Posts Tagged ‘property developments’

Property blog - GoldCoast Property Development

Today our blog found a new “property development map” provided by property group Colliers which plots current and  planned property projects in the Gold Coast.

Despite several high-profile casualties in the wake of the global financial crisis, nearly $69 billion worth of major property development projects are under way or planned for the city, new research released by Colliers on Thursday shows.

That’s an increase of $2.3 billion on the total value of development identified in 2007.

Colliers International director in charge Stewart Gilchrist said the findings clearly demonstrate the region has emerged as a mature and resilient residential and business centre, despite one of the toughest financial periods in recent history.

“We’re not here just as a tourism city, we’re here as a city that runs on its own merits, and we’re here for the long term,” he said.

“Of the 379 property projects included in the report, 21 have an end value of more than $1 billion, which is a huge vote of confidence from some of the largest and most respected development companies both here and overseas in the continued growth of the Gold Coast.

“More than $30 billion of property projects are already under construction, leaving a $38.63 billion pipeline of planned developments to roll out in line with improved economic conditions and to meet the city’s considerable population and commercial growth.”

The map includes major developments with an end value of more than $10 million from the Gold Coast’s northern-most suburb of Stapylton, south to Pottsville in far northern NSW.

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THE Premium Income Fund has reaped $38 million from the sale of a partially completed hotel property and apartment complex south of Sydney.

Harbour Street Property Developments, controlled by Queensland developer George Callianiotis and Rockhampton retailer Solly Stanton, have reportedly agreed to purchase the City Beach property, south of Wollongong, which includes 168 hotel rooms, 75 apartments and 10 penthouses.

Other PIF properties include the Koralbyn Resort and Hotel in Queeensland, and a 144-room resort in Creswick near Ballarat in Victoria, according to the AFR.

It also owns a prominent property on Main Beach in the Gold Coast once controlled by developer Jim Raptis.

PIF spokeswoman Jenny Hutson said “there is nothing in the portfolio that we are not happy to sell at the right price.”

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Property developer Sunland Group will roll out one of the biggest residential releases in Australia in more than 18 months, yesterday announcing nine new property projects in Queensland worth a combined $511 million.

The nine projects will be on the Gold Coast and Sunshine Coast and are expected to comprise nearly 950 properties.

In making the announcement, the James Packer-backed property group also heralded a return to the high-rise apartment sector, revealing separate plans were under way for a proposed new residential property tower in Labrador on the Gold Coast.

“This represents the most active program of project releases in Sunland’s history,” Sunland Group managing director Sahba Abedian said. He said the group was back on the hunt for opportunities in its core business — land, residential and high-rise property developments.

After a tough 18 months for the property sector, he said: “There’s no doubt in my mind that the residential market has bottomed out and there has been a renewed level of confidence across the board, particularly in southeast Queensland and in Victoria.”

Four of the nine residential property projects — to be launched from 2010 — will be located on the Gold Coast, with the rest dotted around Sanctuary Cove, Royal Pines and the Sunshine Coast.

Sunland’s total housing inventory today stands at 3950 products in 28 projects in three states, with an end value of $1.3 billion.

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