Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

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Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Joel Robinson

Big Projects secures approval for Glenelg Residences in Mermaid Beach

Sherpa Group is ramping up its investment in the southern Gold Coast by lodging a development application for <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, a new $350 million project in Coolangatta.

The move comes after the group’s $27 million acquisition of the 2,029 sqm site on the corner of Griffith and Warner Street, last year.

They will develop 194 apartments across a 26-storey tower, which will become Sherpa’s largest project to date.

Viveré will be the next chapter in the Flourish story, following closely behind Amargo, Oasis, and the Avenues in Palm Beach, as well as Symphony in Brisbane, all designed to deliver affordable housing in lifestyle-rich locations, giving locals a real chance to secure a residence close to the beachfront.

The HAL Architect-designed project will offer a diverse range of residences, from one-, two, and three- bedroom apartments to the premium Canopy range to luxury penthouses.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c85f5a7e-a22f-4745-8def-400adb3c0b35" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.43%E2%80%AFAM.png?VersionId=OY.chur3BPExn1exQ2q8clHqWnW_CaBi" />

“The Gold Coast is undergoing a period of immense growth, with more people drawn to the incredible 
lifestyle that’s available, leading to strong growth in property prices,” said Christie Leet, founder of Sherpa 
Group.

“Our goal at Sherpa is to ensure locals are not priced out of the market in prime locations, which is why we 
created the Flourish collection.

“Flourish Vivere will form the next chapter in our portfolio, and we are so excited to be lodging the DA, marking our first project in Coolangatta.”

A signature of the Flourish developments is the communal rooftop. Flourish Vivere will showcase a private resident’s lounge, outdoor dining with barbecues and pizza ovens, heated pool, fully-equipped gym, and a wellness centre with sauna and steam room.

<img alt="Vivere" data-entity-type="file" data-entity-uuid="c09372cc-aae6-4458-af2e-f291bd19a5e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-15%20at%209.53.49%E2%80%AFAM.png?VersionId=Sc_RLXl5jiff.tnadogXjQJ_WIpDjf3p" />

The project is strategically located to offer a walkable lifestyle, with the Strand shopping centre, cafes, restaurants, shops and the beach, all just a short stroll away.

“We have meticulously planned Vivere to build on the Flourish legacy, creating a truly special project,”&nbsp;Leet added.

“Wellness, lifestyle and community are at the forefront of every decision we make, and that has not 
changed for Vivere.”

With the DA now lodged with the Gold Coast City Council, Sherpa has moved quickly to secure LPS Group as the builder, offering buyers a level of certainty that is rarely seen in today’s market.

Sherpa has delivered 16 residential projects over the past seven years with a pipeline of $1 billion, with more under construction.

Sherpa takes Flourish brand to Coolangatta, lays plans for Flourish Vivere 

S&amp;S Projects is boosting its investment at Rainbow Bay to more than $1 billion after the prolific Gold Coast developer acquired a new site for $20.25 million and immediately laid plans for a new luxury apartment project in the sought-after precinct.

The site, which is the company’s fifth acquisition at Rainbow Bay in the past four years, will be home to the company’s largest project to date after delivering 3 sold-out projects and construction progresses on Radia worth a combined $215m. 
S&amp;S Projects is currently finalising plans for its latest strategic acquisition, a 1,518 sqm site located 209-213 Boundary Street in Coolangatta, with a development application expected to be lodged within weeks.

The luxury residential development will build on the company’s highly successful projects at Rainbow Bay, comprising Flow, Awaken, Esprit and Radia, with Radia currently under construction by Hutchinson Builders.

“We have been unflinching in our commitment to Rainbow Bay and the transformation we have helped drive in this incredible part of the Gold Coast, which is among the city’s most desirable residential locations,” said S&amp;S Projects founder and director Paul Gedoun.

“Our fifth project will reflect the best of what we have done so far to create a lifestyle precinct that is second to none.”

The latest development, which has yet to be named, is proposed to accommodate 88 luxury apartments in a design that will immerse residents in a unique wellness lifestyle that expands on the legacy of S&amp;S Project’s earlier developments at Rainbow Bay.

