Pun­dits pre­dict that Gold Coast projects will see a boost from the Com­mon­wealth Games, Hele

The Courier-Mail - Home - - FRONT PAGE - writes Michelle

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).

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