Offices trump work from home, and other Queensland commercial news

Offices are making a strong come back on the Gold Coast as vacancy rates hit a new low. Queensland is also seeing new opportunities emerge with a mid-range eco-tourism site hitting the market just outside of Brisbane. Leasing activity for industrial also remains strong.

Gold Coast office vacancies lowest in 14 years

The 2023 Gold Coast Market report by Colliers has found that “work from home” (WFH) could be dead, as office demand rises and vacancy rates drop.

Colliers International Gold Coast Director Bede Blatchford said that a drastic increase in remote working and a decline in demand for office spaces was one significant effect of the Covid-19 pandemic.

“As a result of the pandemic, we certainly saw an increase in remote working; however, fast forward to three years since the start of lockdowns, and we are once again witnessing strong demand for office vacancy,” said Mr Blatchford.

“With a total vacancy of 27,467 sqm out of 454,149 sqm of total stock, the Gold Coast office vacancy rate declined to 6.0% in January – its lowest level in 14 years.

“The market is expected to remain competitive in 2023, with vacancies expected to continue to decline due to strong market fundamentals, a constrained supply pipeline and people returning to the workplace.”

SME’s seem to be buoying the Gold Coast market, with recent leasing activity strong in the sub-400 square metre market.

Exceed Capital took its 154 Varisty Parade property in Varsity Lakes to just three per cent vacancy, down from 45% when the company acquired the property in April 2021. Exceed also invested in a $2.5 million refurbishment of the property.

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154 Varsity Parade. Image: Supplied.

To meet demand, Exceed Capital took a large single-floor vacancy of 1,100 sqm and split it into four tenancies, with new leases recently secured for all of them.

Blatchford said: “The strategy has revealed the depth of the Gold Coast office market for sub-400sqm occupiers.”

“Gold Coast is predominately made up of small to medium occupiers as opposed to the level of corporates in CBD markets. This sector accounts for most Gold Coast office demand which is currently driving a tightening of vacancies across the city’s key office precincts.

“It’s been the resilience of the SME-occupier sector that is supporting the local office market, and that is leading to a tightening of the overall vacancy rate.”

Eco-tourism site on the market

Located at 15 Lefthand Branch Road about an hour and a half west of Brisbane, the 2,165 square metre property that is set over 19 individual titles is up for sale.

The site is self-sufficient in water supply with five bores powered by solar across the property and graded tracks for transport. The property also includes a three-bedroom homestead, cattle yards, a four-bay shed, workshop and hay shed.

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The Mount Sylvia property offers an opportunity to create a mid-ranged, affordable eco-tourism destination. Image: Supplied.

Mount Haldon Station in Mount Sylvia is a biodiverse site, with CBRE’s Edward O’Dwyer noting:

“Due to the location and the peak elevation of Mount Haldon, there are a number of avenues investors can explore in regard to renewable energy or capitalising on biodiversity from an ecotourism and conservation perspective,” Mr O’Dwyer said.

“With different terrain across the property, distinct areas could also be maximised for differing uses and revenue streams such as public programs for camping, eco-cabins, horse riding and private events.”

“There is a gap in the marketplace for mid-range, affordable eco-tourism in regional locations and with the number of tourists to Queensland climbing and significant growth predicted for Southeast Queensland. The demand for nearby regional escapes will continue to increase.”

Industrial leasing activity

Frasers Property Industrial has announced leasing across Queensland, with the latest including 13,165 square metres leased to truck design and manufacturer Paccar Australia.

The property is located at 103-131 Wayne Goss Drive in Berrinba, some half an hour south of Brisbane.

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103-131 Wayne Goss Drive, Berrinba. Image: Supplied.

Paccar Australia will increase its footprint by relocating to the larger facility adjacent to its current premises in September 2023. The new facility extends to 13,165 square metres and includes a super awning for all-weather loading, as well as a solar system installation.

Frasers has also leased 15,186 square metres to packaging manufacturer, distributor, and visual communications company Orora Limited. The high-clearance warehouse will be used to store packaging items manufactured in Orora’s neighbouring facility. The premises features full drive around access and extensive awning area.

Ian Barter, Managing Director Australia at Frasers Property Industrial said: “As demand for high-quality facilities in key … Queensland corridors continues, our strong customer service and premium offerings are highly sort after by both existing and new customers.

“Our industrial assets in strategic locations have been crucial to our ability to secure deals with major national brands and long-term customers. We continue to have strong leasing activity and our portfolio continues to be 100% occupied”.

Article source: Queensland Property Investor

Kokoda release luxury penthouse collection in The Ambrose, Milton following completion

Kokoda Property Group are set to launch the penthouses crowning their recently completed $165 million Milton apartment development, The Ambrose.

Four penthouses will be released to the market, following the successful completion of the project, which comprises 174 apartments and two retail spaces.

Over 95 per cent of the apartments have sold since the project launched in early 2021.

There will be three three-bedroom penthouses on offer, as well as a four-bedroom penthouse which will have its own au-pair residence. 

Each will benefit from direct lift access, with the floorplans ranging from 152 sqm up to an expansive 326 sqm. The apartments range from $2.5 million to $7 million.

The largest of the penthouses features a complete built-in one-bedroom private residence perfect for young adult children, au-pair or intergenerational living arrangements.

The penthouses will have floor-to-ceiling windows to allow maximum natural light while also providing panoramic views to Brisbane’s city skyline and river.

The kitchens are the cornerstone of each home, featuring natural stone benchtops, complete with premium Miele appliances including induction cooktops, pyrolytic ovens, microwaves, dishwashers and integrated Liebherr fridge and freezers. 

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Inside a penthouse at The Ambrose.

The bathrooms, bedrooms and living areas all feature curved walls, allowing spaces to flow freely from one to the next, while vertical texturing is used throughout the kitchen, bathrooms and master bedrooms.

Kokoda Property Group Founder and Managing Director Mark Stevens said demand far outweighs supply for new apartments within Milton and its surrounds.

“The Ambrose is the first development in a long time to be completed at such a scale. While there are a few projects in planning in neighbouring suburbs, competition and supply are limited for a product of this quality,” Stevens said.

“The Ambrose in particular is highly sought after due to Kokoda bringing its Melbourne flair to the design and with larger apartments being very desirable, we don’t expect these penthouses to sit on the market long.”

“Out of all the capital cities, Brisbane has the strongest fundamentals for growth over the coming years. This is driven by interstate migration and the fact that Brisbane has changed so much in the past five years – it is becoming more of a destination city for both owner-occupiers and investors,” he added.

Located on McDougall Street and reaching 19-storeys high, The Ambrose comprises a mix of one, two and three-bedroom apartments and four penthouses, all offering 360-degree views of Brisbane’s CBD, Brisbane River and Mount Coo-tha.

Residents have access to a concierge, health and wellness centre, private dining and a rooftop deck with an infinity pool with views of the Brisbane CBD.

Architects Cottee Parker made the simple yet sculptural staircase within the lobby a true design feature in The Ambrose, which presents a calming entry sequence on arrival and provides a key linking piece that emulates the organic curves of the building.

Externally, the design of The Ambrose embraces metallic fins wrapping the facade to provide shade and textural contrast, while living greenery weaves up the full height of the tower, naturally anchoring the building to its subtropical landscape. 

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The Ambrose
19 – 23 McDougall Street, Milton QLD 4064

Stevens said the vision for The Ambrose was to create an iconic project for Milton.

“Milton is a highly developed and corporate location. Our vision was to create something truly unique for the area that would stand out amongst other buildings. Through its design and resident amenity, The Ambrose has lifted the standard of living in Milton”

“Now, the penthouse will set a new standard for the suburb. They are unlike anything this suburb has seen and we’re excited to bring them to market,” he said.

A site steeped in history, The Ambrose is named after esteemed Brisbane chemist and experimental farmer Ambrose Eldridge, who originally purchased the land in 1851.

Article source: Queensland Property Investor

Cheaper ‘suburbs which may have a bad rap’ now hot for investors

Where others can’t look past crime or rundown housing, Justin Picker sees solid potential, which is why nine of his 15 properties are in cheaper outer Brisbane suburbs primed for gentrification.

Mr Picker’s current Greater Brisbane portfolio includes Woodridge – ranked the second cheapest suburb to buy a house in the middle ring – as well as parts of Caboolture, Logan, and Ipswich.

He loves “that kind of Logan Beenleigh area, suburbs which may have a bad rap”.

“Some of those properties I probably wouldn’t live in myself personally but they are fantastic investments. There are plenty of tenants who need a roof over their head and it’s a very central location. I do believe that over time, these areas will gentrify.”

