Gold Coast off the plan apartments

Just two weeks after its official public launch, La Belle&nbsp;Palm Beach, the new luxury apartment development by serial Gold Coast apartment developer Marquee Development Partners, has netted over $100 million in sales.

In a testament to the ongoing strength of the southern Gold Coast market, <a href="https://www.urban.com.au/new-apartments/la-belle-palm-beach-332-the-esplanade-palm-beach">La Belle Palm Beach</a> has become the city’s fastest-selling project of 2024, with sales prices ranging from $2.5 million to $7 million.

Marquee Director Jacques Winterburn said the sales reflected an unyielding demand for the rare, absolute beachfront apartments in <a href="https://www.urban.com.au/developments/palm-beach-qld">Palm Beach</a> from predominantly southern <a href="https://www.urban.com.au/new-apartments/gold-coast-qld">Gold Coast</a> locals.

[smartcode_project:default project_id=102340 project_image_fid=273589]

"It's a remarkable outcome for Marquee, our 11th and most impressive project to date," Winterburn said.

"The response has been overwhelming but expected. To receive over 1000 inquiries before launch underscores the considerable demand for this project and location."

Winterburn said the&nbsp;majority of buyers have emerged from the Palm Beach and southern Gold Coast, with some from <a href="https://www.urban.com.au/new-apartments/brisbane-qld">Brisbane</a>, <a href="https://www.urban.com.au/new-apartments/sydney-nsw">Sydney</a> and <a href="https://www.urban.com.au/new-apartments/melbourne-vic">Melbourne</a>.

Significant interest has also been observed from buyers in <a href="https://www.urban.com.au/new-apartments/burleigh-heads-qld">Burleigh Heads</a>, with many looking to transition from esplanade-front properties to absolute beachfront residences in the serene northern Palm Beach area while still staying connected to Burleigh.

“Buyers have loved the layouts, uniqueness of the absolute beachfront position and the amenities package reflective of the large beachfront site – more than 3,300 sqm with over 40 metres of absolute beachfrontage - which we are spending more than $10 million enhancing with world-class amenities."

[smartcode_project:default project_id=102340 project_image_fid=273595]

&nbsp;

Many purchasers are local business owners downsizing or for use as lock and leave apartments.

“Interestingly, a number of purchasers work within the property and construction sector which shows how unique the project is and exemplifies the quality Marquee delivers,” Winterburn said.

[smartcode_project:default project_id=102340 project_image_fid=273593]

La Belle Palm Beach will rise 14 levels and offer 75 beachfront apartments in three, four, and five-bedroom layouts.

Residences will feature living spaces ranging from 150 sqm to 680 sqm, tailored for the discerning owner-occupier.

Leveraging the expansive site, <a href="https://www.urban.com.au/developers/marquee-development-partners">Marquee</a>&nbsp;has integrated a series of five double-storey beach homes into La Belle Palm Beach, featuring spacious living areas of up to 388 sqm.

&nbsp;

[smartcode_project:default project_id=102340 project_image_fid=273596]

La Belle Palm Beach promises a diverse array of upscale amenities, including a heated outdoor pool and spa, multiple teppanyaki dining bars, and a resident’s lounge equipped with a billiard room, bar, and large screen TV for gatherings.

The development will feature a wellness centre featuring a state-of-the-art gymnasium, yoga and Pilates room, Nordic and Infrared saunas, indoor hydrotherapy hot pool, and two cold plunge immersion baths. Complementing these features is a 5-star hotel-style lobby with Porte cochère drop off, an arrival lounge and fully equipped private offices, catering to work-from-home needs.

Construction of La Belle Palm Beach is anticipated to commence in June 2024.&nbsp;

[smartcode_project_cta:default project_id=102340]

The majority of buyers have emerged from the Palm Beach and southern Gold Coast, with some from Brisbane, Sydney and Melbourne

Urban Editorial

Marquee net $100 million in sales at La Belle Palm Beach apartment development

Aniko Group has sold over 80 per cent of the apartments at their under-construction Chevron Island apartment development, Orama.

Only 21 apartments remain in the 21-level building. Priced from $1.25 million, there are a mix of two-bedroom, two-bathroom plus study configurations, as well as three-bedroom sky homes on the upper levels that are topped off by two luxury penthouses.&nbsp;

[smartcode_project:default project_id=111898 project_image_fid=209596]

Positioned in the thriving <a href="https://www.urban.com.au/developments/chevron-island-qld">Chevron Island</a> precinct, <a href="https://www.urban.com.au/new-apartments/orama-chevron-island-12-16-weemala-street-chevron-island">Orama</a> offers discerning buyers well-priced luxury in a rapidly growing market. Under the leadership of George Mastrocostas, Aniko Group’s robust sales campaign has swiftly moved apartments, leaving scarce inventory remaining as downsizers flood the limited opportunities in the <a href="https://www.urban.com.au/new-apartments/gold-coast-qld">Gold Coast</a> market.&nbsp;

Mastrocostas said the sales success of&nbsp;Orama reaffirms that downsizers are the primary market driving the <a href="https://www.urban.com.au/new-apartments/gold-coast-qld">Gold Coast</a>’s appetite for premium living experiences.

