a selection of the gold coast’s finest...
TRANSCRIPT
A selection of the Gold Coast’s
finest projects
WELCOME to the Ray White Projects lift-out, where we review what’s driving the growth of the Gold Coast market and take a look inside some of the city’s most exciting new projects.
For the first time in some years, we entered 2014 in a
healthy market – not oversupplied, but with green shoots
of recovery having emerged. With a ‘clean slate’ of sorts,
the market for new projects kicked off with great strength.
This year marked the first in our new development cycle.
2014 saw developers bring their projects to market as
they identified buyer demand at a level not seen since
the advent of the GFC. Interest from overseas investors,
particularly from Asia, has been one of the driving forces
for new projects.
The Gold Coast is getting ready to roll out the welcome
mat for the 2018 Commonwealth Games which is now
less than four years away. Our light rail system is up and
running and has been received by locals and visitors even
better than expected. Two of the city’s premier lifestyle
assets, being Jupiters Hotel and Casino and Pacific
Fair, are both in the throes of multi-hundred million dollar
redevelopments. Work is underway on the $1 billion Jewel
project at Surfers Paradise and a proposal has been put
forward for the development of a cruise ship terminal. The
Gold Coast is telling the world: “we’re open for business”.
All this has culminated in a true sense of optimism about
what the future holds for the city. Several Asia-based
developers – who scope out investment opportunities
across the world – are choosing to move ahead with major
residential projects on the Gold Coast. That alone tells a
compelling story about the future of the market here.
For now, we’re preparing for one of our busiest periods of
the year. January is one of the most active sales months
for projects – here on the Gold Coast we have the benefit
of an influx of interstate and overseas visitors here for the
holidays.
If you’re ready to get into the market, let us help you find
your next home or investment. We pride ourselves on
delivering great service and helping buyers find the right
property.
All the best for a happy and prosperous 2015 from the
team at Ray White Projects.
Julian Sutherland
Director
Ray White Projects
Part of the Ray White
Surfers Paradise Group
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A WAVE of public and private investment in Southport has reignited
buyer interest across the resurgent suburb, according to Ray White
New Projects.
The agency, part of the Ray White Surfers Paradise Group, has
reported strong sales in the Oceans Apartments, 8 on Norman and
Metro 88 projects it is currently marketing.
Ray White New Projects director Julian Sutherland said significant
public infrastructure investment followed by Southport’s declaration
as a Priority Development Area and as the Gold Coast’s CBD had
seen interest in the area surge.
“The Queensland Government and Gold Coast City Council poured
a lot of resources into infrastructure projects such as the light rail,
Broadwater Parklands, Aquatic Centre and Chinatown,” he said.
“This has been partly driven by the city’s hosting of the 2018
Commonwealth Games and Southport’s key role in that event as
the location of the games village and the aquatics events.
“The magnitude of public investment has fired up the private sector
which saw that vision for Southport as the Gold Coast CBD.”
Mr Sutherland said the PDA declaration - allowing unlimited height
and density, and the fast-tracking of development applications –
had also galvanised private development.
“The PDA sent the message to developers that the sky was really
the limit in Southport and that the state and local governments are
serious it being the Gold Coast CBD,” he said.
Gold Coast property researcher Colleen Coyne said around 35
development applications had been lodged under the Southport
PDA in the 15 months since its inception.
“Most have gained approval in a short timeframe,” she said.
Ms Coyne said more than 5000 apartments were proposed under
the Southport PDA, including Meriton’s 551-unit Sundale which,
along with at least five other projects, is now under construction
Among those projects to have secured approval is Azzura
International Construction’s 104-level Imperial City.
The building will comprise 2200 tourist and residential apartments
and will be Australia’s tallest high rise.
There are also plans to transform the 1.5 hectare Star of the Sea site
into a huge mixed-use development while the State Government
is considering the $7.5 billion cruise ship terminal and integrated
resort development earmarked on nearby Wavebreak Island.
Mr Sutherland said the quality and quantity of development activity
in and around Southport had piqued the interest of local, interstate
and overseas buyers.
He said a high percentage of sales in one recent project had been to
Asian buyers drawn by the area’s renaissance and the development
of a Chinatown precinct.
“In that particular development, 42 per cent of the apartment buyers
were from Asia,” he said.
“Chinatown, in particular, is viewed as a positive move and it is
generating strong interest from Asia-based parties.”
Ms Coyne said Queensland Government figures revealed
Southport’s estimated residential population of just over 30,000
was expected to grow to more than 40,000 by 2021 and more
than double to almost 70,000 by 2036.
Urban Renewal Fires Up Southport Sales
luxury living in the
heart of the gold coast
apartments from $533,000
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