The sought-after Latent Defects Insurance policy, offering off the plan apartment buyers peace of mind for 10 years post-completion, has made its way to Sydney’s harbourside. Boutique developer <a href="https://www.apartments.com.au/developers/toohey-miller">Toohey Miller</a> has secured this insurance for its newly launched Elizabeth Bay development, <a href="https://www.apartments.com.au/new-apartments/barncleuth-square-elizabeth-bay-4-4a-barncleuth-square-elizabeth-bay-nsw-2011">Barncleuth</a>. This marks the developer’s second project in the area, following the success of No. 1 Onslow Place.

Latent Defects Insurance, offered by <a href="https://www.apartments.com.au/news/resilience-latent-defects-insurance">Resilience Insurance</a>, provides cover for structural or waterproofing defects in new apartment buildings. It is a policy that only the developer or builder can take out, not the apartment purchaser.

Located just&nbsp;off Macleay Street, one of Sydney’s most desirable high streets, Barncleuth offers a rare collection of only 10 residences. With just two per floor, each oversized floorplan has been designed by SJB specifically for the owner-occupier.

[smartcode_project:default project_id=140184 project_image_fid=356342]

The five-storey building captures views over Rushcutters Bay and Paddington, blending contemporary brickwork with the expressive silhouettes of its Art Deco neighbours.

Inside, the residences, designed by David Hicks, prioritise generous scale and enduring quality, with a mix of two- and three-bedroom layouts. Expansive terraces and cross-ventilated interiors maximise light and airflow, while sustainable features such as a green roof and locally sourced materials reflect SJB’s commitment to long-term liveability.

[smartcode_project:default project_id=140184 project_image_fid=356341]

Developer Toohey Miller, led by Nick Couloumbis, says the design aims to bring lasting quality to an area long celebrated for its apartment heritage.

"It's a stone's throw from the best restaurants in Sydney. Some people call it the Soho of Sydney," Couloumbis told Apartments.com.au when the project was approved.

[smartcode_project:default project_id=140184 project_image_fid=356337]

By securing <a href="https://www.apartments.com.au/news/resilience-latent-defects-insurance">Resilience Latent Defects Insurance</a>, Barncleuth joins a growing group of premium Sydney projects adopting the gold standard in building protection.&nbsp;

The cover, provided before construction begins, ensures any hidden structural or waterproofing defects are repaired immediately, without lengthy litigation or fault disputes.

Resilience Insurance CEO Corey Nugent said the product has been a catalyst for renewed confidence in the off the plan market.&nbsp;

“Ultimately what we’re trying to do is build better buildings consumers can trust. When buyers take possession, they have full insurance protection from day one, for 10 years,” Nugent explained.

Unlike traditional policies such as strata or construction insurance, Resilience LDI is a first-resort, strict liability policy, meaning repairs are covered immediately without needing to prove negligence. Coverage extends to foundations, load-bearing walls, and waterproofing, the elements most critical to long-term structural integrity.

Regarded construction firm Jasara has been appointed to deliver Barncleuth. They are forecasting an early 2027 completion.

[smartcode_project_cta:default project_id=140184]

Joel Robinson

Toohey Miller brings 10-year Latent Defects Insurance to Elizabeth Bay as Barncleuth apartments launch

<a href="https://www.apartments.com.au/developers/golden-sedayu">Golden Sedayu</a> has unveiled plans for the next phase of its landmark $4 billion <a href="https://www.apartments.com.au/new-townhouses/burswood-point-saintly-entrance-burswood-wa-6100">Burswood Point</a> project, just 3.5km from the Perth CBD at the Belmont Racecourse site.

The Local Development Plan Application has been lodged for a world-class mixed-use hub (Precinct B) on the previously untouched 2.5km stretch of Swan River foreshore.

Designed by Skidmore, Owings &amp; Merrill (SOM), recognised for their work on the world’s tallest skyscraper, Burj Khalifa in Dubai and the One World Trade Centre in New York, Precinct B will feature 15 buildings, offering a mix of residential and commercial spaces including a shopping centre up to 30,000 sqm in size.

Complementing this, an internationally acclaimed five-star hotel, and a high-end pedestrian-friendly retail boulevard with vibrant day-and-night retail, dining, and entertainment venues, will provide exciting new ways for Perth residents to connect with the riverfront.

This latest milestone signals continued construction and expansion momentum across Perth’s premier riverfront community, which is set to attract local, national and international visitors.

[smartcode_project:default project_id=142314 project_image_fid=263304]

The masterplan features 110,000 sqm of public open space, which is comparable to other Perth landmarks including inner-city Langley Park and South Perth foreshore. The riverside precinct will be brought to life through a visionary landscape concept by globally renowned architectural practice Grant Associates.

With an impressive international portfolio, including Gardens by the Bay and Funan Mall in Singapore and Barangaroo South in Sydney, the firm brings expertise in creating environments that harmonise with surrounding amenity.

At 38 hectares, Burswood Point is one of the largest urban development projects ever undertaken in Australia, and one of Perth’s most transformative mixed-use developments.

Golden Sedayu Managing Director Andrew Sugiaputra said the company was working closely with SOM, Grant Associates and the Government of Western Australia to ensure Burswood Point’s design responds sensitively to its surroundings, reflecting and enhancing the character, history, and natural features of the local environment.

[smartcode_project:default project_id=142314 project_image_fid=1817]

“West Australians enjoy a privileged outdoor lifestyle and the Swan River is central to their enjoyment,"&nbsp;Sugiaputra said.

"We’re proud to be creating something truly spectacular and unique for the city, a place that feels alive from sunrise to sunset, a place where people can stay, shop, dine, and celebrate life on the river."

Precinct B builds on the outstanding success of Burswood Point’s first residential stage, which has been met with exceptional market demand. Somerset Residences, a two- tower luxury apartment development, and the exclusive riverfront homes collection are under construction and selling fast. As the number of Perth houses listed for sale remain at or near record lows, Burswood Point will deliver 4,500 new homes over the next 10 years.

“Golden Sedayu is dedicated to delivering on our promises,"&nbsp;Sugiaputra added.

"Our clients can buy with confidence, knowing that the price is fixed throughout construction. In an industry that has faced challenging market conditions, we’re proud to provide our clients complete peace of mind and confidence in the value of their investment."

&nbsp;

[smartcode_project_cta:default project_id=142314]

Golden Sedayu reveals next 15 buildings in Perth's $4 billion Burswood Point precinct

Rising at the base of The Remarkables,&nbsp;diversified New Zealand developer&nbsp;<a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>'s Mountain Oak Apartments presents a foothold in Frankton, one of Queenstown’s most dynamic and fast-growing locales.&nbsp;

Surrounded by soaring alpine scenery and year-round tourism drawcards, Mountain Oak Apartments is a masterplanned precinct that perfectly balances accessibility with lifestyle amenity.