“These remaining apartments represent a rare opportunity for buyers to secure their slice of premium living in this coveted location”.&nbsp;

[smartcode_project:default project_id=111898 project_image_fid=240587]

Orama's rooftop amenity level includes a pool, spa, gym, yoga and Pilates room, residents' lounge with indoor and outdoor dining options, barbecue facilities, and a fully equipped business centre.

Peter Malady, sales and marketing director of Aniko Group, said their&nbsp;strategic pricing and emphasis on luxury amenities have resonated particularly well with local downsizers, who don’t just seek a residence, but a lifestyle tailored to their needs and desires.

"Orama epitomises our dedication to creating spaces where luxury seamlessly intertwines with everyday living, through meticulous attention to detail and a deep understanding of our buyers' preferences”.&nbsp;

[smartcode_project:default project_id=111898 project_image_fid=209597]

Aniko Group’s in-house construction team, having completed their latest Hope Island development, are on track for a late 2025 completion date of Orama.

Aniko is currently awaiting approval for the $2 billion <a href="https://www.urban.com.au/new-apartments/the-landmark-14-seaview-avenue-mermaid-beach">The&nbsp;Landmark at Mermaid Beach</a>, their four-tower masterplan that will bring just shy of 1000 apartments to the tight Gold Coast unit market.

[smartcode_project_cta:default project_id=111898]

Aniko Group’s in-house construction team, having completed their latest Hope Island development, are on track for a late 2025 completion date of Orama

Joel Robinson

Orama on Chevron Island hits 80 per cent sold as construction continues

Sherpa Property Group has completed its luxury&nbsp;Mermaid Beach&nbsp;apartment development, Perspective on Albatross.

<a href="https://www.urban.com.au/buildings/perspective-on-albatross-72-74-albatross-avenue-mermaid-beach-qld-4218">Perspective on Albatross</a>, which comprises eight four-bedroom, three-bathroom apartments, is now ready for occupancy with only one ground-floor residence still available for purchase.

[smartcode_project:default project_id=111484 project_image_fid=213896]

The remaining unit features an expansive outdoor terrace upgraded with a private spa, sauna, wine bar, and two fireplaces. It also includes a double lock-up garage with additional storage space.

Designed by award-winning architects <a href="https://www.urban.com.au/architects/hal-architects">HAL</a> and built by <a href="https://www.urban.com.au/builders/5point-projects">5Point Projects</a>, Perspective on Albatross features sculptural Mediterranean minimalism and a natural colour palette to create a timeless design.

[smartcode_project:default project_id=111484 project_image_fid=230561]

<a href="https://www.urban.com.au/developers/sherpa-property-group">Sherpa Property Group</a>&nbsp;Founder Christie Leet says success in sales for Perspective on Albatross has been driven by demand from a mixture of local owner-occupiers and downsizers.

“Many of these buyers are local downsizers who have been enticed by the unique location, spectacular architecture and beautiful living spaces that take full advantage of an elevated beachside location”, Leet said.

“Notching closer to 100 per cent sold is largely due to the surge of owner-occupiers who are continuing to drive the demand for apartment living on the <a href="https://www.urban.com.au/developments/gold-coast-qld">Gold Coast</a>, during a time when available stock is at an all-time low.”

Perspective on Albatross is situated just 160 metres from the beach, offering a prime location in <a href="https://www.urban.com.au/developments/mermaid-beach-qld">Mermaid Beach</a>.&nbsp;

Sherpa Property Group Founder Christie Leet says success in sales for Perspective on Albatross has been driven by demand from a mixture of local owner-occupiers and downsizers

Sherpa completes Perspective on Albatross, Mermaid Beach apartments

Demolition has started on DD Living's prime North Burleigh site that will pave the way for their luxury $510 million apartment development, Burly Residences.

The two old&nbsp;apartment buildings on the 2024 sqm double site at 264-266 Esplanade will make way the for 25-level glass tower.

<a href="https://www.urban.com.au/new-apartments/burly-residences-264-266-esplanade-north-burleigh">Burly Residences</a>&nbsp;will have 101 apartments starting from $2.2 million for the two-bedroom apartments. The private three-bedroom residences start from $8.8 million, while the single-level, four-bedroom penthouses are priced from $13,608,000.&nbsp;

There are two levels of resort-style amenities including several swimming pools, casual and formal dining, kitchen, bar, private office space, an executive lounge and wellness centre with a gym, steam room, sauna and designated space for yoga, Pilates and Peloton workouts.

[smartcode_project:default project_id=134791 project_image_fid=220106]

DD Living Managing Director David Devine says Burly has been designed in response to the premium beachfront location

“When we secured two neighbouring sites with beach frontage on The Esplanade in North Burleigh, it was apparent to us that Burly required an impeccable landmark design, and we are pleased with the result from <a href="https://www.urban.com.au/architects/koichi-takada-architects">Koichi Takada</a>,"&nbsp;Devine said.

“I am thrilled to see progress on site and eagerly await the milestones as it is transformed into Burly Residences over the coming years. Burly has been designed in response to the premium beachfront location - a coastal glamour that is carried through to the interiors with the very best elements of beach living blended into cosmopolitan sophistication and elegance.”&nbsp;

[smartcode_project:default project_id=134791 project_image_fid=220104]

&nbsp;

The sales of Burly Residences are being managed by <a href="https://www.urban.com.au/project-marketer/total-property-group">TOTAL Property Group</a>, who is fielding enquiry from both Australian and international buyers.

