After securing a prime site in Palm Beach earlier this year, experienced developer Samy Saad has lodged plans for the Gold Coast Highway site.
His building development company, Dascon, will be building a 12-level apartment building on the huge 1,649 sqm site at 1177 Gold Coast Highway, one of the largest sites ever amalgamated and sold in Palm Beach through GV Property Group.
BDA Architecture have designed the visually striking development just off Jefferson Lane, which was thoughtfully put together so each of the 38 apartments get ocean views.
They noted in their design statement that the layered and curved façade responds to the surrounding local context.
“The architecture of the proposal is tailored to the coastal, sub-tropical location of Palm Beach,” the architecture firm stated.
Saad is intending on retaining a foothold in the project for his family and friends, with a limited amount of apartments being first offered to Palm Beach locals. He favoured Palm Beach over the other local suburbs due to the breathtaking beach and water, sheltered by Currumbin and Burleigh headlands on each side.
“We expect to see downsizers, owner occupiers, retirees, locals, or people looking settle or have a holiday house on the best beach on the Gold Coast whilst being only 10 minutes to the airport,” Saad said.
The whole of the ground floor will be dedicated to amenity. It will feature a pool, pool terrace with barbecue, and a gym. In a nod to locals and what Palmy is all about, there will be a dedicated area with outdoor showers designed for surfers and swimmers.
“There’s a double height entry void with double lifts, something not commonly seen on projects in the area,” Saad added.
There will be just four apartments per floor, a mix of two and three-bedders, until level eight when it becomes half-floor, four-bedroom apartments offering over 250 sqm of living space.
There are two penthouse sized apartments on levels 11 and 12, each spanning a whole floor with 440 sqm penthouse crowns the building, complete with four bedrooms, two living spaces, a multi-purpose room, a kitchen with butler’s pantry, and a further 130 sqm of balcony.
Luke Reaby from development site specialists GV Property Group put together the trio of sites, after initially listing the six apartment amalgamation of 1177 Gold Coast Highway.
“After selling the double block at 1177 Gold Coast Highway, we approached the two northern house blocks to expand the footprint – opening up the development possibilities to a scale that is rarely seen in Palm Beach anymore,” Reaby said.
“Property owners in Palm Beach are seeing the huge added value they can unlock by selling together as a collective, as developers and people looking to relocate are always looking for something in Palm Beach,” Reaby added.
When it comes to choosing a place to live, there are many different options available. For some people, a single-family home is the best choice. Others may prefer an apartment or condo. And still, others might choose to live in a mobile home or RV.
So how do you know which option is right for you? It depends on several factors, including your budget, your lifestyle, and your needs.
Let’s take a closer look at condos and how they compare to other types of housing options.
What Is A Condo?
A condo is a type of ownership in which residents own their individual units, but share common areas with other residents, such as hallways, lobbies, and recreation facilities. Condos are often found in large buildings or complexes, and they can be a great option for people who want to live in a close-knit community.
How Do Condos Compare To Other Housing Options In Terms Of Availability?
Condominiums have become a popular housing option recently, especially in larger cities. But how do they compare to other housing options in terms of availability?
For starters, condos are often more readily available than other housing types, such as single-family homes or apartments. This is especially true in urban and suburban areas with limited areas where you can find more condos available than family homes or flats. This is because condos are typically part of a larger development or community, which means that there are usually multiple units available at any given time.
If you’re looking for a readily available housing option, condos may be the right choice for you. However, it’s essential to remember that condos usually come with fewer features and amenities than other types of homes, so you’ll need to weigh your needs and preferences before deciding.
What Are The Advantages Of Living In A Condo?
There are many advantages to living in a condo. For starters, condos are often more affordable than other housing types, such as single-family homes. They also tend to require less maintenance and upkeep since the condo association typically takes care of common areas. And because condos are often located near each other, residents often have easy access to amenities like pools, gyms, and playgrounds.
Another benefit of owning a condo is that they are often located in prime real estate locations. This could include areas that are near the beach, downtown, or other desirable neighborhoods. Additionally, since condo buildings are typically taller than other types of homes, they often offer stunning views that other housing options cannot match.
Should You Buy A Condo?
Whether or not you should buy a condo depends on your specific situation. If you’re looking for an affordable place to live that requires little maintenance, a condo might be a good option. But if you value privacy and freedom to change your property, you might prefer another type of housing.
How Do Condos Compare To Other Housing Options?
Now that we’ve looked at some of the pros and cons of living in a condo let’s compare condos to other types of housing options.