“Most of them are within 45 to 50 minutes of the Brisbane CBD. You want to be in these areas that are sustainable, which you know are going through gentrification and also close to amenities.”

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Picker Financial Solutions director Justin Picker, 30, has 10 of his 15 properties in Queensland.

“A really good thing about that South East Queensland corridor is the amount of amenities in shops, schools, shopping centres, train lines, all those essentials are in very close proximity compared to somewhere like Sydney where it’s just crazy and you pay a ridiculous amount.”

Mr Picker said properties in cheaper suburbs could hold upwards of 6 per cent rental return, a solid number in a time of rising rates.

“This is where having a high yield is very, very important to ensure that it’s covering your expenses, 6-9 per cent yield would always be good if you bought these properties for sale at $150,000 to $300,000.”

Mr Picker said the only way for prices in Brisbane was up given everything it had coming in the next decade.

“When we think of Brisbane being on the international stage in nine years’ time for the Olympics, there’s strong value that you’re getting for those properties being so close to something like that,” he said.

“The projects and government spending that’s going to have to go into that area, as well as the interstate migration from Sydney and Melbourne, with the affordability there now, I do believe that the only way really is up.”

Article source: Queensland Property Investor

The cheapest homes in the most sought-after sea change hotspots

Is this the cheapest house for sale in the Noosa region?

The unassuming three-bedroom brick house at 17 Jacaranda Place is in Tewantin, just west of its better-known neighbours Noosaville and Noosa Heads, and is for sale for offers over $749,000.

House prices are still well into seven-figure territory in some of the most popular sea change towns after the pandemic property boom and slowdown, but a handful of entry-level options remain.

Looking further afield from the main drag can reveal affordable options, but bargain hunters may find some are cheap for a reason.

Noosa Shire’s median house price was $1.25 million in the December quarter, on Domain data, making it the fourth most expensive regional property market in the country.

It was topped by the Byron Shire at $1.49 million, Kiama on the NSW South Coast at $1.435 million and Victoria’s Surf Coast at $1.43 million.

Sea changers can spend millions on top-end beach homes, but the “absolute entry level” in Noosa is the brick home in Tewantin that would suit a first home buyer or investor, selling agent Luke Burton of Harcourts Property Centre Noosa said.

Interest at that price point has been strong, and the home was under contract at the time of writing, though a further three parties had made offers in case the first fell through.

“Tewantin has had a huge pick-up in the suburb itself over the last couple of years,” he said. “It is like the ripple effect of Noosa Heads, Noosaville, Noosa Waters has priced a lot of people out.”

He said the neighbourhood is away from the hustle and bustle of the main strip but close enough to offer an easy drive to shopping, beaches and national parks.

Another three-bedder in the suburb is listed with price hopes of the high $700,000s to $800,000.

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66 Griffith Avenue, Tewantin QLD 4565

The listing agent for the tenanted home at 66 Griffith Avenue, Alex Harris of Noosa4Sale, said potential buyers did not always realise there are affordable options in the shire after reading reports of $30 million-plus sales.

“People start to turn off Noosa thinking it is too expensive,” she said. “From $900,000 to $1.5 million you still get a really nice home.”

Harris said the sense of buyer urgency has dissipated since the boom, meaning some properties are priced $100,000 to $200,000 below what they may have been a year ago.

She is still fielding enquiry from sea changers but said there are many local buyers in the market now.

Further south, prices in the Byron region have been affected by last year’s floods and a slowdown in sea change activity after lockdowns.

The cheapest house for sale there is a three bedder in Mullumbimby, guided at $725,000 to $795,000.

The entry-level property at 35B Argyle Street was affected by floods but has been renovated since, First National Byron Bay selling agent Denzil Lloyd said.

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35B Argyle Street, Mullumbimby NSW 2482

He said market activity in flood-affected towns was somewhat subdued, but homeowners are looking at permanent solutions such as raising houses in some cases.

On the NSW South Coast, a deceased estate in Kiama has no price guide, but owners may be hard-pressed to find somewhere cheaper in the town.

The home on the 809-square-metre block at 39 Noorinan Street could be renovated, knocked down and rebuilt, or turned into a duplex, depending on council approval.

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39 Noorinan Street, Kiama NSW 2533

Ray White Kiama’s Melinda Budd said it was a rare listing for the area, as most properties in Kiama had been renovated or maintained.

“At the moment there is a lack of property on the market. Properties at the entry level are still selling very well.”

On Victoria’s Surf Coast, buyers can expect to pay upwards of $4 million for their dream beach home.

But the cheapest listing on the coast is the three-bedder at 20 Dupree Street in Torquay, with a price guide of $900,000 to $950,000.

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20 Dupree Street, Torquay VIC 3228

First home buyers make up most of the interest for entry-level homes now, rather than investors, Chris Henson of One Agency Surf Coast said, and about three in 10 buyers are from Melbourne – only down from four in 10 at the market peak.

But there are more homes for sale in the $1 million to $1.2 million mark than there was a year ago, giving buyers more choice, he said.

“We have seen prices soften slightly in the newer areas, newer estates,” he said, but added that in Old Torquay, “prices have held pretty steady”.

Further inland, the town of Winchelsea, part of the Surf Coast council area, offers a lower price point.

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46A Willis Street, Winchelsea VIC 3241

A new three-bedroom home at 46A Willis Street, about a 30-minute drive from the coast, has a price guide of $490,000 to $539,000.

Article source: Queensland Property Investor

Five key questions to ask before leasing an office

When hunting for a new office, there’s a slew of basic questions you need to ask before signing on the dotted line. Are there any hidden costs? Is there enough parking? Will the rent increase? Is the location suitable?

But as the workplace evolves, there are some often-forgotten things tenants should consider asking their leasing consultant or leasing agent.

So, before investing in new plants and swivel chairs, here are five of the top questions to tick off.

1. Does your lease give you room to grow – or shrink?

The size of your organisation is likely to change over time, so your office space may need to as well, says Michael Greene, head of tenant representation at JLL.

“An important question to ask is, does the lease allow for the expansion or contraction of your space?” he says.

“Instead of being stuck down the track with a large amount of space, or not enough, landlords are increasingly coming to the party and offering more flexibility.

“Landlords can offer a third space, such as project spaces and town-hall spaces, that you can add on or take off during the term of the lease.”

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Consider the green credentials of the building you are eyeing. Photo: iStock

2. Going green: Will the building accommodate your environmental targets?

If you are looking to reduce your environmental footprint or even go carbon neutral, you’ll need to investigate the green credentials of the building you are eyeing.

“This is an area that’s really coming into its own, as organisations increasingly commit to being more sustainable,” Greene says. “But it’s something that’s not always dealt with before a lease is signed.”

A landlord and tenant can sign a “green lease”, which aims to minimise environmental impact in areas such as waste and recycling, and commit to sourcing renewable energy.

Research by JLL found that sharing data on energy, water and waste, and energy-efficient fit-outs were among the most popular inclusions.

3. Are there existing wellbeing programs and employee perks available in the building?

In a talent-starved employment market, an attractive workplace with extra benefits such as wellness programs can make all the difference in retaining and recruiting staff. Greene says it can be particularly beneficial for smaller businesses to leverage existing offerings in a building, saving time and money.

“This is all about getting people back to the office – the big question for employers at the moment,” he says.

“A lot of landlords now are taking a holistic approach and have already set up things like exercise classes, yoga and mindfulness programs, and offer them to all tenants in the building.

“For small to medium-size businesses, this means they don’t have to expend the time and resources to organise classes themselves.”

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Ask who the other tenants are to avoid uncomfortable situations in the lift. Photo: Greg Briggs

4. In a post-lockdown world, do you still need a wow factor to impress your clients?

As the workplace adjusts to a new normal as we move out of the COVID-19 crisis, tenants may need to rethink their needs.

Is it crucial to have a swanky reception area, stunning waterfront views or a grand boardroom if most of your client meetings have moved online?

Some companies no longer have a receptionist stationed behind the desk all day, experts say.

In another sign of the changing times, kitchens are being built at the front of the office now, with the regular flow of staff allowing a presence for any visitors.

But if you still regularly host clients in the office, there are many ways to wow them, such as an outdoor deck or rooftop.

“An office with a view is certainly hotly sought after, but those buildings that don’t, usually have more emphasis on the fit-out, amenity, retail, bars,” says Tim Molchanoff, Cushman & Wakefield’s head of office leasing.

5. Do you know who your potential neighbours are?

Make sure you ask who the other business tenants are to avoid uncomfortable situations in the lift, unwanted disruptions from a noisy neighbour or even having your direct competition in the next office.

