New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

Joel Robinson

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.

The project, to be known as Capella Residences Brisbane, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.

The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.

The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.

The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.

<img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" />

Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.

Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.

The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.

The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.

The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.

"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.

"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."

Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.

"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.

"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."

Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.

"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.

"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."

Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.

Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.

The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.

<img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" />

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.

"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.

"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.

"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."

<img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" />

Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.

The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.

"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.

"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."

Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.

"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.

"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."

Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.

[smartcode_project_cta:default project_id=113271]

Lewis Land targets first home buyers at latest Harbour Shores release, Solis

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

Gold Coast

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Architect Bayden Goddard's own home on the Gold Coast has been sold for $4.5 million after it was listed with a revised $4.9 million price tag.
It had been asking $5,295,000 when listed late last year.
Of course designed by the Melbourne-born architect, the Isle of Capri waterfront was acquired for $3 million in 2007 when Goddard and wife Jill bought it from photographer Louise Wolbers. 
Kollosche Prestige Broadbeach agent Michael Kollosche secured the sale.
Spanning 550 square metres of living space, the home has five bedrooms, four bathroom, multiple living areas, an alfresco dining pavilion and a 12 metre swimming pool with separate spa.
There's a 27 metre sandy beach on the 915 square metre waterfront parcel.
A pontoon is located just off the beach.
This article was first published in the Weekend Australian. 
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Architect Bayden Goddard sells own Gold Coast home he designed

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No. 1 Grant Avenue, which is owned by the Aniko Group, has taken the top spot in Gold Coast sales over the last quarter, according to the latest Urbis data.
The $140 million development was launched in mid-August.
It has reached 40 per cent sold in the September quarter with over $24 million in sales.
Aniko Group founder George Mastrocostas said the quality and affordability of No. 1 Grant Avenue together with its prime waterfront position had translated to swift sales.
"This has certainly resonated with the market,” said Mr Mastrocostas.
“No. 1 Grant Avenue is all about affordable luxury.”
The development follows the success of Three72 Marine Parade apartment project, also owned by Aniko, in Labrador which reached sell-out prior to construction completion and was the fastest selling project on the Gold Coast in 2018.
“We are thrilled to have followed the success of Three72 Marine with strong sales at our latest project and look forward to continuing to build on the success we’ve experienced so far,” Mr Mastrocostas said.
When complete, No. 1 Grant Avenue will comprise 210 apartments. Buyers will have access to a residents’ lounge, expansive pool with sundecks, a fully equipped gymnasium overlooking a children’s indoor play area, zen garden, private media room, barbecue facilities, a pet wash bay, secure basement parking and bridge free access to the Broadwater and the seaway.
The first stage is expected to be completed by mid-2020 and will comprise 105 apartments, ranging from one-bedroom, plus study to three-bedroom, plus study residences.  Apartments will range in size from 86 square metres to 199 square metres.
Prices start from $369,000.
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Aniko Group's No. 1 Grant Avenue tops Gold Coast sales

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The Sunland Group has placed the Mariner’s Cove Retail Village and Marina in Main Beach on the market.
It is located adjacent to the 5-star Palazzo Versace Hotel, and opposite the Sheraton Grand Mirage Resort.
The Sea World theme park is located 1.8 kilometres north of the site.
Spanning 3.95 hectares, the waterfront site comprises the Mariner’s Cove Retail Village with a net lettable area of 4,278 square metres, and the 102-berth Mariner’s Cove Marina.
Sunland Group managing director, Sahba Abedian, said the decision to take the Mariner’s Cove precinct to market follows the completion of The Spit Masterplan, released in May.
“The Spit Masterplan sets a clear direction for development within this unique and internationally recognised coastal tourism precinct,” Abedian said.
The international campaign is being managed by James Branch, and Mark Witheriff, of Knight Frank.
Branch said future developments could include components of both a Premier 5-star hotel and residential apartments, maximising the benefits of the existing marina and high-grade marina facilities suitable for use by the growing super yacht market, as proposed by the Spit Masterplan.
The expression of interest campaign will close November 28.
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Sunland Group launches international expression of interest campaign for Mariner’s Cove