Single-Family Home
If you’re looking for privacy and freedom to make changes to your property, a single-family home is probably your best bet. With a single-family home, you won’t have to worry about common area fees or restrictions on what you can do with your unit. And you’ll have plenty of space to yourself – inside and out. Of course, single-family homes also tend to be more expensive than condos, requiring more maintenance and upkeep. So if you’re not ready to own a home, a condo might be a better option.
Apartment
An apartment is similar to a condo because you’ll live close to other residents. But with an apartment, you won’t own your unit – you’ll only be leasing it from the landlord. That means you won’t have to worry about maintenance or common area fees, but you won’t have as much freedom to change your unit. If you’re looking for an affordable place to live with minimal responsibility, an apartment might be the right choice.
Mobile Home/RV
Mobile home or RV can be a great option if you’re looking for maximum flexibility. With a mobile home or RV, you can take your home wherever you go. And because they’re usually smaller than traditional homes, they’re often more affordable. Of course, mobile homes and RVs can be difficult to maintain, and you may have to pay for a spot to park them. But if you’re looking for an unconventional housing option, mobile home or RV might be right for you.
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An iconic commercial hub in the heart of Caloundra has sold for close to $10 million.
The Caloundra City Centre building, at 51-55 Bulcock Street, was owned long term by a local family but it’s now in the hands of Sydney-based investors.
It’s one of the beach town’s most well-known premises, with a floor area of 2428sqm and 42 tenancies.
Henzells Agency negotiated what is one of the largest commercial sales in Caloundra’s main street.
The complex is in a prime position.
The agency’s Commercial Manager Paul Bell said the building was in a prized location.
“The Sydney buyers had been searching nationally for a site and in the end could not go past Caloundra as a sought-after growth area and lifestyle destination to invest in,” he said.
“The traditional markets of Mooloolaba and Noosa have held the spotlight for years, however there is definitely a shift in focus to Caloundra and the Southern Sunshine Coast amongst commercial buyers.”
The three-level building, with 56 undercover car parks, had attracted waves of interest from prospective buyers around the country before it was sold.
There were 7251 views and 77 enquiries on realestate.com.au in 96 days, plus hundreds of engagements through newspaper ads and the Henzells website.
The building, which is 250m from the beach, hosts a mix of tenants, include accounting, finance, solicitors, barbers, hairdressers, coffee shops and computer information technology.
“The buyers secured a fully tenanted investment with net rent of around $650,000 and significant development upside,” Mr Bell said.
According to the agency, the buyers saw scope to work with existing tenants. They will continue to lease it out and potentially put their own spin on the building with future improvements.
The building has 42 tenancies.
Henzells, which has its offices across the road from the building, will manage the commercial leases ongoing.
Confidence in the southern Sunshine Coast market was further evidenced with the recent settlement of medical building ‘Suite 21’ in the Lake Kawana commercial precinct, also marketed by Henzells Agency.
“The property attracted strong interest, eventually selling to a local medical professional as an investment, for near to the $1.95m marketed price. It remains tenanted by ASX listed fertility company Virtus Health,” Mr Bell said.
There has been a burst of activity in Caloundra among residential and commercial sales in recent times.
The Centrepoint Marketplace retail centre at 50 Bulcock Street, adjacent to the Caloundra City Centre sold for $7.3 million.
Meanwhile, settlement was reached on a prime CBD site that will be transformed into a $95 million residential and retail tower. Some multimillion-dollar projects are also set to change the face of the town, including the $250m Paloma and Paloma and BIANCO Caloundra.
Brisbane-based developer S&S Projects has enlisted Hutchinson Builders to construct a $150-million apartment project in Coolangatta, its third such development in the area as local developers struggle with escalating construction costs and labour shortages.
The development group, led by Paul Gedoun, is bullish on breaking ground with its first two projects, Flow Residences and Awaken, advancing and its latest project, Esprit, now earmarked for completion in the first half of 2024.
“Our first two [Coolangatta] projects are considerably progressed,” Gedoun said.
“We’re excited to have Hutchinson Builders’ Coolangatta team on our third development at Rainbow Bay. They are locals and employ locals and that is important to us.”
The developers’ 12-storey Esprit project, at 6432 Boundary Street in Rainbow Bay, has been designed by Cottee Parker Architects and will comprise 94 high-end apartments in two and three-bedroom configurations ranging from 109 to 215 square metres.
It also features wellness facilities including a gym, yoga lawn, private remedial treatment room, ice bath, infrared sauna, steam rooms and a 25-metre rooftop infinity pool.
