<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

Gold Coast

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The $1.3 billion, 88-level Gold Coast tower, Spirit, is surrounded in doubt after arrangements on its local marketing collapsed.
<div class="cq-article-content-paras section">
Real estate agency The Agency is no longer working with Chinese conglomerate Forise Holdings to sell apartments at the Surfers Paradise project, highlighting a growing trend of fraying Chinese-Australian partnerships.
Forise had already launched the project in China but Australia was slow to launch, Fairfax Media noted.
When completed in 2020, Spirit will be the second tallest tower on the Gold Coast.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/29/Spirit2.jpg" alt="">
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<div class="cq-article-content-media section">
<a href="http://www.eastview.com.au/projects/show/?i=66" target="_blank">The tower</a> will eventually yield 479 beachfront apartments.</div>
<div class="cq-article-content-paras section">
Forise bought the 3494sq m Sprit tower site, once home to the Iluka tower, for $65 million in 2015.
After receiving approvals first in 2015 and then in 2016 after a downward adjustment in apartment numbers, the group unveiled the 285-metre tower, exclusive to The Australian Financial Review.
The Agency's Steven Chen said the star attraction at the tower would be the entire floor 1000-square-metre penthouse expected to fetch about $30 million.
The completion of the 479 luxury units is scheduled for 2020.
Designed by architects DBI, it will have three floors of recreational areas as well as an infinity edge swimming pool.
 
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j.ballantyne1990-6AQqhLzZaK

Spirit, Surfers Paradise marketing setback

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Sunland Group has lodged a development application with Gold Coast City Council to redevelop the ageing Greenmount Resort site in Coolangatta. 
Greenmount Resort is a 151-room, three star resort hotel constructed in 1980. 
It is located less than 100 metres from the patrolled Greenmount and Rainbow Bay Beaches and close to Coolangatta’s retail and restaurant precincts. 
The proposed redevelopment features two curvilinear residential apartment buildings ranging from 14 to 17 storeys, with an estimated end value of $370 million. The buildings, which overlook Rainbow Bay, the Tweed River, and Coolangatta Beach, will comprise 247 residential apartments. 
Some of the building height is buried below road level. 
Sahba Abedian, Sunland managing director, said the group’s vision for the site is of a scale and character which complements Coolangatta’s natural beauty.
It would contributed to its continued renaissance, he suggested. 
“This is undoubtedly one of the finest sites on the southern Gold Coast and requires a design response befitting its unique location,” Mr Abedian said. 
“The architectural topography of the buildings is inspired by the undulating nature of Greenmount headland, while allowing views through the property and generous open space fronting Eden Avenue. 
“Façade materials and textures animate the qualities of light reflecting off the water, and balustrade screening prints reference the patterns of the Norfolk pines which are so prominent in this locality. 
“The sculptured form of the building and continuous wrapping balconies will form a composition of light and shade that will change throughout the day. At the ground level, shelters and canopies draw inspiration from sea shells.” 
Abedian said striking landscape design will enhance its tropical feel and weave a lush continuity through the project, with rooftop gardens, terraced planters, water features, and hanging gardens over lower-level structures. 
“A restaurant/café tenancy is also included within the proposal, featuring an expansive outdoor dining terrace on the corner of Hill Street and Eden Avenue, to provide an active meeting place in this popular area of Coolangatta,” he said. 
Greenmount Resort will continue to operate as usual until early 2019. 
Pending statutory approvals, Sunland Group intends to launch the project during the second half of the 2018 calendar year. 
 
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jrobinson-rf4aSBido9

Sunland unveils its Coolangatta plans to replace three star Greenmount Resort

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Billeroy, the Tallebudgera Creek estate, has been bought by Sunland founder Soheil Abedian.
He's paid $2.2 million for the acreage in the Gold Coast hinterland.
Set on 3.6 hectares, the lifestyle property offers 100 metres of creek frontage.
There's a single level home with five bedrooms, three bathrooms and a home office, built around a central alfresco pavilion.
Floor to ceiling windows frame the views of the paddocks and tailored gardens.
Separate self-contained two bedroom accomodation sits in the manicured grounds with a swimming pool.
Harcourts Coastal Broadbeach agent Katrina Walsh secured the sale.
Abedian, an Iranian born architect, founded Sunland Group in 1983.
This article first appeared in The Weekend Australian. 
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firstname1-iYD4UYzvBa

