa located in St Kilda West, that was recently sold by real estate guru Anthony Catalano.

Victoria’s most expensive Airbnb was recently sold by Anthony Catalano.

The pool and back yard of the St Kilda West home.

The former Domain boss is believed to have tripled his money on the St Kilda West mansion, after purchasing it for $4.6m in 2011.

Kay & Burton executive director Scott Patterson told the Herald Sun that the St Kilda West house was “one of the best homes in the area”.

“With a rooftop terrace that looks over the beach and the Catani Gardens, it’s in a pretty spectacular position,” Mr Patterson said.

“And the house itself was faultless.”

Behind a vine-covered facade, the ritzy eight-bedroom pad features a number of luxury fittings, including a gym, lift and seven bathrooms.

Hayley Lewis, the millionaire daughter of Computershare founder Chris Morris, is believed to be the buyer, who has wasted little time listing the home on Airbnb – which will set visitors back just over $11,800 per night.

Most expensive AirBnB’s in Australia revealed. Picture: Supplied/Airbnb/SMoney

Article source: Queensland Property Investor

Second stage of The Cove to feature apartments ranging in price from $1.4m to $5.3m

A residential development by the water’s edge is taking shape, with construction starting on a second stage that will feature dozens of opulent residences.

The Cove at Pelican Waters, a $400m luxury development, is being delivered in four stages in four years.

It’s set to boast a mix of elegant coastal residences with access to private swimming pools, recreation spaces, waterfront restaurants and cafes on the doorstep of the first dedicated marina precinct delivered in South-East Queensland in decades.

Construction for Stage 1, Corsica, is well underway with the top floor about to be built. It will comprise 15 terrace homes and 36 luxury apartments. With sales of $40 million, the terraces are sold out and only a handful of apartment opportunities remain.

Now, construction for Stage 2, Comino, has started.

It will feature 40 apartments on what has been dubbed the last waterfront apartment site in Pelican Waters.

The apartments will boast grand views.

Comino will offer six levels of owner-occupier styled plans, ranging in price from $1.4m to $5.3m and in size from 197sqm up to 511sqm for the grand penthouse.

Options include six two-bedroom apartments, 33 three-bedroom residences and the deluxe grand penthouse, all with between two and six secure car parks.

A select number of apartments will feature access to the exclusive River Room lounge on the ground level with private liquor cabinets, pool table and deck overlooking the water.

Residents will be able to enjoy private beach rooms and access to a resort-style pool, and they will have secure vehicle and pedestrian gate access.

An artist’s impression of Comino, where residents will have access to pools and recreation facilities.

Construction of Comino was fast-tracked due to the appetite for high-end stock in Pelican Waters.

The Cove director and sales manager Marcus Muir said Comino was generating waves of interest, with buyers drawn to the house-size apartments and connection to water and the community.

“Stage 2 is an $85m project so it’s quite a large project for Pelican Waters but it’s one that the market wanted to see in being delivered,” he said at a media event.

“It’s a five-star amenity-based development, with large floor plans, exceptional views and direct water-front.

Mr Muir said there was a strong demand for residences at the precinct, including from many locals.

“Sales are strong,” he said at a media event on Thursday.

“And we’ve been very well supported by the community, as about 85 per cent of our sales are within a 5km radius of the development.”

The development of The Cove is being led by Henzells Property Group, with Evans Built behind the construction of the first two stages.

An artist’s impression of stylish living at Comino.

Henzell Property Group managing director Mclean Henzell said construction could not be in better hands.

“We are delighted to be carrying our strong relationship with Evans Built into Stage 2 of The Cove, to be known as Comino,” Mr Henzell said via a press release.

“As a family owned and operated company with a string of award-winning projects to their credit, they have proven the perfect choice for what will be a landmark lifestyle development for the southern Sunshine Coast.”

Article source: Queensland Property Investor

‘Full of potential’: rare tourism or residential development opportunity hits market

An extensive resort-style hinterland site that’s “full of potential” and promises to fill an accommodation gap in the area has hit the market.

Spanning 6849sqm at Eerwah Vale, near Eumundi, the site comes with a pre-existing DA approval for The Meadow – a tourist or residential accommodation concept.

The proposal encompasses 36 resort-style units, a manager’s residence and a wellness centre on separate titles.

The layout and design by Blackwood Architecture includes “a high-end architectural design with stone render with deep recessed eaves and timber balconies set within a well landscaped setting”.

An artist impression of The Meadow. Picture: Blackwood Architecture

The 36 mostly one-bedroom units would be spread over three blocks and two levels, including ground-level courtyard access to the north as well as first-level balcony access.

It also includes a two-bedroom caretaker’s unit and reception area, and is surrounded by a significant open space as well as landscaping that includes a large communal pool and gym.

It also boasts 50 car parking spaces and a total gross floor area of 1342sqm.

Forde Property sales partner Jessie Allen said potential buyers could explore tourist or residential accommodation options, meaning they could develop and sell the total 38 saleable titles off the plan, or build and retain it as a rental income model.

She said there was also an alternate approval for 36-room resort or motel with two other titles.