<img alt="Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district" 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://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Frankton has emerged as a strategic growth zone just seven kilometres from Queenstown’s CBD, popular among both residents and investors for its proximity to the airport, the region’s two premier ski fields, Coronet Peak and Cardrona Alpine Resort, and an expanding network of shops, services, and recreation options. The apartments enjoy immediate access to the popular Market Street dining hub, as well as Five Mile Shopping Centre and the seasonal Remarkables Market, where locals gather for fresh produce and artisan goods.

The location also places residents near the gateway to South Island adventures. Scenic trails, golf courses, and Lake Wakatipu’s edge are within easy reach, while the historic village of Arrowtown, renowned for its preserved gold rush-era charm and walking routes, is a short drive away. Local transport connectivity is supported by the nearby airport and arterial roads, ideal for frequent travellers and short-term guests alike.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" 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/313_Living_WEB.jpg?VersionId=3LglY20Jp_MAzQYdvwODRWvtjL.cZcqI" />

Tourism-driven demand underpins strong investment fundamentals in Queenstown, with a noted shortage of short- and long-term accommodation stock. Mountain Oak’s 365-day visitor accommodation consent directly addresses this need, offering a rare opportunity to serve Queenstown’s dual population of holidaymakers and hospitality workers.

Construction of the 141 residences began in June 2025, with completion anticipated by mid-2027. Apartments range from one-bedroom to penthouses, with pricing from NZ$639,000. Dual-key options and low-maintenance finishes support a flexible rental model with strong gross return potential.

Staff Writer

From slopes to markets: Mountain Oak connects residents to the best of Queenstown

Deicorp is doubling down in the Hills Showground Station Precinct, the rapidly growing area surrounding the Castle Hill Metro and one of the state’s largest transit-oriented urban renewal sites.

Having launched Hills Showground Village several years ago, and now about 70 per cent through its build, Deicorp has brought another mini-masterplan to market just a few streets away.

The developer has now released the first of 873 residences in <a href="https://www.apartments.com.au/new-apartments/showground-pavilions-castle-hill-3-andalusian-way-castle-hill-nsw-2154">Showground Pavilions</a>, five new buildings located just 500 metres from the Metro, which connects Castle Hill residents to Martin Place in around 37 minutes.

[smartcode_project:default project_id=150067 project_image_fid=351416]

The mix includes one, two, and three-bedroom apartments, as well as a limited release of garden terrace homes with studies.

Designed by <a href="https://www.apartments.com.au/architects/turner-studio">Turner Studio</a> and <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a>, the residences are configured around a network of landscaped courtyards and podium-level gardens, with additional rooftop terraces offering views across the district.&nbsp;Communal amenities include a 3,500 sqm public park, playgrounds, shaded seating areas and walking and cycling paths.

[smartcode_project:default project_id=150067 project_image_fid=351416]

Interiors feature flexible layouts with oversized living areas, deep balconies, SMEG kitchen appliances and floor-to-ceiling glass to maximise light and airflow.&nbsp;

Many apartments include a study space, while select residences offer private outdoor areas. A total of 44 apartments have been designated as affordable housing for key workers, such as nurses, teachers and police officers.

[smartcode_project:default project_id=150067 project_image_fid=351413]

On top of its strong connectivity to the city, Deicorp has delivered significant new amenity to the area. The developer recently opened the 9,500sqm, four-level retail precinct at Hills Showground Village, which includes 26 specialty retailers and a 1,400sqm public plaza, creating a new community hub for shopping, dining, fitness, and everyday convenience. Castle Towers, one of Australia’s largest shopping centres, is also just one Metro stop away.

Between Hills Showground Village and Showground Pavilions, Deicorp is delivering more than 1,300 new homes to the rapidly growing Castle Hill precinct, representing a $2 billion investment in the suburb.

Showground Pavilions is one of several Metro-linked projects in Deicorp’s pipeline, joining developments at Tallawong Village, Zetland, Five Dock, Macquarie Park and Crows Nest.

[smartcode_project_cta:default project_id=150067]

Deicorp expands Castle Hill footprint with Showground Pavilions launch

The completion of Melrose Park Village marks a significant achievement in the evolution of one of Sydney’s largest urban renewal projects, developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>.&nbsp;

Located in the city’s north-west, <a href="https://www.apartments.com.au/new-apartments/melrose-park-village-2a-2f-appleroth-street-nsw-2114">Melrose Park Village</a> represents the fourth completed stage in the broader $5 billion Melrose Park masterplan, which will ultimately bring over 6,000 new homes, a town centre, new schools and 52,000 sqm of green open space.

The completion of Melrose Park Village delivers 421 apartments across six buildings ranging from six to thirteen storeys, all centred around a 4,000 sqm landscaped courtyard designed as a communal “urban backyard” for residents.&nbsp;

The project is now 96 per cent sold, with 14 premium three-bedroom apartments remaining in the final building. Each offers two car spaces with prices starting from $1.259 million.

Alex Grujovski, Project Director, Apartment &amp; Mixed-Use Developments, said “Sekisui House Australia is proud to celebrate the completion of Melrose Park Village, which stands as a sustainable and connected community in the heart of Sydney’s north-west.&nbsp;

“This project represents a pivotal step in our long-term vision for <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a>, reflecting our commitment to creating communities that blend nature, technology and human connection. Since 2020, we have delivered over 1,075 apartments across four stages, each designed to enhance wellbeing, connectivity and convenience through exceptional architecture and resident-focused amenities.”

[smartcode_project:default project_id=150065 project_image_fid=356089]

Residents benefit from an array of lifestyle facilities including a 4,000 sqm internal park, rooftop gardens and BBQ areas, wellness amenities such as an infrared sauna, yoga studio and gymnasium, plus co-working spaces, pet wash facilities, EV charging stations and a resident shuttle bus.&nbsp;

Sustainability remains at the core of the precinct with rooftop solar, smart energy meters, air and water filtration systems and groundwater reuse technology supporting efficient resource use.

Melrose Park Village was designed by <a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>, who have led the design of the broader Melrose Park masterplan since inception, developing architectural principles that continue to guide the precinct’s evolution.

Michael Heenan, Design Lead at AJC Architects said the design is completely generated by AJC’s Urban Backyard concept.

"At the heart of Melrose Park Village is a generous green courtyard, a shared backyard for all residents. We designed it at the scale of a local park, a place for families to live, play and grow, capturing the spirit of the Australian backyard.”

The courtyard features nature play areas, a climbing wall and open lawns for social and recreational use. Heenan added that the team’s approach to smart city design, carbon capture and sustainability guided every aspect of the project.&nbsp;

“Stage 4 reflects our belief that density can improve liveability. By integrating architecture, landscape and open space, we have created a model for sustainable urban living that feels contemporary and distinctly Australian.”