The development will feature an expansive rooftop garden and wellness centre with a resort- style pool, among a host of lifestyle amenities planned for residents.

“Rainbow Bay, with its beautiful, protected beach and alongside one of the world’s best surf breaks at Snapper Rocks, is the natural wellness heartland of the Gold Coast,” said Gedoun.

“We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden.”

The latest acquisition comes as S&amp;S Projects is at the completion of Esprit and construction continues on Radia, which are part of their significant portfolio undertaken by the company at Rainbow Bay since 2022.

The $215 million Radia, which comprises 38 apartments, is currently the flagship development by S&amp;S Projects at Rainbow Bay which is expected to be completed in 2027.

Jayde Pezet, of Pezet Matheson, which has managed sales and marketing for S&amp;S Projects across their Gold Coast portfolio, emphasised the developer’s commitment to continuous improvement and excellence.

“S&amp;S Projects continue to elevate the benchmark of luxury with each development," Pezet said.

“We have worked with S&amp;amp;S on their 4 other projects in Rainbow Bay and their approach reflects a team that is constantly learning, refining, and pushing the standard higher.

“Their hyper-local knowledge and deep expertise within the luxury property sector are what truly set them apart, allowing them to deliver projects that feel both globally sophisticated and authentically connected to their coastal environment”

S&amp;S Projects plans to officially launch its latest project at Rainbow Bay in the second half of this year.

“As we embark on our largest project yet, we have pulled out all stops to create another landmark development that truly reflects the relaxed southern Gold Coast lifestyle,” Gedoun added.

S&S buys $20m Rainbow Bay site for fifth beachside apartment project

Japandi, an emerging design trend that combines Scandinavian functionality with Japanese rustic minimalism, remains relatively untested in Australia’s residential development market.

As developers look to differentiate their projects and offer something distinct to buyers, Brisbane-based developer Lantona has embraced the hybrid style for its recently launched Toowong apartment project, <a href="https://www.apartments.com.au/new-apartments/koya-residences-6-josling-street-toowong-qld-4066">Koya Residences</a>, with early response to the design proving positive.

Lantona entrusted Red Door Architecture and interiors practice Luma Design Co with delivering the Japandi brief. The approach blends Japanese minimalism with Scandinavian functionality, emphasising warm, restrained interiors, natural materials and clean lines. Drawing on the Japanese concept of wabi-sabi (beauty in imperfection) and the Scandinavian principle of hygge (comfort and cosiness), it creates serene, uncluttered and sustainable living environments.

These design principles are expressed throughout the Josling Street development, both in its exterior form and across the 40 one-, two- and three-bedroom residences within.

[smartcode_project:default project_id=150787 project_image_fid=366229]

Koya reflects a deliberately scaled approach, with the five-storey form designed to align with the surrounding residential streetscape rather than dominate it.

“Koya is conceived as a building that sits comfortably within its surroundings. Every decision, from material selection to spatial planning, has been guided by long-term liveability and enduring relevance,” the developer said.

[smartcode_project:default project_id=150787 project_image_fid=366243]

Positioned within an established inner-west neighbourhood, the development sits near riverfront parklands and the Bicentennial Bikeway, while remaining within walking distance of Toowong Village and multiple public transport options connecting to the CBD, St Lucia and West End.

Lantona said the location was central to the project’s conception, pointing to Toowong’s balance of green space, transport access and proximity to major education institutions.

“<a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> combines river access, walkability, immediate CBD connection and a strong educational presence. That balance made it the obvious setting for Koya.”

[smartcode_project:default project_id=150787 project_image_fid=366230]

Communal amenity is concentrated on the rooftop, where a shared retreat will include a pool, dining areas and outdoor spaces oriented towards neighbourhood and city views. The design allows for both private use and small gatherings, extending the living environment beyond individual apartments.

Koya enters the market at a time when smaller-scale developments are becoming less common in established suburbs, with many recent projects in the suburb shooting for the sky.