“There is very limited accommodation in the Noosa hinterland and strong demand is evident from investors and occupiers for affordable resort units,” she said.

The development site is located just out of Eumundi.

“This is supported by the huge success of other tourist accommodation complexes like Ivory Palms, South Pacific, Peppers and the Islander.

“The current demand is also sky-rocketing for workers’ accommodation and tourism.”

Once built, she said the development would fill a gap for accommodation options around that area.

“It’s quite an interesting development,” she said.

“Its purpose is to create some new exciting accommodation at Eumundi, as there is obviously not a lot around that area.

“There is a bit of a need for it and there is there’s nothing else like it around – not even at Cooroy. There is only that one little hotel down that way.

“The Noosa region and the Sunshine Coast as a whole is still booming and we are not seeing a slowdown for accommodation or tourism.

“It’s a perfect location for people to lob in for a one-night stay or to live.

“They can quickly drive into town and the markets are right there – it’s full of potential really.”

While the Sunshine Coast Council originally approved The Meadow proposal in 2021, the owners (Noosa Shire Developments) and planners (Pivotal Perspective) recently lodged a minor change to the development to remove an additional restaurant from the plans.

Design plans of the ground floor. Picture: Blackwood Architecture

Ms Allen said the inclusion of a restaurant in a development was in line with an older model of hotels.

“We decided – especially around Noosa – that it doesn’t really work anymore, because we were finding it a bit hard to lease out restaurants separately,” she said.

“The caretaker’s residence is necessary though and everyone loves a gym when they go on holidays.”

She said the interstate owners put the site on the market to gauge interest, to either develop it themselves or to “flick it on”.

An artist impression of a bedroom at The Meadow.

“The idea is to do separate titles and actually sell it off to investors, similar to what Australis did, or sell it off as one whole group,” she said.

While the site had been only sitting on the market for about a month, she said there was already quite a bit of interest from developers.

“We are looking at getting building quotes for the developers so they can get an idea, but it will depend on availability … there is a lot of people who are unavailable for building at the moment,” she said.

“It’s about getting someone who can get in there and do it.

Artist impression of The Meadow. Picture: Blackwood Architecture.

“If developers build it themselves they would probably be more interested in selling them individually rather than a package.

“It doesn’t need to be a strata until the decision’s made, so you don’t have to keep it as one and you don’t have to be paying 36 lots of rates. That would keep the costs down and make it more manageable, but if you wanted to sell it off it would be individually titled.”

She said the price point could not be revealed and would stay as an expression of interest campaign.

The Meadow is at 213 Memorial Drive, Eerwah Vale, with EOI closing on April 30. Contact Forde Property for further information.

Article source: Queensland Property Investor

Thursday 27 April 2023

Yeronga TAFE Masterplanned Redevelopment Breaks Ground

Construction has begun on a major urban renewal project in Brisbane’s south where a former TAFE college site is being transformed into a mixed-use precinct, including 281 homes.

The 3.1ha maspterplanned Parkside Yeronga at Park Road and Villa Street will also include a community centre, small-scale retail and commercial spaces, plus 4000sq m of public open spaces.

Parkside Yeronga Consortium—known as Yeronga Heart—will deliver a 169-apartment retirement living facility, 37 custom-designed town homes, and 75 social and affordable units within the Yeronga Priority Development Area (PDA).

Economic Development Queensland was leading the public-private consortium made up of JGL Properties, Brisbane Housing Company and Retire Australia, the state government said.

The project had attracted about $185 million in private-sector investment and created an estimated 532 construction jobs over four years, said the government, which is investing more than $40 million to prepare the site.

Bellwether Contractors have been tasked to deliver the masterplan civil works, infrastructure upgrades and the creation of serviced and development-ready lots, the government said.

▲ Partial render of the proposed Yeronga development.

Member for Miller Mark Bailey said the private investment would boost the local economy.

“Parkside Yeronga will be home to hundreds of Queenslanders who will live in a diverse range of housing styles in an area benefiting from a range of pre-existing and new community facilities,” Bailey said.

Yeronga Heart director Bill Bennett said the project would produce well-designed, innovative and affordable housing choices only 6km from the Brisbane CBD.

“Parkside Yeronga will address the area’s growing housing needs, with housing choices ranging from affordable units, terrace homes suitable for a family, to independent retirement apartments with onsite care.

“Future residents will benefit from established road and public transport access as well as new facilities within the precinct,” Bennett said.

Article source: Queensland Property Investor

Unrivalled views: the home perfectly balancing a modern beach house lifestyle

Photos do not do justice to this impeccable beach house, perfectly perched to offer a panorama of Coast life like no other.

Taking in views that stretch from Kings Beach to Bribie Island and west to the Glass House Mountains, the Bay House has been described as a “phenomenal place to be”.

Located at 10A Burgess Street, Kings Beach, the property has been designed to provide its owners with an unparalleled level of versatility in living.

The five-bedroom, five-bathroom home is spread over three spacious levels, with other features including a north-facing pool and an expansive yet ultra practical kitchen.

Selling agent Tristan Kurz, from Nazer Kurz and Cade, said the home was unrivalled in its appeal.