&nbsp;

[smartcode_project:default project_id=150065 project_image_fid=356088]

&nbsp;

Melrose Park Village was delivered in partnership with <a href="https://www.apartments.com.au/builders/parkview">Parkview Constructions</a>, a trusted builder with whom Sekisui House Australia has delivered thousands of apartments across Sydney over the past 15 years.&nbsp;

Upon completion, Melrose Park will deliver more than 6,000 dwellings, 52,000 sqm of open green space featuring over 1,400 mature trees, new transport connections, a town centre set to open in 2026 and Melrose Park High School which is currently under construction and due to open in Term 1 2027.&nbsp;

This milestone marks another major step towards realising Sekisui House Australia’s vision to transform a former industrial site into a future-ready neighbourhood for over 12,000 residents.

[smartcode_project_cta:default project_id=150065]

Completion of Melrose Park Village marks a major step forward in $5 billion masterplan

Chevron Island

Brisbane-based Ention Properties are set to bring New York to the Gold Coast's Chevron Island with their contemporary apartment development, Greenwich.

Inspired by New York's iconic Flatiron building, which just sold for $161 million, Greenwich has been designed by Ferro Chow Architects to reflect architecture that is more frequently seen in The Big Apple.

[smartcode_project:default project_id=6647 project_image_fid=171555]

Ention revised the plans for Greenwich during its development phase, reducing the apartment numbers from 48 to 46 while also increasing the number of levels to 15, which allowed for much larger apartments.

Ferro Chow sought to create an atmosphere that harmonises classical elegance with the natural elements of the coastal environment, with a mix of two, three and five-bedroom apartments soon set to adjoin Korman Family Park.

One of the defining features of Greenwich is its signature arched floor-to-ceiling windows. The windows not only provide uninterrupted views of the surrounding parkland, Nerang River, and picturesque hinterland backdrop, but they also flood the apartments with an abundance of natural light.

Fresh wide-plank oak floors further enhance the bright and open plan layouts, while seamlessly blending elegance with coastal charm.&nbsp;

[smartcode_project:default project_id=6647 project_image_fid=183797]

The kitchens will feature marbled stone cladding and uniquely formed island benches, coupled with solid countertops and brushed nickel hardware.

Crowning the tower will be a rooftop garden, with the elevated oasis including various lounge and seating areas, each offering unobstructed city and water views.&nbsp;

Even before its public launch in 2021, Greenwich had already captured the attention and interest of buyers, with many eager to secure their own slice of New York grandeur wedged into the Gold Coast lifestyle.

Greenwich even set the Chevron Island apartment record when a penthouse was sold off the plan for&nbsp;$4.25 million.

Read more:&nbsp;<a href="/news/qld/chevron-island-penthouse-record-set-in-new-york-style-apartment-development-greenwich">Chevron Island penthouse record set in New York-style apartment development, Greenwich</a>

[smartcode_project_cta:default project_id=6647]

Ferro Chow sought to create an atmosphere that harmonises classical elegance with the natural elements of the coastal environment, with a mix of two, three and five-bedroom apartments soon set to adjoin Korman Family Park

alisonwarters@gmail.com

Greenwich Chevron Island: New York grandeur matched with the Gold Coast lifestyle

When it comes to urban living with a relaxed attitude, Chevron Island’s village is the place to be.&nbsp;

Uniquely located between the suburbs of Surfers Paradise and Bundall but separated by the waters of the Nerang River, Chevron’s charm comes through its connection to the surrounding suburbs whilst still seeming worlds away.

And now, a new luxury tower is set to take centre stage in the sought after suburb with Aniko's Orama.

[smartcode_project:default project_id=111898 project_image_fid=209595]

Orama, which means "vision" in Ancient Greek, is a 21-storey tower that will offer 102 luxury residences. The development's unparalleled location next to the water and just a few steps away from the heart of the Gold Coast – Surfers Paradise – gives residents not only unparalelled views but also a remarkable amount of privacy.

Despite its proximity to Surfers Paradise, Chevron Island is a quiet residential suburb that's perfect for people who want to live near the beach without the noise and crowds of a busy tourist destination.

And with the newly developed Green Bridge linking residents to Surfers Paradise, Chevron Island is also a key extension of the Arts and Culture Precinct, headquartered at the famed Home of The Art (HOTA).

Orama residents will be able to enjoy a host of fine dining restaurants, eateries, and cafes just a short stroll away. Places like Fu Manchu Oriental, Bottega Italian Restaurant, and Palette Restaurant offer a range of dining options for discerning palates.

[smartcode_project:default project_id=111898 project_image_fid=209597]

Located at 12-16 Weemala Street, Orama sits just off from the main drag of Chevron Island, with Thomas Drive featuring a crop of boutique retailers amongst the offerings as well as the Colin Sweeny Art Gallery, Chevron Island’s fishing platform and Chevron’s Rowing Club also sitting amongst the wealth of amenity surrounding the residences.

Other nearby destinations for shopping, dining, and world-class entertainment include Pacific Fair Shopping Centre, Capri on Via Roma, and The Star Casino.

And with easy access to public transport, major shopping centres, and entertainment venues, Chevron Island is a central location that's perfect for busy urbanites.

Chevron Island is also only a short walk from some of the Gold Coast's most popular beaches, such as Surfers Paradise Beach, Broadbeach, and Burleigh Heads. This makes it the perfect location for those who want to enjoy the sun, sand, and surf without having to travel far from home.

[smartcode_project_cta:default project_id=111898]

Despite its proximity to Surfers Paradise, Chevron Island is a quiet residential suburb that's perfect for people who want to live near the beach without the noise and crowds of a busy tourist destination

Why the village vibe of Chevron Island is drawing attention

Nothing breeds confidence in the off the plan property market like firm construction timelines.

Completion dates can be the overarching factor in a prospective buyer's decision to purchase or not.

In the off the plan purchasing journey, most buyers have an idea when they want their new property to be ready, and will base the timelines of their current living situation around that.

A number of projects on the Gold Coast are at development application stage, and there are a number which are approved but are waiting for two factors; market conditions to change to become slightly more favourable based on their product mix, and build costs to come down a little further before announcing they're on the market.

We've wrapped up the top apartment projects currently aiming for a 2024 completion date.

<h2>Project: Orama 
Location:&nbsp;Chevron Island&nbsp; 
Developer: Aniko Group</h2>

Promionent developers Aniko has branched out from Hope Island, taking to the burgeoning Chevron Island for their latest development.&nbsp;

Orama will rise 21 levels at 12-16 Weemala Street, conveniently located just off Thomas Drive, the retail, food and cafe hub that dissects the island.&nbsp;

[smartcode_project:default project_id=111898 project_image_fid=209175]

The site is also located on the sought-after eastern side of Chevron Island, which makes it just a short 950 metre walk over the bridge to the heart of Surfers Paradise.

102 apartments will be constructed within the tower, which Aniko is tipping to be completed by late 2024.