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In central Surfers Paradise, agents report variations in rates of return to investors, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the country. 
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"Older high rise units close to the beach have a high underlying land value component and are subject to higher council rates, which themselves are variable," the valuation firm said. 
For example, if the owner is an owner- occupier, there is a lower rates level. 
If the unit is let on a permanent basis the rates level is higher, and if it is holiday let, the rates level is higher again. 
According to the HTW report, this is just the rates themselves, not including the water rates which stay the same regardless.
However, if the property has an efficient water usage rating, it is permissible to pass on the water and sewerage rates to the tenant, which increases the return to the investor.
The Chevron Renaissance development is a modern circa 2004 three tower development comprising a total of 714 units plus retail and office use.
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A leading agent active in this development reports that investors are happier if they can achieve over a 4% net yield. 
This agent sold unit 2066 for $308,000 on 15 May 2009, being a two-bedroom, one-bathroom high-rise unit on level six within the holiday letting pool.
The unit receives a guaranteed rental of $26,500 per annum from on site management.
After outgoings, the net return is $14,746, showing a net yield of 4.78%.
In addition to the above return, the owner is also entitled to 14 nights personal occupation of the unit for their own use subject to terms and conditions, the HTW report noted. 
This agent also reports that the expected return on three-bedroom units in the development reduces to around 4% as the purchase price is much higher.
These higher returns are made possible by the higher expected occupancy rates achieved by the managers. This building is reportedly currently achieving around an 85% occupancy rate.
The Beachpoint development is an older circa 1978 development comprising a total of 142 units situated opposite the beach in central Surfers Paradise.
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A one-bedroom unit on the tenth floor with a south- west aspect and restricted ocean views is currently under unconditional contract for $260,000, with settlement due in less than two weeks. 
This unit is tenanted on a 12-month lease at $360 per week. 
Outgoings including rates, water and sewerage rates, and body corporate fees at $152 per week total $10,439 without landlord insurance which leaves $8,281 net income showing a net yield of 3.19%.
"This lower return is typical for older unit buildings with slightly lower occupancy rates and a higher underlying land value component per unit," the valuation firm commented. 
The agent selling the above property reports typical returns for this style of unit generally range between 2% and 3%.
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Further away from the beach in Carrara, a leading local agent reports that investors in cluster unit townhouse complexes aren’t stating what return they are chasing, but are very interested in the potential or actual rental return and want to know what the outgoings are including body corporate fees, rates and water charges and then they work out the net return themselves.
"Anecdotally he feels they are seeking over 4.5% and for nothing to require repair for the first 12 months," the valuation firm said. 
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j.ballantyne1990-6AQqhLzZaK

Central Gold Coast sees variations in rates of return to investors: HTW residential 

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The Gold Coast’s exclusive beachfront street Hedges Avenue has experienced a surge in sales.

The street known as Millionaire’s Row has seen eight beachfront homes change hands in 2019 compared with two in 2017 and 2018. 

Sales so far this year have included:

<ul>
<li>97 Hedges Avenue: a four-bedroom home that sold for $5.6 million</li>
	<li>223 Hedges Avenue: a five-bedroom home that sold for $6.325 million</li>
	<li>99 Hedges Avenue: a three-bedroom home that sold for $6.395 million</li>
	<li>19 Hedges Avenue: a five-bedroom home that changed hands $4.725 million.</li>
	<li>215 Hedges Avenue: a five-bedroom home that sold for $4.9 million</li>
	<li>49 Hedges Avenue: a vacant lot that sold for $4.2 million</li>
	<li>95 Hedges Avenue: a three-bedroom home that sold for $4.8 million</li>
	<li>135 Hedges Avenue: a four-bedroom home that was listed for $5.595 million, and is now under contract.</li>
</ul>
Agent Luke Henderson from John Henderson Professionals Mermaid Beach said prestige buyers were feeling confident about the economic future of the Gold Coast and the city’s property market.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/30/PRINT_HAWA6156_20.jpg">

Henderson said there were now two more Hedges Avenue properties listed for sale including 111 Hedges Avenue, which has been put on the market by Scott Headland, who is a prominent figure in Queensland’s shopfitting industry.

