Gold Coast off the plan apartments

Buyer demand across the country is shifting to units as housing affordability continues to put a strain on budgets.

Research by property data analytics company CoreLogic shows worsening affordability, particularly in capital city markets where house prices have soared.

CoreLogic Economist Kaytlin Ezzy says demand is now tilting towards unit and apartment living due to affordability concerns, particularly in capital cities.

"House values surged nearly 40 per cent since March 2020, while unit values rose 17.9 per cent, indicating the widening gap between house and unit values," Ezzy says.

<img alt="House vs Unit growth" data-entity-type="file" data-entity-uuid="488729a0-d3ea-441b-952b-da4978c13edb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2405_COTM.PNG?VersionId=J38cRtz3_VtXJL8a4njyWTPBtzxbrtDd" />

&nbsp;

Hobart is the only capital that saw stronger value growth in houses (0.8 per cent) compared to units (0.6 per cent) over the three months to April.

"Given the worsening affordability environment and the growing possibility that interest rates could be higher for longer, it's unsurprising that demand has skewed towards the more affordable unit sector," Ezzy added.

Over the three months to April, lower quartile dwelling values rose three per cent, more than twice the pace of upper quartile values (1.1 per cent), with growth conditions continuing to be skewed toward the more affordable section of the market.&nbsp;

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/city-beat-may-2024-sydney-unit-growth-doubles-houses-in-april">City Beat May 2024: Sydney unit growth doubles houses in April</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-may-2024-gold-coast-unit-market-continues-to-surge">City Beat May 2024: Gold Coast unit market continues to surge</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-may-2024-brisbane-unit-growth-doubles-houses-in-april">City Beat May 2024: Brisbane unit growth doubles houses in April</a>

The prolonged high-interest rate environment has seen buyer demand continue to skew towards more affordable housing alternatives, with most capitals now recording stronger growth in the more affordable unit sector

Urban Editorial

Apartment and townhouse value growth surges ahead of houses amid tightening affordability: CoreLogic

The owners of Labrador's&nbsp;Golden Shores Holiday Club have secured development approval to redevelop their Marine Parade resort.

They'll be creating a 25-level tower at&nbsp;<a href="https://www.urban.com.au/new-apartments/210-marine-parade-labrador">210 Marine Parade</a>&nbsp;that will home 85 apartments.

<img alt="First look: Golden Shores Holiday Club to become new apartment tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202023-05-24%20at%208.57.10%20am.png?VersionId=NCdG1Wj0.OsZFiVweU4mPbsv1srIGhXT" />

The development will comprise 49 two-bedroom units, 14 of which will feature a multi-purpose room, and 35 three-bedroom apartments, offering frontage to the Broadwater and adjacent public open space.

A full-floor penthouse spanning 458 sqm with five bedrooms, each with an ensuite and walk-in wardrobe, is also part of the development plan.

<img alt="First look: Golden Shores Holiday Club to become new apartment tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-24%20at%208.57.21%20am.png?VersionId=wZ255HCrEno_MVJwHFHQV59BuFLjC2S_" />

The approval aligns with the broader regional plan for the Gold Coast, which targets an annual supply of 4,010 new high-rise units aiming to address the ongoing demand-supply imbalance.

Designed by <a href="https://www.urban.com.au/architects/bda-architecture">BDA Architecture</a>, all apartments will have glimpses towards <a href="https://www.urban.com.au/developments/broadwater-qld">Broadwater</a> because of the tower's slender form. The building fans out towards the rear, which allows even the apartments at the back of the building to take in water views.&nbsp;

<img alt="First look: Golden Shores Holiday Club to become new apartment tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-24%20at%208.57.39%20am.png?VersionId=omXg3cnQ8YSGmeJDZO1uNzEXFpArCU7b" />

On the roof will be a swimming pool and lounge areas with kitchenettes, while the 24th level will home a gym.

While primarily geared towards permanent residential occupancy, the development includes provisions for short-term accommodation so future apartment owners can rent their apartments as a holiday let.

While primarily geared towards permanent residential occupancy, the development includes provisions for short-term accommodation so future apartment owners can rent their apartments as a holiday let

Golden Shores Holiday Club in Labrador to be redeveloped into apartments

Not enough housing to meet demand.

That's the state of the market in the Gold Coast, where the lack of activity in the new development space is a growing concern for the coastal hotspot that is still seeing surging population growth following a boom during the COVID-19 pandemic.

Real Estate Institute of Australia spokesperson, Andrew Bell, said the unprecedented demand for properties on the Gold Coast is unlikely to ease.

“It is simply an equation of supply and demand,” Bell said.

“What has happened, particularly post-COVID, has been a significant transfer of wealth from other parts of Australia including <a href="https://www.urban.com.au/developments/melbourne-vic?sort=">Melbourne</a> and <a href="https://www.urban.com.au/developments/sydney-nsw?sort=">Sydney</a>.

“During the pandemic, there was an increase in divorces, downsizing and simply relocation. We are also seeing a lot of high-wealth people, with the capacity to pay higher prices, moving to Queensland. In <a href="https://www.urban.com.au/developments/surfers-paradise-qld?sort=">Surfers Paradise</a> and <a href="https://www.urban.com.au/developments/broadbeach-qld?sort=">Broadbeach</a>, 24 per cent of sales have been cash purchases.”

Bell said while this was a major positive for the state, and a “coming of age” for Queensland, this northward migration had resulted in a decline in affordability for many buyers and renters.

