Name: Inside Mason & Main Merrylands: Urban's display apartment tour of Coronation's latest placemaking project
Uploaded: 2024-06-20T06:15:31+00:00
Description: Coronation is expecting construction to complete by the end of the year, with buyers moving in shortly after

Two and a half years ago, when I was looking at the Broadbeach market in particular, I wrote a piece looking at the Broadbeach market.

"Why it's all about Broadbeach in 2022," was the article headline.

Fast forward to the present, and it's still all about Broadbeach. The fundamentals haven't changed, and interest in the market has continued from both developers and buyers.

Broadbeach has everything, from the famous Gold Coast beach to the amenity of the new Star Casino and the Gold Coast Convention and Exhibition Centre.&nbsp;

During 2021 and 2022, the suburb gained immense popularity among interstate investors, with inquiries from those seeking off the plan apartments from New South Wales and Victoria exceeding 40 per cent, data from <a href="https://industry.urban.com.au/data-insights">MatterFact</a>, Urban's new data product, showed.

While enquiry has declined from the peaks when the southern states were in and out of lock down,&nbsp;<a href="https://www.urban.com.au/developments/broadbeach-qld-4218">Broadbeach</a> is still consistently one of the most enquired on suburbs across the Gold Coast on <a href="https://www.urban.com.au/">Urban.com.au</a>.

Now local owner-occupiers dominate the market, while first home buyers are acting quickly to secure the first release of apartments knowing they're in competition for the entry level apartments with a still higher than normal interestate investor audience.

First home buyers now make up less than a fifth of the Broadbeach market given the huge price growth during the pandemic.

Data gathered from property data analytics firm, CoreLogic, showed the rolling annual growth from September 2020 jumped from 3.3 per cent to 37.2 per cent in September 2021. It remained well above 30 per cent until early 2022 when growth started to cool.

While declines were felt for just a few months in 2023 when nationally the country was going through a correction due to interest rate increases, growth has again picked up, with the rolling annual growth now stable between 10 and 15 per cent over 2024.

Barry Morris' Morris Property Group has known the draw of Broadbeach for nearly three decades. It was in the 1990s when Morris delved into Broadbeach. Now they're delivering their 10th and 11th projects in the suburb, with only a handful outside of the suburb over the last 25 years.

"Buyers love Broadbeach because it offers beachside living with metropolitan amenities, which is what the market is after," Morris told Urban back in 2022.

Morris has waited until they've nearly completed construction before launching <a href="https://www.urban.com.au/new-apartments/malo-broadbeach-8-jubilee-avenue-broadbeach-qld-4218">Malo Broadbeach</a>, just 16 half-floor apartments near the Gold Coast Convention and Exhibition Centre.

[smartcode_project:default project_id=112549 project_image_fid=293546]

The launch of Malo comes hot on the heels of success from <a href="https://www.urban.com.au/new-apartments/crest-broadbeach-13-armrick-avenue-broadbeach">Crest Broadbeach</a> nearby. Launched late last year, Crest, which comprises 182 two and three-bedroom apartments, has sold well over half of its apartments and recently kicked off construction through their in-house building arm.

There's no chance of Morris slowing down in Broadbeach either, however it's becoming more difficult to acquire a development site in the small 1.4 square kilometre suburb perfectly positioned between the bustling Surfers Paradise and the quieter Mermaid Beach.

They do have <a href="https://www.urban.com.au/news/qld/exclusive-first-look-morris-property-group-plot-another-broadbeach-tower">another tower lined up for 14 Chelsea Avenue</a>. Similar to Malo, the skinny tower will have 22 full-floor apartments.

[smartcode_project:default project_id=112024 project_image_fid=286004]

It was the draw Broadbeach that lured Sydney billionaire Sam Aranout's Iris Capital to the Gold Coast. They spent a reported $58 million on the landmark Niecon Plaza in 2021.

Not many developers can boast a $1 billion-plus development as their first in many states. Of course, Iris has a huge pedigree in both the residential development and hotel market. They're behind the $1 billion Newcastle placemaking development, East End, and own a string of hotels across the country.

