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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