“We don’t have enough properties to meet the huge influx of residents, especially workers who will contribute to strong economic growth.”

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-may-2024-gold-coast-unit-market-continues-to-surge">City Beat May 2024: Gold Coast unit market continues to surge</a>

There was only one new apartment development launched to the market in April on the Gold Coast, <a href="https://www.urban.com.au/new-apartments/la-belle-332-the-esplanade-palm-beach">La Belle Palm Beach</a> by Marquee.

Despite the lack of new supply in the market, there were several development applications submitted to the <a href="https://www.urban.com.au/gold-coast-qld">Gold Coast</a> City Council in April.&nbsp;

Of course, these projects won't be realised for several years, with the approval phase, marketing, and then the build generally making the lifespan of a new development between three to five years, depending on density and the speediness of the approval process.

We've wrapped up the top three apartment developments that went through council in April.

<h2>Address: 14 Chelsea Avenue, Broadbeach</h2>

<h3>Developer: Morris Property Group</h3>

Veteran Gold Coast developer,&nbsp;<a href="https://www.urban.com.au/developers/morris-property-group">Morris Property Group</a>, is planning their 10th residential development in Broadbeach, the majority of which have been delivered in the last few years.

<img alt="Exclusive first look: Morris Property Group plot another Broadbeach tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-04-16%20at%2012.19.37%20pm.png?VersionId=Uq9PTtSp1oEQp41rCDLZXE0_CyXITfY2" />

Morris has submitted plans for a high-end tower focused on the more affluent owner-occupier on a 607 sqm site next to their <a href="https://www.urban.com.au/buildings/opus-16-18-chelsea-avenue-broadbeach">Opus Broadbeach</a> tower which they completed in 2021.

They've had <a href="https://www.urban.com.au/architects/cottee-parker-architects">Cottee Parker</a> design a 25-level building with 22 full-floor apartments and a sole two-bed unit. They will sit above three basement levels which will have 45 parking spaces.

Read more: <a href="https://www.urban.com.au/news/qld/exclusive-first-look-morris-property-group-plot-another-broadbeach-tower">Exclusive first look: Morris Property Group plot another Broadbeach tower</a>

<h2>Address: 137 Old Burleigh Road, Broadbeach</h2>

<h3>Developer: DVB Projects</h3>

DVB Projects, the developer behind Broadbeach's Sea Glass development that is currently in market, is doubling down in the burgeoning suburb.

<a href="https://www.urban.com.au/developers/dvb-projects">DVB</a>, led by Dean Brown, has filed plans for a similar tower at&nbsp;<a href="https://www.urban.com.au/new-apartments/137-old-burleigh-road-broadbeach">137 Old Burleigh Road</a>, a 1,156 sqm site near the Old Burleigh Road and Queensland Avenue roundabout that is currently home to the 12-unit, 1980s block Gala.

<img alt="First look exclusive: DVB Projects doubles down in Broadbeach" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-05-01%20at%208.48.56%20pm.png?VersionId=nidO61LOnRCtr5DX95__x0hSybjrub4J" />

They've called on&nbsp;<a href="https://www.urban.com.au/architects/rothelowman" target="">Rothelowman</a>&nbsp;again to handle the design of the 105-metre, 32-level building that will have 39 half-floor and full-floor apartments and a two-level penthouse.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/first-look-exclusive-dvb-projects-doubles-down-in-broadbeach">First look exclusive: DVB Projects doubles down in Broadbeach</a>

<h2>Address: 118 Old Burleigh Road, Broadbeach</h2>

<h3>Developer: Little Projects &amp; R.Corp</h3>

Two&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic" target="">Melbourne</a>&nbsp;developers are pushing on with their prime apartment development site on one of Broadbeach's best streets.

<a href="https://www.urban.com.au/developers/little-projects-co">Little Projects</a>, in a joint venture with fellow&nbsp;Melbourne-based developer R.Corp, has gone back to the drawing board for their luxury apartment tower&nbsp;at 118 Old Burleigh Road, on the corner of Australia Avenue.

Since being knocked back by the Gold Coast City Council for their&nbsp;<a href="https://www.urban.com.au/news/qld/first-look-exclusive-little-projects-set-for-third-broadbeach-apartment-development-with-rcorp-joint-venture">initial 30-level plans by DKO</a>&nbsp;in early 2023 which would have seen 33 apartments delivered, Little Projects and R.Corp have been working with council and have now officially submitted new plans by&nbsp;<a href="https://www.urban.com.au/architects/plus-architecture" target="">Plus Architecture</a>.

<figure><img alt="First look: Little Projects redesign Old Burleigh Road, Broadbeach apartment tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-05-01%20at%2012.32.04%20pm.png?VersionId=ItXi3S7WYGZhd3YQUCUP6ZGzkz7Mf84U" /></figure>

They will be still targeting the high-end buyer in the building that was initially dubbed&nbsp;<a href="https://www.urban.com.au/new-apartments/one-australia-118-old-burleigh-road-broadbeach">One Australia</a>.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/first-look-little-projects-redesign-old-burleigh-road-broadbeach-apartment-tower">First look: Little Projects redesign Old Burleigh Road, Broadbeach apartment tower</a>

<h2>Address: 402-404 The Esplanade, Palm Beach</h2>

<h3>Developer: Chanine Developments</h3>

The latest play on luxury apartment developments on the Palm Beach beachfront is by Sydney-based developer <a href="https://www.urban.com.au/developers/chanine-developments">Chanine Developments</a> who secured a large site through site amalgamation specialists <a href="https://www.urban.com.au/project-marketer/gv-property-group">GV Property Group</a>.