In a nod of confidence,&nbsp;<a href="https://www.apartments.com.au/builders/brisbane-builders">Brisbane Builders</a>&nbsp;has already commenced construction on the building, which is slated for completion in early 2027. Keenan &amp; Byrne is marketing Koya.

[smartcode_project_cta:default project_id=150787]

Japandi-inspired Koya Residences launch in Toowong

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A completed Castle Hill apartment development is returning to market with an uncommon level of financial backing, positioning it as one of the more secure options for buyers in Sydney’s north-west.

Skyview in Castle Hill, originally developed by Top Place and now overseen by capital partner <a href="https://www.apartments.com.au/developers/equitifund-group">Equitifund</a>, is being relaunched following a full remediation process. Central to its repositioning is a substantial financial reserve designed to provide ongoing protection and reduce uncertainty for incoming purchasers.

At the core of this offering is an $11 million bond secured during the project’s remediation phase, negotiated by former NSW Building Commissioner David Chandler. With less than $4 million required to complete the works, approximately $7.2 million remains in reserve, with around 15 years left on the term.

[smartcode_project:default project_id=147685 project_image_fid=359134]

Rather than a typical insurance-backed structure, the remaining funds are held as cash, creating a readily accessible financial buffer should any future building issues arise. The structure is intended to provide buyers with an added layer of certainty, differentiating the development from more conventional apartment offerings.

Equitifund Executive Chairman Greg Huxley said the structure provides a level of security not typically seen in apartment developments.

“The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers,” Huxley said.

“Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind.”

[smartcode_project:default project_id=147685 project_image_fid=359135]

The remediation process has now been completed in full, with no active rectification orders or outstanding directives linked to the project on NSW Government registers. This outcome reflects the broader tightening of building oversight across the state, while also highlighting the project’s transition into a completed, compliant asset.

In a market where many buyers remain cautious about apartment quality, initiatives like this are designed to restore confidence, giving purchasers greater certainty and a stronger sense of security in their investment.

Equitifund has since acquired the remaining apartments and is managing their reintroduction to the market. With the works finalised and a significant financial reserve in place, the project now presents with a markedly different risk profile compared to its initial release.

[smartcode_project:default project_id=147685 project_image_fid=359137]

Beyond the added security, the development is positioned in one of Castle Hill’s more established pockets. The Gay Street address places it within close proximity to Castle Towers, one of the country’s largest retail centres, as well as Castle Hill Metro Station, which now connects directly to the broader Sydney Metro network.

Equitifund National Sales Director Ben Hamblett said buyer demand in the area continues to be driven by access to transport and amenity.

“Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre,” Hamblett said.

“There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living.”

[smartcode_project:default project_id=147685 project_image_fid=359145]

The apartments also enter the market at a relatively accessible price point for the area, with two-bedroom configurations starting from $995,000 and rental demand for similar stock reaching around $900 per week. This combination of pricing, connectivity, and completed status is expected to appeal to both owner-occupiers and investors seeking lower-risk entry into the Hills District apartment market.

For eligible buyers, a limited 3.50 per cent p.a. two-year fixed interest rate is currently available through Equitifund’s lending partners, providing an additional layer of affordability.

EquitiCredit Pty Ltd ACN 676 363 769 holds ACL 559289 and provides credit assistance. Finance is arranged through EquitiCredit and funded by its lending partners. Interest rates are subject to change and eligibility criteria apply. Terms, conditions, fees and charges may apply. This is not financial advice and should not be relied upon as such. Prospective buyers should seek independent financial advice.

[smartcode_project_cta:default project_id=147685]
</section>

Castle Hill apartments offering unmatched buyer protection through dedicated fund