He said the well-designed beach house’s winning feature was unquestionably its spectacular views.

“It is one of those views where it could be at 5.30am watching the sun come up over Kings Beach or it could be at the very end of the day watching the sunset over the Glass House Mountains or Pumicestone Passage,” he said.

“You are able to enjoy a different show every day. It’s a phenomenal place to be.”

The pool upon entry to the home.

The home, sitting on a 582sqm block, was built in the late 1980s but has been renovated to become what Mr Kurz described as the perfect balance between being modern yet retaining the key elements of an authentic beach house.

“It’s a meticulously put-together house,” he said.

“It’s got that perfect balance between a house where you walk in and the appointments are very modern and the finishings are really sharp, but it still feels like a beach house.”

Mr Kurz said the home would suite a variety of buyers, especially due to its versatile living spaces.

He said the upper level, on street level, included the master bedroom, kitchen, European laundry, living areas, pool and deck, and was designed to allow full living to be done from here.

This would mean the fully self-contained lower levels could be used for multi-generational family members, teenagers or as guest spaces.

He said the home would also suit those wanting a luxurious weekender.

The property is close to Kings and Shelley beaches and is a short distance from cafes, restaurants, schools and the main street of Caloundra.

With offers over $3.89 million, Mr Kurz has invited interested buyers to book an inspection to experience the full beauty of the Bay House.

Article source: Queensland Property Investor

Prioritise Accessibility for Games, Brisbane Urged

Accessibility in all its forms needs to be urgently considered in Brisbane ahead of the Olympic and Paralympic Games in 2023 and beyond, according to a panel of experts at the Committee for Brisbane event last week.

The calls come at a difficult time for the construction industry, with price and labour pressures, in addition to onerous changes to the National Construction Code due to be adopted this year.

But the focus on accessibility should not be scrapped because it adds an extra hurdle for developers and construction companies, according to the panel.

“We talk about universal design and access and we’ve been talking about it for a very long time, but we need to stop talking about it and do it,” said Paralympian and chair of the Board for Sporting Wheelies and Disabled Association Michael Dobbie-Bridges.

“That’s not just around disability employment, it’s people with various disabilities. Getting around in a wheelchair is just one small part of it.

“If you look around the Brisbane skyline you can count probably 30 cranes. I want to know how accessible those new buildings are. Are [those developers] leveraging tech that already exists [for example]?”

Setting up alert beacons, contributing to Access Map apps, and bringing in organisations and individuals to test accessibility before opening are just small ways in which developers can help futureproof their own developments and contribute to the Brisbane 2032 legacy.

“There are some curb ramps here in Brisbane that I need to hit at full speed to get up… that’s not good enough. How hard is it to make a ramp that you can get up?

“There are some parts of this city I can’t go.”

It was announced in February that the Queensland Government will fund a $2.7 billion redevelopment of the Brisbane Cricket Ground, alongside a Federal pledge of $2.5 billion for the Brisbane Arena.

Sixteen new or upgraded venues will receive close to $1.87 billion in co-funding on a 50/50 basis between the two governments, under plans that align with Paralympics Australia’s strategic and legacy goals for the Games.

Clearly there is a commercial imperative to ensure acccessibility despite the costs, whether it is additional access routes of conforming to new design code changes.

But these commitments mean nothing without action, according to the panel.

“I think the biggest mistake we can possibly and often make, is that we will build it and they will come, and we often forget about ‘they’,” Health and Wellbeing Queensland chief executive Dr Robyn Littlewood said.

Fellow panellist chairman and chief executive at ASM Global Harvey Lister said that the events management and venue company was constantly adapting.

“It’s not just people in wheelchairs, we have people who get vertigo, people who may have someone with them who has Down syndrome, people with comfort animals [and those that] need quiet rooms, and we accommodate that.”

The Committee for Brisbane panel last week discussed the need to use the momentum from the Olympic and Paralympic Games to make the city more accessible

Universal design is obviously key to this accessibility, and will aid in the future proofing of the legacy of the Games. It involves creating an environment that can be easily accessed, comprehended, and utilised people of all ages, sizes, abilities, and disabilities.

“We’ve seen a major change even in the last 10 years to make sure we get that right.

“If you think about access generally, I’ve had a view for some time that walkability even in the CBD and to South Bank and Gabba precinct certainly needs a bit of focus to get it right.”

Brisbane has an opportunity to get it right and ensure the legacy of the Games continues in the built environment.

“There are a lot of cities in the world where you can’t fix this stuff, they’ve been there for thousands of years, think about Paris, its walkways and pathways, built without consideration [for accessibility].

“Brisbane is a younger city, there is so much work being done, the opportunity is there.

“I’m encouraged by the focus on that, and we as the Committee for Brisbane should advocate for the government to come with us to make those changes while we can.”

Article source: Queensland Property Investor

‘The type of house you probably don’t see too often’: beach home goes for suburb record price

A stylish and progressive home in prime position has sold for a suburb record price at Dicky Beach, as part of a rare swap deal.

No.10 Rooke St was sold for $4.8m after it attracted plenty of interest from local and interstate buyers.