Sunland Group founder buys in Gold Coast hinterland

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A university study suggests the 2018 Gold Coast Commonwealth Games, which are costing around $2 billion to stage, will deliver Queensland a $4 billion economic windfall. 
The question is how much impact the Games will have on Gold Coast real estate markets. We can sure the industry will talk up the benefits and the prodigious Gold Coast publicity machine will be working overtime to lure investors – but I believe the outcomes for real estate will be over-stated.
A Griffith University report says the Games will result in billions of dollars in new public and private infrastructure and 670,000 extra tourists. It will help create 30,000 jobs and stimulate benefits for business years after the Games end. 
The Griffith Institute For Tourism-led report predicts the Games will be “an economic supercharger” for the Gold Coast and Queensland. 
The 68-page report - by five academics specialising in tourism, accounting and finance – says “the state and the country will benefit for years to come”. 
“The Games will bring more international visitors to the state, create business opportunities, and further facilitate multi-faceted cultural exchange,” it says. “The potential impacts ... are multifaceted and include not only economic but social and environmental aspects.” 
A $2 billion boost to the state’s gross domestic product is a key forecast in the report, which also tips $2.6 billion in public and private sector investment. 
The Games are deemed to have been a catalyst for projects such as the $420 million second stage of the Gold Coast light-rail linking to the heavy rail line at Helensvale, as well as upgrades to Pacific Far ($670 million), The Star hotel casino ($345 million), the Gold Coast Airport ($300 million) and various transport infrastructure improvements. 
Then there’s specific Games infrastructure, including the $550 million athletes village, the $110 million Gold Coast Sport and Leisure Centre, the $40 million Gold Coast Aquatic Centre and the $40 million Coomera Indoor Sports Centre.
Around 16,000 full-time equivalent jobs are forecast to be generated before, during and after the Games, plus another 14,000 temporary positions. 
So, while the economic and infrastructure benefits appear clear, less certain are the impacts on the real estate market.
The Commonwealth Games promise to provide a short-term sugar hit for the real estate market – and we’ve seen much of that impact already. 
The benefits for housing demand relate to the jobs created by the event and related construction work. There have been thousands of workers drawn to the Gold Coast for the construction jobs in the lead-up to the event. But most of those jobs disappear once projects are completed prior to the Games.
This explains why the Gold Coast was a leading growth market in 2015 and 2016 – but has started to level out in terms of sales activity in 2017.
The other factor – and this is the big one – is the degree to which developers over-react to the Games impact and over-build.
The Gold Coast is a notorious boom-bust market even in “normal” times. It lurches from peak to trough periodically – and often takes years to recover from a bout of major oversupply.
This helps to explain why the median price for an apartment in Surfers Paradise is lower today than it was a decade ago. It’s similar for other coastal suburbs like Main Beach and Broadbeach.
Over-supply is the biggest killer of property markets across Australia and the Gold Coast is a leading example of this phenomenon.
Developers, partly in response to the Games euphoria, are building more high-rise unit projects, and larger projects, than ever before.
I fear that this will snuff out any chance of the Gold Coast market experiencing a sustainable boom from the Commonwealth Games.
Any investors tempted by the euphoria should steer clear of the high-rise markets and concentrate on the genuine housing markets inland.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
<a href="https://twitter.com/hotspotting" target="_blank">twitter.com/hotspotting</a>
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terryryder-YECXbqmri2

How will the Commonwealth Games impact the Gold Coast real estate markets?

