A selection of the Gold Coast s finest projects

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1 A selection of the Gold Coast s finest projects

2 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 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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12 Urban Renewal Fires Up Southport Sales 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.

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