The recently constructed home, built by Paul Currie, is less than 200m from the beach.

Ray White Pelican Waters sales and marketing consultant Jason Jaeger said the residence was ahead of its time.

“It’s a very modern home,” he said.

“It piqued a lot of interest because it’s brand new and it’s the type of house you probably don’t see too often.”

No.10 Rooke Street is ultra-modern.

“It’s one of the better homes around Dicky, Moffat and Shelly beaches.

“It’s incredibly presented – a big, beautiful home with four massive bedrooms and a big media room.

“Everything is handcrafted, like the gates at the front, and there is beautiful sandstone on the walls.

“The home has everything you could think of … there is some really good technology through the home. Everything can be operated by your phone.”

Mr Jaeger said the location was ideal.

“Dicky Beach is one of the most desired locations on the Sunshine Coast,” he said.

“And this property is only a block back from the beach and there are all the amenities around.”

The 607sqm property was sold as part of an uncommon swap deal.

The owners, who had only occupied it for six months, essentially agreed to swap the home for another local property, although settlement has yet to be reached on the other one.

No.10 Rooke Street was involved in a swap deal.

“We were able to negotiate the deal over a short period of time,” Mr Jaeger said.

“Both parties were really good to deal with and we were able to get it across in a nice way, without stress.”

Meanwhile, a property at prized Noosa Waters was sold for $6.83m.

No.17 The Promontory, designed by Paul Clout, boasts five bedrooms, four bathrooms and two car spaces.

The home wraps around a central heated pool and backs on to the waterfront and a u-shaped jetty.

Auction results

10 Kiri Court, Buderim

Sold Under the Hammer $855,000

4 Bed, 2 Bath, 2 Car

Define Property, Ross Cattle

15/57 Kingsford Smith Parade, Maroochydore

Passed In at $605,000

2 Bed, 2 Bath, 1 Car

Define Property, Ross Cattle

16 Woodswallow Crescent, Bli Bli

Sold for $850,000

4 Bed, 2 Bath, 2 Car

Define Property, Greg Turnbull

13 Greygum Court, Mooloolaba

Passed In – On the Market for $2,100,000

4 Bed, 2 Bath, 2 Car, Pool

Define Property Ross Cattle

316/21 Innovation Parkway, Birtinya

Sold for $580,000

2 Bed, 2 Bath, 1 Car

Ray White, Justin Wijaya

11 Lancewood Close, Buderim

Sold $911,000

3 Bed, 2 Bath, 2 Car

Ray White, Kylie Kis

11 Malinya Drive, Buddina

Passed for $1,300,000 – On the Market for $1,365,000

5 Bed, 2 Bath, 3 Car

Ray White, Ryan Bradeley

21/81 Birtinya Boulevard, Birtinya

Sold Under the Hammer for $605,000

2 Bed, 2 Bath, 2 Car

Ray White, Justin Wijaya

3/17 Amaroo Drive, Buderim

Sold Under the Hammer $1,155,000

2 Bed, 2.5 Bath, 2 Car

Ray White, Rob & Sally Horne

24A & 24B – 15 Shine Court, Birtinya

Passed In at $750,000 – On the Market for $770,000

3 Bed, 3 Bath, 2 Car

Ray White, Jake Farthing

51/110 Sixth Avenue, Maroochydore

Passed In at $700,000 – On the Market for offers over $729,000

2 Bed, 1 Bath, 1 Car

Ray White, Reuben Park

54/55 Sixth Avenue, Maroochydore

Passed In at $700,000 – On the Market for $759,000

2 Bed, 2 bath, 1 Car

Ray White

4/12 Sunrise Drive, Maroochydore

Sold Prior to Auction for $1,500,00

3 Bed, 2 Bath, 1 Car

Ray White, Rob & Sally Horne

63/101 Birtinya Boulevard, Birtinya

Sold for $426,000

1 Bed, 1 Bath, 1 Car

Ray White, Dan McNamara

Article source: Queensland Property Investor

Wednesday 26 April 2023

Best bar in Australia? It’s not in a restaurant but in a Gold Coast home

A property for sale in Queensland could rival a top-end restaurant with its bespoke bar.

The five-bedroom, four-bathroom mansion at 53 Gibsonville Street in Tallebudgera Valley on the Gold Coast, boasts a “supersized entertaining lounge” like no other.

Listed by Ed Cherry of Harcourts Coastal Palm Beach and John Fischer of PRD Real Estate Burleigh Heads, the property is expected to fetch a sum north of eight figures.

Called Dahlia Estate, the property is nestled amongst 5.4 acres of Gold Coast Hinterland and has entertaining at the forefront with its luxury inclusions.

53 Gibsonville Street, Tallebudgera Valley, Queensland

This mansion for sale on the Gold Coast boasts a bar that could rival a top-end restaurant in Australia. (Harcourts Coastal Palm Beach)

The sprawling alfresco terrace with its Venetian plaster bar and sleek polished concrete floor, is something you could find in a restaurant or in the pages of a glossy magazine.

There is more than enough space on the terrace to include a pool table, dining table and several lounges to relax and unwind in style.