The majority of purchasers have come from Queensland (50%), of which half are Gold Coast locals.

Victorian buyers have purchased 23 per cent of apartments sold at Burly, 13 per cent of buyers are from New South Wales, three per cent are from ACT, and 10 per cent have come from overseas.&nbsp;

[smartcode_project:default project_id=134791 project_image_fid=220248]

“Burly Residences offers a level of amenity and apartment quality that is unmatched on the Gold Coast, and savvy buyers are recognising this as a unique opportunity in the sought-after North Burleigh location,” TOTAL Property Group Managing Director Adrian Parsons said.

“The apartments and their residential amenity are beyond anything else currently available on the market in the quieter beachfront area of North Burleigh and prestige property purchasers are responding.

“The six-star amenities DD Living is planning for this residential building are equivalent to a six-star resort hotel in the world’s most premier locations. The amenities and facilities are worldclass offering unparalleled lifestyle for the sophisticated purchaser."

The apartments, with&nbsp;interiors by&nbsp;<a href="https://www.urban.com.au/interior-designers/mim-design">Mim Design</a>, are expected to complete in 2027.

[smartcode_project_cta:default project_id=134791]

The apartments, with interiors by Mim Design, are expected to complete in 2027

Demolition paves the way for DD Living's Burly Residences in North Burleigh

Following the recent completion of its luxury Palm Beach apartment development Cabana Palm Beach, Josh Foote's Ignite Projects has secured its next development site.

They've paid around $7 million for Laurieton House, a 1960s apartment development at 186 Jefferson Lane, up the road from the Palm Beach Surf Club.

They bought the site through GV Property Group's Antonio Mercuri and Luke Reaby, who also sold the 1,600 sqm block to Sydney-based developer Daascon in 2022.

First look exclusive: <a href="https://www.urban.com.au/news/qld/first-look-exclusive-apartment-project-revealed-on-one-of-palm-beachs-biggest-sites">Apartment project revealed on one of Palm Beach's biggest sites</a>

<a href="https://www.urban.com.au/developers/ignite-projects">Ignite</a> will be looking to revise the 14-level plans Daascon had for the site, instead opting for a code assessable nine-level building which Foote says will be similar to Cabana on&nbsp;Nineteenth Avenue.

“No two projects are the same and we define ourselves by our point of difference, as each project is refreshingly original, but there will be similarities to Cabana,” he says.

“We live, surf and socialise in the area and respect the community so our impact is our legacy.”

Ignite sold out Cabana in 2021, within eight weeks of its launch on Boxing Day 2020.

[smartcode_project:default project_id=84861 project_image_fid=142160]

GV Principal Antonio Mercuri says the sale is&nbsp;a great result for the community.

“These older unit blocks like Laurieton House have well and truly had their day, but it’s great to see a local developer see the potential in the property and look to build a project that neighbours would be much happier with.

“I think that comes from just knowing the area. “It certainly helps when the developer lives locally and is raising their own families here - they genuinely want what’s best for the Coast.”

Daascon’s plans for the 14-floor tower on the site were approved by Council but were the subject of an appeal at the time of their decision to sell the property.

Ignite will be looking to revise the 14-level plans Daascon had for the site, instead opting for a code assessable nine-level building which Foote says will be similar to Cabana on Nineteenth Avenue

First look exclusive: Ignite Projects line up next luxury Palm Beach apartment development

Buyer demand across the country is shifting to units as housing affordability continues to put a strain on budgets.

Research by property data analytics company CoreLogic shows worsening affordability, particularly in capital city markets where house prices have soared.

CoreLogic Economist Kaytlin Ezzy says demand is now tilting towards unit and apartment living due to affordability concerns, particularly in capital cities.

"House values surged nearly 40 per cent since March 2020, while unit values rose 17.9 per cent, indicating the widening gap between house and unit values," Ezzy says.

<img alt="House vs Unit growth" data-entity-type="file" data-entity-uuid="488729a0-d3ea-441b-952b-da4978c13edb" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2405_COTM.PNG?VersionId=J38cRtz3_VtXJL8a4njyWTPBtzxbrtDd" />

&nbsp;

Hobart is the only capital that saw stronger value growth in houses (0.8 per cent) compared to units (0.6 per cent) over the three months to April.

"Given the worsening affordability environment and the growing possibility that interest rates could be higher for longer, it's unsurprising that demand has skewed towards the more affordable unit sector," Ezzy added.

Over the three months to April, lower quartile dwelling values rose three per cent, more than twice the pace of upper quartile values (1.1 per cent), with growth conditions continuing to be skewed toward the more affordable section of the market.&nbsp;

Read more:&nbsp;<a href="https://www.urban.com.au/news/nsw/city-beat-may-2024-sydney-unit-growth-doubles-houses-in-april">City Beat May 2024: Sydney unit growth doubles houses in April</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-may-2024-gold-coast-unit-market-continues-to-surge">City Beat May 2024: Gold Coast unit market continues to surge</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-may-2024-brisbane-unit-growth-doubles-houses-in-april">City Beat May 2024: Brisbane unit growth doubles houses in April</a>

The prolonged high-interest rate environment has seen buyer demand continue to skew towards more affordable housing alternatives, with most capitals now recording stronger growth in the more affordable unit sector

Apartment and townhouse value growth surges ahead of houses amid tightening affordability: CoreLogic

The owners of Labrador's&nbsp;Golden Shores Holiday Club have secured development approval to redevelop their Marine Parade resort.

