PLANS AND DOCUMENTS referred to in the DEVELOPMENT APPROVAL PN129744/23/DA2 Application No:. 20 November 2014 Dated:.. Development shall comply with the conditions of approval as detailed in the Decision Notice and Council s Planning Scheme, Local Laws and Planning Policies 358
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The purpose of this guide is to introduce The Meadows, a residential community developed by Leda. The Meadows is a 1,260 lot master planned community located on the Gold Coast, Australia within walking distance of Gainsborough Greens golf course and just minutes from major Gold Coast theme parks and a wide range of recreational, employment and shopping facilities. The planning schemes for the region are already looking beyond 2020, with the existing Coomera Railway Station in place and a proposed busrail interchange, two schools, shopping centres, medical facilities and recreation areas set to follow. The Meadows Development, and all it has to offer, is detailed further in this document - refer to pages 17 to 22. To fully appreciate the unique opportunity represented by The Meadows development, the regional context must first be examined in terms of demographic, housing market and infrastructure analysis. Pimpama is located in the Gold Coast s Northern Growth Corridor which is one of the most dynamic and rapidly growing regions within South East Queensland with residential land in short supply. Pimpama lies only 25 minutes away from the world-famous beaches of Surfers Paradise on the Gold Coast and is only a 35 minute drive from the Brisbane CBD. Some of the region s finest natural features lie at the doorstep including the Gold Coast hinterland to the west and to the east is the Gold Coast Broadwater and the suburbs of Hope Island and Sanctuary Cove, both of which are canal and resort-based suburbs with extensive canal systems, marinas, shopping facilities and golf courses. The M1 Motorway bisects the suburb; allowing fast and convenient connections to the Southern Gold Coast, Logan City and Brisbane. Pimpama is located adjacent to the M1 Highway, the main highway connecting Brisbane CBD with the Gold Coast and New South Wales. The Coomera and Ormeau train stations are a short drive from The Meadows providing convenient access to the South East Queensland rail network. Pimpama and its surrounds boast a variety of educational institutions including both public and private secondary schools. Within the immediate area are four primary schools including Oxenford, Helensvale, Coomera and Pimpama State Schools as well as Helensvale and Coombabah State High Schools. There are also a number of private schooling options including Saint Stephens Anglican College and Assisi Catholic College. Coomera TAFE provides an excellent opportunity for tertiary education in the region. Shopping facilities are many and varied within the Pimpama region and its immediate surrounds. The recently completed Pimpama Junction is located a few hundred meters from The Meadows on the corner of Yawalpah Road and Dixon Drive. Upper Coomera Shopping Centre and Oxenford Central Markets are located within a short drive providing further options for shopping, supermarkets and specialty stores. In addition, the nearby Westfield Helensvale Town Centre is a large regional centre, which includes a number or major retail and specialty stores. The lifestyle for residents of Pimpama is further enhanced by the significant entertainment and recreational activities available in the region. The area is the theme park capital of Australia, with Wet n Wild, Movieworld and Dreamworld a few minutes away by car. Another significant recreational option available to residents is the Gold Coast City Marina in Coomera, which contains 200 berths. Key amenities are explored further within this document - refer pages 11 to 16. These include Pimpama Junction, Coomera Town Centre and Pimpama State Secondary College.