Other standout design features include a resort-style pool that gives off a Palm Springs vibe, a tennis court with space for a helipad, as well as a sauna and outdoor gym.

Agent Ed Cherry tells Nine that most of the interest for the property comes from Melbourne and Sydney, with the home expected to fetch a sum north of eight figures.

There is also a resort-style pool that gives off a Palm Springs vibe. (Harcourts Coastal Palm Beach)

Interiors throughout the home are luxurious with white fossil limestone tiles, natural oak timber floorboards, bronze tapware in the bathrooms, plush wool carpet, and floor-to-ceiling glass to capture the idyllic hinterland views.

The floorplan also includes a wine cellar and a shed that could be transformed into a workshop or home office.

And for another touch of luxury, the buyer won’t have to worry about mowing the lawn again with the grounds “meticulously maintained by a team of robotic mowers”.

Tallebudgera Valley forms part of the Gold Coast Hinterland and is a short drive to Burleigh Heads and Palm Beach.

Four other properties for sale in Tallebudgera Valley, Queensland

30 Plaza Street

The five-bedroom, five-bathroom home features a spacious deck and resort-style pool. (Harcourts Coastal)

250 Tallebudgera Creek Road

The six-bedroom, three-bathroom home is set on 3.9 acres. (Black and Young Real Estate)

556 Tallebudgera Creek Road

The five-bedroom, two-bathroom home is described as a “Palm Springs-inspired oasis”. (PRD Real Estate Burleigh Heads)

72 Golden Valley Road

The four-bedroom, two-bathroom home offers “effortless living” in a serene setting. (Queensland Sotheby’s International Realty)

Article source: Queensland Property Investor

Morris Seizes ‘Window of Opportunity’ with Greenlit Gold Coast Dual Tower

A dual tower Gold Coast development has been given the green light at Broadbeach as prolific high-rise developer Barry Morris sniffs a window of opportunity amid challenging times.

Under the approved plans, Morris Property Group will deliver two residential towers rising 35 and 40 storeys on an amalgamated 2590sq m site at 9-15 Armrick Avenue.

The towers will comprise a total of 339 two and three-bedroom apartments—182 in the taller western tower and 157 in the eastern tower.

Morris told The Urban Developer the project would be staged “one tower at a time” and launched to the market in May.

He said that despite the tough conditions in the face of inflated construction costs, crippling labour shortages, economic uncertainty and interest rate hikes, there was still market demand.

“It’s not a walk in the park, let me put it that way,” Morris said.

“We’re aided by the fact that we’re a fully integrated business and we’ve been doing this for 45 years. We have our own construction teams. We have established relationships with subcontractors.

“I’m not suggesting for a moment that our construction prices haven’t gone up like everyone else’s but, you know, we’re running a marathon not a sprint.”

Morris said the increasing number of projects being mothballed or abandoned had created a “window of opportunity” for developers with the resources to keep their pipelines going.

▲ Render of the dual tower development approved for Armrick Avenue, Broadbeach.

“Our general view is the market has normalised and we’re back to pre-Covid type demand,” he said.

“Pricing has gone up representing the increase in construction costs.

“But the fact that a lot of projects won’t proceed, because people can’t find builders or theory projects don’t stack up because building prices are so high, does give those that are still in the market, and do have the resources to keep it going, a window of opportunity.”

Morris said construction was expected to begin in September-October and due to the size of the site and the project’s five basement levels “there’ll be a fair bit of time in the ground”.

“So while we’re doing that groundwork, we’ll be able to continue to be in the selling stage of the project.

“We’ll be in the ground for 12 months before we hit the podium level and we’ll keep going with the first tower. That’s over 18 months from now for sales and marketing so we think we’ll be well positioned.”

▲ Construction of Crest Broadbeach is expected to begin in September-October.

If all goes to plan, the first and tallest tower is expected to be completed by mid-2026 and the second by the end of 2027.

Each tower will have independent communal open space areas on level 1 with amenities such as swimming and wading pools, gymnasiums, indoor and outdoor lounges, barbecue facilities, yoga lawns and extensive perimeter landscaping for privacy.

As well, there will be a total of 408 basement carparking spaces and 143 bicycle spaces.

Morris Property secured the four-lot Armrick Avenue site across the road from the Broadbeach Bowls Club in two transactions—the first twin-title site for $8.8 million in 2021 and the second last year for $11 million from the Brisbane-based Turrisi Properties after the company pulled the pin on its Gold Coast debut.

Another dual tower development on Morris Property’s workbook also has been granted approval by the Gold Coast City Council for a 3035sq m site with frontage to Australia and Britannia avenues at Broadbeach.

It will comprise a 40-storey northern tower and 27-storey southern tower for a total of 348 apartments but Morris said it would follow the Armrick Avenue project.

Article source: Queensland Property Investor

Over $300M in sales across the east coast

In today’s wrap of east coast deals, Centuria Capital Group (ASX: CNI) secures premiums on Gold Coast and Sydney sales, a Smithfield property on Sammut Street sold for $4 million, and a Melburnian shopping centre is acquired for $300 million.