[smartcode_project:default project_id=111898 project_image_fid=209594]

Six residences will take up a spot across each floor, with the lower levels comprising two-bed, two-bath configurations, while the higher levels will feature three-bedroom skyhomes and two penthouses.&nbsp;

Plus Architecture has designed the tower, which will feature a sprawling rooftop recreation area overlooking Surfers Paradise.&nbsp;

The entire 21st level will house a lap pool and spa with 180 degree views across the ocean, a gym with a sauna and a yoga space, and a business lounge with private offices, booths, and a boardroom.

Read more:&nbsp;<a href="/news/qld/aniko-launch-orama-apartments-on-chevron-island">Aniko launch Orama apartments on Chevron Island</a>

Read more:&nbsp;<a href="/news/qld/creating-a-sense-of-community-the-rooftop-terrace-set-to-bring-orama-chevron-island-residents-together">"Creating a sense of community": The rooftop terrace set to bring Orama, Chevron Island residents together</a>

<h2>Project: Cascade 
Location: Robina 
Developer: Andrews Projects&nbsp;</h2>

The Danny Andrews-led Andrews Projects has seen keen interest from buyers since launching their Robina project Cascade to the market.&nbsp;

The group has secured $125 million in pre-sales at the $250 million 116 Lavar Drive project, with its desirable location in the heart of the master planned suburb a major drawcard.&nbsp;

[smartcode_project:default project_id=135618 project_image_fid=208702]

Two boutique 15-storey towers will be constructed across the site, offering a mix of two and three-bedroom apartments, as well as an exclusive collection of three-bedroom penthouses.&nbsp;

The residences will feature large open plan kitchens, living and dining spaces, along with full-height double glazed windows, Miele appliance, Caesarstone benchtops and fully ducted air-conditioning.&nbsp;

[smartcode_project:default project_id=135618 project_image_fid=208703]

A 25-metre magnesium pool, gym, spa pool and sauna form part of the state-of-the-art wellness centre set to be on offer in Cascade, while generous landscaping complements the lush communal areas which include an amphitheatre and private poolside cabanas.

Cascade is also planning for a late 2024 completion date, with a number of two and three-bedroom floorplans still remaining.&nbsp;

Read more:&nbsp;<a href="/news/qld/andrews-projects-launches-cascade-robina-apartments-scoring-125-million-in-pre-sales">Andrews Projects launches Cascade, Robina apartments, scoring $125 million in pre-sales</a>

<h2>Project: Rhythm Kirra Hill 
Location: Coolangatta&nbsp; 
Developer:&nbsp;Immerse Projects</h2>

Immerse Projects also joins the list, with Rhythm Kirra Hill.&nbsp;

40 coastal apartments are being constructed across the site, in what is the first project to be launched&nbsp;under the newly branded development company.&nbsp;

[smartcode_project:default project_id=112169 project_image_fid=207366]

Designed by award-winning firm BDA Architecture, Rhythm Kirra Hill will capture the essence of a modern coastal lifestyle with a selection of two-bedroom, two-bathroom apartments across the seven-level building, with five different floorplans on offer.

The apartments range in size from 95 sqm to 157 sqm, with the project tipped to appeal to a broad range of buyers.&nbsp;

Rhythm Kirra Hill will feature a host of tailored amenities framed by sub-tropical landscaping, with the rooftop featuring a pool, barbecue area, and sun lounge deck, in addition to the ground-level amenity which includes a sauna, gym, meeting room, and an outdoor shower.

[smartcode_project:default project_id=112169 project_image_fid=207368]

Located in the heart of Coolangatta, residents will be just 150 meters from the shopping, dining and entertainment precinct along The Strand, while also being just a short stroll from a number of beaches, cafes and restaurants.

One, two and three-bedroom apartments can still be purchased in the development, with construction due to wrap by early 2024.&nbsp;

Read more:&nbsp;<a href="/news/qld/rhythm-kirra-hill-brings-affordability-back-to-kirra">Rhythm Kirra Hill brings affordability back to Kirra</a>

<h2>Project: Yves 
Location: Mermaid Beach 
Developer: Hirsch &amp; Faigen</h2>

Hirsch &amp; Faigen’s $200 million Yves is set to wrap on construction in August next year.&nbsp;

Comprising 145 luxury residences, all the one-bedders have been sold in the Mermaid Beach development, with just two and three-bedroom apartments remaining, in addition to the remaining half-floor and full-floor sub-penthouse and penthouse. &nbsp;

[smartcode_project:default project_id=102451 project_image_fid=186075]

Construction giant Hutchinson's began the build in May last year on the prime 7-9 Mermaid Avenue site, just metres from the famed Hedges Avenue beachfront strip.&nbsp;

Designed by Rothelowman, the project is the third Gold Coast development for Hirsch &amp; Faigen, with each building crowned by outdoor rooftop seating.&nbsp;

[smartcode_project:default project_id=102451 project_image_fid=194832]

Residential amenity will feature in the shared lobby, which have been designed as greenhouses to create a suburban feel.&nbsp;

A north-facing swimming pool will be the centrepiece of the offering, with the space complete with an additional pool and yoga deck, a gym, sauna, recreation lounge and barbecue seating.

Read more: <a href="/news/qld/secure-yves-mermaid-beach-apartments-with-just-a-10k-deposit">Secure Yves, Mermaid Beach apartments with just a $10k deposit as Coposit launches in Queensland</a>

Read more:&nbsp;<a href="/news/qld/why-locals-are-buying-an-yves-mermaid-beach-apartment">Why locals are buying an Yves, Mermaid Beach apartment</a>

Read more:&nbsp;<a href="/news/qld/hirsch-faigen-appoint-hutchinson-builders-to-deliver-gold-coast-apartment-development-yves">Hirsch &amp; Faigen appoint Hutchinson Builders to deliver Gold Coast apartment development, Yves</a>

<h2>Project: The AU 
Location: Surfers Paradise 
Developer: ASF Group</h2>

The AU takes up shop along Surfers Paradise's renowned Esplanade.&nbsp;

The luxury development gives residents the chance to live right on the beach, while being just moments from all Surfers has to offer, along with the rest of the Gold Coast.&nbsp;

[smartcode_project:default project_id=6762 project_image_fid=187228]

The 19-storey development delivers a collection of 12 full floor and two tri-level penthouses, which have been designed by Archidiom with interiors by the renowned&nbsp;Greg Natale.

Everything about the homes exudes timeless and opulent luxury, with triple-height glazing, showcasing unbeatable ocean vistas and filling each living area with natural light, as well as detailed marble flooring and structural columns with an art-deco style fluted pattern.

Residents of The AU will also have exclusive access to the on-site club which features a sun deck and lounge, sauna, gymnasium, barbeque and dining area and an ocean-view pool.