They'll be creating a 25-level tower at&nbsp;<a href="https://www.urban.com.au/new-apartments/210-marine-parade-labrador">210 Marine Parade</a>&nbsp;that will home 85 apartments.

<img alt="First look: Golden Shores Holiday Club to become new apartment tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202023-05-24%20at%208.57.10%20am.png?VersionId=NCdG1Wj0.OsZFiVweU4mPbsv1srIGhXT" />

The development will comprise 49 two-bedroom units, 14 of which will feature a multi-purpose room, and 35 three-bedroom apartments, offering frontage to the Broadwater and adjacent public open space.

A full-floor penthouse spanning 458 sqm with five bedrooms, each with an ensuite and walk-in wardrobe, is also part of the development plan.

<img alt="First look: Golden Shores Holiday Club to become new apartment tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-24%20at%208.57.21%20am.png?VersionId=wZ255HCrEno_MVJwHFHQV59BuFLjC2S_" />

The approval aligns with the broader regional plan for the Gold Coast, which targets an annual supply of 4,010 new high-rise units aiming to address the ongoing demand-supply imbalance.

Designed by <a href="https://www.urban.com.au/architects/bda-architecture">BDA Architecture</a>, all apartments will have glimpses towards <a href="https://www.urban.com.au/developments/broadwater-qld">Broadwater</a> because of the tower's slender form. The building fans out towards the rear, which allows even the apartments at the back of the building to take in water views.&nbsp;

<img alt="First look: Golden Shores Holiday Club to become new apartment tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-05-24%20at%208.57.39%20am.png?VersionId=omXg3cnQ8YSGmeJDZO1uNzEXFpArCU7b" />

On the roof will be a swimming pool and lounge areas with kitchenettes, while the 24th level will home a gym.

While primarily geared towards permanent residential occupancy, the development includes provisions for short-term accommodation so future apartment owners can rent their apartments as a holiday let.

While primarily geared towards permanent residential occupancy, the development includes provisions for short-term accommodation so future apartment owners can rent their apartments as a holiday let

Golden Shores Holiday Club in Labrador to be redeveloped into apartments

Not enough housing to meet demand.

That's the state of the market in the Gold Coast, where the lack of activity in the new development space is a growing concern for the coastal hotspot that is still seeing surging population growth following a boom during the COVID-19 pandemic.

Real Estate Institute of Australia spokesperson, Andrew Bell, said the unprecedented demand for properties on the Gold Coast is unlikely to ease.

“It is simply an equation of supply and demand,” Bell said.

“What has happened, particularly post-COVID, has been a significant transfer of wealth from other parts of Australia including <a href="https://www.urban.com.au/developments/melbourne-vic?sort=">Melbourne</a> and <a href="https://www.urban.com.au/developments/sydney-nsw?sort=">Sydney</a>.

“During the pandemic, there was an increase in divorces, downsizing and simply relocation. We are also seeing a lot of high-wealth people, with the capacity to pay higher prices, moving to Queensland. In <a href="https://www.urban.com.au/developments/surfers-paradise-qld?sort=">Surfers Paradise</a> and <a href="https://www.urban.com.au/developments/broadbeach-qld?sort=">Broadbeach</a>, 24 per cent of sales have been cash purchases.”

Bell said while this was a major positive for the state, and a “coming of age” for Queensland, this northward migration had resulted in a decline in affordability for many buyers and renters.

“We don’t have enough properties to meet the huge influx of residents, especially workers who will contribute to strong economic growth.”

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-may-2024-gold-coast-unit-market-continues-to-surge">City Beat May 2024: Gold Coast unit market continues to surge</a>

There was only one new apartment development launched to the market in April on the Gold Coast, <a href="https://www.urban.com.au/new-apartments/la-belle-332-the-esplanade-palm-beach">La Belle Palm Beach</a> by Marquee.

Despite the lack of new supply in the market, there were several development applications submitted to the <a href="https://www.urban.com.au/gold-coast-qld">Gold Coast</a> City Council in April.&nbsp;

Of course, these projects won't be realised for several years, with the approval phase, marketing, and then the build generally making the lifespan of a new development between three to five years, depending on density and the speediness of the approval process.

We've wrapped up the top three apartment developments that went through council in April.

<h2>Address: 14 Chelsea Avenue, Broadbeach</h2>

<h3>Developer: Morris Property Group</h3>

Veteran Gold Coast developer,&nbsp;<a href="https://www.urban.com.au/developers/morris-property-group">Morris Property Group</a>, is planning their 10th residential development in Broadbeach, the majority of which have been delivered in the last few years.

<img alt="Exclusive first look: Morris Property Group plot another Broadbeach tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-04-16%20at%2012.19.37%20pm.png?VersionId=Uq9PTtSp1oEQp41rCDLZXE0_CyXITfY2" />

Morris has submitted plans for a high-end tower focused on the more affluent owner-occupier on a 607 sqm site next to their <a href="https://www.urban.com.au/buildings/opus-16-18-chelsea-avenue-broadbeach">Opus Broadbeach</a> tower which they completed in 2021.