Centuria office and childcare sold

The ASX-200 listed company has sold a South Eveligh office for $18.25 million, and a Robina childcare for $8.8 million. The sale prices reflect 14% and 4.7% premiums, respectively, to the December 2022 book values.

The Belltower is located at 6 Cornwallis Street, South Eveleigh, New South Wales; Centuria noted contracts exchanged for the property on Friday 21 April. The 1,148-square-metre office building was originally built in 1887 as part of the Eveleigh Locomotive Workshop’s Manager Office.

In the early 2000s, it formed part of a wider regeneration masterplan, transforming the area into a technology precinct that is now occupied by the Commonwealth Bank, Channel 7, CSIRO’s Data61, Cicada Innovations, and the University of Sydney’s Institute of Agriculture and School of Life and Environmental Sciences.

The Robina childcare centre is operated by Papilio Early Learning and Kindergarten and sold at auction at the end of March. Located at 60 Investigator Drive, the property sold at a 21% premium to its 2020 price, according to Centuria. The company said the property is 100% occupied on a net lease term, with CPI-linked positive rent reviews and has a 12.8-year WALE.

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The childcare property is within the masterplanned Robina Health Precinct, benefitting from the Robina Hospital and Robina Town Centre’s retail and leisure precinct. It is also part of the southwest Gold Coast’s desirable school catchment being 80 metres from the Robina State High School and within proximity to other private and public schools.

Both assets were bought by private investors.

Knight Frank’s Jonathan Vaughan and Tim Holtsbaum and Karbon Property Josh Watts and James McCourt were the appointed sales agents for The Belltower. Burgess Rawson’s Natalie Couper was the auctioneer for the Robina childcare.

Sammut Street property acquired for $4M

An owner-occupier specialising in powder coating and fabrication has purchased an industrial warehouse in Smithfield to relocate its current operations.

Located at 8 Sammut Street, Smithfield, the propery sold for $3,950,000, representing a sales rate of $4,876 per sqm on a building of 810sqm and a large land area of 1,398sqm.

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CBRE’s Janet Joljian brokered the deal via Private Treaty.

“This is the second property CBRE has sold on Sammut Street within the last six months, highlighting that demand for industrial space is increasing,” said Jolijan.

“The purchaser was attracted to the building due to its functionality, dual access and freestanding nature as well as the investment opportunity which the property presented, by having a short-term lease in place.”

Melbourne shopping centre sold

The Craigieburn Central shopping centre has been acquired by IP Generation from LendLease’s Australian Prime Property Fund (APPF) and co-owner Lendlease Group for $300 million, before transaction costs and settlement adjustments; APPF Retail held a 75% interest in the Centre, with Lendlease Group holding a 25% interest.

Craigieburn Central has taken the crown from Grand Plaza Shopping Centre in Brisbane as the most competitive outcome for a regional shopping centre; CBRE sold Grand Plaza to EG Funds on behalf of Invesco in early 2022.

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Simon Rooney, CBRE’s Head of Retail Capital Markets, Pacific, negotiated the Craigieburn sale on behalf of the vendors, representing the largest retail transaction in Victoria since 2018 and nationally since December 2021.

“The sale was a highly competitive pricing outcome for APPF Retail and Lendlease, simply reflective of the attractive inherent, long term and deep value fundamentals Craigieburn Central offers, valued accordingly by proactive private capital that dominates the retail investment landscape across Australia at present,” said Rooney.

“The retail sector is set to benefit from migration, resilient spend in the face of already high interest rates and very low new supply in the market after a period of under-investment in the sector,” added Rooney.

Article source: Queensland Property Investor

‘Priced out of their own cities’: Qld property to be hot for years

Queensland remains a top destination for house hunters despite skyrocketing rents and prices, with a survey finding 15 per cent of Aussies are considering moving to the state in three to five years.

A YouGov survey has found almost half of respondents who were still motivated to move to Queensland said it had better weather conditions (48 per cent) and overall quality of life (47 per cent), with the Gold Coast top of the list as a destination for 40 per cent of them.

PropTrack senior data analyst Karen Dellow said search data on realestate.com.au had picked up an annual rise in rental enquiries from interstate, despite buy searches dropping off.

“Queensland remains a popular destination amongst interstate searchers, in particular those looking to rent,” she said. “Searches for rental properties in the Sunshine State are up 2 per cent year-on-year. At the same time, interstate property seekers looking to buy have backed off slightly and searches are down 9 per cent.”

“A higher proportion of property seekers from Victoria are looking to buy in Queensland rather than rent. The reverse is true for New South Wales, where 55 per cent of all searches into Queensland are for rental properties. The number of New South Wales searches for those looking to buy is slightly lower, comprising 51 per cent of searches.”

Future Olympic city Brisbane is third most popular for the biggest chunk of overseas househunters who are coming out of New Zealand.

This comes as PropTrack also found international searches for Australian property surging to record levels, up 34 per cent on pre-pandemic levels (2019) in the past three months, as migration hits its highest level in three years.

“New Zealand property seekers remain the number one fan of Aussie homes, with rent searches up 37.5 per cent on this time last year and searches to buy up 8.8 per cent,” Ms Dellow said, with the Gold Coast their most popular target, followed by Melbourne and Greater Brisbane.