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Gold Cost office tower 50 Cavill Avenue, owned by Sydney-based fund manager GDI Property Group, announced it has leased more than 90% of its office space after a $10 million upgrade. 
GDI purchased the tower in February 2016 with an occupancy rate of 54% and embarked upon an upgrade to unlock the value of the asset.
The refurbishment of the 22-level includes upgrades to common areas, six new destination control lifts, energy efficient air-conditioning and building systems targeting a 5 star NABERS rating, high speed fibre optic internet, end of trip facilities including showers, lockers, bike racks and modern landscaping to compliment the distinctive mirrored façade. 
There is also a café and bar onsite.
50 Cavill Avenue offers water, beach and hinterland views from almost all levels and has attracted leading companies as tenants such as Mantra Group, CBRE, Regus, Maven Dental and Nine Gold Coast News, said GDI managing director Steve Gillard.
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CBRE’s Nick Selbie, who has been heading the leasing campaign, noted that the recent success in improving occupancy is down to GDI’s belief in both the building and the Gold Coast in general. 
“Once the message was delivered to market that long overdue change was taking place in the building we were inundated with enquiry which has flowed to over 20 new leases being entered into and a number under negotiation at present,” Selbie says. 
The top level of the building with panoramic views of the coastal, hinterland and the Nerang River remains to be leased.
“While the refurbishment has been taking place, we have not actively sought a tenant but are now ready to field enquiry from potential tenants,” Selbie added.
Founder, Perry Cross will officially ‘open’ the newly reimaged building at a soirée in the forecourt later this month. 
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Gold Coast office tower 50 Cahill Avenue nearly fully leased after upgrade

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Ten Network newsreader Sandra Sully and her husband, FlexiGroup chief Symon Brewis-Weston, are selling much of their Gold Coast investment portfolio.
They are selling their three investment apartments in Parkdale, a small boutique block of six a street back from the sand at Broadbeach.
The marketing suggests <a href="https://www.raywhite.com/qld/broadbeach/1770240/?lang=en" target="_blank">“buy one or buy them all”</a>.
The Brisbane-born Sully began buying into the block in 2006, paying $361,500 for a second-floor unit.
She followed it up two years later with a ground floor apartment for $410,000 in 2008.
Sully and Brewis-Weston then bought one in both of their names, paying $415,000 for the top floor apartment last year.
The auction is scheduled for December 9 through Ray White agents Gareth Denning and Veronica Princeton-Hall.
The couple retain another Broadbeach apartment in a different block nearby which cost $710,000 in 2011.
This article first appeared in The Daily Telegraph.
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Newsreader Sandra Sully lists Gold Coast investment portfolio

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A display village set to be the Gold Coast's largest will soon be opening its doors.
The $500 million Villawood Properties community at Helensvale, known as The Surrounds, features a total of 31 homes from 10 leading builders.
Aston Milan, GJ Gardners, McCarthy Homes, McDonald Jones, Metricon, Plantation Homes, Porter Davis, Simonds Homes and Stylemaster have all contributed.
The Surrounds set on the former Gold Coast Country Club will cover more than 60 hectares and will have around 620 residences.
The four and five bedroom homes are a mix of single and double-storey layouts.
Many will have state of the art kitchens and bathrooms, his and hers walk in wardrobes, media rooms and open plan living areas opening to alfresco spaces.
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There will be 20 hectares of green space, including a central park, playground and a leisure centre with a gym, pool and cafe.
Villawood Properties executive director Tony Johnson said leading builders had shown enthusiasm to display their new home designs at The Surrounds, not only demonstrating confidence in the community, but also the region’s housing market.
“Builders have been attracted to The Surrounds for many of the same reasons as buyers: it’s a location that is unrivalled given its accessibility and the associated benefits of the surrounding amenities, infrastructure and public transport,” he said.
“Our builders will be showcasing their innovative, contemporary homes, designed for the Queensland lifestyle by maximising indoor and outdoor entertaining spaces.  The designs place a high emphasis on quality living by delivering space for everyone in the family to live and grow. 
To find out more <a href="https://www.thesurrounds.com.au" target="_blank">click here</a>.
 