Henderson said the sprawling, two-storey, six-bedroom home on the beachfront at 111 Hedges Avenue, Mermaid Beach was the stuff of dreams.

Sitting on a 769 square metre property, the two-storey home features 19m frontage to the beach, an 18 metre lap pool, spa, gym, study, home office, kids retreat, a bar and a chef’s kitchen.

“Little Dune”, which sits in the heart of the Gold Coast’s Millionaire’s Row, carries a price tag of $9.95 million.

The home’s master suite, which includes an ensuite, spa and walk-in robe and private balcony, directly faces the ocean, which is only metres away.

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/30/PRINT_HAWA6167_21.jpg">

[smartcode_project:default project_id=6999]
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The Gold Coast's 'Millionaire's Row' Hedges Avenue experiencing a surge in sales 

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The collapse of the Ralan Group earlier this year has triggered the listing of a 11,470 square metre Gold Coast development site.
It was set to have been a twin-tower luxury development.
<a href="https://www.propertyobserver.com.au/https://www.knightfrank.com.au/properties/commercial/for-sale/108-ferny-avenue-surfers-paradise-qld-4217/5107491" target="_blank">Offers close November 28</a>.
The Budds Beach site had been earmarked for the Sapphire twin tower development of 71 and 33 storeys, totalling 1000 apartments plus retail.
The site is bordered by Norfolk, Pine, Oak and Ferny avenues close to Surfers Paradise.
It is being offered as an entire lot or as individual properties through Knight Frank under instructions from Deloitte appointed by the mortgagee.
The administrators have been investigating the legality of Ralan Group's use of released deposits from pre-sale contracts.
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Ralan's Budds Beach Sapphire twin tower development site listed by mortgagee

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Most local Queensland investors are not driven directly by yield on the Gold Coast, according to the latest Herron Todd White (HTW) residential report. 
No doubt their investment decisions will involve an assessment of property price versus income less outgoings but largely indications are that they are more inclined to be driven by decisions of location and amenity, the valuation firm said. Interstate buyers have a quite different approach.
The valuation firm took a look at the rental yields across the country. 
"Local real estate agents report that the magic gross yield rate currently sought by interstate investors is 6%. Generally speaking, agents will not get any marketing traction on properties when this minimum yield cannot be demonstrated," the valuation firm said. 
The report suggests the lower end of the local market (say $170,000 to $350,000 price range) in the suburbs of Labrador, Southport and Biggera Waters is currently quite weak with sales volumes down and values falling 5% to 15%.
Local property managers are reporting higher vacancy rates and in some cases a drop in rent is required to secure new rental agreements.
"We also note that local property managers are reporting that there has been a surge of tenants who are exiting their rental agreements in order to buy their own properties in response to the very low mortgage rates now on offer," the valuation firm added. 
A circa 1990, two-bedroom, one-bathroom conventional strata unit, situated on level two of a three-level, nine-unit walk up complex on a concrete footings and slab, floating concrete slab foundation with brick walls, tile roof and one car garage.
The property at <a href="https://www.realestate.com.au/sold/property-unit-qld-labrador-131600502" target="_blank">5/145 Muir Street, Labrador</a> has fair external condition, fair internal condition and fair presentation. Areas: Living - 89 square metres, Outdoor - 10 square metres and car - 27 square metres.
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The subject property has a north-westerly aspect with no significant views.
Ancillary improvements include concrete driveway, partially enclosed yard, concrete paths and moderate landscaping.
The estimated rent is $290 per week and gross yield 5.97%.
"The family home market (say $550,000 to $950,000 price range) has been the strongest performer, albeit this is a very stable market segment with steady demand and turnover in most locations. This market is not typically driven by yield," the valuation firm continued. 
The report notes an interesting strategy has been for some investors to convert family style homes into student style accommodation.
A typical four-bedroom, two- bathroom dwelling will be modified to become seven or eight bedrooms. The laundry may be converted to a third bathroom and the garage partitioned to form say, two bedrooms. The kitchen and main living area is utilised as common area.
Rentals on these are reported at circa $150 per bedroom. A $625,000 outlay for a property may return as much as $50,000 gross per annum (allowing for vacancy) reflecting a gross yield of 8%.
"We caution that many of these operations may not strictly be council approved and lending policy will value or assess these properties on typical residential use only. The suburbs of Southport and Parkwood are popular for this practice," the valuation firm said. 
A Parkwood dwelling converted from four bedrooms to an eight-bedroom, two-bathroom floor plan is currently rented as student accommodation.
"The higher end or prestige market is not driven by yield rates. Rental rates typically fall considerably at this end of the market," the valuation firm said. 
A two level, circa 2016, modern style, rendered fibrous cement sheeting, four-bedroom, two- bathroom, dwelling, with colorbond roof and two-car garage.
Dwelling is located on an easy sloping, regular shaped, inside lot situated slightly above road level.
Canal views with western frontage to the canal.
Ancillary improvements include: exposed aggregate driveway; partially enclosed yard of rendered brick construction; aluminium pedestrian gate with manual access; concrete and paved paths; established landscaping; concrete in ground pool, featuring frameless glass pool fencing; and pontoon jetty.
The property has good external condition and good internal condition.
With a land area of 570 square metres, the rent is $1,200 per week and gross yield is 3.67%
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North Central Gold Coast local investors driven by location and amenity: HTW residential 