Latest Australian Bureau of Statistics data has Queensland showing the highest annual population growth rate in the country – up 2.2 per cent to 5.35m people in September.

KPMG urban economist Terry Rawnsley said population growth had “definitely returned to that pre Covid trend with international migration opening up, but also it’s still pretty attractive for interstate migration and that comes down to housing affordability”.

“Queensland is still relatively more affordable than Sydney and Melbourne,” he said, backed by a “strong lifestyle attraction” and a very strong labour market.

“Unemployment rates across the state are at a very low level, job vacancies are very high, so there are a lot of people being pulled into Queensland from other parts of the country.”

Villawood Properties Queensland GM Michael Williams said demand remains strong from out of state buyers, including those priced out of markets interstate or “interstate regional relocators wanting to escape the rat race”.

“We are still experiencing strong enquiry from interstate buyers, particularly those who have been priced out of the market in their own cities.”

Mr Williams said affordability was driving much of the out of state queries, “however, lifestyle is proving to be a key driver for many of our interstate purchasers looking for a tree change”.

“We have seen unprecedented demand for land over the past two and a half years, and land supply is as tight as we have ever seen it in South East Queensland. It is getting increasingly more challenging for people to find land in growth areas to build on, particularly lots large enough to accommodate a large family home.”

“Not only is land supply tightening but land values have skyrocketed and it’s priced many people out of the market.”

Little Hinges has found 30 per cent of buyer inspections for Sunshine Coast properties were coming from outside Queensland.

Little Hinges CMO, Mike York, said his latest Sight Unseen Report, out Thursday, found almost one in four inspections were coming outside the state the property is located in.

On the Gold Coast, 37 per cent of buyer inspections were from outside the state, with that figure at 30 per cent for the Sunshine Coast, he said.

“With March being the first month we’ve seen interest rates stay on hold after nine consecutive rate rises, we may see inspection trends bounce back in April, or this may be the new normal for the foreseeable future.”

Article source: Queensland Property Investor

New heaters keep hydrotherapy and wellness all year round

Ipswich residents keen to get back into the pool this winter will enjoy warmer water at Georgie Conway Leichhardt Community Swim Centre after new electric heaters were switched on Friday 14 April.

Last year council committed to replacing the inefficient gas heaters and upping the water temperature in the pool from 29 to 32 degrees, the ideal temperature for hydrotherapy.

Growth, Infrastructure and Waste Committee Chair Ipswich Mayor Teresa Harding said it was good news that the heaters were operational in time for the colder months.

“I’m delighted that the 25-metre outdoor swimming pool is ready for water therapy patrons and swimmers to keep warm and active through the colder months,” Mayor Harding said.

“After such strong feedback from the community about the importance of having the pool heated to 32 degrees, we’re pleased to see this commitment met.

“The 25-metre pool will reopen 14 April, and the water temperature will gradually increase to the full 32 degrees within the coming days.”

Council committed to transitioning from gas to electric heaters at the swim centre last year, after feedback that many users felt the water temperature was too cool.

Growth, Infrastructure and Waste Committee Deputy Chairperson Councillor Paul Tully said while the new electric heaters had been installed in December, there had been a longer wait than expected for utility provider Energex to reconnect the power supply to the new electric circuit board.

“The electric heaters have replaced the less efficient gas heaters and will allow the 25m outdoor pool temperature to be consistently maintained at 32 degrees,” Cr Tully said.

“This is the optimum temperature for water therapy. Council understood how important this was for residents who rely on water therapy for personal health and fitness.”

Concerns about the pool temperature were first raised by local resident Mr Ken Alderton, who presented a case to council to increase the winter pool temperature from 29 to 32 degrees.

More than 200 contributions were made to a public survey on the pool’s temperature, with more than half of respondents saying they visited the pool for personal fitness (54 per cent) and 44 per cent visiting weekly.

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Division 3 Councillor Andrew Fechner said it was welcome news that after several delays, the heaters were now switched on.

“Residents told us they needed the pool water temperature warmer during winter so they could continue their important therapy classes, and enjoy their time in the pool,” Cr Fechner said.

“This is a great outcome from council’s community consultation and we hope that residents enjoy the warmer water temperature during winter.”

Division 3 Councillor Marnie Doyle thanked residents for their patience while Energex completed the power connection.

“With the upgrade now finally complete, we again thank residents for their patience during this unexpectedly long process,” Cr Doyle said.

“This has been a great opportunity for Cr Fechner and I to work with the community, advocate on their behalf within council and secure a good outcome for those who rely on this pool.

“We are pleased to have met the needs of residents.”

The Georgie Conway Leichhardt Community Swim Centre is on Toongarra Road, Leichhardt.

Article source: Queensland Property Investor

Tuesday 25 April 2023

Supply shortage pushes Brisbane office rents up

Office market rents continued to rise in Brisbane during the first quarter of 2023 according to Cushman & Wakefield’s latest quarterly Office Marketbeat; this is in line with the trend observed across most of Australia’s major CBD office markets.