They've had <a href="https://www.urban.com.au/architects/cottee-parker-architects">Cottee Parker</a> design a 25-level building with 22 full-floor apartments and a sole two-bed unit. They will sit above three basement levels which will have 45 parking spaces.

Read more: <a href="https://www.urban.com.au/news/qld/exclusive-first-look-morris-property-group-plot-another-broadbeach-tower">Exclusive first look: Morris Property Group plot another Broadbeach tower</a>

<h2>Address: 137 Old Burleigh Road, Broadbeach</h2>

<h3>Developer: DVB Projects</h3>

DVB Projects, the developer behind Broadbeach's Sea Glass development that is currently in market, is doubling down in the burgeoning suburb.

<a href="https://www.urban.com.au/developers/dvb-projects">DVB</a>, led by Dean Brown, has filed plans for a similar tower at&nbsp;<a href="https://www.urban.com.au/new-apartments/137-old-burleigh-road-broadbeach">137 Old Burleigh Road</a>, a 1,156 sqm site near the Old Burleigh Road and Queensland Avenue roundabout that is currently home to the 12-unit, 1980s block Gala.

<img alt="First look exclusive: DVB Projects doubles down in Broadbeach" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-05-01%20at%208.48.56%20pm.png?VersionId=nidO61LOnRCtr5DX95__x0hSybjrub4J" />

They've called on&nbsp;<a href="https://www.urban.com.au/architects/rothelowman" target="">Rothelowman</a>&nbsp;again to handle the design of the 105-metre, 32-level building that will have 39 half-floor and full-floor apartments and a two-level penthouse.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/first-look-exclusive-dvb-projects-doubles-down-in-broadbeach">First look exclusive: DVB Projects doubles down in Broadbeach</a>

<h2>Address: 118 Old Burleigh Road, Broadbeach</h2>

<h3>Developer: Little Projects &amp; R.Corp</h3>

Two&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic" target="">Melbourne</a>&nbsp;developers are pushing on with their prime apartment development site on one of Broadbeach's best streets.

<a href="https://www.urban.com.au/developers/little-projects-co">Little Projects</a>, in a joint venture with fellow&nbsp;Melbourne-based developer R.Corp, has gone back to the drawing board for their luxury apartment tower&nbsp;at 118 Old Burleigh Road, on the corner of Australia Avenue.

Since being knocked back by the Gold Coast City Council for their&nbsp;<a href="https://www.urban.com.au/news/qld/first-look-exclusive-little-projects-set-for-third-broadbeach-apartment-development-with-rcorp-joint-venture">initial 30-level plans by DKO</a>&nbsp;in early 2023 which would have seen 33 apartments delivered, Little Projects and R.Corp have been working with council and have now officially submitted new plans by&nbsp;<a href="https://www.urban.com.au/architects/plus-architecture" target="">Plus Architecture</a>.

<figure><img alt="First look: Little Projects redesign Old Burleigh Road, Broadbeach apartment tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-05-01%20at%2012.32.04%20pm.png?VersionId=ItXi3S7WYGZhd3YQUCUP6ZGzkz7Mf84U" /></figure>

They will be still targeting the high-end buyer in the building that was initially dubbed&nbsp;<a href="https://www.urban.com.au/new-apartments/one-australia-118-old-burleigh-road-broadbeach">One Australia</a>.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/first-look-little-projects-redesign-old-burleigh-road-broadbeach-apartment-tower">First look: Little Projects redesign Old Burleigh Road, Broadbeach apartment tower</a>

<h2>Address: 402-404 The Esplanade, Palm Beach</h2>

<h3>Developer: Chanine Developments</h3>

The latest play on luxury apartment developments on the Palm Beach beachfront is by Sydney-based developer <a href="https://www.urban.com.au/developers/chanine-developments">Chanine Developments</a> who secured a large site through site amalgamation specialists <a href="https://www.urban.com.au/project-marketer/gv-property-group">GV Property Group</a>.

<img alt="Sydney developer eyes Palm Beach luxury apartments" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-04-22%20at%204.39.07%20pm.png?VersionId=VBLJlBRgbOmL4loVoGpTKlJxfE7LNxNd" />

Chanine, led by Marwan Chanine, has now lodged plans for a boutique eight-level building with 15 half-floor apartments and a massive five-bedroom penthouse.

There will be 16 apartments in the building which has been designed by CDArchitects. The 15 three-bedroom apartments will sit beneath a massive 354 sqm, five-bedroom penthouse with its own rooftop pool, barbecue kitchen and alfresco space.

Read more: <a href="https://www.urban.com.au/news/qld/sydney-developer-eyes-palm-beach-luxury-apartments">Sydney developer eyes Palm Beach luxury apartments</a>

<h2>Address: 50 Sunset Boulevarde, Surfers Paradise</h2>

<h3>Developer: Macquarie York</h3>

It's taken less than five months for Roy Skaf's <a href="https://www.urban.com.au/developers/macquarie-york">Macquarie York</a> to secure approval for its upcoming absolute waterfront Surfers Paradise project.