“When you begin looking, ask the question, are we happy to be in a building with other companies in our industry?” Molchanoff says.

“In some instances, firms will negotiate non-compete clauses into their leases, whereby other businesses of the same nature are forbidden from taking space within the same building.”

Equally, you might be able to benefit from your neighbours, particularly for B2B businesses. Molchanoff says that, for some companies, there are opportunities in being surrounded by potential or existing clients.

Article source: Queensland Property Investor

Qld’s build-to-rent bid could solve rental crisis for good: Developer

Queensland’s build-to-rent model could permanently solve chronic rental shortfalls in not just inner Brisbane but across the state if applied right, says a developer building hundreds of homes.

KDL Property Group managing director Kent Leicester – who has four residential communities under construction in Moreton Bay and Logan Reserve – said his firm alone could add 150 houses a year for families in new build-to-rent communities if structured correctly.

He said there was no question that detached houses in outer suburban communities would need to be a part of the build-to-rent solution if chronic rental supply shortages were to be truly addressed.

“I strongly believe that if we get this model right, over the next five to 10 years, we should be moving towards multiple well established build-to-rent communities built around outer suburbs and managed really well like they are overseas.”

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Mr Leicester currently has four communities under development in Moreton Bay and Logan Reserve. Picture: Liam Kidston.

He said such communities would go a long way towards easing chronic rental shortfalls.

“Right now we’re trying to find the immediate solutions, working with developers who have land ready and builders who can build homes now, so we can have this affordable housing available now for the people that need it. But we also need to make sure we are planning for the future so that we can solve this problem permanently, over time with well established build-to-rent communities.”

He said developers would need a lot more information on how the program would be applied.

“We’re looking at a different product with these single family rental communities in outer suburbs that are more greenfield sites,” he said. “We can build those same communities but what qualifies as a build-to-rent project we need clarification on.”

Three developments are currently in the Palaszczuk Government’s Build-to-Rent Pilot Program – all inner city Brisbane in Newstead, Fortitude Valley and the CBD which are set to add 1,200 new dwellings of which 490 will have discounted rent.

“We’ve got a lot of land around at the moment that we could certainly allocate towards these build-to-rent projects,” Mr Leicester said. “We need more clarity on what qualifies for a build-to-rent product in the detached houses space. That will help us understand whether this qualifies for us. I believe it should do, and I hope it does, but we need more clarity on that.”

He said correct planning with council and government “right from the beginning” would ensure that variation of housing product is delivered in build-to-rent areas.

“Detached housing is not always a four bedroom home,” he said. “It could be a three bedroom home, a two-bedroom unit, a granny flat and a duplex style. There are lots of different style of products from one bedroom up to four or five bedroom homes, which can be in these areas.”

Article source: Queensland Property Investor

Plans Filed for Cold Storage Facility in Brisbane’s West

Investment in the refrigerated logistics sector is continuing to heat up with plans filed for a sprawling cold storage facility at Wacol in Brisbane’s western corridor.

The proposal lodged with the Brisbane City Council by Moco Food Services comprises an 18,423sq m two-storey office-warehouse.

It is earmarked for a 42,345sq m lot at 55 Barracks Road with a 250m frontage to the Ipswich Motorway.

Moco Food Services, formerly Queensland Frozen Food Services, is a family-owned and operated food distribution company that was established in 1961. It has a product offering of more than 6000 lines and services an expanding customer base across the Sunshine State and northern NSW.

According to planning documents, the proposed Wacol cold storage facility would comprise 2366sq m of office space and a 16,057sq m warehouse—including chiller and freezer space as well as meat processing area.

It would also include 17,890sq m of dedicated hardstand and 5166sq m for 189 onsite carparking spaces.

Landscaping would be undertaken across 4642sq m or 11 per cent of the site to “ensure a positive visual amenity and softening of hardstand areas”.

The town planning assessment deemed the development consistent with the current strategic intent of the site under the council’s city plan.

“The proposed warehouse facility is consistent with the established industrial area and as such will not adversely impact on adjoining properties,” it said.

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▲ Aerial view of the site earmarked for the proposed cold storage facility at Wacol.

According to planning documents, the proposed Wacol cold storage facility would comprise 2366sq m of office space and a 16,057sq m warehouse—including chiller and freezer space as well as meat processing area.

It would also include 17,890sq m of dedicated hardstand and 5166sq m for 189 onsite carparking spaces.

Landscaping would be undertaken across 4642sq m or 11 per cent of the site to “ensure a positive visual amenity and softening of hardstand areas”.

The town planning assessment deemed the development consistent with the current strategic intent of the site under the council’s city plan.

“The proposed warehouse facility is consistent with the established industrial area and as such will not adversely impact on adjoining properties,” it said.

Article source: Queensland Property Investor

Ronnie Tarabay’s Next Property Play in Brisbane

Plans for a 200-apartment project at Windsor have been filed with the Brisbane City Council on the former site of a Denmac car yard.

The 4213sq m site is being developed by Dubai Group, which acquired it for $9.5 million in August of 2022.

Dubai Group managing director Ronnie Tarabay is also managing director of Bekaa Group, which developed La Vida on Commercial Road at Newstead, and owner of Burleigh’s iconic Fish House restaurant.

The Ellivo Architects-designed project is a 13-storey, two-tower residential development proposed for the inner-city site that would capitalise on “access to essential services, key transport and critical care infrastructure”, according to Place Design Group’s town planning report.

The project would comprise 212 apartments, and could tap into the local health-worker demographic with its proximity to the Royal Brisbane and Women’s Hospital at Herston.

“The development is an elegant form of architecture promoting sustainability, and providing for and delivering much needed housing supply through an appropriate product mix and layout in an inner-city location,” the report said.

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▲ The two-tower residential development sits atop a shared two-storey podium.

“The development directly responds to Brisbane City Council’s Sustainable Growth Strategy which ultimately provides an up-to-date policy expression for housing supply, diversity, affordability and choice for Brisbane.

“It identifies housing supply needs to increase in key inner-city locations, which includes areas such as Windsor and include a range of housing types, including higher density apartments and mixed-use developments (in these locations).”

The site has an existing approval for a 12-storey healthcare, aged-care and retirement-living building.

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▲ Deep landscaping is proposed for the podium, alongside a curved and articulated facade.

But the new plan would provide a luxury car showroom over two levels with 11 storeys of residential living above in Building 1, and three storeys of above-ground carparking with nine storeys of residential living in Building 2.

The two towers would sit above a shared landscaped podium with a design that “represents a balance between gentle curves and significant articulation”.

According to Ellivo Architects the “veranda-like outdoor rooms” defined the resident entry points to the tower foyers.

The rooftop would offer a diversity of communal spaces that would cater to active users, private entertaining as well as those seeking quieter places for respite, Ellivo documents said.

The boutique developer also has plans for a healthcare development at Greenslopes after Bekaa Group acquired three lots at 68, 70 and 72 Hunter Street across the road from Greenslopes Private Hospital late last year.

Tarabay developed the $35-million South City Medical at Upper Mount Gravatt.

Article source: Queensland Property Investor

Brisbane suburbs back on top for house price growth

Queensland’s strongest housing markets of the past six months have been revealed, with Brisbane claiming half the spots among the top 10 growth suburbs.

Latest PropTrack data shows seven suburbs across the state recorded house price growth of 10 per cent or more from January to June 2023.

The tiny Wide Bay town of Biggenden came out on top, with prices there up 13 per cent to a still modest median of $309,000.

Next ranked, the well-heeled suburb of Benowa on the Gold Coast recorded a jump of 11.7 per cent to $1.554m, representing a more significant increase for buyers in dollar terms.

Five Brisbane suburbs were ranked in the top 10, including inner-city Albion, up 11.3 per cent to $1.411m, then Nundah (+10.2 pc), Sunnybank Hills (+9.8 pc), South Brisbane (+9.5 pc) and Runcorn (+9.2).

Rounding out the list were: Forest Hill (Ipswich), Tully (Cairns) and Booie (Wide Bay).

PropTrack economist Paul Ryan said the figures confirmed the sustained recovery of Queensland’s housing markets following last year’s softer conditions in the wake of rising interest rates.

“The smattering of suburbs here shows that continued strong demand, particularly in southeast Queensland, but really all across the state,” Mr Ryan said.

“We are seeing some strong growth in inner-city areas and the coastal regions, but that demand is also spreading out to some previously undiscovered gems.”

He said sustained low listing levels, along with a continued flow of migration and tight rental markets, were among factors underpinning the “surprising” rate of market recovery in the first half of the year.

“The market has recovered quite quickly in 2023 and it has really been quite surprising,” Mr Ryan said.

