Units ‘to flatten island values’
Residents of a luxury Gold Coast island estate claim their property values will drop by at least a third if council approves the area’s first unit development.
The Bulletin has obtained questions sent to council from Sovereign Islands property owners protesting against a planned four-storey commercial centre at the entrance to the estate renowned for its multimillion-dollar mansions.
Councillors at a planning committee meeting on Monday backed an officer’s report recommending approval of the two unit buildings, which feature rooftop pools.
More than 200 residents in
submissions opposed the development. Some are now warning they will take legal action against council.
City planning committee chair Mark Hammel and new area councillor Shelley Curtis, as part of consultation, attended a community meeting where they answered more than 30 questions.
Residents responding to a survey asked: “It is estimated property values will drop as much as 30 per cent if the apartment development proceeds as people go to the island for prestige housing not to drive through a carpark past an apartment building. Who will compensate residents for this loss of value?”
The City in a response said: “Property values are not a consideration of the city plan and form no part of any development or it’s assessment by officers or councillors.”
Councillor William OwenJones, at the committee meeting, questioned how the decrease could be determined in home values, saying the change would be “impressive”.
New area councillor Ms Curtis only gained the support of Peter Young when she pushed for a refusal of the application. Both councillors voted against the application. All councillors will vote at a full council meeting on Thursday. Ms Curtis said she was concerned about the “scale and size” of the plans and pedestrians crossing through the entry area to the commercial precinct.
Residents said the allowable building height was two storeys and the proposed four-storey project would create a large apartment development similar to nearby Ephraim Island.
The City in its response said:
“The existing houses on the islands that are of similar height were assessed using the same process. This has resulted in many of the houses on the island being taller than the acceptable outcome.”
Officers had negotiated with the developer, and agreement was reached to reduce some of the buildings from five to four storeys. Plans for a wine bar were abandoned.
Mr Hammel at the committee meeting said the proposal was changed after officers talked to the applicant.
He said council was supportive of slightly higher buildings in neighbourhood centres.
“I believe it addresses that without going too far,” he said.
The council confirmed the new apartments would be multimillion-dollar units. A resident in an email to Ms Curtis said she understood issues like property values were outside the role of the council, but the City could act on transport and safety concerns.
“The potential negative impacts, both during construction and after completion, raise valid concerns about access, safety and the overall lifestyle of our community,” the resident said.
“Increased density, as proposed in the development, can lead to issues like traffic congestion, strained infrastructure and decreased overall quality of life.
“We believe there are alternative solutions that should be explored to address housing demand.”