<img alt="Sydney developer eyes Palm Beach luxury apartments" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-04-22%20at%204.39.07%20pm.png?VersionId=VBLJlBRgbOmL4loVoGpTKlJxfE7LNxNd" />

Chanine, led by Marwan Chanine, has now lodged plans for a boutique eight-level building with 15 half-floor apartments and a massive five-bedroom penthouse.

There will be 16 apartments in the building which has been designed by CDArchitects. The 15 three-bedroom apartments will sit beneath a massive 354 sqm, five-bedroom penthouse with its own rooftop pool, barbecue kitchen and alfresco space.

Read more: <a href="https://www.urban.com.au/news/qld/sydney-developer-eyes-palm-beach-luxury-apartments">Sydney developer eyes Palm Beach luxury apartments</a>

<h2>Address: 50 Sunset Boulevarde, Surfers Paradise</h2>

<h3>Developer: Macquarie York</h3>

It's taken less than five months for Roy Skaf's <a href="https://www.urban.com.au/developers/macquarie-york">Macquarie York</a> to secure approval for its upcoming absolute waterfront Surfers Paradise project.

Macquarie York will develop a 17-level tower at 50 Sunset Boulevarde, a 1,057 sqm riverfront block on the Nerang River facing Chevron Island's Home of The Arts building.

<img alt="Macquarie York secure approval for new Surfers Paradise apartments" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/50%20Sunset%20Bvd%20Surfers%20Paradise.jpg?VersionId=AtiCmJhE3qMpYlsaNO7Zgpi4uhAhzJHJ" />

<a href="https://www.urban.com.au/architects/plus-architecture">Plus Architecture</a>, led locally by Danny Juric, says the project has been "meticulously designed to seamlessly blend with its urban and natural surroundings, achieving a harmonious balance between the human-scale streetscape, riverscape, and the emerging skyline."

Among the amenities planned for residents is a dedicated recreation level on the second floor boasting a swimming pool, lounge area, BBQ space, gym, sauna, steam room, and work-from-home office space complete with desks and a boardroom.&nbsp;

Read more: <a href="https://www.urban.com.au/news/qld/macquarie-york-secure-approval-for-new-surfers-paradise-apartments">Macquarie York secure approval for new Surfers Paradise apartments</a>

Despite the lack of new supply in the market, there were several development applications submitted to the Gold Coast City Council in April.

Joel Robinson

Every new apartment development planned across Gold Coast in April

It's continued month-on-month gains in the Gold Coast unit market.

CoreLogic's Home Value Index showed another solid gain of one per cent over April, following growth of 1.1 per cent in both March and February.

The median value for a Gold Coast unit, which incorporates both townhouses and apartments, is now at $768,000, having started the year at $727,000. The median far outstrips the median unit value in Brisbane ($600,000) and Melbourne ($613,00).

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-march-2024-what-is-happening-in-the-gold-coast-off-the-plan-apartment-market">City Beat March 2024: What is happening in the Gold Coast off the plan apartment market?</a>

<h2>What happened in the Gold Coast off the plan market in April?</h2>

There was little activity on the Gold Coast in the way of new projects launching to the market in April, however many more are coming in the pipeline.

The only project to launch was Marquee's latest Gold Coast development, La Belle at Palm Beach.

<a href="https://www.urban.com.au/new-apartments/la-belle-332-the-esplanade-palm-beach">La Belle Palm Beach</a>&nbsp;will comprise 74 premium beachfront apartments over 14 levels that will take advantage of sweeping views from&nbsp;<a href="https://www.urban.com.au/developments/surfers-paradise-qld?sort=">Surfers Paradise</a>&nbsp;to&nbsp;<a href="https://www.urban.com.au/developments/coolangatta-qld?sort=">Coolangatta</a>.

[smartcode_project:default project_id=102340 project_image_fid=273590]

The development, with 40 metres of beach frontage, has three, four and five-bedroom apartments on offer, with internal living spaces between 150 sqm and 680 sqm, catering for the owner-occupier.

Designed by award-winning&nbsp;<a href="https://www.urban.com.au/architects/cottee-parker-architects" target="">Cottee Parker</a>&nbsp;Architects and detailed by <a href="https://www.urban.com.au/architects/bda-architecture">BDA Architecture</a>, La Belle&nbsp;is set to offer a diverse range of amenities including a heated outdoor pool and spa, multiple teppanyaki dining bars and entertaining areas, and a resident’s lounge with a billiard room, bar, and a large screen TV.

There will also be a wellness centre with a state-of-the-art gymnasium, yoga and Pilates movement room, Nordic and Infrared saunas, indoor hydrotherapy hot pool and two cold plunge immersion baths.

[smartcode_project:default project_id=102340 project_image_fid=273596]

Given how tight the market is for new projects, developers who can get their projects in market, with confidence that they're going to go ahead, are seeing strong results.

John Kearney's&nbsp;<a href="https://www.urban.com.au/developers/immerse-projects" target="">Immerse Projects</a>&nbsp;has seen a surge in sales at their <a href="https://www.urban.com.au/new-apartments/ombre-robina-46-scottsdale-drive-robina">Ombré</a> apartment development in <a href="https://www.urban.com.au/developments/robina-qld">Robina</a>, hitting the $40 million mark within just four weeks of launching.&nbsp;

[smartcode_project:default project_id=143341 project_image_fid=251416]

<a href="https://www.urban.com.au/new-apartments/ombre-robina-46-scottsdale-drive-robina">Ombré</a>, comprising 95 apartments designed by BDA Architecture, offers a diverse range of floor plans. Some of the one-bedroom apartments have two living areas, as do some of the two-bedrooms. They've been popular given there's nothing like that on the market in the whole of the&nbsp;<a href="https://www.urban.com.au/developments/gold-coast-qld?sort=">Gold Coast</a>.