[smartcode_project:default project_id=107928 project_image_fid=234100]

<a href="https://www.urban.com.au/new-apartments/victoria-albert-broadbeach-20-albert-avenue-broadbeach">Victoria &amp; Albert</a>, or V&amp;A as it's been more commonly referred to, comprises just over 400 apartments across two towers in the heart of Broadbeach.

The towers will have some of the most amenity ever produced on the Gold Coast, with a 25-metre lap pool, a fully equipped gym, a yoga deck and a resident’s lounge. The podium will also feature a children’s area, a Zen garden, and an outdoor dining and barbecue area adorned with lush green landscape.

Residents will sit above, and have direct access to, the full commercial precinct that will occupy the ground and podium levels and will home a suite of hand-selected retailers.

[smartcode_project:default project_id=107928 project_image_fid=234097]

<a href="https://www.urban.com.au/developers/mosaic-property-group">Mosaic Property</a>, one of South East Queensland's most prominent builder developers, is approaching completion of its two Broadbeach apartment developments, <a href="https://www.urban.com.au/new-apartments/marella-146-surf-parade-broadbeach">Marella</a> and <a href="https://www.urban.com.au/new-apartments/lily-by-mosaic-4-rosewood-avenue-broadbeach">Lily</a>, the debut apartment towers by Mosaic in Broadbeach.

When speaking to Mosaic CEO Brook Monahan in 2022, he said there's a lot of nostalgia with Broadbeach for a lot of residents in South East Queensland.

"It's a very nostalgic place for a lot of people who would have come to Broadbeach and holidayed as kids," Monahan says, adding that the walkability factor puts Broadbeach ahead of other Gold Coast suburbs.

"You can walk to 75 coffee shops/resultants, the light rail, or the surf club in minutes, as well as being on the doorstep of Pacific Fair shopping centre and the casino, which makes it one of the most appealing areas up and down the coast."

[smartcode_project:default project_id=112611 project_image_fid=206451]

The Broadbeach apartment development pipeline is possibly not as large as it was in 2022, but there are several major developments coming up.

<a href="https://www.urban.com.au/developers/amalgamated-property-group">Amalgamated Property Group</a> and joint venture partner Base Developments are preparing to launch its second Broadbeach development, Affinity Broadbeach, following the success of <a href="https://www.urban.com.au/new-apartments/amaya-at-broadbeach-30-first-avenue-broadbeach-qld-4218">Amaya Broadbeach</a> on First Avenue, around 700 metres away from the new project.

Amaya, under construction and slated for completion next year, features 120 apartments and is 95 per cent sold.

<a href="https://www.urban.com.au/new-apartments/affinity-broadbeach-42-46-chelsea-avenue-broadbeach">Affinity Broadbeach</a> will follow a similar footprint, with 185 two and three-bedroom apartments, also designed by DBI.

&nbsp;

The recreational amenities for residents will be situated on the fourth level, offering a range of facilities such as a swimming pool, residents' lounge, community living area with barbecue and outdoor dining space, gardens, gym, sauna, and a yoga/meeting room.&nbsp;

The Abedian family, who founded Sunland, is set for its first Broadbeach development having secured two side-by-side sites on Mary Avenue, opposite the Broadbeach State School.

Now under their new private family development company,&nbsp;<a href="https://www.urban.com.au/developers/arium">Arium</a>, bought the amalgamated 1,518 sqm site across 14-18 Mary Avenue that had been earmarked for Eternity, the second Broadbeach tower by Leo Sarris's Bassar Group following on from their nearby completed project Infinity. Then they bought the 600 sqm next door at 20 Mary Avenue from&nbsp;<a href="https://www.urban.com.au/developers/little-projects-co">Little Projects</a>, creating a development site of over 2,100 sqm.

Since Urban revealed the purchase back in April, <a href="https://www.urban.com.au/developers/arium">Arium</a> is yet to reveal what it's doing with the site. A few weeks later, Urban again revealed another site purchase, also in Broadbeach.