[smartcode_project:default project_id=6762 project_image_fid=187221]

Just a handful of four-bedroom residences remain in the Surfers Paradise development, with construction slated to wrap by the end of 2024.&nbsp;

Read more:&nbsp;<a href="/news/qld/how-the-au-maximises-the-surfers-paradise-beachfront-more-than-any-other-development">How The AU maximises the Surfers Paradise beachfront more than any other development</a>

Read more:&nbsp;<a href="/news/qld/how-the-french-art-deco-influence-inspired-greg-natales-design-of-the-au-surfer-paradise-apartments">How the French Art Deco influence inspired Greg Natale's design of The AU, Surfer Paradise apartments</a>

Read more:&nbsp;<a href="/news/qld/display-tour-video-the-au-by-asf-group-at-52a-the-esplanade-surfers-paradise">Display Tour Video: The AU by ASF Group at 52A The Esplanade, Surfers Paradise</a>

Completion dates can be the overarching factor in a prospective buyer's decision to purchase or not

Top five Gold Coast apartment developments completing construction in 2024

Extensive amenity was a key component when Aniko Group were putting together plans for their maiden Chevron Island apartment tower, Orama.

Working with Plus Architecture, Aniko have produced an impressive set of facilities for future residents of Orama, and they're all located on the roof.

They're offering a range of indoor and outdoor spaces, with 180 degree ocean views across Surfers Paradise and the Gold Coast waterways.

The 550 sqm rooftop on level 21 will feature a striking lap pool and spa, which take in the best views.

[smartcode_project:default project_id=111898 project_image_fid=209597]

A gym, sauna, and a yoga space form a wellness-style zone, while there's extensive work from home facilities in the form of private offices, booths, and even a boardroom.

A number of indoor and outdoor dining spaces will also feature.

George Mastrocostas, Aniko Group's Founder and Managing Director, believes that the inclusion of amenity in the modern day enhances the desirability of a property and contributes to the pleasure and enjoyment of residents.

[smartcode_project:default project_id=111898 project_image_fid=209594]

"Amenities play a major role in a purchasers choice," Mastrocostas said.

"For many buyers, the amenities are a key deciding factor when comparing projects of a similar scale or nature, as society continues to prioritise convenience in their everyday lives.

"This has lead Aniko Group to ensure we incorporate a range of amenities in our residential apartment projects, which can be seen with the inclusions on the Orama rooftop."

Orama, which translate to 'vision' in Ancient Greek, will comprise 102 apartments, targeting a mainly owner-occupiers demographic, with a mix of two-bedroom apartments, three-bedroom skyhomes, and two luxury penthouses.&nbsp;

Mastrocostas says that when you purchase an Aniko apartment, you are purchasing more than simply a place to arrive after work. You are purchasing a personal haven rich in social infrastructure.

"Aniko derives from the Greek word 'to belong'," Mastrocostas said.

[smartcode_project:default project_id=111898 project_image_fid=209175]

"We aim to create a sense of community and belonging in all our projects and this is achieved primarily through engaging people in some form and that’s where amenities play a vital role.

"They give residents an opportunity to meet other people that live there and use the amenities, hence helping form a sense of community and belonging."

Orama is Aniko's first foray on Chevron Island, having extensively redeveloped Hope Island with their&nbsp;$125 million Athena Residences, $145 million Athena Quays, and the $56 million 35 Grant Ave Residences.

They've also recently unveiled plans for a <a href="/news/qld/aniko-lodge-plans-for-1-5-billion-mermaid-beach-development">landmark $1.5 billion four-tower project at Mermaid Beach</a>, just across the road from Pacific Fair.&nbsp;

[smartcode_project_cta:default project_id=111898]

The 550 sqm rooftop on level 21 will feature a striking lap pool and spa, which take in the best views

"Creating a sense of community": The rooftop terrace set to bring Orama, Chevron Island residents together

Buyers following the journey of developer Aniko Group are set to be offered something different in the prominent developer's portfolio.

Aniko, who have been responsible of the extensive residential development on Hope Island over the last few years, are branching out, but sticking with island life.

Their latest project to launch is Orama, on the in-demand Chevron Island, which has seen a boom in development in the last few years since the establishment of the Home of the Arts (HOTA) precinct.

Orama will rise 21 levels from 12-16 Weemala Street, conveniently located just off Thomas Drive, the retail, food and cafe which dissects the island. The site, put together by GV Property Group, is also located on the sought-after eastern side of Chevron Island, which makes it just a short 950 metre walk over the bridge to the heart of Surfers Paradise.

[smartcode_project:default project_id=111898 project_image_fid=209174]

There will be 102 apartments in the tower, six units per floor on the lower levels comprising two-bed, two-bath units with a study, and most with two car parks. Prices start from $795,000.

&nbsp;

On the higher levels there are three-bedroom skyhomes and two penthouses.

Plus Architecture has designed the tower, noting in their submission that they&nbsp;always design with the intent to produce buildings that are not only beautiful, but considered, functional and lasting.

A statement of Aniko's efficiency in the development space, they've taken just 10 months to go from site acquisition to project launch, having secured the sqm site in February. They got the green light from the Gold Coast City Council in October, and are expecting to start construction in the first half of next year.

Aniko Managing Director George Mastrocostas said they were extremely happy to have council approval behind them, as they now look to the next phase of delivering Aniko’s signature dose of luxury to Chevron Island

“With all approvals now in place, we are looking forward to carrying the next luxury offering into Chevron Island, which will be competitively priced against other off the plan stock in the area,” Mastrocostas said.

[smartcode_project:default project_id=111898 project_image_fid=209175]

&nbsp;

While still delivering their projects on Hope Island, Aniko looked away from the popular pocket to bring something new to their portfolio.

“This pocket of the Gold Coast has a unique character that you can’t replicate elsewhere – its exclusive, its vibrant and its quickly becoming one of the most sought after residential enclaves on the coast,” Mastrocostas said.

“Orama is just a short walk to Surfers Paradise, the beach, the Gold Coast’s cultural heart and all the amenities the central Gold Coast has to offer.”

Mastrocostas said the apartment development would appeal to a wide buyer demographic, from discerning owner occupiers through to long-term investors when it launches to the market in the coming months.

[smartcode_project:default project_id=111898 project_image_fid=209176]

“This project will cater to a broad market of buyers, from the interstate migrants to local downsizers or luxury upgrader, its idyllic layout makes it the ultimate location for households both big and small."

The rooftop of Orama will feature a sprawling rooftop recreation area overlooking the Surfers Paradise skyline.

The full 21st level will home a&nbsp;lap pool and spa with 180 degree views across the ocean, a gym with a sauna and a yoga space, and a business lounge with private offices, booths, and a boardroom.

[smartcode_project_cta:default project_id=111898]

Aniko launch Orama apartments on Chevron Island

Chevron Island is set to welcome its first ever two-tower development.

A private local developer has submitted plans for what will be Chevron Island's second largest development, with 277 apartments planned across two 30 and 35-level towers.