Kearney's construction company&nbsp;<a href="https://www.urban.com.au/builders/greyburn">Greyburn</a>&nbsp;will build Ombré, which is slated for completion in December 2025.

[smartcode_project:default project_id=112024 project_image_fid=241133]

Veteran Gold Coast developer, Morris Property, is also seeing success at their Broadbeach apartment development, Crest.

<a href="https://www.urban.com.au/new-apartments/crest-broadbeach-13-armrick-avenue-broadbeach">Crest&nbsp;Broadbeach</a>, which marks Morris Property Group's eighth high-rise residential project in&nbsp;<a href="https://www.urban.com.au/developments/broadbeach-qld">Broadbeach</a>, recently hit the 50 per cent sold milestone. The first tower in the project tapped into the demand for new apartments in the sought-after Broadbeach postcode.

In the fourth quarter of 2023, Crest saw a total of 25 sales, with an average sale price of $1,089,000 per apartment.

[smartcode_project:default project_id=112024 project_image_fid=241132]

&nbsp;

Morris has padded out its future pipeline in their favourite suburb, submitting plans for their 10th residential development&nbsp;<a href="https://www.urban.com.au/developments/broadbeach-qld">in the suburb</a>&nbsp;neighbouring Surfers Paradise.

Morris has submitted plans for a high-end tower focused on the more affluent owner-occupier at 14 Chelsea Avenue, Broadbeach, a 607 sqm site next to their&nbsp;<a href="https://www.urban.com.au/buildings/opus-16-18-chelsea-avenue-broadbeach">Opus</a>&nbsp;Broadbeach tower which they completed in 2021.

<img alt="Exclusive first look: Morris Property Group plot another Broadbeach tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-04-16%20at%2012.19.37%20pm.png?VersionId=Uq9PTtSp1oEQp41rCDLZXE0_CyXITfY2" /> 
The plans for 14 Chelsea Avenue. Image credit: Cottee Parker

They've had&nbsp;<a href="https://www.urban.com.au/architects/cottee-parker-architects">Cottee Parker</a>&nbsp;design a 25-level building with 22 full-floor apartments and a sole two-bed unit. They will sit above three basement levels which will have 45 parking spaces.

"Buyers love Broadbeach because it offers beachside living with metropolitan amenities, which is what the market is after," Morris told Urban back in 2022.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/exclusive-first-look-morris-property-group-plot-another-broadbeach-tower">Exclusive first look: Morris Property Group plot another Broadbeach tower</a>

Getting closer to the launch of their next project is&nbsp;Aniko Group who on their flagship $2 billion mixed-use development, The Landmark in Mermaid Beach.&nbsp;

They <a href="https://www.urban.com.au/news/qld/aniko-settle-on-32-5-million-mermaid-beach-the-landmark-site">settled on their $32.5 million</a>&nbsp;<a>Mermaid Beach</a>&nbsp;site, earmarked for&nbsp;four towers which are set to transform the long-vacant property into a&nbsp;<a href="https://www.urban.com.au/new-apartments/the-landmark-14-seaview-avenue-mermaid-beach">vibrant new residential, commercial, dining and leisure precinct</a>.

<a href="https://www.urban.com.au/developers/aniko-group">Aniko</a>&nbsp;purchased the 1.13ha site, located at the corner of the&nbsp;<a href="https://www.urban.com.au/new-apartments/gold-coast-qld">Gold Coast</a>&nbsp;Highway and Seaview Avenue, in 2022.

<img alt="Aniko settle on $32.5 million Mermaid Beach The Landmark site" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/JPEG_aerial_aniko_masterplan_3_3d_render_by_volumevision.jpg?VersionId=1.uLIVBpLz2pmKWHXojCQzLNEk6zvYrM" />

Elsewhere on the Coast, Sydney apartment developer&nbsp;<a href="https://www.urban.com.au/developers/chanine-developments" target="">Chanine</a>&nbsp;Developments settled on a secured a site across 1407 Gold Coast Highway and 402-404 The Esplanade through site amalgamation specialists GV Property Group.

<a href="https://www.urban.com.au/developers/chanine-developments" target="">Chanine</a>, led by Marwan&nbsp;<a href="https://www.urban.com.au/developers/chanine-developments" target="">Chanine</a>, has now lodged plans for a boutique eight-level building with 15 half-floor apartments and a massive five-bedroom penthouse.

<a href="https://www.urban.com.au/developers/chanine-developments" target="">Chanine</a>&nbsp;said the vision&nbsp;is to bring the opulence of the Eastern Suburbs to&nbsp;<a href="https://www.urban.com.au/developments/palm-beach-qld" target="">Palm Beach</a>, in both finishes and aesthetics.

<img alt="Sydney developer eyes Palm Beach luxury apartments" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-22%20at%204.38.57%20pm.png?VersionId=y4ALTq055_MU5Wgcg6pnUfQ6iLLkhQvj" />

<a href="https://www.urban.com.au/developers/macquarie-york">Macquarie York</a> is another starting to put their marketing together for their next project, having received approval from the Gold Coast City Council for&nbsp;a 17-level tower&nbsp;at 50 Sunset Boulevarde, a 1,057 sqm riverfront block on the Nerang River facing&nbsp;<a href="https://www.urban.com.au/developments/chevron-island-qld">Chevron Island</a>'s Home of The Arts building.