They secured a 516 sqm site at&nbsp;<a href="https://www.urban.com.au/new-apartments/11-anne-avenue-broadbeach">11 Anne Avenue</a>&nbsp;from&nbsp;the&nbsp;Brisbane-based&nbsp;<a href="https://www.urban.com.au/developers/di-carlo-property-group" target="">Di Carlo</a>&nbsp;Property Group, who had approved plans for a 17-level tower with 15 full-floor, four-bedroom apartments.

<h2>&nbsp;</h2>

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During 2021 and 2022, the suburb gained immense popularity among interstate investors, with inquiries from those seeking off the plan apartments from New South Wales and Victoria exceeding 40%

Joel Robinson

Why it's all about Broadbeach...still

Paddington's Given Terrace, the main high street in the popular Brisbane suburb, is set to be transformed with Core Property Partners and P&amp;MV Constructions teaming up to deliver a new mixed-use precinct.

The proposed development of the 2,830 sqm site at 208-220 Given Terrace seeks to retain and restore the village feel of the character retail strip, alongside the introduction of 12 luxury apartments, 31 short-stay accommodation suites and an activated laneway.

Speaking on behalf of P&amp;MV Constructions, Nick Vidakovic said the proposal presented a once-in-a-generation opportunity to reinvigorate the prominent high street and attract more visitors back to Paddington’s retail heart.

“We believe by transforming this part of Paddington into a precinct, rather than a destination, will improve foot traffic not only on Given Terrace, but also on Latrobe Terrace,” Vidakovic said.

“A new laneway connecting the precinct to the neighbouring childcare centre has been designed as a civic space that includes a timeline of the area’s history, dating back to 1881.

“Hopefully this will kick off a broader rejuvenation of the area, which will benefit all local businesses in and around the Terraces.”

<img alt="Paddington" data-entity-type="file" data-entity-uuid="0f81b50d-12ed-46b1-bad1-9f4586bb5fbe" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-04%20at%208.53.26%E2%80%AFAM.png?VersionId=Mp4Bv.608jqi1ip2vFuCcbEAZADU.uN." />

Core Property Development Manager Bikram Kaler said a focal point of the proposal is the restoration of the commercial character retail strip to accommodate artisan providores, restaurants and cafes.

“Given Terrace is the original heart of Brisbane’s high fashion and café culture, however in recent years it has lost some of that lustre,’’ Kaler said.

“The proposed development seeks to preserve Paddington’s character and reinvest in the prominent retail strip so that it attracts more food and fashion lovers to the high street.

“The introduction of a five-storey boutique residential building, set back from the character facade, will deliver 12 three-bedroom apartments with extensive greenery, rooftop amenities, and unobstructed views over the Brisbane CBD, Paddington Hill, and Red Hill’s landmark St Brigid’s Church.

“A second four-storey building will comprise 31 short-stay heritage suites, recognising the site’s close proximity to Suncorp Stadium and key Olympic precincts.”

The buildings will be connected by an activated laneway showcasing the suburb’s history and community pioneers dating back to the 1880s. It will be named “Hanlon Lane” in homage to Michael Edward “Ned” Hanlon, the former Queensland Premier (1946-52).

Designed by David Hansford of acclaimed local DAH Architecture, the project draws inspiration from the suburb’s unique ‘tin and timber’ homes and Brisbane’s contemporary sub-tropical lifestyle.

Kaler said the mixed-use precinct will have a front row seat to the 2032 Olympics.

“Paddington is well connected to the city’s top sporting and entertainment sites, with the transition of Given Terrace to Caxton Street providing seamless pedestrian access to Suncorp Stadium, The Barracks, and the proposed Brisbane Live precinct at Roma Street,” he said.

“Enhancing the existing retail spaces and providing a mix of residential and short stay accommodation will encourage increased visitation, create new jobs and deliver a positive economic impact for the suburb in the lead up to the 2032 Olympics and beyond.”