The Office Marketbeat revealed that a shortage of supply and the rapid increase in inflation have led to a rise in gross face rents across all grades of office spaces in Brisbane’s CBD.

Premium gross face rents swelled by 2.1% during Q1 2023, rising from $965 per square metre to $985 per square metre .

This contributed to a 10.2% yearly rise in prime gross effective rents, the most substantial increase among all states

Over the quarter, A-grade gross face rents increased by 3.6% on average to reach $775 per sqm per annum, while B-grade gross face rents increased by 3.9% over the quarter, averaging $660 per square metre per annum.

Gross incentives have remained steady across Brisbane’s CBD during Q1 2023, following an increase in Q3 2022.

Prime gross effective rent & vacancy (6 monthly)

Source: PCA; Cushman & Wakefield Research

Cushman & Wakefield’s Research Manager, Queensland, Jake McKinnon, says there is a clear trend of growing demand in most CBD locations across Australia.

“Premium buildings and inflationary conditions [are] pushing rents higher.”

Supply pipeline

The Office Marketbeat estimates that there is currently around 90,000 square metres of office space under construction in Brisbane, but no new supply is expected to be added in 2023.

The development at 205 North Quay, spanning across 45,000 square metres, has been completely committed and is currently under construction, with delivery expected in 2024.

360 Queen is expected to be completed in the first half of 2025, and at present, it has around 60% of pre-commitments.

Dexus‘ Waterfront Brisbane development is nearing the start of construction, with completion expected in 2027.

Supply pipeline: new developments & major refurbs

Source: Cushman & Wakefield Research; PCA

Given the limited supply of office spaces expected to come to market over the next three years, the Office Marketbeat predicts the tightening vacancy will persist, leading to a rise in rents.

Article source: Queensland Property Investor

‘Efficiency, affordability and sustainability’: innovator presents flat-pack home idea to industry experts

A Sunshine Coast innovator has presented his flat-pack granny flat offering to an event that brings together the brightest minds in business, innovation and government.

Wolfgang Schulte was invited to speak at the 2023 BiiG Conference in Brisbane, with his flat-pack concept recognised as an innovative solution to the current housing crisis.

The BIIG Conference brings together industry experts with the aim of creating a better future for Queensland, with this year’s theme being ‘innovation everywhere, impact for all’.

Mr Schulte said he spoke about the current housing crisis on both the Sunshine Coast and across the state, and how his affordable flat-pack houses are a practical solution to increase supply.

The Timber Garden Cabins come in different sizes.

“The Sunshine Coast is in a housing and rental crisis right now and the community needs fast, quality solutions to achieve more housing supply to stop more people becoming homeless,” he said.

“Using pre-fabricated components with our flat-pack design, we can reduce installation time and costs compared to traditional construction methods, and using timber as the primary building material has environmental benefits as well, such as reducing the carbon footprint of the construction process.

“Our solution offers a unique combination of efficiency, affordability and sustainability.”

Mr Schulte says his Timber Garden Cabins, which come in different sizes, can be used as granny flats by homeowners with the yard space, and he’s also exploring options to create urban villages with 20-70 cabins on currently vacant land.

“Previously, people may not have thought of this as a solution to the housing problem as there were restrictions around renting out a granny flat, but legislation changed late last year enabling homeowners to rent out secondary dwellings on their property, such as granny flats, to anyone,” he said.

“Of course there are rules and regulations around adding a second dwelling to your home depending on where you live and your block size, but for people who want to create positive change in the community and gain some extra income yet don’t have the funds to buy a whole investment property, this is the perfect solution.”

Depending on trade availability and shipping, it is usually a four- to five-month turnaround to install a Timber Garden Cabin, with prices starting from $130,000 for a two-bedroom design.

“It is more important than ever that we all work together to think of solutions and I am proud our product has recently been recognised for its innovation at a statewide level,” Mr Schulte said.

Article source: Queensland Property Investor

Developer Files New Tower Plans for Brisbane City-Fringe Stomping Ground

“The curve is more powerful than the sword.”

While legendary Hollywood actress Mae West—famed for her witty innuendos—wasn’t talking about tower developments, it seems from newly filed plans that Aria Property Group would agree.

The Queensland-based developer, led by Tim Forrester, has proposed a 30-storey tower comprising 256 apartments in its inner-city stomping ground of South Brisbane.

It follows the completion of its nearby 31-storey The Standard—a tower with 264 apartments featuring Australia’s largest green wall.

Both tower developments comprise sculptural curved built forms designed by architects Woods Bagot.

Earmarked for a 1822sq m site at 10-12 Cordelia Street—a short walk from the Fish Lane restaurant, bar and cafe preicnct—Aria’s new tower proposal would include a mix of one, two, three and four-bedroom apartments.

“The proposed tower comprises eight cylindrical forms bundled into a singular tower, capped with an iconic crown profile that appears like a chandelier in the city skyline,” a design statement said.

“A key design strategy is to stitch the landscape, architecture and art into a singular sculptural built form.”

It also integrates Aria’s penchant for green walls, sleeving the building’s podium facade, with brick finishes throughout the ground plane referencing South Brisbane’s rich character and heritage.