“That recovery has been gaining pace with some strong momentum, but what we are seeing is more sustainable growth which has allowed both buyers and sellers to adjust to a market that has become more stabilised.”

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This four-bedroom, two-bathroom house at 46 Lambros Dr, Benowa is for sale for offers above $1.125m.

Place — Ascot agent Patrick McKinnon said the level of sales transacted across Brisbane suburbs in recent months was “insane”.

“We have never experienced anything like it, where the number of inquiries received per listing could be down but sales are just flying,” Mr McKinnon said.

“It’s like Covid all over again, there’s more than enough activity and people are really seeking finished product and bigger homes where they can move straight in.”

He said Albion had experienced uplift on the back of ongoing gentrification, with money poured into developing previous industrial areas and rebuilding flood-damaged properties in the suburb to a high standard.

For units, Palm Cove in Cairns was the strongest performer, up 12.5 per cent to a median of $558,000, followed by Brisbane City, up 11 per cent to $596,000.

>>>>>QLD TOP GROWTH SUBURBS – JAN-JUNE 23<<<<<

HOUSES

Biggenden

Benowa

Albion

Forest Hill

Nundah

Tully

Booie

Sunnybank Hills

South Brisbane

Runcorn

UNITS

Palm Cove

Brisbane City

Dalby

Warwick

Park Ridge

Kingaroy

Slacks Creek

Bardon

Corinda

Rochedale South

* source: PropTrack

Article source: Queensland Property Investor

The Ultimate Guide to Investing in Properties: Tips for Beginners

Are you a novice investor looking to break into the world of property investing? If so, this ultimate guide to investing in properties is for you! In it, we’ll cover everything from the basics and steps involved in getting started as an investor all the way through more advanced strategies that will help take your portfolio to new heights. We’ll also provide helpful tips so you can confidently navigate potential pitfalls along your journey toward financial freedom.

Research the area and market you’re interested in investing in

Investing in an area or market can be a daunting task, but with some thorough research, it can become a rewarding one. The first step is to identify the area or market you are interested in and start gathering information. This can include researching current trends, analyzing market growth projections, and studying the competition. It’s important to stay up-to-date on industry news and changes that could impact your investment. Additionally, networking with industry professionals and attending relevant events can provide valuable insight into potential opportunities and help you make informed decisions. Investing requires careful consideration, but with the right research and preparation, you can set yourself up for success.

Know your budget and expenses before taking on any investment

Before investing your hard-earned money, it’s essential to get a clear understanding of your budget and expenses. Knowing your financial situation will give you a realistic idea of how much you can commit to an investment and the potential risks involved. No matter how tempting an opportunity seems, it’s never wise to blindly dive into the investment world without proper planning and research. Keep track of all your income and expenses, and create a budget plan that aligns with your investment goals. As an investor, your goal is to maximize profits, and the first step towards achieving this is to be fully aware of your financial standing. Remember, a successful investment journey starts with a healthy financial foundation.

Take advantage of tax breaks, deductions, and credits available to real estate investors

Real estate investment is a lucrative venture that can provide great returns. However, navigating the tax landscape can be challenging for any investor. Fortunately, there are numerous tax breaks, deductions, and credits available to real estate investors that can help reduce their tax liability and increase their profits. For instance, deductions can be applied to operating expenses, such as repairs, maintenance, and advertising costs, while credits can be claimed for energy-efficient upgrades. As an investor, it is critical to understand the tax code and work with a professional tax expert to ensure you take full advantage of these opportunities. With the right approach, real estate investment can be a rewarding and profitable experience.

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Hire a professional

When it comes to investing, there are countless legal and financial aspects to manage. While it may seem easy to do it all on your own, seeking the help of a professional can make a world of difference. Having a buyer’s agent is important when purchasing a property as they can provide valuable insights. Hire a Brisbane buyers agent to negotiate on your behalf, and help you find the right property that aligns with your needs and budget, saving you time and potentially costly mistakes.

Likewise, having a lawyer when involved in legal matters, such as contracts, disputes, or complex transactions, is essential as they possess the legal expertise to protect your rights, offer sound legal advice, and ensure all legal documents and processes are handled accurately and in compliance with applicable laws.

Having an accountant when investing is crucial because they can provide expert guidance on tax implications and help you optimize your investment strategies to minimize tax liabilities. Additionally, accountants can ensure accurate record-keeping and financial reporting, ensuring compliance with regulatory requirements and providing a clear financial picture of your investments.

Experts on your side can help you avoid costly mistakes and ensure that your investments are sound. So, while it may cost you some money upfront, hiring a professional to manage your legal and financial affairs can ultimately save you time, money, and stress.

Choose the right type of property for your investment goals

Real estate investment can be a rewarding venture, but choosing the right type of property can make all the difference. Whether you’re looking for a source of regular rental income or hoping for a long-term appreciation of your investment, there are plenty of options to suit your goals. For those seeking passive income, residential rental properties and commercial buildings with long-term leases are excellent choices. On the other hand, those looking for capital gains may want to consider buying, renovating, and selling properties or investing in commercial real estate developments. Whatever your investment goals may be, it’s essential to do your research and choose the property type that aligns with your long-term financial objectives.

Understand different financing options available for real estate investments

It’s crucial to understand the different financing options available. Investing in real estate can be a lucrative venture, but it can also be an expensive one. One option is a traditional mortgage, allowing you to buy property using a bank loan. Another option is hard money loans, which are short-term, high-interest loans offered by private lenders. Additionally, you can consider partnering with other investors to pool resources and purchase property jointly. Finally, there are various government loan programs available for real estate investments. It’s essential to do your research and consider the pros and cons of each option before making a decision. With the right financing, you can start building your real estate portfolio and achieving your investment goals.

Investing in real estate is an exciting and potentially lucrative endeavor, but it is important to do your research and be well-prepared before taking the plunge. A combination of smart budgeting, being aware of tax advantages, and securing professional help can ensure a successful process. As with any investment, it is essential to understand the different features of each property and the potential risks and rewards associated with them. It is also critical to have some knowledge of the various financing options available and how they can help investors realize their goals. Taking these steps will provide real estate investors with a foundation for making sound decisions that support long-term wealth creation.

Surfers Paradise apartment as big as your average house block

A Gold Coast beach pad that’s more like a house than an apartment is set to attract plenty of interest when it goes under the hammer next month.

Described as the “ultimate coastal retreat”, the huge 373 sqm residence in the ‘Ultima’ building at Surfers Paradise was a family home for Scott and Jayne Lyddiard, along with their two sons.

Records reveal the couple paid $975,000 for the property in 2017, and while it was initially a holiday home, the family couldn’t resist moving from Brisbane to enjoy the Glitter Strip lifestyle.

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The property is steps from the beach.

“It was ideal as we have the kids and being on the ground floor, we had the entire outdoor area,” Mr Lyddiard said.

“It’s like having your own backyard — the boys could pass the footy or run around and we would have friends over and have our own barbecue area.

“It’s identical to a house but without the maintenance.”

The three-beddroom three-bathroom residence is one of just 10 in the Ultima building — which includes a heated pool and spa — on Garfield Terrace.

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Another living area.

The property offers a single-level floorplan serviced by an elevator from the basement or steps from the street.

“When I came down from Brisbane I could park in the basement car park, walk out the front and not catch the lift and I would get that fresh air that would instantly make me feel like I was on holiday,” Mr Lyddiard said.

“You can literally walk out the front door and go up to Cavill Ave and get the life of the Gold Coast or head down to Broadbeach and stop at The Langham and have a coffee.

“It’s an ideal spot.”

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You can walk to the beach.

Since buying the property, the couple has modernised it with a new laundry, new entertainment wall, a bioethanol fireplace and a built-in study.

While the property offers plenty of space, it is its proximity to the beach which really cements its credentials, according to Mr Lyddiard.

“My wife liked that in the morning she would be in the kitchen making her morning coffee and could look out across the ocean and see the blueness of the water,” Mr Lyddiard said.

“You can also sit out the front and enjoy the ocean,” Mr Lyddiard said.

“I used to sit out there most mornings and have a coffee and watch the morning sun come up.”

Ray White Prestige Gold Coast – Surfers Paradise agent Robbie Graham is taking the apartment at 1/30 Garfield Terrace to auction on August 17.

InfoTrack’s latest market update shows Surfers Paradise recorded a 62 per cent increase in unit sales from the month of April to May, despite rising prices.

InfoTrack head of property Lee Bailie said the Gold Coast’s tourist mecca not only held its title, but proved more popular than ever.