<a href="https://www.urban.com.au/architects/plus-architecture" target="">Plus Architecture</a>&nbsp;designed the building which will have 42 two and three-bedroom apartments and a three-level, four-bedroom penthouse.

Plus, led locally by Danny Juric, says the project has been "meticulously designed to seamlessly blend with its urban and natural surroundings, achieving a harmonious balance between the human-scale streetscape, riverscape, and the emerging skyline."

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/macquarie-york-secure-approval-for-new-surfers-paradise-apartments">Macquarie York secure approval for new Surfers Paradise apartments</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-march-2024-what-is-happening-in-the-gold-coast-off-the-plan-apartment-market">City Beat March 2024: What is happening in the Gold Coast off the plan apartment market?</a> 
&nbsp;

The median value for a Gold Coast unit is now at $768,000, having started the year at $727,000

City Beat May 2024: Gold Coast unit market continues to surge

Latent Defects Insurance (LDI), is changing the game for off the plan apartment buyers in Australia.

This insurance product provides off-the-plan apartment buyers with a 10-year warranty on their new apartment and the building it's situated in. The cover is purchased by the property developer/builder (pre-construction) and is designed to protect owners against any immediate or future problems with the structural components of their new property, from leaks to cracks and everything in between.

Some of Sydney’s biggest and most respected developers have embraced the new insurance. The likes of Deicorp, Kanebridge, <a href="https://www.urban.com.au/developers/abadeen-group">Abadeen</a>, Coronation Property and Urban Property Group have rolled out the insurance across some, if not all of the projects they’re currently undertaking.&nbsp;

Sydney-based Resilience Insurance, the first insurer to launch LDI in Australia, is now taking the product national, and is having conversations with developers in Melbourne, Brisbane, the Gold Coast and Perth.&nbsp;

<h2>How does Latent Defects Insurance work?</h2>

Resilience Insurance CEO Corey Nugent says the insurance, which has been around for about seven decades across the globe, benefits both the purchaser and the developer.

“Ultimately what we’re trying to do is build better buildings the consumers can have trust in, but more importantly improve the post completion and settlement process, so that when buyers take possession, they have full insurance protection, from day one, for 10 years” Nugent says.

“The insurance protects the buyer from any structural defects in the building, and developers who have taken Resilience LDI have reported an uptick in both sales volumes and sale values compared to competing developments that don’t have Resilience LDI.”

[smartcode_project:default project_id=7106 project_image_fid=239175]

While giving confidence to the consumer at the end of the build, Resilience LDI is actually in place throughout the build process. Rather than it solely being used as a rectification product, the insurance kicks in to fix issues when they arise, rather than down the track following completion. Of course the insurance protects owners at that stage too, however the ideal scenario is any problems that come up during the building get fixed well before settlement.

Resilience has a string of expert partners who are onsite even before construction has started to ensure even the ground the development is being built on is structurally sound.

<h2>What does LDI mean for off the plan apartment buyers?</h2>

A survey undertaken by MatterFact, Urban.com.au’s data product, shows the biggest thing holding back prospective purchasers from buying an off the plan apartment is the trust and faith they have in the developer, followed closely by the concern the build won’t be of good quality. It was a common consensus on the survey conducted from state to state, where delivery was much more of an issue raised compared to budgets, approvals or price of the apartment.

[smartcode_project:default project_id=112966 project_image_fid=213736]

“LDI is about to change the game in the off the plan apartment market,” Urban.com.au CEO Mike Bird says, adding that the insurance will be a huge boost to helping solve Australia’s housing crisis.

“With the large imbalance of supply and demand in Australia, there has to be a move to off the plan apartments, but to get there, consumers need to be more confident in delivery.

“Unfortunately the industry has been tarnished by a small number of developers who haven’t acted on behalf of the consumer in the last five years or so. Developers who have Resilience LDI are telling consumers that they’re in a partnership with them, and they will deliver the quality that they promised. If they don’t, then the insurance protects the purchaser, without all the trials and tribulations of litigations and long, drawn out court cases which often cost thousands of dollars as well as significant upheaval whether it be mental or physical.

<h2>How does Latent Defects Insurance impact the developer?</h2>

Data collected by MatterFact also showed 60 per cent of off the plan apartment seekers would pay over 1.5 per cent of the apartment price for it to have LDI cover, which typically outweighs how much it costs a developer to purchase Resilience LDI.&nbsp;

Nugent says there have been instances already where developers have reported prices with a four to five per cent increase due to them having LDI, compared to similar projects in the same area.

[smartcode_project:default project_id=134951 project_image_fid=223715]

While there’s been a handful of progressive new tools to try and build confidence in the off the plan industry, such as the iCIRT-rating system and KMPG’s Building Trustworthy Indicator, no one has gone as far as Resilience LDI in terms of actual protection for an off the plan apartment buyer.

NSW Building Commissioner David Chandler recently lauded the introduction of LDI, suggesting it will improve the design and construction of apartment buildings in NSW.

“These reforms have come about due to the united commitment of government and industry to transform the NSW construction sector,” Chandler said.

“NSW is now in the position of being a national leader in offering an insurance product of this type for Class 2 buildings because of the three years of conscious effort and commitment by Government and industry to the journey we have been on under Construct NSW.