 
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Gold Coast's largest display village set to open

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An office and warehouse complex suited for a corporate headquarters at Bundall on the Gold Coast is being offered for sale via auction through Ray White Commercial Southport.
The freestanding facility at <a href="https://www.realcommercial.com.au/property-offices-qld-bundall-502435078" target="_blank">17 Strathaird Road, Bundall</a>, is being marketed by Wayne Devenport of Ray White.
The auction will be held on October 26. Park Trent, the property advisory group, have been there with signage rights.
The partially tenanted property is on a land area of 3,492 sqm with total building area of 1,931 sqm.
“The asset comprises a two-level quality office of 756 sqm to the front and an 1,175 sqm warehouse to the rear, with two gymnasium tenants occupying approximately 560 sqm of the warehouse area,” he said.
“The property would be an ideal corporate headquarters or investment in a highly sought-after location."
The offices to the front of the building comprise a reception, meeting room, seven offices, 14 station open plan area and full kitchen, coms room and server room.
The second floor has facilities for an eight station open plan area, multiple offices, meeting room, boardroom and kitchen.
The property is zoned ‘mixed use, fringe business precinct’.
 
 
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Office-warehouse in Gold Coast's Bundall listed for auction

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Swimming legend turned television personality Giaan Rooney has bought an investment property on the Gold Coast.
It's just a few doors down from her Broadbeach Waters family home.
The Seven presenter has paid $750,000 for a three bedroom waterfront and is seeking a $620 a week tenant, which would reflect a 4.3 percent yield. 
Rooney and her husband Sam Levett paid $860,000 for a 1970s single level waterfront down the road when they relocated from Melbourne in 2015.
They have since demolished the residence.
Rooney's greatest achievement in the pool was a gold medal in the 4x100 metre medley relay at 2004 Summer Olympics.
The team broke the world record and it was Australia's first win in the event in Olympic history.
Rooney went in to TV having retired in 2006. She became a holiday season weather presenter on Channel Nine's Today, filling in for Steven Jacobs.
Rooney joined the Seven Network in 2012 as a fill in weather presenter and took the role full time the following year.
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She recently gave birth to her second child.
This article first appeared in The Weekend Australian Mansions Australia.
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Swimming legend Giaan Rooney buys Gold Coast investment

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Commercial property sales volumes in Gold Coast for assets valued from $2 million to $10 million have increased in comparison to five years ago, with private local investors dominating the purchases, followed by owner occupiers, says Colliers International.
Yields have also compressed during the five-year period, and Colliers expects continued strong demand across the commercial property sectors until December 2018.
The real estate firm said it had recorded $225.85 million worth of sales across office, retail and industrial sectors for 2016/17, a 43 per cent increase from 2011/12.
“The total dollar volume of transactions increased across the retail and industrial sectors whilst the office sector was slightly lower than 2011/12, due to lack of stock on hand rather than slowing demand,” said Helen Swanson, research manager at Colliers International.
“There is currently fierce competition from privates, self-managed super funds and syndicates for all forms of commercial assets that are strategically located and offer a positive cash flow.” 
<a href="https://www.propertyobserver.com.au/images/2017/09/19/ColliersGC1.png" target="_blank">Click to enlarge</a>
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Industrial was the best performing sector, with the sales volumes increasing by 50 per cent over the five-year period to $82.79 million, according to Darrell Irwin, director in charge at Colliers International on the Gold Coast. 
“Driving this demand of late has been an upswing in the Gold Coast economy, especially the tourism and construction sectors. Other industries which are active in this market are automotive, health and medical, marine, and small to medium enterprises (SME’s),” said Irwin.
“The Gold Coast has the highest number of SME’s per head of capita Australia-wide. It is easy to see how this flows onto the heightened demand for industrial property from all buyer groups, particularly from owner occupiers who are generally willing to pay a premium.”
The retail sector was the second best performing sector with sales volumes increasing by 41.8 per cent to $75.448 million over the five-year period. Equivalently, retail warehouses also increased in sales from $6.5 million to $36.3 million over the same period, Colliers said in its research report.
“Strong tourism industry coupled with above average population growth rate and well performing residential sector over the last year has helped support the retail investment market on the Gold Coast,” added Irwin.
The limited stock in the office sector over the years meant the sales volumes were slightly down but the level of competition remained fierce, he said.
“Because of the pent-up demand and lack of supply, yields for office assets have compressed significantly since 2011/12 to sit at an average of 7.5 per cent. 
“The interest in office investments on the Gold Coast is likely to continue considering the positive net absorption rates, strengthening of the rental market and a slight easing in incentives,” Irwin said.
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