GOLD COAST DEMOGRAPHICS The estimated population of the greater Pimpama region as of 30 th June 2012 was 39,948 with an influx of approximately 27,557 people over the decade since 2002. This reflects an average growth rate of 12.4% per year which is more than 5 times greater than the Queensland average growth rate for the same period. From 2011 to 2036, the population for the greater Pimpama region is projected to increase from 36,956 to 173,669 persons Source: QLD Treasury and Trade page 5
SUSTAINABLE GROWTH Despite the double-digit annual growth over the past 10 years, the greater region is expected to sustain this growth. According to State Government projections, the population will increase to over 170,000 by 2036 at an average growth of 6.3% per year. Specifically, the Pimpama statistical area is projected to grow at the highest rate of the region at 9.7% until the year 2036. These growth projections are outlined in the below tables. Source: QLD Treasury and Trade Source: QLD Treasury and Trade
LAND VALUES SET TO SKYROCKET The Pimpama region is home to a young demographic with more than three quarters of the population under the age of 45 and 94.4% under the age of 65. The median age is 29.8 years which is 6.8 years younger than the Queensland average. With the family composition predominately couples with children, this range in demography lends itself to a demand for a variety of housing markets. The Housing Industry Association (HIA), a peak economic body for residential property, predicts Australia will be half a million houses short by the end of this decade. RESIDENTIAL LAND AUSTRALIA - VALUE SALES Source: HIA Source: HIA page 7
This prediction is echoed by the Australian Government Treasury Department which has reported a growing deficit of approximately 40,000 houses every year. This is good news for property investors, with demand outstripping supply likely to result in significantly increased average residential prices. According to RP Data, in the last eight years, residential land in Australia has risen in price 250%. The Treasury Department has predicted the Australian population to grow from 21 million to 42 million by 2050 which is driving the housing shortage. RESIDENTIAL LAND AUSTRALIA - PRICE PER M 2 MEDIAN PRICE GROWTH Source: RP Data Source: RP Data
THE HOUSING MARKET The findings of a 2013 broad hectare study of the Gold Coast by Queensland Treasury and Trade found that the total area of broad hectare land available for residential development in the Gold Coast region available for residential development is 3,964 hectares. If this land were fully developed, it has the potential to deliver just over 52,000 dwellings and accommodate 125,000 people. Based on the current medium series household projections and the expected broadhectare dwelling yield, the available residential land stock indicates approximately nine years of supply only. Queensland Government Statistician Broad hectare Study 2013 If you look at the house and land sales on the Gold Coast back to the 1960 s, there is a clear 7 year cycle. So the timing of the new boom is consistent with that cycle Financial Review Bill Morris, predicting the start of the next property boom Another factor supporting price point recovery, is investor confidence that is beginning to surge in the region. This is being driven by strong rental returns and low vacancy rates at the affordable, entry-level property sector. Additionally, the potential for high capital growth into the future is driving demand and sales rates. This has assisted strong price recoveries, expected to increase further with population growth which will fuel demand and ultimately feed back into upward pressure on house prices. The median house price has consistently appreciated since 2012, which is a testament to the continuing popularity of the area. As consumer confidence continues to grow, an increase in demand for this type of property is expected to grow along with it. This will underpin strong rental prices and ultimately capital growth for investors. ECONOMIC DRIVERS Interest Rates : Interest rates are at historically low levels and appear to be sustainable for the near future. Population Growth : More than 10,000 people per year are relocating to the Gold Coast. The biggest increase since the GFC. The Gold Coast is the fastest growing regional city in Australia. The Gold Coast s northern suburbs of Pimpama, Coomera and Ormeau are the nation s fastest growing regional suburbs. Housing Shortage : There were only 2,500 dwellings approved in 2012-2013, however 4,000 are needed to accommodate the increasing population. Commonwealth Games : The 2018 Commonwealth Games are being hosted on the Gold Coast, bringing an economic benefit of up to 1.9 billion with up to 30,000 full time jobs created. A multi-purpose indoor sports facility will be built in Coomera to support the Games. Infrastructure Projects : Numerous infrastructure projects are further driving the housing demand including; the Gold Coast Airport master plan approval, Griffith University Hospital, the Gold Coast light rail project which is one of the largest in the country is now complete. The soon to be constructed Coomera Town Centre that will include two department stores, a supermarket and specialist stores. Rental Demand : RP data reports that median weekly rents are up 2.3% for houses per week for houses and up 5.3% for units over the same period last year. Employment : There is an abundance of employment opportunities for residents of the Pimpama region. Pimpama has long been targeted by local council as an industry, employment and population growth region and as such there is strong demand for apprentices and trades people in the area, as well as employment in commerce and industry. Additional employment is easily accessible to residents, in major commercial hubs including the Gold Coast and Brisbane given the close proximity and major connection routes.