Macquarie York will develop a 17-level tower at 50 Sunset Boulevarde, a 1,057 sqm riverfront block on the Nerang River facing Chevron Island's Home of The Arts building.

<img alt="Macquarie York secure approval for new Surfers Paradise apartments" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/50%20Sunset%20Bvd%20Surfers%20Paradise.jpg?VersionId=AtiCmJhE3qMpYlsaNO7Zgpi4uhAhzJHJ" />

<a href="https://www.urban.com.au/architects/plus-architecture">Plus Architecture</a>, led locally by Danny Juric, says the project has been "meticulously designed to seamlessly blend with its urban and natural surroundings, achieving a harmonious balance between the human-scale streetscape, riverscape, and the emerging skyline."

Among the amenities planned for residents is a dedicated recreation level on the second floor boasting a swimming pool, lounge area, BBQ space, gym, sauna, steam room, and work-from-home office space complete with desks and a boardroom.&nbsp;

Read more: <a href="https://www.urban.com.au/news/qld/macquarie-york-secure-approval-for-new-surfers-paradise-apartments">Macquarie York secure approval for new Surfers Paradise apartments</a>

Despite the lack of new supply in the market, there were several development applications submitted to the Gold Coast City Council in April.

Every new apartment development planned across Gold Coast in April

It's continued month-on-month gains in the Gold Coast unit market.

CoreLogic's Home Value Index showed another solid gain of one per cent over April, following growth of 1.1 per cent in both March and February.

The median value for a Gold Coast unit, which incorporates both townhouses and apartments, is now at $768,000, having started the year at $727,000. The median far outstrips the median unit value in Brisbane ($600,000) and Melbourne ($613,00).

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-march-2024-what-is-happening-in-the-gold-coast-off-the-plan-apartment-market">City Beat March 2024: What is happening in the Gold Coast off the plan apartment market?</a>

<h2>What happened in the Gold Coast off the plan market in April?</h2>

There was little activity on the Gold Coast in the way of new projects launching to the market in April, however many more are coming in the pipeline.

The only project to launch was Marquee's latest Gold Coast development, La Belle at Palm Beach.

<a href="https://www.urban.com.au/new-apartments/la-belle-332-the-esplanade-palm-beach">La Belle Palm Beach</a>&nbsp;will comprise 74 premium beachfront apartments over 14 levels that will take advantage of sweeping views from&nbsp;<a href="https://www.urban.com.au/developments/surfers-paradise-qld?sort=">Surfers Paradise</a>&nbsp;to&nbsp;<a href="https://www.urban.com.au/developments/coolangatta-qld?sort=">Coolangatta</a>.

[smartcode_project:default project_id=102340 project_image_fid=273590]

The development, with 40 metres of beach frontage, has three, four and five-bedroom apartments on offer, with internal living spaces between 150 sqm and 680 sqm, catering for the owner-occupier.

Designed by award-winning&nbsp;<a href="https://www.urban.com.au/architects/cottee-parker-architects" target="">Cottee Parker</a>&nbsp;Architects and detailed by <a href="https://www.urban.com.au/architects/bda-architecture">BDA Architecture</a>, La Belle&nbsp;is set to offer a diverse range of amenities including a heated outdoor pool and spa, multiple teppanyaki dining bars and entertaining areas, and a resident’s lounge with a billiard room, bar, and a large screen TV.

There will also be a wellness centre with a state-of-the-art gymnasium, yoga and Pilates movement room, Nordic and Infrared saunas, indoor hydrotherapy hot pool and two cold plunge immersion baths.

[smartcode_project:default project_id=102340 project_image_fid=273596]

Given how tight the market is for new projects, developers who can get their projects in market, with confidence that they're going to go ahead, are seeing strong results.

John Kearney's&nbsp;<a href="https://www.urban.com.au/developers/immerse-projects" target="">Immerse Projects</a>&nbsp;has seen a surge in sales at their <a href="https://www.urban.com.au/new-apartments/ombre-robina-46-scottsdale-drive-robina">Ombré</a> apartment development in <a href="https://www.urban.com.au/developments/robina-qld">Robina</a>, hitting the $40 million mark within just four weeks of launching.&nbsp;

[smartcode_project:default project_id=143341 project_image_fid=251416]

<a href="https://www.urban.com.au/new-apartments/ombre-robina-46-scottsdale-drive-robina">Ombré</a>, comprising 95 apartments designed by BDA Architecture, offers a diverse range of floor plans. Some of the one-bedroom apartments have two living areas, as do some of the two-bedrooms. They've been popular given there's nothing like that on the market in the whole of the&nbsp;<a href="https://www.urban.com.au/developments/gold-coast-qld?sort=">Gold Coast</a>.

Kearney's construction company&nbsp;<a href="https://www.urban.com.au/builders/greyburn">Greyburn</a>&nbsp;will build Ombré, which is slated for completion in December 2025.

[smartcode_project:default project_id=112024 project_image_fid=241133]

Veteran Gold Coast developer, Morris Property, is also seeing success at their Broadbeach apartment development, Crest.