Article source: Queensland Property Investor

Mad Max stuntman falls for Gold Coast mansion Bajo El Sol

Mad Max stuntman Guy Norris deployed his training in death-defying feats to stay cool under pressure in a bidding duel against a high-profile entrepreneur for a Burleigh Heads designer home.

Aussie film industry veteran Norris and his partner Danielle splashed $4.3 million on the Ibiza-inspired luxury home known as Bajo El Sol, triumphing over Simon Beard, founder of streetwear juggernaut Culture Kings and the sole other bidder at the thrilling auction.

Ed Cherry, of Harcourts Coastal, and Michael Witt, of McGrath, took the award-winning home to market four years after it was built.

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The glamorous property was inspired by an Ibiza beach resort.

Norris is an actor, director and stunt coordinator whose career highlights include supervising a team of 150 stunt actors on location in the Namibian desert for the Oscar-winning feature film, Mad Max: Fury Road in 2021, coming full circle from one of his first big gigs as Mel Gibson’s driving double in the 1980s film, Mad Max: 2.

Norris and his son Harrison co-founded Proxi, a Gold Coast-based virtual production business, counting X-Men, Suicide Squad, Triple Frontier and The Mandalorian among credits.

Located on a 612sq m lot in the popular community of Koala Park between Burleigh Heads and Tallebudgera Creek, the home was formerly owned by interior designer Kelle Davis and claimed three Qld Master Builders awards in 2020.

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Guy Norris and his son Harrison co-founded Proxi virtual production company. Photo: David Clark

A sought-after photo shoot location, the home was a reflection of Ms Davis’ “raw coastal luxe” style, demonstrated through creamy curves, rendered textures and striking landscaping.

Features included a resort-style pool and floating lounge, while a statement staircase with raw brass balustrade led upstairs to a dreamy master suite complete with private balcony and a walk-in robe modelled on a high-end retail boutique.

Mr Beard, bidding on behalf of a family member on the phone, had made the opening offer of $3.3m for the four-bedroom, three-bathroom house but bowed out at $4m.

Mr Beard and his wife Tahnee grew their retail empire from a stall at Carrara market to a valuation of $626m in 2021, and purchased a spectacular penthouse apartment in Surfers Paradise that year for $15.25m.

The Norris’ purchase of Bajo El Sol settled recently, with their identities disclosed on property records.

Article source: Queensland Property Investor

Beachfront stunner back on the market with $5m price drop

The owners of a luxury Palm Beach mansion have launched a fresh tilt at securing a buyer, dropping their asking price by a staggering $5 million.

The absolute beachfront property at 504 The Esplanade is listed at $11.25m — down from$16.5m when it first hit the market in March last year.

It is marketed by Amir Mian and Paulette Koriacos, of Amir Prestige.

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The Bayden Goddard-designed home is back on the market after a price adjustment

Former V8 Supercar driver Paul Weel and his wife Emma built the stunning 5-bedroom, 5-bathroom home on an 824sq m lot in 2017.

Designed by acclaimed local architect Bayden Goddard, it was purchased by current owners Rodrick and Melissa Morrison for $5.5m in 2018.

“The sellers are willing to meet the market so we have had a significant price adjustment,” Mr Mian said.

“They have found something else so they are ready to negotiate with serious buyers.”

Mr Mian said the Hamptons-style home occupied a rare northeast facing double block along the prized southern coastal strip.

“What I particularly like about this property is the large block size with dual street frontage, which offers room for enhancements and redevelopment potential,” he said.

“Secondly, this is an architecturally designed, turnkey property that is ideal for an extended family, and you even have a mature lawn which you rarely find on the beachfront.”

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Living is spread over three levels

Living is spread over three levels, with features including polished concrete or timber floors and high ceilings, a stylish kitchen with black granite benchtop and butler’s pantry, oceanfront pool and fire pit plus entertaining terrace, and three-car secure garage.

Two bedrooms are located on the ground floor, one with a steam shower ensuite and bar or kitchenette serving as ideal guest accommodation, while two other bedrooms are located on the first floor, and the top level is given over to a lavish master suite with a large walk-in robe, ensuite and private balcony with sweeping views.

A cabled roof lends coastal charm, while the stunning waterfall kitchen benchtop forms a focal point of the open-plan main living zone, and can accommodate 15 people for a relaxed gathering where breaking waves provide the ultimate backdrop.

Article source: Queensland Property Investor

Recreational facility to reopen to community after school steps in and buys it

A recreational facility that has been closed for more than five months is poised to re-open after a school stepped in and bought it, but full entry details are yet to be revealed.

The Peregian Springs venue was shut down after the developer’s 10-year agreement to own and operate it came to an end.

Homeowners of the Ridges community estate, who had essentially paid an annual levy to Aveo Group for exclusive access, were offered the chance to buy it and take on the operating costs but a vote among them failed, the doors were closed and it was put on the market.

Nearby St Andrew’s Anglican College announced late Friday that it was taking over.

The college issued a press release saying the sale was achieved following a competitive expressions of interest campaign.

College principal Chris Ivey said the rec centre was a great asset to the area.

“Community is major part of who we are, and we are committed to providing opportunities and facilities that benefit both our internal and broader community,” he said in the release.

“The facility will operate as a public-facing cafe, pool and gym, albeit with some restrictions on access to the pool, based on the operational requirements of the college.”

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The pristine pool at the rec club.

Gary Kordic of Aveo Group was “delighted on the outcome”.

“St Andrew’s is best placed to enable the facility to re-open as soon as possible for the enjoyment of the broader community,” he said.

Under the new ownership, members will pay a fee to use the pool, gymnasium, tennis courts and barbecue facilities.

The popular all-access Pool Cafe will continue its lease, while the tennis courts will also be available to hire by any members of the public on weekdays.

Applications for memberships will open in early April, with the centre to reopen at full capacity in early May.

The college, celebrating its 20th birthday, had been looking to buy additional land for some time as it looked to expand its capacity to deliver services to the community.

The opportunity to buy 8000sqm within walking distance of the current campus was something Mr Ivey said the College Council thought was important to bid for.

“Our college has grown significantly and quickly over the last 20 years, becoming one of the most sought-after schools on the Sunshine Coast,” he said.

“A facility like this gives us additional ability to deliver the high-quality programs we offer to more students and the extended community.”

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The tennis courts.

The chairman of the local principal body corporate, Roger Cook, said it was “too early to tell” what the sale will mean for many residents, including those from Ridges who previously enjoyed exclusive access.

“We would need to see some more detail,” he said.

“We don’t know what the membership structure is going to look like and what it’s going to cost.

“Is it going to cost $4000 a year for memberships or $5 for entry?

“I know what it was going to cost us to operate the facility (if Ridges homeowners bought it) and $5 entry wasn’t going to cover the costs of operating it.

“So, we’ve got to see what the membership structure looks like.

“It could be affordable, or it could be completely out of the range for some families.”

The school’s website said that fees were “yet to be finalised” but fees and membership options would become clear on April 11.

Mr Cook wondered what the long-term future held for the rec centre site on The Avenue.

The school told Sunshine Coast News there were no plans, currently, to change the site.

“We are committed for two years to keep the facility open to the public, with no long-term development plans at the moment,” it said.

Mr Ivey said in the release that “the college has no plans in the near future to redevelop any aspects of the rec centre and it will continue to be open to the public”.

“There will be times when some operations, such as the gym or sections of the pool, are available solely to our St Andrew’s sporting teams or the current community-based programs we run,” he said. “This may include programs like swimming lessons for students at additional schools or other user groups.”

The school is in the midst of a massive upgrade at its home on Peregian Springs Drive.

It opened a $15m learning hub and a $14m aquatic facility in recent years and there were plans for more developments, including a $50m performing arts centre, in coming years.

“We are currently focused on delivering our current masterplan, which includes the current construction of our primary playing courts and extra car parking, followed by our Music and Performing Arts Centre and a purpose-designed STEAM facility,” the school said.

Article source: Queensland Property Investor

Mixed Fortunes: Home Approvals Up, Loan Commitments Down

Home approvals rose while the value of new loan commitments for housing fell during February, according to the latest data from the ABS.

The total number of homes approved rose 4 per cent in February, in seasonally adjusted terms, after a 27.1 per cent fall in January.

ABS head of construction statistics Daniel Rossi said the increase was driven by an 11.3 per cent rise in approvals for private sector houses, after a 10-year low in January.

“The result remains 13.6 per cent lower than February 2022,” he said.

“Private sector homes excluding house approvals fell a further 9.5 per cent in February, following a 40.3 per cent decline in January, and is at its lowest level recorded since July 2012.

“Total home approvals have continued their downward trend since September 2022, following the conclusion of government stimulus and rising interest rates.”