For space, a little tranquility and a reasonable price tag, home hunters can t go past Pimpama Source REIQ..the high accessibility to South East Queensland s major commercial hubs, along with the education, employment and shopping facilities supporting the growth of the region, a bright future is in store for residents and investors in the form of strong rental prices and continued capital growth Source Urban Capital Projects Property Market Snapshot 2014 Pimpama is experiencing strong population, economic and capital growth. With the ample local amenities and convenience of easy access to Brisbane and the Gold Coast, rental returns should remain strong. In the long term investors should expect capital gains while retaining a reliable rental income Source Urban Capital Projects Property Market Snapshot 2014 Source Queensland Government Statistician Broad hectare Study 2013 The median $410 per week As at April 2014, the median rental return for a 4 bedroom home in Pimpama based on 12 months rental listings. Providing a yield of over 5.3% for a 400k home Source: Urban Capital Projects Property Market Snapshot 2014 450k approximate average house price as of April 2014 Source: Urban Capital Projects Property Market Snapshot 2014 Statistic 17.5% growth in housing prices over 12 months to 31st July 2013 Source: Databank/Market Watch
INVESTMENT IN PIMPAMA Pimpama has been identified by the Gold Coast City Council as an area of rapid growth which will lead to continued government investment and infrastructure. Infrastructure development spending in the northern corridor has seen a considerable increase over the past several years with the addition of a major rail project, The duplication of the rail line between Coomera and Helensvale is a $500 million project and is the largest added to the development pipeline in the Coomera area. The total development either planned or underway across all sectors is $5.224 billion. The infrastructure sector in the Coomera area, which includes Upper Coomera, Guanaba, Maudsland, Pimpama, Oxenford and Wongawallen, has a total of $626.3 million of projects in the pipeline, which is an increase of $490.5 million from the year prior. Australian Bureau of Statistics records show that the Pimpama-Coomera area is the largest growth area of the Gold Coast, with a population increase of over 14% per annum over five years between 2006 and 2011. This population growth has fueled the significant amount of residential development activity in the area and is expected to continue to grow. In addition, a $50 million new state primary school is currently under construction within The Meadows and will open in early 2015 (refer to location map page 16). This will compliment the recently completed Coomera Rivers State Primary School on Finnegan Way and the TAFE College on land situated on the Southern side of Foxwell Road. The Coomera area has a total of $626.3 million of projects in the pipeline, which is an increase of $490.5 million from the year prior. Source: Colliers International Coomera TAFE A $31 million project with state of the art facilities and equipment New State Primary School A $50 million project servicing the rapidly growing Pimpama and Coomera regions, located within The Meadows, (refer to Location map page 16). Pimpama State Secondary College Now Complete Upper Coomera Community Hub A $23.5 million project, this development will include a library, multi-purpose community centre, aquatic facilities, public plaza areas, walking and cycling trails. This significant development received funding from the Federal Government. Pimpama Junction A major shopping centre - $30 million Coomera Town Centre A $1 billion project Coomera Marine Industry Precinct Upgrade - $530 million project. Rezoning of land around Dreamworld, which is set to be developed into a major mixed us precinct with major shopping centres. This will become a focal point of the growth corridor. Gold Coast university Hospital 1.8 billion project page 11
The following section of this document will explore some of the key infrastructure projects and recently completed amenity provisions in further detail. Situated only 35 minutes south of Brisbane and 25 minutes north of the Gold Coast, Pimpama Junction responds to the unprecedented growth in the local area by delivering a new benchmark in convenient shopping in a family friendly environment. Extensive research and community consultation underpins the vision for this development. The result is a modern town centre, designed to provide a convenient shopping experience in a family friendly environment. Pimpama Junction offers so much more than a shopping experience, it s the place where locals meet. The shopping centre includes a medical precinct and specialty convenience shops, take away food and restaurants. The retail centre is anchored by the largest supermarket in its primary catchment. The latest generation Woolworths will transform the fresh food shopping experience and will be complimented by a diverse mix of shops and services specifically targeted to meet the needs of the local community. Designed for convenience, the retail centre will be easily accessible at two points and is supported by around 300 easy to reach car parks. The convenience centre has been designed to cater for the community and provide an attractive design to engage with its rapidly evolving family friendly community, allowing for slow and safe vehicle movements, pedestrian friendly footpaths and alfresco dining areas to ensure a vibrant local centre. Located within a stone s-throw of The Meadows, Pimpama Junction will cater for the Pimpama region and provide a local hub for residents of The Meadows. The site is being developed by Tipalea Partners and construction commenced in June 2013. The shopping centre opened its doors in mid June 2014. Anchored by the largest supermarket in its primary catchment, the retail centre will set a new benchmark for convenient shopping. page 12
COOMERA TOWN CENTRE The Coomera Town Centre is a 34 hectare greenfield site within the Gold Coast s growth corridor. The location of the town centre and the associated expected growth will make the project a key driver in the Gold Coast s economy, serving as a catchment of regional significance. The Centre will accommodate key concentrations of employment and a significant residential population increase. The Town Centre will provide a range of business, service and retail functions as well as a district or branch offices of government, and cultural and entertainment facilities of regional significance. Westfield s partnership with Queensland Investment Corporation has been a step forward, with the development being declared of State Significance. On this basis the project has been given a significant cost saving on council infrastructure. Westfield have recently submitted plans for development of a 88,000m2 shopping centre A major development including Myer, Woolworths, Coles, over 80 specialty stores plus a cinema complex and tavern... The Coomera railway station will form the heart of the Town Centre with surrounding development encouraging people to live and work in the area. This will contribute to the emphasis on a Pedestrian Oriented Development (POD) with walking, cycling and public transport being used to navigate into and around the Town Centre. It is envisaged that the Coomera Town Centre will become an active and vibrant centre for the region accommodating a mix of uses in close proximity to the train station. My Centre Nerang Westfield Helensvale Harbourtown Runaway Bay Shopping Centre Homeworld Helensvale Sanctuary Cove Marina Village Coomera City Centre Coomera Town Centre TARGET DATE 2015-2016 ipeline, which is an page 13