As well as this S&S Projects has planned a large residents’ recreational space— including a children’s play lawn, private dining room, private terraces, barbecue areas and an outdoor cinema.
Since launching in September 2021, Pezet Matheson, the agency marketing the project’s apartments, has clocked up $71 million in sales.
Gedoun said the final release of apartments, priced from $995,000 for two-bedroom apartments and from $1.95 million for three-bedroom residences, would hit the market shortly.
The Rainbow Bay project comes on the heels of the developers’ $74-million Flow Residences and Awaken Residences, which set a record penthouse sale price of $8.15 million for the Coolangatta area in mid-2021.
Construction of Flow recently reached a milestone with the building topping out and edging closer to completion later this year, while construction is progressing at Awaken with the basement completed of the 12-storey project starting to take shape on a prime site at Point Danger.
▲ With Esprit now in the construction phase, S&S Projects has three active developments under way in the coastal hotspot. Image: Cottee Parker Architects
Building demand and supply chain issues have seen the cost of construction materials rise significantly in the past 12 months, with major firms including Condev and Probuild collapsing.
Gold Coast building costs rose 14.5 per cent last year and are expected to rise another 6.7 per cent this year.
In May, Melbourne-based developer Central Equity abandoned plans to build a $500 million apartment tower further north in Surfers Paradise over concerns that surging construction costs will make the project unprofitable.
Apartment sales have been booming in recent years, with prices skyrocketing and many new projects launching, however, the region has a limited pool of building firms compared with Sydney and Melbourne which has exacerbated surging construction costs and supply chain delays.
Pezet Matheson managing director Jayde Pezet, who is overseeing the Esprit campaign, said solid fundamentals still supported the residential construction market, particularly smaller scale developments and larger apartments aimed at owner-occupiers.
“As one of Queensland’s largest construction companies, Hutchinson’s are well equipped to ensure the viability of the project and navigate the challenges facing the industry at this time, which provides our buyers with peace of mind,” Pezet said.
Not resting on its laurels, S&S Projects has another Gold Coast project in the works—a 23-storey tower will be split into hotel rooms and apartments on the corner of Palm Beach Avenue and 1128-1132 Gold Coast Highway, Palm Beach.
Similarly designed by Cottee Parker Architects, the project includes 150 hotel apartments and 40 residential apartments. If realised, it would be the tallest modern tower in Palm Beach.
The breathtaking Gold Coast penthouse, once owned by the late Sir Jack Brabham, failed to sell at auction on Saturday with agents now taking expressions of interest.
It may not be surprising to some, with auction volumes remaining low this week as a result of the upcoming public holiday on Monday in Queensland, New South Wales, the Australian Capital Territory and South Australia.
According to Domain’s latest data, last Saturday’s auction results saw a clearance rate of 21.4 per cent for the Gold Coast.
However, volumes are expected to rise in the coming weeks as we head towards the middle of the busy spring selling season.
The penthouse at 108/21 Bayview Street in Runaway Bay is on the market for the first time in 20 years. According to PriceFinder, it last sold for $1,625,000 in February 2001.
The Gold Coast property failed to sell at auction on Saturday, with agents now taking expressions of interest. Photo: Lucy Cole Prestige
Brabham, an Australian racing driver and F1 world champion in 1959, 1960 and 1966, once owned the abode. The sporting legend died in May 2014.
Listed by Lucy Cole Prestige, the penthouse is a sight to behold with incredible coastline views.
The penthouse occupies two levels and boasts a rooftop pool and spacious balcony that’s perfect for entertaining.
Level one contains the open-plan lounge and dining areas, and there’s also a bedroom and ensuite with breathtaking views of the ocean.
The open-plan layout allows for ease of movement and makes the home perfect for entertaining. Photo: Lucy Cole Prestige
The second level contains the remaining bedrooms and ensuites, as well as a lounge and kitchenette, the rooftop pool and a built-in barbecue.
Interiors are modern with whitewashed walls, floor-to-ceiling windows, granite benchtops in the kitchen and top-notch appliances including a Gaggenau oven.
Mixed results across the combined capital cities were felt at Saturday’s auction day, with many properties either getting passed in or selling at their on-market value.
Over in Melbourne’s Hillside, a very modern six-bedroom, three-bathroom family home sold at its on-market value of $1,225,000, strongly hinting at its reserve price.
Over in Melbourne, a trophy home sold at its on-market value, amid Saturday’s mixed auction results. Photo: Barry Plant
The property at 14 Sovereign Way features clean lines, soaring ceilings, generously sized bedrooms, a chef’s kitchen and ample areas for entertaining.
