Gold-Coast-developments
Developments continue apace on the Gold Coast. Image supplied
  • A Southport site has sold for $6M, while the $30M Waverley Residences are for sale
  • Sherpa acquires two new sites for future developments
  • Little Projects announces another project, as does Devine Living with the Royale

The taste for more Gold Coast developments continues unabated, with no less than six new projects announced in the past week:

Southport site sells at auction for $6 million

A prime redevelopment site in the heart of Southport’s CBD has sold under the hammer for $6 million plus GST in the first major commercial deal on the Gold Coast since Brisbane won the hosting rights for the 2032 Olympic Games.

The property, located at 114 Scarborough Street on the corner of Hicks Street, attracted strong interest from local and interstate parties following a marketing campaign managed by Steven King, James Crawford and Sam Biggins of Colliers International.

Scarborough
114 Scarborough Street. Image supplied.

“Sales activity for high-density-zoned development sites in Southport has been relatively subdued this year compared to the rest of the Gold Coast market.

“While sites in southern beachside markets continue to attract record prices, this sale demonstrates that Southport has begun its development site rebound,” said Mr King.

Interest in the property was heightened by an existing development approval for a mixed-use project comprising a 47-level hotel and residential apartments.

The site, totalling 2430sqm, is fully cleared and was sold under instruction from receivers. It has been bought by a private local buyer with the sale price struck at $2,469 per square metre.

“There’s no doubt securing the Games has given the market an added confidence boost,” said Mr King.

$30 million The Waverley

Central Gold Coast continues to undergo a transformation with the launch of Busikon’s $30 million The Waverley Residences set to rise in the heart of the community precinct.

Buyers are now able to get their hands on The Waverley Residence’s apartment range, including 14 x 3 beds; 32 x 2 beds; and 14 x 1-bedroom homes; across eight storeys.

The Waverley Residences
The Waverley Residences, rooftop. Image supplied

A rooftop terrace will sit on the top complete with a fully equipped gym, outdoor lounges, dedicated BBQ areas and a private dining space.

The Waverley Residences shows good value for money in the booming real estate market, with prices between $345,000 and $680,000.

Sherpa acquires two new project sites

Sherpa Property Group is spreading its wings across the Gold Coast with the acquisition of two sites on the north and south shore sending its current workbook value over the $250 million mark.

Located on a prime esplanade parcel at 536 Marine Parade, Biggera Waters, Sherpa’s ‘Perspective Broadwater’ luxury apartments will mark the company’s first foray north of Burleigh Heads.

Sherpa's Palm Beach acquisition
Sherpa’s Palm Beach acquisition. Image supplied.

The company’s next project ‘Perspective Nexus’ will showcase thirty 3-bedroom apartments targeted at owner-occupiers, with an additional 4 penthouses.

The two new projects have a combined value of over $100 million, adding to the $150 million in projects Sherpa currently has under construction and development.

Little Projects at Broadbeach

Little Projects Co has unveiled plans for a boutique residential apartment project set in the heart of Broadbeach.

In a rare offering for the Broadbeach market, 20 Mary Avenue will showcase a collection of 29 full floor and double storey apartments.

Little Projects Co, which has another project under construction with its $200 million Signature Broadbeach, has lodged the plans with the Gold Coast council for 20 Mary Avenue Broadbeach, which is compliant with the town plan for the area.

Royale Gold Coast

The recently-announced Royale Gold Coast, planned for a beachfront site at Northcliffe, will incorporate a limited number of three and four-bedroom apartments on the lower levels to optimise the unobstructed beach views.

David Devine’s Devine Living has taken a different approach by placing a collection of premium apartments on the lower floors of Royale Gold Coast for prestige property buyers that prefer the lower levels for beachfront living.

Royale Gold Coast
Royale Gold Coast. Image supplied.

Priced from $4.9million, these premium lower level residences are a limited opportunity in this new $370million Royale Gold Coast, with 104 elegantly appointed two, three and four-bedroom private residences, sky homes and penthouses on the beach.

“It is from my own experience that I have come to understand the value of premium penthouse-size apartments being on the lower floors when living directly on the beach,” said Devine Living CEO David Devine.

“While it is nice to enjoy the wide open ocean views and tranquillity of a sky home or penthouse, there are many people who prefer living on the lower floors to enjoy views of the beach, but still want to live in a premium, sub-penthouse style apartment.”

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