MARINAS Australia s largest recreational boat building industry is located on the Gold Coast with over 600 marine companies. Based on extensive waterways, accessibility to the ocean, the strong appeal of recreational boating, moderate water temperature, and a climate conducive to boating and highly suitable for fiberglassing, the Gold Coast has become the key Australian centre for production of recreational craft. Gold Coast City has developed a national and international profile as a producer of pleasure craft and as a place for storing, servicing and enjoying such vessels. The industry is concentrated around the Gold Coast Marine Precinct, Coomera River, Sanctuary Cove, Steiglitz, Broadwater, Ernest / Molendinar and Burleigh Junction. > > > > > > 646 actively trading businesses identified Median business age of 14.5 years Estimated annual revenue $419.9 million Estimated 2,349 full time equivalent employees 10.0% of businesses exporting Major exporting regions include New Zealand / Pacific, South East Asia, North Asia / Japan and North America. A new $530 million Coomera Marine Precinct Expansion plan is forecast to generate 4,800 jobs in construction phase and 4,600 in ongoing employment. Source: Marine Industry Business Profile 2011 Business GC Runaway Bay Marina Hope Island Resort Marina Gold Coast City Marina Sanctuary Cove Marina Coomera Waters Marina Calipso Bay Marina page 14
EDUCATION The Pimpama State Secondary College opened on 29 January 2013 catering for years 7 and 8 initially. Enrolments for 2015 will be accepted from the start of Term 2 for grades 7, 8, 9 and 10. The College features large playing fields and open space for students to congregate, with outdoor study and teaching areas to promote active and engaged students. As illustrated on this page, the College is located just metres from The Meadows. A $50 million new state primary school, located within The Meadows, began construction in 2014 (refer to Location map this page). Pimpama and its surrounds boast a variety of educational institutions including both public and private secondary schools. Within the immediate area are four primary schools including Oxenford, Helensvale, Coomera and Pimpama State Schools as well as Helensvale, Coombabah State High Schools. There are also a number of private schooling options including Saint Stephens Anglican College and Assisi Catholic College. Coomera TAFE provides an excellent opportunity for tertiary education in the region. The Gold Coast has some of Australia s finest education facilities and is home to four universities; Bond University, Australia s highest rating university for Overall Graduate Satisfaction; Southern Cross University with its brand new Gold Coast campus offers an individual student and quality education experience; Griffith University the Gold Coast s largest university campus; and Central Queensland University, with a campus located in the heart of the Gold Coast in Southport (CBD). These combine together to offer a collection of world class higher education options. St Francis Xavier Primary School Coombabah Primary School Helensvale Primary School New State Primary School located within The Meadows (refer map this sheet) Upper Coomera State School Coomera Anglican College Assisi Catholic College Coomera Springs State School Pimpama Primary School Livingstone Christian College Lutheran Ormeau Rivers District School Ormeau Primary School page 15
TOURISM From some of Australia s best beaches, rainforests and waterways to world class theme parks, sporting venues, convention services, diverse events, cultural activities, hotels and resorts, the Gold Coast s tourism assets provide an enviable lifestyle and a platform for growth. Tourism is a key driver in the local economy contributing almost one dollar in every five generated within the city. The diverse business and leisure tourism products attract domestic and international visitors year round, off-setting the seasonal peaks and troughs traditionally experienced by seaside destinations. The sub-tropical climate sees almost 300 days of sunshine annually and average ocean temperature of 22 C (71 F) offers year round swimming. Winters are mild and comfortable and summer maximum temperatures average around 29 C (83 F). Around 10 million tourists visit the Gold Coast area every year: of 849,114 international visitors, 3,468,000 domestic overnight visitors and 5,366,000 day trip visitors. Tourism is the region s biggest industry, directly contributing more than $4.4 billion into the city economy every year and directly accounting for one in four jobs in the city. There are approximately 65,000 bed spaces, 60 kilometres of beach, 600 kilometres of canals, 100,000 hectares of nature reserve, 500 restaurants, 40 golf courses and five major theme parks in the city. There have been various prospects and proposals raised for even more theme parks than the current five. Gold Coast Airport provides connections across Australia with airlines including Jetstar, Virgin Australia and Tiger Airways. International services from Japan, New Zealand, Singapore and Malaysia also land at Gold Coast Airport with airlines including Flyscoot, Jetstar, Qantas, Air New Zealand, Virgin Australia and Airasia X. Brisbane Airport is less than one hour from the centre of the Gold Coast, with trains connecting the two destinations. The theme parks have provided the backbone to the Gold Coast s tourism industry over the last twenty years and have a continued market spend in the order of $20 25 million attracting thousands of visitors each year to the region. THE NUMBERS > > > > > > > > Largest concentration of themed attractions in the southern hemisphere. First convention centre in the world to achieve the Earth Check Gold Certification. More than 10 million visitors annually. 22.4 million annual visitor nights. Over $4 billion in total visitor expenditure. $1.5 billion in value add to the local economy. 27,000 people employed. 151 hotels, motels and serviced apartments Key markets: Australia, China, New Zealand, United Kingdom, South East Asia, Europe, North America and Gulf countries. Dreamworld Sea World Wet n Wild Water World Warner Bros. Movie World White Water World Currumbin Wildlife Sanctuary David Fleay Wildlife Park Australian Outback Spectacular 10 million tourists visit the Gold Coast area every year: of 849,114 international visitors, 3,468,000 domestic overnight visitors and 5,366,000 daytrip visitors.