John Kolenda

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The Agency's non-executive director John Kolenda has resigned from his role, effective immediately.
Kolenda joined the board exactly three years ago after growing the retail brokerage giant Finsure Group, which he founded and is the managing director.
He took an initial eight per cent stake in the company, which has been expanded over the past year.
Kolenda played a key role in the acquisition of the east coast real estate firm Top Level Real Estate.
He says his resignation is due to an increased workload in other areas.
"The Agency has grown significantly over a short period and is clearly on track to become one of the largest real estate businesses in Australia", Kolenda said.
"It has attracted some of the best agents and now we also have the key exectuives in place to continue the growth in driving sustained operation aal and financial growth across the business going forward.
"As a committed shareholder I will continue to follow and support this growth."
The announcement to the ASX comes with a couple of new appointments at the firm, who yesterday announced that they are on target for a record breaking quarter.
Andrew Jensen, The Agency's current interim chairman, has been appointed chief operating officer and Arjan van Ameyde, who has over 25 years experience in senior financial roles in listed companies, as the new chief financial officer.
Jensen will too step down from the board, from February 1 when he begins his new role. He has held The Agency's CFO role and has previously been the CFO at Ray White.
In November The Agency posted a record 128 sales valued at $234 million along with a record 197 listings.
Their cost saving program is beginning to see results also. Expenses are down from $10 million to $8.4 million in the year to date to November FY20.<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/2019/12/20/The%20Agency%20Revenue%20Expenses.jpg" alt="">
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The Agency Group’s Managing director Paul Niardone said the monthly results further highlight the continuing success of our model and the quality of agents within the business.
“Our December Quarter results look set to build on the record-breaking results of the September Quarter with the first two months of the current quarter already almost eclipsing last quarter’s GCI," Niardone said.
“Coupled with market improvements in the key markets of Sydney and Melbourne as well as an upturn in Perth in November for the first time in 18 months, 2020 looks set to be a milestone year for our company.” 
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jrobinson-rf4aSBido9