Site amalgamation specialists GV Property Group sold the 17 Illawong Street site, a huge 3,033 sqm site which straddles Illawong and Dalpura Streets, on behalf of 20 unit owners in a tired 1960s block of townhouses.

<a data-entity-type="file" data-entity-uuid="e2fff24b-afd7-4bbf-94c5-07718a74e7c9" href="/new-apartments/illawong-surfers-paradise-17-illawong-street-chevron-island"><img alt="Chevron tower" data-entity-type="file" data-entity-uuid="e2fff24b-afd7-4bbf-94c5-07718a74e7c9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202022-11-02%20at%205.10.45%20pm.png?VersionId=oLz5rfoyZDR.G.ZlUaZXLZP87dhPyg.Z" /></a>

Plus Architecture say the two tower scheme was a response to views, shaping the towers to respond to views in all directions.

"Views to the hinterland to the west, views to Southport Spit to the north, views of the Nerang River to the south and most importantly views of Surfers Paradise and the ocean to the east," Plus noted in the design statement submitted to the local council.

"Starting with such a primary function – achieving broad vistas in all directions – the planning was simple."

Plus said that a significant amount of time was spent crafting the floor plates into sculpted forms that not only responded to the views but worked to create a delicacy of form, cast shadow and create movement when viewed from each direction.

<a data-entity-type="file" data-entity-uuid="a211dd20-8899-4148-aa8e-7c44cf21814c" href="/new-apartments/illawong-surfers-paradise-17-illawong-street-chevron-island"><img alt="Chevron Tower" data-entity-type="file" data-entity-uuid="a211dd20-8899-4148-aa8e-7c44cf21814c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202022-11-02%20at%205.10.14%20pm.png?VersionId=1RiCUKF5nMR2dy93GyB_JjAxRI1Xdna0" /></a>

"The two residential towers work together in almost perfect symmetry, offset but balanced to respect orientation but also allow for privacy, light and setback within the site."

There will be 126 apartments in the northern tower, a mix of 72 two-beds and 51 three-bed units. The southern tower, the taller of the two, will have 87 two-beds, 61 three-bed apartments, and three four-bedroom penthouses, a total of 151 units.

Level 28 of the northern tower will feature three sub-penthouses. Levels 29 and 30 of the northern tower will have three double storey sky homes.

There will be the same layout across the southern tower, just at higher levels.

<a data-entity-type="file" data-entity-uuid="0782816b-44b5-47b4-9d65-7a9089771c02" href="/new-apartments/illawong-surfers-paradise-17-illawong-street-chevron-island"><img alt="Chevron Island" data-entity-type="file" data-entity-uuid="0782816b-44b5-47b4-9d65-7a9089771c02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202022-11-02%20at%205.10.39%20pm.png?VersionId=rVrT96sf08xsSYY2Q_c67jS1ttfDkqXr" /></a>

Typically there will be five apartments per floor. The floorplates of both towers have been designed with three units orientated to the north and two units to the south or east.

There will be 381 resident car parks across three levels of basement and two podium levels of parking, as well as an additional 30 visitor parking spaces on the ground level.

Resident amenity will occupy the top of the podium, shared across the two buildings. There will be an infinity pool, a gym with a yoga deck, a spa garden with a sauna and steam room and outdoor plunge and cold pools, an outdoor barbecue and dining area, a work from home lounge, and a private dining room.

Plus noted the height in the design, given the towers will be the second and third tallest on the Island.

"Height was another careful consideration in the design – sited in an unlimited height area it was critical that a balance of scale and form was achieved.

"One tower is 30 storeys in height and the other 35 storeys to introduce a dynamic perspective of the development from all angles. By altering the heights of the two towers the perceived bulk and scale is also reduced and the towers are read as having two distinct identities, one recessive, the other more prominent."

<a data-entity-type="file" data-entity-uuid="2371b124-ce77-4e1b-a558-00b62c292042" href="/new-apartments/illawong-surfers-paradise-17-illawong-street-chevron-island"><img alt="Chevron views" data-entity-type="file" data-entity-uuid="77bd9216-51b7-4660-9fd3-223fa6223e45" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202022-11-03%20at%2011.40.04%20am.png?VersionId=ZXYYHVPLS_qPO50lXIiKDkcWkuTbFlFZ" /></a>

There are currently nine developments either approved or under construction on Chevron Island, which has become a hotbed for residential development in recent years.

The Melbourne-based Bensons Property really kicked off the high-rise trend with Chevron One, the 41-level tower on Stanhill Drive currently under construction.

[smartcode_project:default project_id=6515 project_image_fid=68839]

Designed by global architecture practice Marchese Partners, the architects behind the iconic Bondi Icebergs, Chevron One Residences is rapidly earning the moniker of being the ‘millionaires’ tower’ with all remaining apartments priced well over $1 million. The project is now 60 per cent sold, and recently secured&nbsp;the highest price per sqm for an apartment on the Gold Coast.

The four-bedroom apartment, part of the Daylight Sky Homes collection, sold for $9 million to a well-known Sydney family, who intend to make the luxury apartment a local base for their vacations and school holidays. The family also acquired a three-bedroom apartment for family members.

[smartcode_project:default project_id=6515 project_image_fid=68833]

The $9 million sale of apartment 3802 transacted at $25,000 per sqm, topping the previous record of $24,725 per sqm. The four-bedroom apartment spans over 364 sqm.

Brent Thompson's Siera is currently selling Tapestry, an arts-inspired project near Chevron One on Darrambal Street.&nbsp;

[smartcode_project:default project_id=108641 project_image_fid=192963]

The development approved-project of 113 apartments, on the sought-after eastern side of Chevron Island near the bridge that takes residents over to Surfers Paradise, pays homage to Chevron Island's arts and cultural precinct.

Inspired by HOTA and designed to be a ‘home amongst the art’, Tapestry will feature one of the most impressive rooftop amenity's on the island, with a sunken swimming pool, gym, and private dining area.

There's Nina by Macquarie York also being developed on Chevron, their second project on the island after Allure. There's also Citimark's Mirador at&nbsp;8 Mawarra Street

Brisbane developer Ention's Greenwich, a design inspired by New York's Flatiron building, is all-but sold out.

Currently awaiting approval is Vaun Developments' Aurum project, which will bring something different to Chevron Island.

Vaun Developments, led by young entrepreneur Luke Vaughan who founded and now runs Gold Coast estate agency Crown Realty, and his business partner, construction industry veteran Geoff&nbsp;Pontefract, are plotting a boutique project of just eight two-level apartments, each set to have nearly 320 sqm of internal space, four bedrooms, a multipurpose room, and a study. Each level of the apartments will open to a 23 sqm balcony space.

Aurum, Latin for gold, will also have the largest apartment ever offered in Chevron Island. The massive penthouse will spans three levels and features its own rooftop pool and full barbecue kitchen.