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SECURE YOUR FUTURE BEFORE PRICES RISE AND LAND IS GONE
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MEDIA Pimpama s population is growing faster than anywhere else in the city, jumping more than 10% in the last financial year alone. A major retail development underway in the Gold Coast s growth corridor is tipped to deliver an employment bonanza......the Pimpama growth projections were unlike any other area of south-east Queensland and that was one of the key drawcards for Woolworths. page 23
Pimpama is emerging as one of the most highly sought after locations, with residential land sales soaring... The sizzling northern corridor is getting even hotter, with reports land prices are rising and sale numbers climbing......land prices trending upwards in Coomera and Pimpama after development plans for the long-awaited Coomera Town Centre were lodged with the council page 24
Pimpama is tipped to be the population hotspot of the Gold Coast in the next decade... A report by the ABS and QLD Government shows Pimpama- Coomera will grow almost four times fatser than it did in the decade to 2011, with 33,000 extra people expected to move into the area by 2021... page 25
Figures from realestate.com.au put Coomera at the top of the list of regional suburbs clicked on by property hunters... MEDIA
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DISCLAIMER This document does not purport to contain all the information that any potential Purchaser, their respective officers, employees, agents, advisors, shareholders and associates or its related entities or any other interested party (collectively the Purchaser) may require. It does not take into account the individual circumstances, financial situation, investment objectives or requirements of the potential Purchaser. It is intended to be used as a guide only and does not constitute advice, including without limitation, investment or any other type of advice. The parties or any of their respective officers, partners, employees or consultants give no assurances, representations or warranties that the information and any other verbal or written information in respect the Property are accurate, current, complete or balanced. None of the Parties assume any obligation to the potential Purchaser to provide additional information or updated information or to correct any inaccuracies in this document which may become apparent or will be liable for any loss or damage resulting from this document or any other information that the potential Purchaser relies on. This document may contain information prepared by third parties. Figures, calculations and other information contained in this document that has been provided to the Parties by third parties have not been independently verified by the Parties. Any projections or analyses represent best estimates only and may be based on assumptions, which, while reasonable, may not be correct. Past performance of any property described in this document is not a reliable indication of future performance of such property. Any forecasts included in this document are based on a large number of assumptions and are subject to significant uncertainties and contingencies. No representation is made that any forecast will be achieved. Actual future events may vary significantly from the forecasts. The potential Purchaser should not rely on this document or the information as a statement or representation of fact and must make their own inquiries to verify and satisfy themselves of all aspects of such information, including without limitation, any income, rentals, dimensions, areas, zoning and permits. While the information in this document has been prepared in good faith and with due care, no representations or warranties are made (express or implied) as to the accuracy, currency, completeness, suitability or otherwise of such information. The Parties and their officers, employees, subcontractors and agents shall not be liable (except to the extent that the liability under statute or by operation of law cannot be excluded) to any person for any loss, liability, damage or expense arising directly or indirectly from or connected in any way with any use of or reliance on such information. This disclaimer does not exclude any statutory rights you may have which cannot be excluded. To the extent that any of the above paragraphs may be construed as being a contravention of any law of the State or the Commonwealth, such paragraphs should be read down, severed or both as the case may require and the remaining paragraphs shall continue to have full force and effect.