‘It was the best of times, it was the worst of times…’, the famous line from Charles Dickens’ A Tale of Two Cities could well describe the development sector over the past year.

While the off-the-plan projects game has never been for those with a faint heart or shallow pockets, even the most seasoned developers could be forgiven for baulking at the rollercoaster ride that played out during an unprecedented chapter in Australian real estate history.

Data compiled by property consultancy Urbis shows new apartment sales hit an all-time high on the Gold Coast in 2021– a record 2,492 new apartments sold across the year, easily eclipsing the 2015 record of 1,556 sales.

The growth in apartment values grew during this period as well with almost a third of new apartments – about 31%– transacting at price points above $1,000,000.

Record-high demand was met by record-low supply, creating the most acute shortage of new apartments experienced on the Gold Coast.

Only 411 new apartments remained for sale at the end of March this year – the lowest number recorded by Urbis since it began monitoring the new apartment market in 2014.

Despite 11 new projects launching during the March quarter, data continues to highlight the ongoing shortage of new apartments coming to market or making it out of the ground at all.

From the highs of last year’s sell-out success, the construction industry wash it by soaring costs, supply chain issues and labour shortages with a major flow-on effect to new developments.

While some developers have withdrawn their projects from the market, others are seizing the opportunity and breaking ground on new developments along the Coastline.

All Go On Aspire

Demolition is scheduled to move ahead this month at 9 Garfield Terrace, Surfers Paradise, where approval is in place for the 24-level Aspire, comprising 37 half and full-floor luxury apartments plus one penthouse.

Garfield Developments has secured builder Descon Group Australia to complete a22-month construction program following an eight-week demolition phase.

Glenn Reindel, of Garfield Developments, says a combination of factors put Aspire in a positive position as the project progresses towards construction.

“It’s been quite a journey to get here, but the original building on the site is ready to come down and Descon is locked and ready to begin construction on Aspire,” says Glenn.

“We saw an opportunity in going ahead because we believe there will be a limited amount of stock available as other developments stall or withdraw from the market.

Confidence is also drawn from the location – Aspire occupies a rare absolute beachfront site in the exclusive Northcliffe pocket of Surfers Paradise.

“Where else do you take one step from your building and be on the sand?” says Glenn.

“Absolute beachfront apartments will not only hold their value but increase over time.

The entire Northcliffe strip is under going a major revitalisation including a string of new developments and the newly refurbished Northcliffe Surf Lifesaving Club.

“Aspire will be the first tower finished within the Northcliffe beachfront precinct and the fit-out is second to none,” says Glenn.

“We believe in the need for the Aspire product in this particular area of the Gold Coast.

“Changes to the town plan would make it impossible to achieve what we have in this development again.

See For Yourself

According to Kollosche New Projects sales consultant Andrew Ramsey, buyers hunting a weekend retreat or a second home are leading the sales charge on Aspire.

“Aspire is particularly popular with downsizers and those wanting a weekend retreat or a second home, and that’s where we’re seeing the strength on the sales side,” says Andrew.

“One of the major selling points is that Aspire is a residents-only building. There is no holiday letting or AirBnb, the quality is high, the amenities support lifestyle living, so it ticks all of the big boxes.

“It’s a significant milestone to have this project now moving into demolition, giving buyers the confidence and certainty they need to buy off the plan.”

Those wanting to get a first-hand look and feel of the finishes and facilities planned for Aspire are invited to visit the display suite, now open on the ground floor of Oracle at 4 Charles Avenue, Broadbeach.

The display showcases life inside an Aspire apartment including a full kitchen and bathroom as well as luxury finishes such as flooring, cabinetry and tapware.

Kollosche New Projects are on-hand to walk you through the project and a 3D tour of a three and four-bedroom apartment, the amenities and the building exterior.

All Go On Aspire

Demolition is scheduled to move ahead this month at 9 Garfield Terrace, Surfers Paradise, where approval is in place for the24-level Aspire, comprising 37 half and full-floor luxury apartments plus one penthouse.

Garfield Developments has secured builder Descon Group Australia to complete a22-month construction program following an eight-week demolition phase.

Glenn Reindel, of Garfield Developments, says a combination of factors put Aspire in a positive position as the project progresses towards construction.

“It’s been quite a journey to get here, but the original building on the site is ready to come down and Descon is locked and ready to begin construction on Aspire,” says Glenn.

“We saw an opportunity in going ahead because we believe there will be a limited amount of stock available as other developments stall or withdraw from the market.”

Confidence is also drawn from the location – Aspire occupies a rare absolute beachfront site in the exclusive Northcliffe pocket of Surfers Paradise.

“Where else do you take one step from your building and be on the sand?” says Glenn.

“Absolute beachfront apartments will not only hold their value but increase over time.

The entire Northcliffe strip is under going a major revitalisation including a string of new developments and the newly refurbished Northcliffe Surf Lifesaving Club.

“Aspire will be the first tower finished within the Northcliffe beachfront precinct and the fit-out is second to none,” says Glenn.

“We believe in the need for the Aspire product in this particular area of the Gold Coast.

“Changes to the town plan would make it impossible to achieve what we have in this development again.”

See For Yourself

According to Kollosche New Projects sales consultant Andrew Ramsey, buyers hunting a weekend retreat or a second home are leading the sales charge on Aspire.

“Aspire is particularly popular with downsizers and those wanting a weekend retreat or a second home, and that’s where we’re seeing the strength on the sales side,” says Andrew.

“One of the major selling points is that Aspire is a residents-only building. There is no holiday letting or Air Bnb, the quality is high, the amenities support lifestyle living, so it ticks all of the big boxes.

“It’s a significant milestone to have this project now moving into demolition, giving buyers the confidence and certainty they need to buy off the plan.”

Those wanting to get a first-hand look and feel of the finishes and facilities planned for Aspire are invited to visit the display suite, now open on the ground floor of Oracle at 4 Charles Avenue, Broadbeach.

The display showcases life inside an Aspire apartment including a full kitchen and bathroom as well as luxury finishes such as flooring, cabinetry and tapware.

Kollosche New Projects are on-hand to walk you through the project and a 3D tour of a three and four-bedroom apartment, the amenities and the building exterior.

Visit Aspire Display Suite

Ground Floor Oracle, 4 Charles Avenue, Broadbeach
Open Monday-Sunday, 10am-4pm

For Further Details Contact

Simon Worthington
0412 145 551
simon@kollosche.com.au

Odette Humphreys
0431 746 950
odette@kollosche.com.au

Andrew Ramsey
0412 022 840
andrew@kollosche.com.au