&nbsp;

&nbsp;

Plus Architecture say the two tower scheme was a response to views, shaping the towers to respond to views in all directions

First look: Chevron Island set for its second biggest apartment project

Prominent Gold Coast developer Aniko Group are set to add another residential development to their portfolio.&nbsp;

The group is gearing up for its first foray into the Chevron Island market, as their plans for a striking new $110 million tower have been approved by the council.&nbsp;

Aniko, headed by developer George Mastrocostas, will deliver a collection of 102 apartments with a range of spacious floorplans, with a mix of two and three-bedroom offerings.&nbsp;

The 21-storey tower will rise at 12-16 Weemala Street, with the 1518 sqm site to be crowned by a sprawling rooftop recreation area overlooking the city skyline.

<a data-entity-type="file" data-entity-uuid="3b629b76-bdbd-45fc-899b-dc2bdf88e274" href="/new-apartments/orama-chevron-island-12-16-weemala-street-chevron-island"><img alt="Render of the Chevron Island apartment development on Weemala St." data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/220421_70612_WEEMALA%20ST_TOWER%2005.png?VersionId=nV1C3IZZfcKzRBYFJf.lR7XBk00N6eiQ" /></a>Render of the Chevron Island apartment development on Weemala St.

Mastrocostas said they were extremely happy to have council approval behind them, as they now look to the next phase of delivering Aniko’s signature dose of luxury to Chevron Island

“With all approvals now in place, we are looking forward to carrying the next luxury offering into Chevron Island, which will be competitively priced against other off the plan stock in the area,” Mastrocostas said.&nbsp;

Positioned in the south-east pocket of Chevron Island, the project will reside just a stone’s throw from the suburb’s thriving dining and retail strip and the city’s emerging cultural precinct at HOTA.

“This pocket of the Gold Coast has a unique character that you can’t replicate elsewhere – its exclusive, its vibrant and its quickly becoming one of the most sought after residential enclaves on the coast,” said Mastrocostas.

“The Chevron project is just a short walk to Surfers Paradise, the beach, the Gold Coast’s cultural heart and all the amenities the central Gold Coast has to offer.”

Mastrocostas said the apartment development would appeal to a wide buyer demographic, from discerning owner occupiers through to long-term investors when it launches to the market in the coming months.

“This project will cater to a broad market of buyers, from the interstate migrants to local downsizers or luxury upgrader, its idyllic layout makes it the ultimate location for households both big and small,” said Mastrocostas.

&nbsp;

<a data-entity-type="file" data-entity-uuid="9afe7678-f683-4c10-9370-41faccf8e9e8" href="/new-apartments/orama-chevron-island-12-16-weemala-street-chevron-island"><img alt="Render of the Chevron Island apartment development on Weemala St." data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/220421_70612_WEEMALA%20ST_PODIUM%2003.png?VersionId=kuIV9JRlpyIH4Bv.OHcDH5EGlLa1sx0m" /></a>Render of the Chevron Island apartment development on Weemala St.

Leading Southeast Queensland architecture firm, Plus Architecture has been engaged to design the Chevron Island project, with Director Danny Juric saying the design is both sophisticated and functional.&nbsp;

“We’ve worked closely with Aniko Group to evolve a design that captures the true essence of the distinct village atmosphere of Chevron Island,” Juric said.&nbsp;

The Chevron residences will be priced from $795,000 with construction scheduled to commence mid 2023.

Over the past decade, Aniko Group has created over 2000 ‘next generation’ living spaces for residents that maximise the enviable lifestyle in Queensland.

With a workbook of completed and underway projects to the tune of over $2 billion, Aniko Group has established itself as one of South-East Queensland’s leading developers of innovative, luxury residences and commercial properties.

[smartcode_project_cta:default project_id=111898]

The 21-storey tower will rise at 12-16 Weemala Street, with the 1518 sqm site to be crowned by a sprawling rooftop recreation area overlooking the city skyline.

Aniko greenlit for first Chevron Island apartment tower 

In off the plan property, both reputation and a solid track record are everything.

Ultimately it was the two combined which saw investors Phil and Linette Crowhurst buy two apartments in Tapestry, the arts-inspired Chevron Island apartment development by Siera.

[smartcode_project:default project_id=108641 project_image_fid=193359]

“We were looking specifically on Chevron Island and there were only a small number of projects going up at the time,” Phil said.&nbsp;

“Siera seemed like it had a great reputation and we understand that they’re maintaining the management rights for the building so that gives us comfort that the building will be looked after on an ongoing basis.

“It's their asset and our asset, and we’re very happy with that."

Siera recently branched out into the multi-residential Gold Coast apartment market, having previously created high-end townhouses in and around Brisbane.

[smartcode_project:default project_id=108641 project_image_fid=205167]

Their founder and managing director Brent Thompson, who sits on the board at the UDIA, spent six to 12 months splitting his time between Brisbane and the Gold Coast, understanding everything about the local market, what people were buying, and what was being developed.

Phil and Linette had too been watching the local market for quite some time, and had noticed the continued demand for quality apartments on the Gold Coast.&nbsp;

“From an investment point of view, there's been a huge influx of people coming up to Queensland and particularly the Gold Coast in the last couple of years for obvious reasons and the research we've done seems to state that that's just going to continue and demand for good quality apartments ideally will just continue to grow,” Phil added.&nbsp;

Phil said the reason they chose to buy off the plan was to essentially benefit from the launch pricing.&nbsp;

[smartcode_project:default project_id=108641 project_image_fid=192972]

“We bought off the plan to benefit from the launch pricing, which is generally cheaper as the prices escalate as demand increases and Tapestry has already gone up at least five per cent,” he said.&nbsp;

Located on Darrambal Street, Tapestry benefits from its enviable location, attracting keen owner-occupiers, the demographic which Phil and Linette are hoping to lease to.&nbsp;

“If you're prepared to live in your investment, then your tenants will be too, and that's really key – and we would definitely live here,” Phil noted.

“We were specifically looking for non holiday let investments more so to lease to families or singles,” Phil said.&nbsp;

[smartcode_project:default project_id=108641 project_image_fid=205167]

Nearby to not only the redeveloped HOTA precinct, Tapestry also benefits from sitting close to a number of restaurants, retail, and recreational offerings as well as being just a bridge away from Surfers Paradise.&nbsp;

“Tapestry is certainly in a great location. It's not right on the beach and it's not in the hinterland but it still has a green aspect to it. It's got a lot of great infrastructure, a nice main street with Thomas street offering plenty of great restaurants, along with access to HOTA across the bridge and plenty of parklands and areas for kids to play. It just seems to be really well located."

Within Tapestry residents will be at home to a suite of resort-inspired amenities, including a private dining space, which can be closed off to the rest of the rooftop, an infinity pool with views across Surfers Paradise, a gym, and outdoor lounge areas.

[smartcode_project:default project_id=108641 project_image_fid=192964]

Linette said she loved the&nbsp;rooftop amenities and everything that it has to offer.