<a href="https://www.urban.com.au/new-apartments/crest-broadbeach-13-armrick-avenue-broadbeach">Crest&nbsp;Broadbeach</a>, which marks Morris Property Group's eighth high-rise residential project in&nbsp;<a href="https://www.urban.com.au/developments/broadbeach-qld">Broadbeach</a>, recently hit the 50 per cent sold milestone. The first tower in the project tapped into the demand for new apartments in the sought-after Broadbeach postcode.

In the fourth quarter of 2023, Crest saw a total of 25 sales, with an average sale price of $1,089,000 per apartment.

[smartcode_project:default project_id=112024 project_image_fid=241132]

&nbsp;

Morris has padded out its future pipeline in their favourite suburb, submitting plans for their 10th residential development&nbsp;<a href="https://www.urban.com.au/developments/broadbeach-qld">in the suburb</a>&nbsp;neighbouring Surfers Paradise.

Morris has submitted plans for a high-end tower focused on the more affluent owner-occupier at 14 Chelsea Avenue, Broadbeach, a 607 sqm site next to their&nbsp;<a href="https://www.urban.com.au/buildings/opus-16-18-chelsea-avenue-broadbeach">Opus</a>&nbsp;Broadbeach tower which they completed in 2021.

<img alt="Exclusive first look: Morris Property Group plot another Broadbeach tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-04-16%20at%2012.19.37%20pm.png?VersionId=Uq9PTtSp1oEQp41rCDLZXE0_CyXITfY2" /> 
The plans for 14 Chelsea Avenue. Image credit: Cottee Parker

They've had&nbsp;<a href="https://www.urban.com.au/architects/cottee-parker-architects">Cottee Parker</a>&nbsp;design a 25-level building with 22 full-floor apartments and a sole two-bed unit. They will sit above three basement levels which will have 45 parking spaces.

"Buyers love Broadbeach because it offers beachside living with metropolitan amenities, which is what the market is after," Morris told Urban back in 2022.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/exclusive-first-look-morris-property-group-plot-another-broadbeach-tower">Exclusive first look: Morris Property Group plot another Broadbeach tower</a>

Getting closer to the launch of their next project is&nbsp;Aniko Group who on their flagship $2 billion mixed-use development, The Landmark in Mermaid Beach.&nbsp;

They <a href="https://www.urban.com.au/news/qld/aniko-settle-on-32-5-million-mermaid-beach-the-landmark-site">settled on their $32.5 million</a>&nbsp;<a>Mermaid Beach</a>&nbsp;site, earmarked for&nbsp;four towers which are set to transform the long-vacant property into a&nbsp;<a href="https://www.urban.com.au/new-apartments/the-landmark-14-seaview-avenue-mermaid-beach">vibrant new residential, commercial, dining and leisure precinct</a>.

<a href="https://www.urban.com.au/developers/aniko-group">Aniko</a>&nbsp;purchased the 1.13ha site, located at the corner of the&nbsp;<a href="https://www.urban.com.au/new-apartments/gold-coast-qld">Gold Coast</a>&nbsp;Highway and Seaview Avenue, in 2022.

<img alt="Aniko settle on $32.5 million Mermaid Beach The Landmark site" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/JPEG_aerial_aniko_masterplan_3_3d_render_by_volumevision.jpg?VersionId=1.uLIVBpLz2pmKWHXojCQzLNEk6zvYrM" />

Elsewhere on the Coast, Sydney apartment developer&nbsp;<a href="https://www.urban.com.au/developers/chanine-developments" target="">Chanine</a>&nbsp;Developments settled on a secured a site across 1407 Gold Coast Highway and 402-404 The Esplanade through site amalgamation specialists GV Property Group.

<a href="https://www.urban.com.au/developers/chanine-developments" target="">Chanine</a>, led by Marwan&nbsp;<a href="https://www.urban.com.au/developers/chanine-developments" target="">Chanine</a>, has now lodged plans for a boutique eight-level building with 15 half-floor apartments and a massive five-bedroom penthouse.

<a href="https://www.urban.com.au/developers/chanine-developments" target="">Chanine</a>&nbsp;said the vision&nbsp;is to bring the opulence of the Eastern Suburbs to&nbsp;<a href="https://www.urban.com.au/developments/palm-beach-qld" target="">Palm Beach</a>, in both finishes and aesthetics.

<img alt="Sydney developer eyes Palm Beach luxury apartments" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-04-22%20at%204.38.57%20pm.png?VersionId=y4ALTq055_MU5Wgcg6pnUfQ6iLLkhQvj" />

<a href="https://www.urban.com.au/developers/macquarie-york">Macquarie York</a> is another starting to put their marketing together for their next project, having received approval from the Gold Coast City Council for&nbsp;a 17-level tower&nbsp;at 50 Sunset Boulevarde, a 1,057 sqm riverfront block on the Nerang River facing&nbsp;<a href="https://www.urban.com.au/developments/chevron-island-qld">Chevron Island</a>'s Home of The Arts building.

<a href="https://www.urban.com.au/architects/plus-architecture" target="">Plus Architecture</a>&nbsp;designed the building which will have 42 two and three-bedroom apartments and a three-level, four-bedroom penthouse.

Plus, led locally by Danny Juric, says the project has been "meticulously designed to seamlessly blend with its urban and natural surroundings, achieving a harmonious balance between the human-scale streetscape, riverscape, and the emerging skyline."

