New gold rush

Queensland developers look to entice buyers from Victoria, writes Nathan Mawby

Cashed-up Melburnians circling Queensland apartments are being compared with the Chinese buyers of past decade.

Their demand is so high developers behind apartment towers in the Sunshine State are opening display suites and running extensive advertising in Victoria’s capital.

Bensons Property Group, behind

Chevron One on the Gold Coast (pictured above), has a display suite in South Yarra.

Bensons managing director Rick Curtis said last August, 60 per cent of inquiries for the project were coming from Melbourne. This was up from a peak of 30 per cent pre-pandemic.

“They are seeking the Gold Coast weather, lifestyle and unique views on offer, not to mention a superior level of design and finish than other projects on the coast,” Mr Curtis said.

The first apartment tower on Chevron Island, the Chevron One is part of a new arts and cultural precinct. The 41-storey fusion of white concrete, glass and timber will be accompanied by almost 2000sq m of resort amenity.

Luxury fit outs include open-plan living spaces with wide floorboards, extensive glazing, balconies offering water views and Miele kitchens designed by chef Shannon Bennett.

Ray White Surfers Paradise chief executive Andrew Bell estimated up to 70 per cent of inquiry for developments in the area was coming from interstate. And 70 per cent of that was coming from Melbourne.

“The question we have from vendors is, ‘how do you tap into interstate buyers?’ There’s almost an assumption that an interstate buyer will buy properties,” Mr Bell said.

“And there are parallels, there’s no question, between interstate and Melbourne buyers, to how the offshore Chinese were.”

Marshall White Projects’ Ross Hams operates the Chevron One display at 96 Toorak Road, South Yarra. Call 0410 160 151 or see chevron1.com.au