Across Australia, total home approvals increased sharply in Tasmania (122.1 per cent), while South Australia (28.5 per cent), New South Wales (14 per cent) and Victoria (0.5 per cent), also rose.

Queensland (-13.7 per cent) and Western Australia (-6.4 per cent) fell in seasonally adjusted terms.

Approvals for private sector houses rose in all states: Queensland was up 18.8 per cent, Victoria 10.3 per cent, NSW 9.9 per cent, WA 2.4 per cent and SA 1.6 per cent.

The value of total building approvals rose 19.7 per cent after a 19.2 per cent fall in January.

The value of total residential building approvals rose 7.7 per cent, comprised of an 8.4 per cent increase in new residential building and a 3.7 per cent rise in alterations and additions.

The value of non-residential building approved increased 39.8 per cent, following a 27.6 per cent fall in January.

Loan commitments fall again

Meanwhile, the value of new loan commitments for housing fell 0.9 per cent to $22.6 billion in February after a revised fall of 2.4 per cent in January.

ABS head of finance and wealth Dane Mead said the value of new owner-occupier loan commitments fell 1.2 per cent to $15 billion in February 2023, while the value of new investor loan commitments fell 0.5 per cent to $7.6 billion.

“Housing finance continued to decline from the record highs in January 2022, with the total value of new loan commitments falling 33 per cent since then,” he said.

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▲ The latest ABS data is proof no further rate rises are needed, according to the HIA.

The value of owner-occupier housing loan refinancing between lenders rose 3.5 per cent to a record high of $13.6 billion in February.

Borrowers continued to switch lenders for lower interest rates as the RBA’s cash rate rose.

The number of new owner-occupier first home buyer loan commitments fell 3.5 per cent, after a revised fall of 4.6 per cent in January.

“Owner-occupier first-home-buyer lending continued to decline from the high reached in January 2021, to the lowest level seen since May 2017. It was also 27 per cent lower than February 2020, prior to the pandemic,” Mead said.

‘No justification’ for rate rise

HIA chief economist Tim Reardon said the data meant there “can be no justification for further rate increases”.

“February saw the fewest loans issued for the purchase or construction of a new home in almost 15 years.

“Loans for new homes in February fell even further from its holiday low in January, down by 3.4 per cent to 4,267. The last time so few loans were issued for new homes was in November 2008.

“Owner-occupiers and investors alike continue to retreat from the market. Even lending for renovations—the part of the sector expected to hold up relatively well during this downturn – had its weakest month in almost two years.

“The impact of the RBA’s tightening cycle has been evident in weakening finance data for a number of months and this is now flowing through to building approvals that are also around decade lows.

“While approvals for new houses in February bounced back from their holiday low, they remain 13.6 per cent lower than a year earlier. Approvals for multi-units also fell by 8.4 per cent in February, to be down by 51.9 per cent on a year earlier, with many projects recently being delayed in the face of labour and materials uncertainties.”

Article source: Queensland Property Investor

Sunshine Coast development wins top prize at UDIA national awards

The coveted top honour for Project of the Year at the UDIA National Awards for Excellence 2023 has gone to a $4 billion Sunshine Coast residential community development.

Australian developer AVID Property Group’s flagship community, Harmony, also claimed the National Award for Masterplanned Communities.

AVID Property Group General Manager Queensland Bruce Harper said the project would eventually be home to 13,000 people.

“Central to Harmony’s success was the early meticulous planning and project visioning the AVID team undertook to map out every aspect of the master planned community, from the land sizes and configurations to road widths, landscaping, transport links, greenspaces and amenities,’’ Mr Harper said.

“We didn’t turn one sod of soil until this process had been completed.

“Our vision for Harmony wasn’t just about meeting increased demand for infrastructure and housing on the Sunshine Coast,’’ he said.

“Equally important to the AVID team was creating a connected and cohesive community that went above and beyond expectations and surpassed and redefined urban design standards in Australia.”

The winners were crowned at a gala dinner in Perth at the UDIA National Congress 2023 and demonstrated the very best that Australia’s urban development industry has to offer.

“This year, I was proud to see the winners from each state recognised for their ability to innovate and adapt to a rapidly changing marketplace and reflect the outstanding individual qualities present in our membership,” Maxwell Shifman, UDIA National President, said.

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Small Scale Development Award winner Park Terraces.

Among three Western Australia winners was Celsius Developments’ award for Small Scale Development.

Its Shenton Park infill development site, Park Terraces, was described by UDIA WA CEO Tanya Steinbeck as “a unique infill development that is also adding to the local streetscape.”

“Quality infill development is so critical to Perth’s future growth,” Ms Steinbeck said.

“It is projects like Park Terraces that are a fantastic demonstration of medium density, infill development done well.”

UDIA National Awards For Excellence winners:

• Young Leaders’ Award Winner: Rachel Ezzard, Stockland, WA
• Women in Leadership Award Winner: Michele Adair, Housing Trust, NSW
• Award for Marketing Winner: Altura, West Village – Sekisui House Australia, Qld
• Award for Seniors Living Winner: Rosewood West Perth – Rosewood Care Group, WA
• Diversity in Development Award Winner: Lendlease
• Award for Social and Community Infrastructure Winner: Activating reservoir reserves for healthy communities – SA Water, SA
• Award for Sustainability Winner: Nightingale Ballarat – Hygge Property with Nightingale Housing, Vic
• Award for Urban Renewal Winner: Midtown Centre – AsheMorgan & DMann Corporation, Qld
• Award for Affordable Housing Winner: Daly Street – Otello, SA
• Award for Residential Development Winner: Catherine Park – Harrington Estates & The Fairfax Group, NSW
• Award for Masterplanned Communities Winner: Harmony by AVID Property Group – AVID Property Group, Qld
• Award for Small Scale Development Winner: Park Terraces – Celsius Developments, WA
• Award for Medium Density Development Winner: Parkridge Noosa – Altum Property Group, Qld
• Award for High Density Development Winner: Treehouse by Aria – Aria Property Group, Qld
• Award for Design Winner: Sofitel Adelaide – Palumbo Group, SA
• Project of the Year Winner: Harmony by AVID Property Group – AVID Property Group, Qld

Article source: Queensland Property Investor

Stamoulis Group launch beachfront ARI, Main Beach apartment development

The Melbourne-based Stamoulis Property Group, led by rich-lister Harry Stamoulis, has launched their first ever Gold Coast apartment project.

The blue-chip location – a triple block with a 30-metre frontage to the sand and surf at 3555 Main Beach Parade – is a rarity along the Gold Coast’s sought-after beachfront strip..

They’ve just launched ARI, a collection of 26 half and full-floor apartments, three full-floor sky homes, and a sprawling penthouse with a private rooftop terrace and pool. That’s set to launch next week.

Bayden Goddard’s BGD Architects designed the resident-only, 19-level tower, creating apartments that include everything a buyer would expect to find in a high-end house.

The half-floor apartments start at a generous 288 sqm and range up to 325 sqm in size. Each has three bedrooms, three bathrooms, and two car spaces.

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ARI
3555 Main Beach Parade, Main Beach QLD 4217

Whole-floor apartments start from a massive 567 sqm and have four bedrooms, four bathrooms, and four car spaces. Crowning the building is the 759 sqm two-level penthouse with four bedrooms, five bathrooms, five car spaces, and a private rooftop with sweeping views up and down the Gold Coast.

Every apartment will feature sophisticated interior finishes, with thick marble benchtops balanced by natural timber textures and classic chrome tapware. Inviting the outdoors in, generously glazed main living zones seamlessly extend to expansive beach-facing balconies, creating even grander living spaces and opening up view lines throughout.

Resort-inspired amenities feature on Level one of ARI, including a 25-metre heated lap pool, a gym, steam room and sauna, plunge pool, residents lounge, and a business centre.

Stamoulis Property Group, founded by Harry’s father Spyros Stamoulis, has amassed a diverse portfolio of residential, commercial, and mixed-use developments and property assets across Australia over three decades.

Article source: Queensland Property Investor

Australian property listing activity continues to crawl in June 2023

Listing activity for the year continues to move at a snail’s pace, as June failed to buck the downward trend. Ray White‘s analysis found June’s listing activity to be lower than last year’s. Across Australia, new properties for sale were depressed by 8.3% year-on-year in June.

Listing levels differ across capital cities. Activity in Sydney, Melbourne, and Canberra is far below the performance of June last year. Perth has the most significant listings decline, posting a year-on-year loss of 24.4%.

New listings remain down on previous years

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Source: Ray White.