John Kolenda departs The Agency board

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McGrath Limited today announced its FY19 first half results, with its revenue down 18 percent to $42.5 million.
The ASX listed company noted that trading to the end of January 2019 had been in line with the guidance provided last October.
However, trading over the first two weeks of February 2019 has been below those expectations, with generally lower listing volumes and lower average sale prices than expected.
The company post a statutory net loss after tax (NLAT) of $9.6 million.
McGrath company owned offices
1,367 sales $1.9 billion in 1H F19 
1,712 sales $2.6 billion in 1H FY18 
2,544 sales $3.5 billion in 1H FY17.
McGrath franchise offices
3,495 sales $3.1 billion in 1H FY19.
4,324 sales $3.9 billion in 1H FY18
4,222 sales $3.8 billion in 1H FY17. 
Total McGrath offices combined
4862 sales $5 billion 1H FY19
6036 sales $6.5 billion 1H FY18
6776 sales $7.3 billion 1H FY17
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As at 31 December 2018 the network comprised 27 company owned offices and 68 franchise offices with 552 agents operating within those offices. 
The total number of offices has remained consistent with June 2018 with 2 openings and 2 closures with 1 transfer from franchise services to company owned sales.
Total agents marginally decreased to 552 from June 18 (558) with reductions in the project marketing and franchise businesses offset by gains in the residential company owned sales segment. 
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Click here <a href="https://www.propertyobserver.com.au/images/2019/2/18/McGrath2.jpg" target="_blank">to enlarge</a>.
<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/2019/2/18/McGrath2.jpg" alt="">
"While March is a seasonally higher listings month, the upcoming elections, together with the late timing of Easter and general market uncertainty reduces the current visibility into the third and fourth quarters.
"Should the balance of the second half continue to be impacted, the Company will update the market in accordance with its continuous disclosure obligations," the board advised shareholders adding ongoing difficult trading conditions were expected given external factors such as the NSW and Federal elections, potentially further impacting performance of the property market and McGrath.
The estate agency advised the continuing subdued property market conditions had impacted McGrath’s performance in the first six months of the 2019 financial year, resulting in an underlying EBITDA loss for the first half of $2.5 million.
This result comprises the previously reported first quarter loss of $1.9 million and a reduced second quarter loss of $600,000, although in line with guidance provided to the market last October.
Click here <a href="https://www.propertyobserver.com.au/images/2019/2/18/McGrath3.jpg" target="_blank">to enlarge</a>.
<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/2019/2/18/McGrath3.jpg" alt="">
“Market conditions are expected to remain soft during 2019, however there have been some signs of optimism with buyers, especially owner-occupiers who are increasingly more active as prices return to more affordable levels in many areas," Geoff Lucas, CEO of McGrath, said.
“Economic factors are contributing to a significant reduction in transaction volumes," McGrath reported citing industry-wide settled sales for the real estate sector down nationally by 13.2%, and across the eastern Seaboard with Sydney down 20.3%, Melbourne down 22.3% and Brisbane down 11.3% on the 12 months to January 2019.
"Prices continue to weaken with national dwelling values to January 2019 down 5.6%, with Sydney down 9.7%, Melbourne down 8.3% and Brisbane in line with last year.”
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It noted a deterioration of higher value property prices in the market, and McGrath’s exposure to this segment, had adversely impacted its NSW result where there was a falling market sale share held by McGrath.
Its strongest growth in market. share was in Queensland.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/2/Subscriber%20strip%20ad.jpg" alt=""></a>
In February 2018 McGrath reported revenue for the six months to December 31, 2017 was $51.6 million, which was down 23 percent on the same period a year earlier.
McGrath reported a strong balance sheet at 31 December 2018 with no debt and $36.7 million in net assets with $16.5 million in cash.
The company noted that an additional $38 million in rent roll assets is not reflected on the balance sheet.
Its board remains focused on conserving cash for business reinvestment and will not pay an interim FY19 dividend.
McGrath’s dividend policy will be reinstated as soon as it is deemed prudent.
It reported its 27 company owned offices with 180 agents secured 1,367 property sales with a $1.9 billion value, over the six months to December 31, 2018.
The 68 franchise offices with 372 agents saw 3,495 property sales with a $3.1 billion value over the six months to December 31, 2018.
It compares with <a href="/news/mcgrath-estate-agents-get-850-000-additional-commission-windfall-to-stop-defections">the prior similar period </a>when company owned sales generating $2.6 billion in sales value from 1,712 sales for 1H FY18 and $3.5 billion and 2,544 sales in 1H FY17.
Its franchise services offices exchanged 4,324 sales during 1H FY18 with a sales value of $3.9 billion compared to 4,222 sales with a sales value of $3.8 billion in 1H FY17. 
With no trade this morning, the shares sit at 26 cents, a record low, with the company capitalised at $43 million.
It was in late 2015 when McGrath Holding Co Ltd (MEA ASX) filed a prospectus to sell a 53.7 per cent stake, or 72.1 million shares, for $2.10 each, giving it an envisaged market <a href="/news/real-estate-services-company-mcgrath-float-hits-asx-bourse-at-1-94-and-rising">capitalisation of $281 million</a>.
Some two decades in the making, the real estate services company commenced trading at $1.94, slightly below the public offering price at $2.10.
 
 
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jchancellor-FAypfDUnLy

McGrath Estate Agents reports a weak start to 2019 sales

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While there has been talk around when interest rates will rise again, it appears that, for now at least, low interest rates might just be the new normal for investors.
After the Reserve Bank kept the interest rate on hold on Tuesday, surprising no one, 1300HomeLoan’s managing director John Kolenda has suggested that, despite continual suggestions of where the future rate may be heading, we’re likely to stick with lows for the foreseeable future. This, he noted, would make low rates the “new normal”.
“Prior to the global financial crisis the norm for the RBA's official rate was around the 5% mark,” he said.
“The historical rates over the last 30 years have been much higher than for the previous few years. Consumer confidence is playing a bigger role in determining rate movements.”
Potential increases over the next six to 12 months will still be low compared to historical rates, he noted.
“Based on the sensitivity of consumers to rate rises, we are likely to see medium term rates at historical lows and smaller variances in movement,” he said.
He claimed that anyone trying to predict a rise is “a brave person” until there’s more positive data broadly, rather than just rising house prices that the Reserve Bank has expressed concerns about.
 “In the current economic climate, the RBA has no choice but to keep rates on hold and likely to tread carefully if they raise sometime later this year,” he said, pointing to weak retail results, a slowdown in the resources sector and unemployment growth as counter balances to a strong housing market.
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John Kolenda

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