First look: Paddington's Given Terrace set for luxury makeover

A new apartment development that was pitched for affordable rental units two years ago, has been reconfigured to bring fresh new injection of apartment supply to <a href="https://www.urban.com.au/developments/bondi-junction-nsw-2022">Bondi Junction</a>.

The 2022 plans by&nbsp;Bondi Road Development, an entity tied to Charras&nbsp;Constructions Director&nbsp;Constantinos Charalambous, had sought to create two towers with 41 apartments, over half of which would have been reserved for affordable rental housing.

Those plans have now been scrapped and new designs by MHN Design Union plan for 46 apartments. They're seeking to tap into the new 30 per cent height bonus uplift, above the maximum building height of 28 metres, by dedicating 15 per cent to affordable housing.

The 11-level buildings would still sit comfortably below the 36.4m allowable height.

"The proposal sits sympathetically within its context," MHN Design Union wrote in its design statement submitted to the Waverley Council.

"The proposed height and scale is compatible with other surrounding developments, sitting amongst the high-rise buildings to the south, east and west of the site.

"The bulk and scale is reduced through the articulation of two, more slender and very distinct built forms that connect at the rear of the site."

Six one-bedroom apartments have been proposed, as well as 21 two-beds ranging in size from 72 sqm to 97 sqm, and 19 three-bed apartments that span between 124 sqm to the larger penthouses at 240 sqm plus. They feature their own private landscaped area with a plunge pool.

"This unit mix is consistent with market demand and represents a wide range of apartment typology," MHN Design Union added.

"It will suit the demographic mix of families and downsizers living within the area."

The site is located at 7-19 Bondi Rd, at the eastern edge of Bondi Junction. It comprises a consolidation of five separate lots, 7-9, 11, 13, 15, and 17-19 Bondi Road.

"This unit mix is consistent with market demand and represents a wide range of apartment typology," MHN Design Union noted.

First look: Bondi Junction plans revised to bring fresh new apartment supply

Sekisui House Australia has expanded its development pipeline with the acquisition of a two-hectare site in North Kellyville.

They've spent $17 million on 167 Foxall Road, a site not far from Woolworths Kellyville and North Kellyville Public School. The expectation is they'll be producing another community-focused, multi-residential development.

<img alt="Sekisui" data-entity-type="file" data-entity-uuid="8a39f841-8f89-416e-aee6-3606bda34e46" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-03%20at%207.46.31%E2%80%AFPM.png?VersionId=CWjhs1MNuw7NQgAPJ1B0d7HfU9qGC5gD" />

The acquisition adds to Sekisui's already significant interests in the region. They're heading towards completion of their $1 billion <a href="https://www.urban.com.au/developments/norwest-nsw-2153">Norwest</a> masterplan, The Orchards. They still have several towers to go, but just filed for the fifth and final stage.

The final stage will add three new Rothelowman-designed buildings, two residential buildings with 209 apartments, and a third for communal facilities.

They recently released a new stage at The Orchards, <a href="https://www.urban.com.au/new-apartments/the-orchards-veue-parkside-15-19-spurway-drive-norwest">Veue Parkside</a>, which saw <a href="https://www.urban.com.au/news/nsw/sekisui-house-australia-secure-over-85-million-in-apartment-sales-at-veue-parkside-the-orchards-community-in-norwest">50 per cent of its apartment sell on its opening weekend</a>.

[smartcode_project:default project_id=145924 project_image_fid=287364]

<a href="https://www.urban.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> has also committed $5 billion to the redevelopment of <a href="https://www.urban.com.au/new-apartments/melrose-park-659-victoria-road-melrose-park">Melrose Park</a>. This year, plans for stages five and six of this masterplan were submitted, with the project expected to ultimately deliver 5,500 homes.&nbsp;

The company recently celebrated 15 years in Australia.

Group CEO &amp; Managing Director, Hironobu Seto, said the company's&nbsp;achievements in Australia over the past 15 years have been significant.

