Gold Coast PROPERTY

SIZE does not matter for Elizabeth Schwartz — it is all about position when it comes to living on the Coast and there is an increasing number of people who feel the same.

The 22-year-old’s one-bedroom Broadbeach apartment is just a short walk and a lift ride from everything she needs — the beach, restaurants, shops and nightclubs.

“We spend more time outside — we eat here, drink here and play here. It has everything we need,” she said.

Gold Coast City Council planning chairman Ted Shepherd said Ms Schwartz was one of a growing number of people who were happy to be squeezed on space as long as their apartment was centrally located — and developers were more than happy to comply.

Cr Shepherd said there had been an increasing number of one-bedroom apartment developments proposed in the past year, which was a shift from the years before.

“Before that, the unit developments were getting bigger and bigger — in some cases we were getting developments that were one unit per floor,” he said.

Phillip Usher Construction recently advertised a proposed change for its high-rise development on Marine Parade in Southport — increasing bedrooms from 356 to 631 as part of a planned shift to smaller apartments.

Cr Shepherd said single-bedroom unit complexes were popular in Southport, Surfers Paradise and Broadbeach.

“It is all about people living that cosmopolitan lifestyle,” he said.

“They want to go out and eat and drink and just come home to sleep.”

Cr Shepherd said the trend had real advantages for buyers and sellers.

“Developers are … having trouble selling some of the larger units in the current economic circumstances and for those people looking to get into the property market, they are able to do so with these single-bedroom units at a lower cost,” he said.

Midwood Report author and property expert Bill Morris said the trend to high-density high-rise developments would only increase.

“High-density (development) is a key part of the Queensland Government’s South-East Queensland Regional Plan,” said Mr Morris.

“I only see density increasing down the track.

“If you already have the services, it makes sense up until a point to keep developing in those areas.”

But Mr Morris said higher density developments did not necessarily mean a lower cost for the buyer.

“These developments are occurring in the inner city and the price of the apartments can still be quite high,” he said.?

TWO major Gold Coast developers are planning luxury towers within 500m of each other opposite the Gold Coast Convention and Exhibition Centre.

Amalgamated Property Group has lodged plans to build a 20-storey tower on the Volare restaurant site, while the Potter Group will lodge its documents in March, outlining its vision for the ageing Main Place shopping complex.

Both sites were amalgamated over the past five years and are valued at more than $4 million.

The projects are located next to the rapid transit route and are expected to attract extra tourists to the Broadbeach precinct.

City planning chief Cr Ted Shepherd said the renaissance of Broadbeach would help drive the city’s construction industry.

He said he would also push for a pedestrian link from Main Place to the convention centre.

“I would like to see an all-weather glass enclosed overpass linking Broadbeach to the convention centre,” said Cr Shepherd.

“Unfortunately, this request has been met with some negativity from TransLink, who say they would like to keep pedestrians at ground level.”

Cr Shepherd said the council would support new high-rise projects along the beachfront, with a focus on sustainable living.

“I’ve seen the plans for the Main Place project and it looks fabulous,” he said.

The Main Place redevelopment, proposed by Gold Coast property identity John Potter, will comprise a new retail-dining precinct fronting the Gold Coast Highway with a high-rise residential tower at the northern end.

The project team will work with TransLink to accommodate a light rail station and car parking.

Meanwhile, the Volare site redevelopment will include 108 apartments.

APG has delivered almost $400 million in high-rise projects on the southern Gold Coast since 2008, including the $85 million Verve, $90 million Element towers and $32 million Ivory Tower.

Sources said the council could consider a deal with the developers that includes financial contributions to support the light rail track, which will run from Griffith University to Pacific Fair.

An APG spokesman said the Volare project could go to market by the end of the year.

MORE than 90 per cent of the latest land released in the newest stage of the South Bay development has already been sold.

The construction of the $100-million village in Varsity Lakes is booming, with all land releases to date sold out and the residential precinct expected to be completed by June.

The proposed South Bay village will have waterfront dining, retail shops, cafes, convenience stores and waterfront apartments.

The project has generated 450 jobs and once South Bay is completed there will be 100 jobs available in the village.

Varsity Lakes Senior Project Director, Carl Bruhn, said South Bay was buoyed by a strong demand for village style living.

“South Bay has been masterplanned to catch the demand for low-maintenance living in a village environment, providing attractive living options with easy access to cafes, fresh food shops, boutique stores, lakeside recreation areas and a thriving business centre,” said Mr Bruhn.

Land packages begin at $224,000 and are 217sq m.

Prices of houses in the village start at $686,900 for waterfront property and include stainless steel kitchen appliances, stone benchtops, ceramic tiles and security systems.

Delfin Land Lease are the developers behind the village and a spokeswoman for the company said the completion date of the project depended on public demand for the shops and residences.

With most of the houses and apartments sold, there are plans being made to add services to the village with talks of a childcare centre, links to Varsity Central and Market Square via a pedestrian bridge and a proposed South Bay Sports House for the village.