Also in Melbourne, the property at 93A Argo Street in South Yarra was initially passed in at auction for $1.21 million. A sale was agreed for $1.28 million with the buyer after.
Listed by Kay & Burton, the two-bedroom, one-bathroom home had a price guide of $1.2 to $1.3 million.
Matt Davis, Kay & Burton’s senior sales consultant, said the buyer is a “single occupant, relocating from St. Kilda Road and upgrading from an apartment to this beautiful two bed house”.
The charming Victorian residence enhances indoor, outdoor flow and boasts high ceilings, clean lines and timber floorboards.
Despite the slow start to auction day on Saturday, the clearance rate across the combined capital cities is expected to rise in the coming weeks.
According to Domain’s latest data, last Saturday saw an improvement in the combined capitals clearance rate, hitting 60.2 per cent.
This is the highest clearance rate since April and the fourth week in a row of a clearance rate above 55 per cent.
The Real Estate Institute of Australia (REIA), Property Council of Australia (PCA) and NAB are among the groups that have welcomed the scheme, which comes into effect on Saturday, 1 October 2022.
Applauded for its introduction at a time when regional Australia battles with surging house prices, the Regional First Home Buyer Guarantee (RFHBG) program offers 10,000 places to Australians who have resided in their regional location for over 12 months, which successful applicants accommodated a 5 per cent deposit and not required to pay lenders mortgage insurance (LMI).
REIA president Hayden Groves relayed how the timing of the scheme’s beginning was pertinent, as the institute’s latest Real Estate Market Facts report found that many of Australia’s regional hubs experienced exuberant price hikes in the year preceding June 2022.
“In New South Wales, Wollongong was up 17.1 per cent while Newcastle housing saw price hikes of 13.1 per cent,” Mr Groves detailed. “In Queensland, houses on the Sunshine Coast increased by 19.6 per cent, while the Gold Coast recorded an overall rise of 17.5 per cent.
“Victoria’s regions recorded more modest growth with Ballarat and Bendigo seeing rises of 3.6 per cent.”
He believes the scheme will offer some relief to first home buyers in Australia’s regions, especially considering supply scarcity and rising interest rates have constructed tough buying conditions in these locations.
“Programs like these must be implemented in tandem with the National Plan for Housing, which must focus on building more houses in Australia’s regions and stamp duty reforms that would help address affordability,” he said.
Mr Groves’ welcoming sentiments were shared by NAB, with the big four stating it was “looking forward to helping even more Australians buy their very own home”.
Andy Kerr, NAB executive of home ownership, anticipates the program will receive strong demand for places, adding that the scheme will be crucial in making the “green change” trend birthed by the pandemic “a more permanent one for many”.
“Our latest data shows us that clearly regional areas remain appealing for first home buyers. Locations like Sunbury in Victoria, Dapto in New South Wales or Bunbury in Western Australia continue to be hotspots for first home buyers,” he said.
Building on the commendation, Ken Morrison, chief executive officer of the Property Council of Australia (PCA), believes targeted support for first home buyers living in regional Australia increases the likelihood of home ownership, especially in the face of rising prices and consequential rising deposits.
“Bridging the deposit gap is a significant problem for first-time home buyers, and the Regional First Home Buyer Guarantee scheme is a well-designed scheme that will assist eligible home buyers enter the market.
“The expansion of the Home Guarantee Scheme to support regional buyers will make it easier for more Australians to secure their dream of home ownership and is a welcomed initiative,” he concluded.
The RFHBG launch has coincided with Domain’s throwing of support behind the Regional Australia Institute’s (RAI) “Move to More”, which looks to entice metropolitan Australians to migrate to the regions. Domain revealed that keyword searches for “regional” have increased by 57 per cent over the course of 2022.
An address on the Gold Coast has long been enviable.
Famed for its iconic golden beaches and impressive surf, the stretch south of Brisbane has been a hotspot for interstate buyers and downsizers, looking for a scenery change, home to some of the country’s most notable suburbs.
Here at Urban, we’ve wrapped up the best two-bedroom apartments along the sandy strip, coming in under $1 million.
Nina, Chevron Island
The contemporary Chevron Island apartment development, Nina, by Macquarie York, has two-bedroom apartments priced from $725,000.
The $90 million development will soon rise at 8-10 Parneno Street, just around the corner form the under-construction Allure, another one of Macquarie York’s projects.
Nina will have 78 apartments over 23 storeys, including a selection of six premium skyhomes and two multi-level penthouses that offer views east to the Pacific Ocean and west to the Gold Coast Hinterland.