“The resort style pool, the alfresco barbecue area and the most important for me, being a gym junkie, is the sky gym,” she said.&nbsp;

Tapestry will deliver 113 residences upon completion in late 2024.&nbsp;

[smartcode_project_cta:default project_id=108641]

Phil and Linette had been watching the local market for quite some time, and had noticed the continued demand for quality apartments on the Gold Coast.

Why an investor bought two apartments in Chevron Island's Tapestry

The latest market research from Colliers shows the sales of new apartments on the Gold Coast continues to only edge higher.&nbsp;

In the June quarter prices were pushed higher, even amid the city’s ongoing supply shortage and interest rate rises.&nbsp;

[smartcode_project:default project_id=107928 project_image_fid=184933]

The research, supported by data from Urbis, has revealed 396 sales of new apartments in the quarter, up from 377 sales three months earlier, despite the Reserve Bank of Australia lifting the cash rate for the first time in more than a decade during the middle of the quarter last May.

Critically, the data shows the average price paid for these apartments was $1.117 million - or 3.8 per cent higher than the previous three months, which is just shy of the record high of $1.143 million reached in the September quarter of 2020 during the height of the pandemic.

Director of Colliers Residential Gold Coast, David Higgins said the latest report reveals a general trend of declining sales of new apartments since the record high of 742 in the March quarter last year.

“The latest quarter’s sales may be slightly higher than the March quarter but well down on the extraordinary peak we saw in the first quarter of last year,” said Higgins.

[smartcode_project:default project_id=107520 project_image_fid=183045]

“However, sales over the 18 months to June this year have all been significantly higher on a quarterly basis than the preceding 18 months and that reflects sustained demand in the market even through the first two interest rate increases.”

The number of apartments remaining for sale across the 81 Gold Coast projects surveyed for the report was 875 – up from 411 in the March quarter as more projects were released to the market.&nbsp;

But that still represents just 5.5 months of supply based on the current sales rate.

Colliers expects supply constraints and ongoing demand to continue driving apartment prices higher on the Gold Coast in the near term.

Director in Charge of Colliers Gold Coast, Steven King, said the findings in the report were reflective of the Gold Coast’s product shortage and continuing market strength.

[smartcode_project:default project_id=107928 project_image_fid=198887]

“Supply of new apartments is falling due to the increased cost of construction, which for high rise apartment projects over the last 16 months has risen by more than 25 per cent,” said&nbsp; King.

“Demand for new apartments remains solid but with a reduced supply of new projects and apartments, we expect apartment prices to continue rising especially if the supply shortage becomes more critical.”

The report also shows the Gold Coast capped of the 2022 financial year with a total of 2,073 new apartment sales.&nbsp;

Three-quarters of these were located along the coastal strip from Southport to Coolangatta with almost half, or 49 per cent, in the Gold Coast Central precinct which includes Broadbeach and Surfers Paradise.&nbsp;

The Southern Beaches precinct from Mermaid Beach to the southern border accounted for 26 per cent of the year’s total sales.

[smartcode_project:default project_id=107520 project_image_fid=183047]

Among other key findings in the latest research is an increase in offshore investors entering the market during the June quarter with four per cent of total sales during the period requiring Foreign Investment Review Board approval. The number of FIRB sales was up three per cent compared with the March quarter this year.

“There’s an emerging trend of foreign purchasers gradually re-entering the southeast Queensland investment market,” said Higgins.

“We’ve also noticed that the dynamic interest rate environment has had less of an effect on owner-occupier stock above $1.5 million in comparison to the bottom end of the market. Should they continue, both of these emerging trends will add another layer of continued demand pressure in the medium term.”

Higgins said the apartment market has been dominating sales momentum across all property sales on the Gold Coast over the past year.&nbsp;

[smartcode_project:default project_id=107928 project_image_fid=198886]

In the nine months from the 2021 September quarter to the March quarter this year, there was an increase of 55.1 per cent in house sales compared with a 104.4 per cent increase in apartment sales, led by a surge of buyer activity at the tail end of COVID.

“The Gold Coast metro’s house market shows continued signs of growth, but at a slower rate, which is welcome news for buyers,” concluded Higgins.

In the June quarter prices were pushed higher, even amid the city’s ongoing supply shortage and interest rate rises. 

Gold Coast apartment sales and prices edge higher amid ongoing supply shortage 

It will be the most sought-after tower on Chevron Island for years to come.

The under construction Chevron One, the only high-rise tower on the exclusive island currently under construction by Melbourne developer Bensons, will offer its future residents exclusive benefits to Chevron Island's Home of The Arts (HOTA), the striking gallery space which put Chevron Island on the map when it was completed in early 2021.

It was a partnership that grew organically, Bensons General Manager of Sales and Marketing Andrew Crichton says.

[smartcode_project:default project_id=6515 project_image_fid=68838]

"The chairman of Bensons Property Group, Elias Jreissati AM and his wife Colleen have a long history of being avid supporters of Australian art and artists," Crichton says, adding that Bensons has&nbsp;incorporated art in its developments throughout its history of developing and delivering residences of distinction spanning nearly three decades.

What the HOTA partnership means for future residents of Chevron One is that they will receive a complimentary annual VIP membership to HOTA once they moved into their apartment, which is on track to be completed by the end of 2024.&nbsp;

"The membership offers priority access to exhibitions, VIP previews, and money-can't-buy experiences," Crichton said.

[smartcode_project:default project_id=6515 project_image_fid=167320]

The 41-level Chevron One has appealed to a mix of locals and interstate buyers looking at investing in the tower or relocating due. There's been a number of drivers which has lured buyers from across the country, one being the striking design by Marchese Partners. One of the primary objectives was to maximise the rare views that the skyscraper can offer compared to any other building on Chevron Island.

Each apartment features floor to ceiling windows to take advantage of the views which cover the Nerang River and surrounding islands below, the Surfers Paradise skyline, and the Gold Coast hinterland.&nbsp;The east facing tower and its location on Stanhill Drive means views can't be built out, even from the lower levels.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Another big differentiator between Chevron One and other surrounding projects is the extensive residential amenity, some 2,000 sqm of it. Residents will have access to not one, but two swimming pools, a library, a sculpture garden, and a Club One residents' lounge.

[smartcode_project:default project_id=6515 project_image_fid=68839]

Investors have been keen on the tower due to the tight rental market across the whole of the Gold Coast.

Chevron One will be the tallest tower on Chevron Island, with Bensons locking in the design with the Gold Coast City Council before planning laws on Chevron Island were tightened, only now allowing for a 33 metre tower, or up to 12 levels. Chevron One will rise 127 metres, with 228 apartments spread across the 41 levels.

[smartcode_project_cta:default project_id=6515]

What the HOTA partnership means for future residents of Chevron One is that they will receive a complimentary annual VIP membership to HOTA once they moved into their apartment

Chevron Island

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Chevron Island

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.