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The Mediterranean-inspired home of the late Con Nikiforides, a Gold Coast developer, is heading to auction.
The home is 58-60 Cabana Boulevard in Benowa Waters.
The developer, known for building Oracle Towers and Niecon Plaza, passed away in 2017.
Nikiforides’s wife, Tina Nikiforides, said he had a clear vision from day one of the design he wanted for the house and that his DNA flowed through the property.
“It was a Con project from the beginning until the very end. The coffee room on the river side of the house is one of my favourite rooms and where I have some of my fondest memories,” Tina Nikiforides said. 
“He set about successfully recreating the British Colonial style of Singapore’s Raffles Hotel in this particular room…He was also a big nature lover. He actually paid for a Poinciana Tree to be excavated from our old house with cranes and a semi-trailer to export the tree to the new house.” 
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Ray White Broadbeach Sales Agents Sam Guo and Julia Kuo echoed the family sentiment of Nikiforides, describing the home as a “lived in and much-loved family home”. 
“This home is masterfully built using solid concrete construction and boasts flawless finishes throughout, including vast expanses of travertine marble, and is anchored on a rare 2,003 square metre double block and offers an enviable 40-metre main river frontage,” Guo said. 
Features include an executive home office, an upper level billiards room with kitchenette facilities, a fourth bathroom, under house storage and a double garage with stately porte-cochere. 
It is situated in a quiet street, roughly 6 kilometres from The Southport School and the heart of Surfers Paradise, as well as 8.5 kilometres from St Hilda's and vibrant Broadbeach, plus within easy reach of local shops, cafes, hospitals and amenities.  
The auction will take place on site on November 2.
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Home of late Gold Coast developer Con Nikiforides listed for November auction

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The first 11 Islanders of second series of Love Island Australia have been revealed including Eoghan Murphy, 24, a real estate agent from Gold Coast.
The Irish-born real estate agent has been working at <a href="https://www.instagram.com/eoghannmurphy/" target="_blank">Kollosche Broadbeac</a>h since January. He was previously at Queensland Sotheby's for over a year where he was named Rookie of the Year at the REIQ Awards in 2017.
He began his real estate career as a sales professional at M-Motion Australia.
Murphy joined Love Island to find new love, having just come out of a long-term relationship.
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<a href="https://kollosche.com.au/employee/eoghan-murphy/" target="_blank">His most recent sale</a> was a $4.45 million Currumbin home.
"I was in a relationship pretty much my entire life. When it happens you always think the grass is greener," he said.
"I enjoy being in a relationship. I want a companion. All my mates have girlfriends and I’m the one on my own. I want a girl, I want someone I can spend the rest of my life with," Eoghan told the magazines before his entry into the compound.
Eoghan considers himself a "respectful man with a huge heart" and is looking for the girl of his dreams.
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Premiering on Monday, October 7 at 8.45pm on Nine, the cast is just days away from meeting each other for the first time in their own luxury villa.
The singles will play the ultimate game of love and lust in a format that has taken the world by storm.
The initial 11 Islanders are:
Cartier, 19, Lifeguard from Sydney; Jessie, 23, Waitress from Hobart; Vanessa, 24, Businesswoman from Sydney; Cynthia, 23, Model from Brisbane; Cassie, 27, Executive Assistant from Sydney; Eoghan, 24, Real Estate Agent from Gold Coast; Gerard, 23, Personal Trainer from Perth; Matt, 24, Wrestler/model from Melbourne; Adam, 27, Plasterer from Gold Coast; Maurice, 27, Media Executive from Sydney; and Sam, 28, International DJ from Melbourne.
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Gold Coast estate agent Eoghan Murphy on Love Island Australia second series