“We’re looking to clean up the market and bring an end to expensive litigation against developers who have deep pockets or subsequently vanish into thin air.”

To find out more about Resilience LDI, <a href="https://resilienceinsurance.com.au/">click here</a>.

Resilience Insurance CEO Corey Nugent says the insurance, which has been around for about seven decades across the globe, benefits both the purchaser and the developer

What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?

DVB Projects, the developer behind Broadbeach's Sea Glass development that is currently in market, is doubling down in the burgeoning suburb.

<a href="https://www.urban.com.au/developers/dvb-projects">DVB</a>, led by Dean Brown, has filed plans for a similar tower at&nbsp;<a href="https://www.urban.com.au/new-apartments/137-old-burleigh-road-broadbeach">137 Old Burleigh Road</a>, a 1,156 sqm site near the Old Burleigh Road and Queensland Avenue roundabout that is currently home to the 12-unit, 1980s block Gala.

They've called on Rothelowman again to handle the design of the 105-metre, 32-level building that will have 39 half-floor and full-floor apartments and a two-level penthouse.

<img alt="DVB" data-entity-type="file" data-entity-uuid="292794d9-d7da-43b6-b458-eabcdde8e3ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-01%20at%208.48.34%20pm.png?VersionId=cti1h78o8EI0cHGfXrMI2quX_XO_JaO7" />

The apartments will rise from level seven, above an extensive podium and three basement levels that will home 93 parking spaces and a whole floor of amenities on the sixth level of the podium. That will feature a&nbsp;20-metre infinity pool, hot and cold plunge pools, a gym with a sauna, a barbecue and alfresco area and a private kitchen and dining space.

Above the half-floor apartments will start. They will each have 230 sqm of internal living space and a further 25 sqm of balcony area.&nbsp;

The half-floors will run to level 21 where the full-floor, 460 sqm apartments kick in. They will have four ensuite bedrooms, one a master with a dressing room, as well as two living areas and a separate home office.

<img alt="DVB" data-entity-type="file" data-entity-uuid="a0d1f69c-ccce-49c1-9db8-234e1f0e1a54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-01%20at%208.47.47%20pm.png?VersionId=B8bU9OWgeXk399Y3254Dzpdi3.utgHl4" />

Crowning the building will be another four-bedroom whole-floor apartment, but that will get a private rooftop level with a swimming pool and adjoining deck, a gym with adjoining lawn, and a kitchen and entertaining space with another terrace.

&nbsp;

&nbsp;

In their plans submitted to the Gold Coast City Council, Rothelowman said 137 Old Burleigh Road represents a unique approach in contextual urbanism and architecture.

"Situated one city block from the beach within a neighbourhood undergoing rapid gentrification, the site plays a pivotal role in the traditions and characteristics unique to beachside communities.

"The neighbourhood of Broadbeach projects a lifestyle of casual, social engagement and invitation; animated streets where life is on display. To ensure this preservation of character, the proposal seeks to engender a place which participates in these traditions and contributes to the evolution of local identity."

<img alt="DVB" data-entity-type="file" data-entity-uuid="7e32de7c-61c7-4892-86ed-82ccf1b273ed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-01%20at%208.48.15%20pm.png?VersionId=p602vkCsQfteIUQSQjSjriEbUYBRRNhg" />

They said the dwellings were imagined as a collection of beachside homes.

"The dwellings take form as a series of quarters for living and sleeping, each shaped by a series of directional vistas running across and through the space.

"Celebrating the notions of outdoor living and choice, occupants enjoy the benefits of flexibility and multi-modal living with operable partitions and alternative glazing arrangements to expand rooms into balconies and interstitial spaces.

"Designed from the inside out, the resultant façade exercises simplicity and restraint."

<img alt="DVB" data-entity-type="file" data-entity-uuid="d835c3fb-268b-4b2e-960b-9342bc335910" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29.png?VersionId=zE6hFDXbDj6sl3ljgfBrXitiZL5VzVY3" />

DVB secured approval for their debut Gold Coast apartment development, <a href="https://www.urban.com.au/new-apartments/sea-glass-2-first-avenue-broadbeach">Sea Glass</a>, late last year, after working with council following its mid-2021 rejection.

Sea Glass, which will have 35 apartments, is located on the corner of First Avenue and Old Burleigh Road, around a kilometre north of the new project, just past Broadbeach Park.

Rothelowman said the dwellings were imagined as a collection of beachside homes

First look exclusive: DVB Projects doubles down in Broadbeach

Fresh off the back of redesigning their Coolangatta development on one of the best sights in the southern Gold Coast, the Abedian family, who have been at the forefront of Gold Coast development for four decades, is continuing to bolster its local development pipeline.

Urban can reveal the Abedian family, who is now operating under their private family development arm <a href="https://www.urban.com.au/developers/arium">Arium</a> having closed up Sunland in 2022, has secured several adjoining sites on Mary Avenue, Broadbeach, facing the <a href="https://www.urban.com.au/new-apartments/broadbeach-qld">Broadbeach</a> State School which means viewlines to the beach and the ocean are protected.

They bought the amalgamated 1,518 sqm site across 14-18 Mary Avenue that had been earmarked for Eternity, the second Broadbeach tower by Leo Sarris's Bassar Group following on from their nearby completed project Infinity.

Arium has now emerged as the buyer of the site next door at 20 Mary Avenue, a skinnier site at just over 600 sqm that had been owned by the Melbourne-based <a href="https://www.urban.com.au/developers/little-projects-co">Little Projects</a>.