Total listings fared well compared to last year, with some differences among major cities. Hobart’s listings jumped by 54.9% when compared to the previous year. Canberra’s stock has grown, though the capital has more older listings. On the other hand, listings dropped in Sydney and Perth.

Listing movements for Australia

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* Listing figures include industry-wide listings and Ray White Listings. Source: Ray White.

Listing authorities, defined here as properties signed to Ray White but not advertised, have been creeping upwards in June. New listings in June are a little under that of last year. Notably, the listings authorities chart illustrates how the industry is impacted by seasonal trends, with activity usually rising in spring, although this was not observed in 2022.

Listing authorities

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Source: Ray White.

Capital cities breakdown

Stock in Bradbury and Catherine Field rose by 100%, while Palm Beach and Glenmore Park saw their stock drop by 61% compared to last year. New listings are declining slightly month-on-month and year-on-year, with listings still well below the early 2022 highs. Total listings have also reduced month-on-month and year-on-year as supply fails to match demand.

Sydney new listings – top growth and decline suburbs

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Source: Ray White.

Cheltenham and Nunawading’s stock rose by 100% from the previous year, while the rural locality Mambourin saw its stock dip by 77%. New listings in Melbourne fell month-on-month and year-on-year, mimicking trends seen in Sydney. Total listings slumped month-on-month by 2%, while year-on-year total listings rose by 1.4%

Melbourne new listings – top growth and decline suburbs

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Source: Ray White.

Suburbs in Brisbane and surrounds experienced spikes in new listings, with Greenbank and Park Ridge having 235% and 180% more stock. Other suburbs like Raceview and Fernvale saw their listings diminish by 63%. Brisbane’s total listings remained the same year-on-year but receded marginally last month. Listings in Brisbane only started to drop from the start of 2023.

Brisbane new listings – top growth and decline suburbs

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Source: Ray White.

The top-performing suburb in Adelaide is Angle Vale, with 249% year-on-year growth, while its worst-performing counterpart is Evanston Gardens, which dropped in listings by 62%. Adelaide’s month-on-month listings fell, although new listings are still above last year’s. Total listings have followed a similar trend, with month-on-month listings falling by 7.5% while year-on-year listings rose by 6%.

Adelaide new listings – top growth and decline suburbs

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Source: Ray White.

Listings in Heathridge and Melville spiked by 92% and 82%, respectively. New listings dipped by 3.5% this month compared to last month and have declined by 25% compared to June last year. Total listings fell by 7% from May to June and are down overall by 23.1%. New listings only contracted in the past three months but at a rate unseen in other parts of Australia.

Perth new listings – top growth and decline suburbs

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Source: Ray White.

Brighton had a 120 % uptick in stock, while Newton’s stock declined by 61%. Hobart is experiencing a significant decline in new listings, with a month-on-month decline of 25.7% and a yearly drop of 18.5%. Total listings dived by 23.1% in the last year and 6.9% in May this year.

Hobart new listings – top growth and decline suburbs

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Source: Ray White.

Zucolli has a 244% rise in listings, while Rosebery’s listings halved. New listings fell in May by 0.7% and 4.4% in June last year. On the other hand, in line with the other major cities where new listings surpassed sales, total listings rose by 3.9% month-on-month and 3.2% year-on-year.

Darwin new listings – top growth and decline suburbs

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Source: Ray White.

Nurrabundah’s new listings spiked by 60% in June last year, whereas Whitlam’s new listings shrunk by 57%. New listings contracted by 5.7% from May and 6% from June last year. Total listings fell by 6.4% compared to May, although they are still above the levels of June the previous year by 11.5%.

Canberra new listings – top growth and decline suburbs

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Source: Ray White.

Article source: Queensland Property Investor

Pellicano’s Revised Plans Pump Up Brisbane BtR Pipeline

A build-to-rent model is among changes proposed by developer Pellicano for an approved 30-level residential-led mixed-use tower project at inner-city South Brisbane.

The revised plans also include a rise in the number of apartments from 320 to 324, of which 90 units across levels four to nine would be interchangeable for short-term accommodation.

Earmarked for a 2021sq m site spanning three lots at 15-19 Brereton Street, the proposed development dates back to 2015 when the Brisbane City Council gave the go ahead for a 26-storey tower with 303 apartments sitting above a four-level podium.

It has since been the subject of a number of applications, including minor changes and approval extensions.

“The applicant proposes to include the dwelling units to be used interchangeably for either short-term accommodation and/or multiple dwellings on levels 4-8 … and to manage the balance of the multiple dwelling units in a ‘build-to-rent’ arrangement,” the latest planning documents said.

Other proposed amendments to the Cottee Parker-designed scheme include an increase in the ground level retail-commercial gross floor area from 249sq m to 340sq m plus 85.5sqm of outdoor dining space.

As well, carparking would be reduced from 318 to 304 spaces and minor changes to bicycle storage facilities undertaken across the three basement levels.

Significantly, however, the application noted that “a key aspect that is unique to the proposed build-to-rent model is the holistic management of the building, including the car park,” it said.

“Unlike a traditional STA (short-term accommodation) / residential building, car parking spaces will be ‘decoupled’ from the apartments and leased to tenants on an as-needs basis.

“This arrangement ensures that all spaces are effectively utilised, and none are wasted.

“The flexible nature of car spaces being rented separately to the apartments will also promote residents to reconsider their need to own a vehicle on an ongoing basis, with a lease over a parking space able to be ended at any time at the desire of the tenant.”

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▲ A render of the proposed build-to-rent tower earmarked for 15-19 Brereton Street, South Brisbane.

According to the submitted documents, the developer will own and operate the entire building under its Pellicano Living build-to-rent platform—giving it “full control over leasing of all units”.

“This provides the ability to be selective in leasing apartments to potential tenants based on car ownership,” the application said. “If all the parking spaces are leased, the selection process for new tenants can be filtered in a manner that only attracts tenants without cars.”

Capping the proposed development is a rooftop terrace, including a pool with wet lounges, indoor and outdoor dining spaces, barbecue area, spas, steam room and sauna, gym, cinema and snooker room.

Additional podium and rooftop planting under the revised plans also would provide further softening of the facade design, the application said.

Earlier this year, Pellicano revealed it was casting its property rental net wider to capitalise on Australia’s booming penchant for short-term accommodation.

With demand for rental apartments surging and a strong rebound in post-pandemic holiday and business travel, it unveiled its short-stay apartment brand Rambla as an extension of its Pellicano Living build-to-rent platform.

Bolstering its growing pipeline in the rapidly-growing asset class, it also has lodged plans for a $225-million four-tower build-to-rent play on the Gold Coast.

To be known as Paloma House, it would comprise 418 one, two and three-bedroom apartments in a resort-style scheme designed by Rothelowman on a 1ha-plus site at Stadium Drive, Robina.

Article source: Queensland Property Investor

Old brick house in popular beach suburb in line to make way for high-rise

A rare old beach house at a popular tourist strip has been sold and is likely to make way for another high-rise in the area.

No.25 Mahia Terrace at Kings Beach went for $2,188,000 in a re-sale last week, paving the way for probable development just 95 metres from the sand.

The 607sqm property is in the heart of the suburb, which has become a favourite destination for overnight visitors from Brisbane and beyond.

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The property is less than 100m from the sand.

The modest home that sits on the site has two bedrooms, one bathroom and two car spaces.

It’s close to the patrolled section of beach, cafes, restaurants and retail.

Ray White Caloundra sales and marketing consultant Natascha Drexel-Munro said it was a rarity.

“It is one of the last remaining beach houses in the area,” she said.

The property was originally purchased for just $55,000 in 1979 and then built on.

It was owned and used as a holiday home by the same people for decades.

It was sold last year and remained vacant until it was sold again this year and is now in line to be built on.

“It has zoning for development to five storeys on that site,” Ms Drexel-Munro said.

“They (the new owners) are going to probably look at doing a high-rise on there (pending an application and council approval).”

She said the property was in the perfect position for a high-rise and the area was ideal for high-end apartment blocks.

“You get ocean views from there and it (Kings Beach) appeals to everybody. It’s a growing area and it’s a family-friendly beach with a tourism feel to it now.”

Another old home in the area, No.22 Mahia Terrace, was also recently sold for $1.52m, after several developers tried to buy it and the property next to it.

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The property’s spacious yard amid neighbouring apartment towers.