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/macquarie-york-secure-approval-for-new-surfers-paradise-apartments">Macquarie York secure approval for new Surfers Paradise apartments</a>

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/city-beat-march-2024-what-is-happening-in-the-gold-coast-off-the-plan-apartment-market">City Beat March 2024: What is happening in the Gold Coast off the plan apartment market?</a> 
&nbsp;

The median value for a Gold Coast unit is now at $768,000, having started the year at $727,000

City Beat May 2024: Gold Coast unit market continues to surge

Latent Defects Insurance (LDI), is changing the game for off the plan apartment buyers in Australia.

This insurance product provides off-the-plan apartment buyers with a 10-year warranty on their new apartment and the building it's situated in. The cover is purchased by the property developer/builder (pre-construction) and is designed to protect owners against any immediate or future problems with the structural components of their new property, from leaks to cracks and everything in between.

Some of Sydney’s biggest and most respected developers have embraced the new insurance. The likes of Deicorp, Kanebridge, <a href="https://www.urban.com.au/developers/abadeen-group">Abadeen</a>, Coronation Property and Urban Property Group have rolled out the insurance across some, if not all of the projects they’re currently undertaking.&nbsp;

Sydney-based Resilience Insurance, the first insurer to launch LDI in Australia, is now taking the product national, and is having conversations with developers in Melbourne, Brisbane, the Gold Coast and Perth.&nbsp;

<h2>How does Latent Defects Insurance work?</h2>

Resilience Insurance CEO Corey Nugent says the insurance, which has been around for about seven decades across the globe, benefits both the purchaser and the developer.

“Ultimately what we’re trying to do is build better buildings the consumers can have trust in, but more importantly improve the post completion and settlement process, so that when buyers take possession, they have full insurance protection, from day one, for 10 years” Nugent says.

“The insurance protects the buyer from any structural defects in the building, and developers who have taken Resilience LDI have reported an uptick in both sales volumes and sale values compared to competing developments that don’t have Resilience LDI.”

[smartcode_project:default project_id=7106 project_image_fid=239175]

While giving confidence to the consumer at the end of the build, Resilience LDI is actually in place throughout the build process. Rather than it solely being used as a rectification product, the insurance kicks in to fix issues when they arise, rather than down the track following completion. Of course the insurance protects owners at that stage too, however the ideal scenario is any problems that come up during the building get fixed well before settlement.

Resilience has a string of expert partners who are onsite even before construction has started to ensure even the ground the development is being built on is structurally sound.

<h2>What does LDI mean for off the plan apartment buyers?</h2>

A survey undertaken by MatterFact, Urban.com.au’s data product, shows the biggest thing holding back prospective purchasers from buying an off the plan apartment is the trust and faith they have in the developer, followed closely by the concern the build won’t be of good quality. It was a common consensus on the survey conducted from state to state, where delivery was much more of an issue raised compared to budgets, approvals or price of the apartment.

[smartcode_project:default project_id=112966 project_image_fid=213736]

“LDI is about to change the game in the off the plan apartment market,” Urban.com.au CEO Mike Bird says, adding that the insurance will be a huge boost to helping solve Australia’s housing crisis.

“With the large imbalance of supply and demand in Australia, there has to be a move to off the plan apartments, but to get there, consumers need to be more confident in delivery.

“Unfortunately the industry has been tarnished by a small number of developers who haven’t acted on behalf of the consumer in the last five years or so. Developers who have Resilience LDI are telling consumers that they’re in a partnership with them, and they will deliver the quality that they promised. If they don’t, then the insurance protects the purchaser, without all the trials and tribulations of litigations and long, drawn out court cases which often cost thousands of dollars as well as significant upheaval whether it be mental or physical.

<h2>How does Latent Defects Insurance impact the developer?</h2>

Data collected by MatterFact also showed 60 per cent of off the plan apartment seekers would pay over 1.5 per cent of the apartment price for it to have LDI cover, which typically outweighs how much it costs a developer to purchase Resilience LDI.&nbsp;

Nugent says there have been instances already where developers have reported prices with a four to five per cent increase due to them having LDI, compared to similar projects in the same area.

[smartcode_project:default project_id=134951 project_image_fid=223715]

While there’s been a handful of progressive new tools to try and build confidence in the off the plan industry, such as the iCIRT-rating system and KMPG’s Building Trustworthy Indicator, no one has gone as far as Resilience LDI in terms of actual protection for an off the plan apartment buyer.

NSW Building Commissioner David Chandler recently lauded the introduction of LDI, suggesting it will improve the design and construction of apartment buildings in NSW.

“These reforms have come about due to the united commitment of government and industry to transform the NSW construction sector,” Chandler said.

“NSW is now in the position of being a national leader in offering an insurance product of this type for Class 2 buildings because of the three years of conscious effort and commitment by Government and industry to the journey we have been on under Construct NSW.

“We’re looking to clean up the market and bring an end to expensive litigation against developers who have deep pockets or subsequently vanish into thin air.”

To find out more about Resilience LDI, <a href="https://resilienceinsurance.com.au/">click here</a>.

Resilience Insurance CEO Corey Nugent says the insurance, which has been around for about seven decades across the globe, benefits both the purchaser and the developer

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