COOMERA LAND ESTATES
Pundits predict that Gold Coast projects will see a boost from the Commonwealth Games, Hele
DEVELOPERS are poised to take advantage of renewed interest in Gold Coast property in the lead-up to the 2018 Commonwealth Games.
Research released by PRD-nationwide earlier this year revealed that Sydney and Melbourne suburbs both benefited following the Commonwealth Games and Olympic Games in those cities.
In Melbourne in 2006 the Commonwealth Games Athletes Village was built in Parkville and converted into a residential pocket afterwards.
Transactions rose by more than 33 per cent in Parkville and the surrounding suburbs between 2006 and 2007.
In 2000, Sydney hosted the Olympic Games. After the event the athletes accommodation was reconfigured to residential accommodation, which led to a surge in transaction activity in the area, with Newington and surrounding suburbs sales numbers rising nearly 58 per cent from 2000 to 2001.
QM Properties is well positioned to take advantage of a potential surge in interest in the Coomera area where a $52 million-dollar indoor arena will be built for the netball and gymnastics events during the Gold Coast Commonwealth Games.
Sales manager Damien Ross said they had identified Coomera as a potential growth corridor before the Gold Coast won the Commonwealth Games bid, so the announcement was just an added bonus.
“It was either good luck or good management that drove us to invest in this area,’’ he said.
He said they had identified that there was very little land on offer on the northern end of the Gold Coast and that Coomera was about the only opportunity for land estates. “We could see that large growth corridor was going to benefit a lot from infrastructure going in there.’’
He said there was a lot of economic activity going on in that area and buyers so far were not only from the Gold Coast, but Brisbane and Logan as well.
The group has a number of projects in the northern Gold Coast corridor including Coomera Retreat, Coomera
We could see that large growth corridor was going to benefit a lot from infrastructure going in there DAMIEN ROSS QM PROPERTIES SALES MANAGER
Waters, Coomera Quays, Pacific Cove and Tuxedo Junction.
At Coomera Retreat they are finishing off the sale of the whole estate of 450 lots and work has just started on the “jewel in the crown” 26-home display village.
Mr Ross said the village, which is scheduled to open about March or April next year will draw people from a wide area.
Coral Homes regional sales manager Patrick Schmorl said they had great confidence in the Gold Coast, especially the northern corridor.
“We currently have displays at Ormeau, Coomera Retreat and will be going into Pimpama with Pacific Cove,’’ he said.
“The property market has recovered at the Gold Coast with steady upward inclines.
“We believe that the potential is huge on both sides of the highway, exposing the villages to the commuters from both the Gold Coast and Brisbane.”
AV Jennings recently released its “smaller, lowmaintenance’’ housing product in its Big Sky residential community at Coomera.
The two new homesite precincts, the Taurus and Capella releases, are made up of 45 blocks ranging between 340sq m and 928sq m, across a 3.6ha site. A number of smaller blocks have 10m frontages designed for affordable, lowmaintenance homes.
AVJennings Queensland general manager Rod Chadwick said the smaller blocks had been released to meet demand from young professionals looking to get into the property market.
Prices start from $204,900 in the new land release.
Meanwhile work is about to start on the centrepiece park at Villa World’s Parkside community at Coomera.
The 1.67ha park is scheduled for an official opening in November. It will have a 8900sq m turfed play area, playgrounds, two shelters, picnic tables, seating and a shared bicycle and walking path.
It will be surrounded by 5500sq m of natural vegetation.
Villa World development manager Peter Johnson said the construction of the park meant they could push ahead with another release at Parkside – park-front homes. “This milestone means we can push the button on the release of our prime park-front homes that we had been holding back in anticipation of the park’s construction,” he said.
Stage four of Parkside, a 107home estate has now been released with four-bedroom homes priced from $439,000.
VILLA THRILLER: Villa World’s Parkside display exterior; artist’s impression of the centrepiece park (right); QM Properties’ Coomera Retreat (opposite page).