Auction results

32 Stoney Wharf Road, Bli Bli

Passed in at $2,000,000

4 Bed, 3 Bath, 4 Car

Ray White, Fiona Rawson

907/38 Mahogany Drive, Pelican Waters

Passed in, on the market for $829,000

3 Bed, 2 Bath, 2 Car

Ray White, Thomas Garland

501/75 Landsborough Parade, Golden Beach

Sold for $820,000

3 Bed, 2 Bath, 2 Car

Ray White, Ray and Linda Daniels

170/8 Starling Street, Buderim

Passed in at $403,000

2 Bed, 1 Bath, 1 Car

Ray White, Gregory Ward

1206/7 Venning Street, Mooloolaba

Sold under the Hammer for $1,430,000

2 Bed, 2 Bath, 1 Car

Ray White, Peter King

27/51 Grand Parade, Kawana Island

Sold under the hammer for $650,000

2 Bed, 2 Bath, 2 Car

Ray White, Will Van den Dungen

1/35 Brisbane Road, Mooloolaba

Passed in at $375,000

1 Bed, 1 Bath, 1 Car

Ray White, Peter King

2/73 Parkyn Parade, Mooloolaba

Passed in at $900,000

3 Bed, 2 Bath, 1 Car

Ray White, Reuben Park and Lachie Woods

Article source: Queensland Property Investor

First look: Roche Group file plans for next stage of Calypso Bay, Gold Coast masterplan

Sydney-based developer Roche Group has filed plans for the next stage of its Jacobs Well, Gold Coast masterplan.

They’ll be bringing much needed supply to the Gold Coast, submitting a development application for 76 three and four-bedroom duplexes on a 2.46-hectare site within their $2 billion Calypso Bay masterplan halfway between the Gold Coast and Brisbane.

They’ve had local architecture firm BDA design the duplexes, with three different floorplans and 12 different external designs on offer.

Each duplex will have two levels and two car spaces. The four-bedroom duplexes will have a multi-purpose space, while the three-bedroom duplexes will feature a master suite with walk in wardrobe and bathroom, and a separate study area.

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In their design submission, BDA said the proposed townhomes will enhance and support the existing community by broadening the range of housing options for new and existing residents.

“The proposal has been designed to have a cohesive modern character, where the expression and form of the buildings work in concert, creating a light, clean, modern look, with the addition of traditional residential elements,” the submission read.

A timeless elegant subtropical architectural style, supported by a lush native landscape will create a sense of place, help enhance the vibrant Calypso Bay community and create an ideal environment to call home.

The site is located on the corner of Harbour Boulevard and the unformed Helmore Road, at the entry to the Calypso Bay Estate. The triangular shape of the site, the screened location and dense vegetation to the south and west has driven the site planning.

“Based on location and characteristics, it is considered the site is an ideal location for medium density development fulfilling the intent approved plan of development with well-designed and contextually appropriate housing,” BDA added.

They described Calypso Bay as “a destination in waterfront residential living.”

Nearly 25 per cent, some 5,440 sqm, is dedicated to communal landscaping. The duplexes will be developed around a central 20 metre pool with a tiered lounging space and adjoining barbecue and dining area.

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DBI, who handled the landscaping, said the landscape design aims to develop a modern and elegant landscape that enhances the unique character of the site and reinforces its sense of place within the Calypso Bay development.

“The design will incorporate hardscape elements such as walls, fences, and finishes that draw inspiration from the proposed architectural forms to create a cohesive environment.”

The $2 billion masterplanned community will comprise around 1,400 homes and 840 apartments, when it’s completed. It will home around 5,500 people.

Roche Group recently filed plans for a mixed-use development in Sydney’s Lilyfield.

Article source: Queensland Property Investor

Epic Hinterland ranch crowned Gold Coast 2023 house of the year

A SPRAWLING Hinterland ranch with horse stables, an Olympic standard arena, and a basketball court has been crowned the Gold Coast’s house of the year.

This year’s Gold Coast Master Builders 2023 Housing & Construction Awards, held on Friday night, showed off the city’s best craftsmanship and innovation.

V-Build Construction Services were behind Mountainview, a spectacular equestrian homestead at Maudsland.

The house features a combination of timber, limestone and stonework throughout with six fireplaces, state-of-the-art cinema, wine and whiskey rooms and a gym.

Is is built around a 10m high, 19th century-style timber barn that is incorporated into the structural steel and window facades.

Cobblestones were imported and repurposed from Belgium roadways while the project also includes an undercover equestrian rink and stables, as well as a basketball court.

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Mountainview.

Other features include two elevators, a car wash in the basement garage, and custom-made cabinetry in every room.

V-Build Construction Services were also winners in the individual home over $3 million category and picked up awards for best residential bathroom and best residential kitchen, along with best residential pool for JB Pool Constructions.

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Hutchinson Builders collected the Project of the Year and Residential Building (high-rise over three storeys) over $20 million Awards for 272 Hedges Ave.

Other winners included Hutchinson Builders, who collected the project of the year and residential building over $20 million awards for 272 Hedges Ave.

Their Mermaid Beach apartment block was described as a unique curved building and an iconic construction that would define the Gold Coast skyline.

A modern take on a traditional Queenslander, The Breeze House at Burleigh Heads earned PJH Constructions the sought-after president’s award and also saw them walk away with a win in the individual home from $1 million to $2 million category.

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The Breeze House at Burleigh Heads earned PJH Constructions the sought-after building president’s award and also saw them walk away with a win in the individual home from $1 million to $2 million category.

Paul and Nicole Harms, it-couple of the Gold Coast construction scene, were behind the house which sold for $3.85m in May, 2023.

It was built by Mr Harms’ construction company, with interior design by Mrs Harms’ studio, Our Next Project.

Positioned on a 680sq m lot between Burleigh Headland and picturesque Tallebudgera Creek, the four-bedroom, three-bathroom home was described as, “a modern Queenslander crossed with a quintessential beach house of grand proportions”.

The Breeze House features weatherboard cladding, metal roof, wide verandas, and exposed rafters and as the name suggests, the design was heavily focused on crossflow ventilation.

French timber doors are intended to be open, connecting the internal areas to the external spaces.

Landscaping by JSW Landscape and Design complements the crisp white exterior cladding for a classic look.

Master Builders’ Gold Coast regional manager, Adam Profke congratulated all winners across the 44 categories.

“Our members’ determination, talent and innovation are a true reflection of this year’s awards theme, shining bright,” he said.

“From theme park projects and huge educational facilities to beachside apartments and Hinterland mansions, the Gold Coast building community came together to produce stellar projects.”

MAJOR AWARDS

• House of the Year Award – V-Build Construction Services for Mountainview (Maudsland)

• President’s Award – PJH Constructions Australia for The Breeze House (Burleigh Heads)

• Project of the Year Award – Hutchinson Builders for 272 Hedges Ave (Mermaid Beach)

HOUSING AWARDS

• Display Home from $350,000 up to $450,000 – GJ Gardner Homes Gold Coast North for Edgewater 219 (Bahrs Scrub)

• Display Home over $550,000 – Metricon Homes for Merricks 42 Nordic (Labrador)

• Individual Home from $350,000 up to $500,000 – Rome Design & Construct for NOKNOK ONE (Palm Beach)

• Individual Home from $500,000 up to $750,000 – AusDesign Homes for Serenity Breeze (Helensvale)

• Individual Home from $750,000 up to $1 million – Bellevue Design and Construction for Serenity (Helensvale)

• Individual Home from $1 million up to $2 million – PJH Constructions Australia for The Breeze House (Burleigh Heads)

• Individual Home from $2 million up to $3 million – Resolve Construction for Neu Burleigh (Burleigh Waters)

• ABI Interiors Individual Home over $3 million Award – V-Build Construction Services for Mountainview (Maudsland)

• Truecore Best Use of Steel Frame Housing Award – DC House for Allawah Estate (Mount Nathan)

• Home Renovation Project from $200,000 up to $400,000 – NewScope Constructions for Project Joy (Burleigh Waters)

• Home Renovation Project from $400,000 up to $650,000 – JIC Projects for Miami Vibes (Miami)

• Home Renovation Project from $650,000 up to $1 million – JM Building Development for Terrace Home Renovation (Sanctuary Cove)

• Home Renovation Project over $1 million – PJH Constructions Australia for Kooringal Lodge (Tallebudgera)

• Excellence in Sustainable Living – Kai Konstruct for Kingfisher Residence (Currumbin Waters)

• Shortek Systems Australia Best Use of Sloping Sites Award – Wave Developments for Burleigh Hill Home (Burleigh Heads)

• Medium Density up to 3 storeys – 2 to 5 dwellings – PJH Constructions Australia for The Guyra Residences (Burleigh Heads)

• Medium Density up to 3 storeys – over 5 dwellings – Greyburn Building Contractors for Serenity Green (Helensvale)

• Residential Trade Contractor of the Year – Aesthetic Tile & Stone for Nirvana (Palm Beach)

Article source: Queensland Property Investor