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Agents report that conditions within the Gold Coast office market have been slowing for a while now, according to the latest report from property valuation firm Herron Todd White.
The report found, that exacerbating this sentiment in 2019 to date was the Royal Commission into misconduct in the banking, superannuation and financial services industry and the federal government election campaign.
However after a marketplace hiatus over this period (February to May) the impact of these events seems to have well and truly passed and business appears to have moved back into normal mode once again.
The HTW valuers said, "continuation of the low interest rate environment, with rates reducing yet again, is certainly a positive for the market place in a general sense."
"To date in 2019, we have seen settlement of several sizeable office building transactions."
In January: 130 Bundall Road, Bundall. 3,682 square metre lettable area on a 2,226 square metre site at $11 million (source: CoreLogic). 70% occupied and reflecting a WALE of 2.16 years (by income). Passing yield circa 5.43%. Analysed yield 7.34% (with 7.5% PVA). $2,988 per square metre on floor area. Owner-occupier buyer.
In March: Lakeside 1, Bermuda Point, Lot 1101/1 Lake Orr Drive, Varsity Lakes. 6,114 square metres lettable area on a 7,916 square metre site at $25.1 million (source: CoreLogic). Reported as circa 96% occupied and returning a net passing income in the order of $2.285 million. Based on these metrics, passing yield would be in the order of 9% with a lettable floor area rate of circa $4,105 per square metre, although we consider the passing rental level full.
 In May: 169 Varsity Parade, Varsity Lakes. 3,364 square metres lettable area on a 13,000 square metre site at $14 million (source: CoreLogic). Fully leased and reflecting an estimated WALE of 1.38 years (by income). Passing yield circa 8.73%. Analysed yield 6.85% (with 5% PVA). $4,172 per square metre on floor area. Considered a future residential redevelopment site.
In August: Confidential. Circa 2,500 square metres lettable area U/C exceeding $8 million. 95% occupied and reflecting a WALE of 1.5 years (by income). Will reflect a passing yield of circa 7.6%.
HTW valuers said, "several other larger office buildings have also been put to the market place. All have drawn interest from prospective buyers."
"Based on bone fide offers received, interest in the Gold Coast office sector would appear to be holding firm, although our observation is that yields may be softening slightly, to analysed yields ranging from 7.25% to 8%."
"Supply of larger office floor space (1,000 square metres plus) has been hampered on the Gold Coast for some time now due in the main to no new office buildings being developed."
"The lack of new buildings has attracted entrepreneurial investors to older buildings in the Gold Coast’s older established office precincts such as Southport, Bundall and Surfers Paradise," stated the valuers.
The Property Council of Australia July 2019 Office Market Report indicates a total vacancy factor for the Gold Coast of 12.9%.
This is up from 11.6% in their January 2019 report. Leasing agents had noted a tougher first half for 2019, but expect the second half to be better.
The report authors said, "the negative net absorption of -6,850 square metres is attributed to businesses consolidating into smaller premises, etc.
"Overall, we consider the increased level in the Gold Coast vacancy factor may dampen some investors’ views of the Gold Coast office sector, with the result being solidification of slightly higher yields, but on the positive side of the ledger, rental rates appear to be achieving moderate gains."
"So all in all, the bottom line is likely to be retention of asset value levels over the remainder of 2019," they concluded.
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