Queensland real estate wrap: 22 May 2023

Developers are enticing luxury buyers to the Gold Coast with exclusive resident only clubs, investing substantially into some of the industry’s finest amenities.

Several acquisitions and construction commencements also took place across the Sunshine State, with Brisbane to soon see more build-to-rent apartments.

Construction begins on Monarch Residences

The $450 million project in Toowong has commenced construction, with $160 million worth of apartments already sold since the March launch.

Constructed by Hutchinson Builders, the project is situated on a 1.2 hectare site with 130 metres of river frontage, and comprises 224 apartments and penthouse residences across two buildings.

The project is being delivered by Consolidated Properties Group in conjunction with funding partner Qualitas.

Consolidated Properties Group purchased the Monarch site at 600 Coronation Drive for $43.5 million from Sunland in March 2021. The development application was filed in November 2021 and approved in July last year.

Monarch Residences is anticipated to be completed in late-2025.

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DA approved Brisbane site acquired for $5M

A prime inner city development site with uninterrupted views of the CBD and development approval for a 12 story luxury residential apartment complex has been sold by Colliers agents Nick Wedge, James Matley and Hunter Higgins.

The corner site comprises 37 Leichhardt Street, and 8 and 10 Downing Street. Sold to ACT based Addval Developments, Colliers Director Investment Services Nick Wedge said the property represented one of the best ‘infill’ residential development sites, in the tightly held and highly sought-after suburb of Spring Hill.

“With development approval in place for 15 luxury residential apartments over 12 levels with the refurbishment of the existing heritage dwelling on site, this provided a great investment opportunity,” Wedge said.

“Based on historical demand and likely anticipated supply, Inner Brisbane will experience a shortfall of 16,000 new apartments over the next four years.”

Colliers Residential Site Sales Executive James Matley said the site is located less than 1 kilometre from Brisbane’s CBD and provides a great opportunity for the purchaser.

“While it already has development approval for residential units, it is zoned as mixed use 1, allowing for a range of development outcomes,” said Matley.

“The zoning provides opportunities including residential, mixed use, retirement/aged care, build to rent, student accommodation, office, a hotel or serviced accommodation, commercial, medical, retail as well as child care, all subject to council approval.”

Exclusive clubs entice buyers to the Gold Coast

Luxury residences are putting up their finest offerings to attract buyers to developments up and down the coast, with developers investing hundreds of millions into exclusive and private resident clubs.

The Espirit by S&S projects includes a residential wellness retreat, offering residents the opportunity to reconnect, renew and replenish their mind, body, and spirit, across 1,100 square metres of rooftop amenities.

Club Espirit includes a fully equipped gym, yoga lawn, remedial treatment room, ice bath, infrared sauna, steam rooms, 25-metre lap pool, and poolside cabanas.

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Club One at Chevron One Residences is another example of developers sparing no expense, encouraging residents to live in a constant holiday state of mind. The club comes with a fully equipped gym, yoga studio, outdoor pool and spa ensconced by landscaped greenery, sculpture garden, Residents’ Lounge, and elegant dining area designed by Shannon Bennet.

The Ocean Club at Masthead Ocean Club provides members with unique in-house amenities, including a sophisticated wine and champagne lounge, whiskey and cigar room, private dining space, coffee bar, sky-high library, and business meeting areas.

Ocean Club members will also have 24/7 access to a world-class Health & Wellness Club, including a heated wet edge pool, marbled hot and cold plunge pools, spa, steam room, sauna, gym, yoga, and pilates studios.

Brisbane BTR breaks ground

Exhibition Quarter, a build-to-rent residential apartment building at Brisbane Showgrounds in Queensland, broke ground this month, with the property to deliver 443 residences over 37 levels.

With a strong focus on health and wellbeing, premium amenities and communal spaces, Exhibition Quarter will include a 25 metre lap pool with beach edge, fully equipped gym, outdoor spa retreat, yoga room as well as podcast and music recording studios, BBQ pavilion, co-working amenities, dog wash facilities and resident lounges.

Residents will also have access to a 24-hour first class concierge service, as well as 225 car parks and 471 bike spaces on the podium level.

Exhibition Quarter will be fully electric with no gas, enabling it to be 100% powered by renewable electricity, and will target a 5 Star Green Star Buildings Version 1 rating.

Completion is expected in late 2025.

QuadReal is a joint venture partner and co-owner of the development with Lendlease, with Lendlease also acting as development manager and investment manager.

Forty per cent in four weeks

The Rochester Broadbeach has seen 40% of apartments sold after just four weeks on the market. The $275 million apartment building is a collection of 170 residences across 39 storeys.

Being developed by Polycell Property Group, The Rochester Broadbeach has been designed in collaboration with award-winning architectural firms BDA Architecture and Rothelowman to transform the prime 1813 square metre corner block site fronting Surf Parade and Britannia Avenue, just a three-minute walk from the beach.

$41M in sales over three months

The Royale Gold Coast has seen apartment buyers snap up residences at the $435 million development across the summer.

The 38 storey tower comprises 104 apartments on absolute beachfront with exclusive six-star resort-style amenities, being delivered by renowned property developer David Devine and his team at DD Living.

The sales of Royale Gold Coast apartments are being managed by luxury apartment marketing agency TOTAL Property Group which has reported the successful $41 million sales achieved over the summer months.

The property is located at 7-9 Northcliffe Terrace.

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Sunrise through the floor-to-ceiling windows of the Royale Beach Home master bedroom – artist impression.

Jewel releases 30 more apartments

After selling out all 40 apartments in the Stage One release to achieve $82 million in sales within a few months of launching, Jewel Private Residences is now releasing another 30 premium apartments to the market in the Sapphire Collection.

The apartments are located across Tower 1 of Jewel, the completed $1.5 billion three-tower iconic landmark precinct on absolute beachfront, encompassing the five-star hotel tower The Langham, Gold Coast and two residential towers of premium private residences.

Jewel was developed by leading Australian investment and development company, AW Holding Group.

33 Manning 50% milestone

The 130 apartment tower in Brisbane’s inner west is now half sold out, following a strong run of sales since its launch in February this year.

Developer, Goldfields, said the majority of buyers are owner occupiers seeking value in a city-fringe riverside suburb, access to quality amenities, and forward thinking design.

Located in Milton, 2km from the Brisbane CBD and adjacent to the Park Road precinct, 33 Manning offers one, two and three bedroom apartments set over 18 storeys with breathtaking city and river views, a rooftop pool and close proximity to transport options.

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33 Manning
33 Manning Street, Milton QLD 4064

Article source: Queensland Property Investor