<img alt="20 Mary Avenue" data-entity-type="file" data-entity-uuid="93a41b95-551b-44d5-a47e-e69d1797ceb3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-01%20at%202.53.49%20pm.png?VersionId=Bc3ZEpvzo9gygkTPD6qkUBjgEt9mj87z" />

Little Projects secured the site in 2021 and initially laid plans for a skinny but luxury luxury whole-floor development dubbed Aperture.&nbsp;

Nearly all of the 29 apartments across the 34-level Elenberg Fraser tower were spoken for, with sales predominantly driven by the COVID-induced boom on the Gold Coast.

However, the Gold Coast City Council knocked back the project and Little Projects went back to the drawing board, cutting the tower in half and creating a curved facade. At the time&nbsp;of lodgement, the developer put the site up for sale but failed to find a buyer. The newly designed project, Atelier, is approved with council with 17 apartments.

The side-by-side sites now total over 2,100 sqm and allow Arium to create something more likely to be financially feasible compared to smaller buildings on narrower sites.

Sahba Abedian, son of Soheil Abedian who founded Sunland back in 1983, announced the family back in the development scene in May 2023 when they filed plans for a new luxury project on the Greenmount Beach Hotel site, a site that was bought from Sunland for over $42 million through an onmarket campaign.

They had planned for a <a href="https://www.urban.com.au/news/qld/first-look-abedian-familys-plans-for-coolangattas-greenmount-beach-hotel-site-revealed">spaceship-looking tower by Contreras Earl Architecture</a> that would have had 54 apartments across 16 levels. However, in March they sought to change up the design, instead opting to create a two buildings on the sprawling 7,071 sqm block which will have 63 apartments.

Arium is only using two of the three sites as part of the Coolangatta development. They advise a 2,934 sqm portion on the corner of Eden Avenue and Hill Street will be used for stage two of the project.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/first-look-exclusive-abedian-family-completely-redesign-greenmount-beach-hotel-redevelopment-in-coolangatta">First look exclusive: Abedian family completely redesign Greenmount Beach Hotel redevelopment in Coolangatta</a>

<img alt="Abedian" data-entity-type="file" data-entity-uuid="595fbff3-f58a-4b38-a6b7-97d79499a463" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-01%20at%203.02.25%20pm.png?VersionId=ZzN07l3CctC3zy3bTHQnbsdQxXKBI9TM" />

The Abedian family shut up shop of Sunland Group in 2022, shedding its assets and finishing its final tower, the luxury Mermaid Beach tower 272 Hedges Avenue.

Sunland was behind some of the Gold Coast's most well-known buildings, including Palazzo Versace and Q1.

When telling shareholders Sunland was exiting the development game, the Abedian family always said they would run a private development company.

&nbsp;

Sunland was behind some of the Gold Coast's most well-known buildings, including Palazzo Versace and Q1

First look exclusive: Abedian family line up next Gold Coast apartment development after multiple site acquisitions

Two Melbourne developers are pushing on with their prime apartment development site on one of Broadbeach's best streets.

<a href="https://www.urban.com.au/developers/little-projects-co">Little Projects</a>, in a joint venture with fellow Melbourne-based developer R.Corp, has gone back to the drawing board for their luxury apartment tower&nbsp;at 118 Old Burleigh Road, on the corner of Australia Avenue.

Since being knocked back by the Gold Coast City Council for their <a href="https://www.urban.com.au/news/qld/first-look-exclusive-little-projects-set-for-third-broadbeach-apartment-development-with-rcorp-joint-venture">initial 30-level plans by DKO</a> in early 2023 which would have seen 33 apartments delivered, Little Projects and R.Corp have been working with council and have now officially submitted new plans by Plus Architecture.

They will be still targeting the high-end buyer in the building that was initially dubbed <a href="https://www.urban.com.au/new-apartments/one-australia-118-old-burleigh-road-broadbeach">One Australia</a>.

<img alt="Little Projects" data-entity-type="file" data-entity-uuid="2a92fe27-83a9-42ca-967b-58e8fa050251" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-01%20at%2012.32.11%20pm.png?VersionId=hFVVdybnZpRDWncc4yd4Pr_q6dSbtqaU" />

The tower will now be seven levels smaller and will home just 20 full-floor apartments, each with four bedrooms, 274 sqm of internal living space and a 20 sqm balcony. The only exception will be a two-level penthouse with 530 sqm of indoor and outdoor space. It will have four bedrooms and a private rooftop terrace with a pool, firepit area, outdoor kitchen and alfresco space.

The resident amenity will sit on the first level and will comprise a swimming pool with accompanying day beds, a gym with a sauna, and a work from home space off the entry lobby.

&nbsp;

The project will have three levels of basement with parking for 29 cars.

<img alt="Plus" data-entity-type="file" data-entity-uuid="0c904138-5db0-4024-b8bf-57c052632bf1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-01%20at%2012.32.17%20pm.png?VersionId=eALpW9PPcpPigCQnfPmUmXiX8y30DCNN" />

The 690 sqm site was bought through development site amalgamation specialists GV Property Group, who got the eight owners of the two-storey walk-up, around 40 years old, to band together the sell the prime site.&nbsp;

GV&nbsp;had over eight offers for the site from both local and interstate developers when it sold in 2022.