"We have grown a portfolio of leading mixed-use apartment precincts including landmark developments like West Village in Brisbane, and The Orchards, Melrose Park and Sanctuary in Sydney, as well as our premium SHAWOOD home product, setting new standards for sustainable and technologically advanced home building in Australia.

“We have also brought to life a range of vibrant master-planned communities through our premium SHAWOOD brand, such as Gledswood Hills and Norman Estates in Sydney’s South West, which have achieved significant sales success and driven value for the region, with one of our homes setting a new house price record for the area."

[smartcode_project:default project_id=145924 project_image_fid=287359]

Sekisui's pipeline also includes a <a href="https://www.urban.com.au/news/nsw/sekisui-buy-st-leonards-development-site-for-next-apartment-project">significant site in St Leonards</a>, which was acquired for over $110 million and includes approved plans for 230 apartments across five four to eight-level buildings, as well as a central north-south 'green spine' which will feature a swimming pool area.

“We look forward to many more years of creating homes for our customers and contributing to the continued growth of the Australian housing market with our team and partners,” Seto added.

Sekisui's pipeline also includes a significant site in St Leonards, which was acquired for over $110 million and includes approved plans for 230 apartments

Sekisui House Australia increase development pipeline with $17 million North Kellyville acquisition

Brisbane developer <a href="https://www.urban.com.au/developers/dusk-group">Dusk Group</a>&nbsp;made a point to start construction on its latest townhouse development, Aurora on Depper in St Lucia, before taking it to market.

They commissioned&nbsp;<a href="https://www.urban.com.au/builders/akam-constructions">AKAM Constructions</a>&nbsp;to handle the build of the eight townhouses at 68-72 Depper Street that fills the need for a dwelling type in <a href="https://www.urban.com.au/developments/st-lucia-qld-4067">St Lucia</a> between apartments and standalone houses.

Urban.com.au CEO Mike Bird recently sat down with Huw Feeney, Director at Dusk Group, to talk about <a href="https://www.urban.com.au/new-townhouses/aurora-on-depper-st-lucia-68-72-depper-street-st-lucia">Aurora on Depper</a>.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/3a4JJLXQ-Fo?si=wxY2CRFk1yspkF3-" title="YouTube video player" width="560"></iframe>

Aurora on Depper aims to provide a more diverse range of housing options in this sought-after area by introducing eight three and four-bedroom townhouses, each designed with multi-purpose rooms that offer flexibility for use as a home office, additional bedroom, or second living area.&nbsp;

The townhouses are spread across three levels and are expected to appeal to a range of buyers, including downsizers, young families, and those with children attending the nearby University of Queensland.

[smartcode_project:default project_id=145923 project_image_fid=287621]

The project is designed by <a href="https://www.urban.com.au/architects/elevate-design-studio">Elevate Design Studio</a>, known for its work on residential developments that meet the needs of modern living.&nbsp;

Each townhouse will feature a two-car garage, kitchens with zero silica benchtops and butler's pantries, and hybrid timber flooring throughout the living areas. The inclusion of these features reflects a focus on both functionality and contemporary design.

Aurora is just 300 metres from the City Cat and major bus networks.

The project, which recently broke ground, is expected to be completed by mid-2025.&nbsp;

[smartcode_project_cta:default project_id=145923]

Urban.com.au CEO Mike Bird recently sat down with Huw Feeney, Director at Dusk Group, to talk about Aurora on Depper.

Michael Bird

Everything a buyer needs to know about Aurora on Depper, St Lucia townhouses

Video

Coronation is expecting construction to complete by the end of the year, with buyers moving in shortly after

A short thirty-minute trek from the CBD you'll find the family-friendly area of Merrylands, NSW 2160 which currently has eight new and off-the-plan apartment complexes on offer. You'll find all of them on Urban.com.au, the key to finding the new home that you love! Get in fast before they are snapped up.

Inside Mason & Main Merrylands: Urban's display apartment tour of Coronation's latest placemaking project

Mikah

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