On the ground floor residents will have access to a secure bike storage area at the building’s entry, while a mezzanine level above the ground floor will host a wellness centre to include a yoga deck, a large gym, sauna and shower facilities, all set in lush landscaping.
Yves, Mermaid Beach
Hirsch & Faigen’s $200 million Mermaid Beach project, Yves is a contemporary collection of three towers, launched just before the end of 2021. marking Hirsch and Faigen’s third Gold Coast development.
Locals have been a driving force amongst sales so far, with over half the residences already sold.
Yves will comprise 145 apartments across three 26-level towers upon completion, designed by Rothelowman, who have been Hirsch and Faigen’s go-to architect on the Gold Coast.
Yves two-bedders start from $875,000 across 95 sqm, with two-bathrooms and one car space.
The apartments are designed with the owner-occupier in mind, benefitting from features such as integrated wine fridges, recessed drapes tracks and seamless flooring, which connects living areas to the adjoining balconies, providing a more expansive living space.
Victoria & Albert
Construction of the $1 billion Broadbeach development, Victoria & Albert, is looming, following a $200 million sales spree at the Gold Coast apartment project.
The 399-apartments are spread over two towers – Victoria and Albert – the first catering to an investor market and the second to an owner-occupier market.
Spurred by strong sales in the project’s preliminary release of apartments in its Victoria tower, Iris fast-tracked the launch of its sister-tower, Albert Residences, to meet growing demand for apartments on the Gold Coast.
Two-bedroom apartments begin from $840,000, covering 103 sqm with one-bathroom and one car space.
Albert Residences will feature 121 oversized apartments upon completion, with its own private amenity, separate from the Victoria offering, including a 25-metre heated lap pool, spa, lounge, wine cellar, gym, zen garden, steam and sauna rooms, fire pit and yoga studio, all across the level four floorplate.
The entire level 40 rooftop will also enjoy private dining space and a chef’s kitchen, along with indoor and outdoor barbecue areas, an extensive sky lounge, cellar, cards room, library, as well as multiple indoor and outdoor entertaining areas.
The project is expected to take roughly three and a half years to complete, with completion slated for January 2026.
Lagoon, Main Beach
The biggest Main Beach apartment development in three decades is being fast-tracked to the market after strong initial interest on the two-tower project.
Lagoon Main Beach, which is being developed by local Drew Group, will comprise 248 one, two and three-bedroom apartments across two towers, Sunrise and Sunset, each taking in views of either the Pacific Ocean or the hinterland.
A range of two-bed floorplans are on offer at Lagoon, with prices starting from $950,000.
With a floorspace of 125 sqm, the two-bedders also benefit from two-bathrooms and two-car spaces, located on Cronin Avenue, just 100 metres from the Tedder Avenue lifestyle precinct.
The $390 million project comes with a high-end range of amenities designed to compliment the coastal way of life, including a pool oasis with private cabanas, indoor and outdoor lounges, fitness centre, yoga deck, surfboard storage, business hub and heated spa.
Construction is expected to commence on the approved development later this year, with completion slated for mid-2025.
Amaya, Broadbeach
Amaya is set to be one of the most sought after new-build residential properties on the coast.
Signalling a return to the Gold Coast market for Canberra-based developers, Amalgamated Property Group, Amaya sits just 300 metres from the beach, with the 33-level tower delivering a mix of two and three-bedroom apartments.
The DBI-designed tower features four apartments across each of its levels, with a focus on creating and maintaining a connection with nature in each of the residences.
Having already received strong interest from both local and international markets, it’s expected the 120 luxury Amaya apartments will sell out ahead of completion which is slated for 2024.
Two-bed configurations begin from $830,000, spanning from 100 sqm or more, complete with two-bathrooms and one car space.
Future resident’s will also benefit from the development’s podium level, reminiscent of a beachside resort, featuring a sauna, steam room, resident’s lounge and dining room, a pool, gym, outdoor patio and recreation space and barbecue facilities.
Mirador, Chevron Island
Set in the heart of the Chevron Island village comes Citimark Properties’ Mirador.
After the group cut apartment numbers from 164 to just 71, making the development more high-end, the residences feature larger floorplans, delivering a mix of two, three and four-bedrooms.
A unique blend of built form and nature, Mirador has been designed by Cottee Parker as part of the coastal identity of the island.
The two-bedroom apartments start from $895,000 in Mirador, with two-bathrooms and one car space.
Extensive landscaping is also a key design feature, with cascading greenery softening the built form whilst providing a lush subtropical backdrop to the residential recreational spaces including the pool, gym, wellness and barbecue areas.