<img alt="DKO" data-entity-type="file" data-entity-uuid="70b3b4c1-3741-4f5c-aae6-cca1434b61c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-01%20at%201.28.03%20pm.png?VersionId=hJ3ywABcti5NAeOsF3TmnPqk5C9y3qww" />The initial plans by DKO were for a much skinnier tower. Image credit: DKO

One Australia will be R.Corp's first venture in the Gold Coast. Little Projects has previously developed in <a href="https://www.urban.com.au/new-apartments/broadbeach-qld">Broadbeach</a>, having significant success with Signature, their higher density development on Elizabeth Avenue.

Little Projects, led by Leighton Pyke, also had a site at 20 Mary Avenue in Broadbeach, where they had planned a luxury tower before recently offloading the site.

First look: Little Projects redesign Old Burleigh Road, Broadbeach apartment tower

Sydney-based billionaire Ian Malouf has quietly been working on his first development play on the Gold Coast.

Now he's taken the wraps off <a href="https://www.urban.com.au/buildings/remi-residences-122-surf-parade-broadbeach">REMI Residences</a>, a $256 million, 30-level tower at 122 Surf Parade, one of <a href="https://www.urban.com.au/developments/broadbeach-qld?sort=">Broadbeach's</a> most active streets for new developments.

There are 49 luxury apartments in the tower which has been developed by Malouf's MFG Global which is ran by CEO Peter Wilding.

“We’ve got a very unique offering in Remi Residences where buyers can actually touch and feel the apartments they are going to be purchasing,” Malouf said.

“REMI Residences presents an exclusive opportunity for buyers in search of quality and style.

"They can physically see and experience the apartments all before putting down a deposit. We didn't want to subject buyers to years of uncertainty. They want assurance throughout their journey and with REMI Residences they can get a real sense of the space, the outlook, and the feel of each apartment."

<img alt="REMI" data-entity-type="file" data-entity-uuid="222ee231-ea2a-4e23-8e36-ec311be432d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-01%20at%2012.03.30%20pm.png?VersionId=LdQZ6EUQvmWb3IfzHJ2gDSa9hqpQ5l04" />

Peter Wilding said from a lifestyle perspective, they had the vision of creating a space that feels like a luxury hotel with all the important amenities, but also feels like home.

"This vision, partnered with the ability for buyers to purchase completed stock is where I believe we’ve been able to differentiate ourselves from the other developers here on the Gold Coast."

There are 15 two-bedroom apartments on offer, 27 three-beds, and seven four-bedroom apartments. Living spaces range from 107 sqm to 1200 sqm, with the average size apartment more than 250 sqm. Prices start from $2.5 million.

<img alt="REMI" data-entity-type="file" data-entity-uuid="900d5ec0-84e4-418b-b501-4f8e523ab47b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-05-01%20at%2012.01.30%20pm.png?VersionId=M0n.mgaoMeFuCDRG3rCkfr1lDlloponv" />

The three-level, six-bedroom penthouse spans&nbsp;over 1200 sqm and features a private swimming pool and rooftop Padel court.

REMI Residences features a comprehensive suite of amenities for owners including spa treatment rooms, saunas, steam rooms, and a 15-meter lap pool, ensuring residents have access to premium wellness facilities. There's also a&nbsp;private function space, complete with a fully equipped kitchen, bar, and alfresco lounge balcony.

Residents will also have access to&nbsp;two Tesla electric vehicles.

[smartcode_project_cta:default project_id=144831]

Billionaire Ian Malouf reveals completed Broadbeach apartment development, Remi Residences

Sherpa&nbsp;has released to market its two-bedroom Executive Collection at Perspective Nexus, their upscale apartment development in <a href="https://www.urban.com.au/developments/palm-beach-qld">Palm Beach</a>.

Four of the seven two-bed apartments have already been snapped up in the building dominated by luxury three-bedroom apartments and penthouses.

Designed specifically for discerning owner-occupiers, the Executive Collection offers two-bedroom and two-bedroom plus multi-purpose room configurations, with some units featuring oversized balconies.

The apartments are fully customisable and showcase top-tier finishes such as Gaggenau appliances.

[smartcode_project:default project_id=108324 project_image_fid=250147]

The in-demand project, located on a 1,583 sqm site at 949-953 Gold Coast Highway, will rise nine levels and deliver a total of 32 apartments, including two half-floor penthouses and three sky homes with private rooftops.

<a href="https://www.urban.com.au/new-apartments/perspective-nexus-949-gold-coast-highway-palm-beach">Perspective Nexus</a> has already sold 75 per cent of its units since launching to the market.

The development is the product of a detailed design process led by <a href="https://www.urban.com.au/architects/hal-architects">HAL Architects</a> that has taken into account the requirements for the <a href="https://www.urban.com.au/new-apartments/gold-coast-qld">Gold Coast</a> city plan and the expectations of the local community.

[smartcode_project:default project_id=108324 project_image_fid=231830]

The luxury development is primed for owner-occupiers and downsizers who will enjoy unrivalled residents’ recreational and state-of-the-art amenities.

Perspective Nexus' communal amenities include a dedicated wellness space featuring a magnesium spa, outdoor kitchen, sauna, hot and cold pools, a steam room, and a wellness garden for residents to enjoy the beachside ambience.&nbsp;

Additional amenities and features will include an electric car charging station, individual apartment storage, a car wash bay, a dog wash, and parcel delivery storage, including a cold store.

Perspective Nexus is under construction by <a href="https://www.urban.com.au/builders/lps-group">LPS Group</a> with completion slated for Q3 2025.

[smartcode_project_cta:default project_id=108324]

Perspective Nexus is under construction by LPS Group with completion slated for Q3 2025

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