How important is construction commencement? Five Gold Coast apartment developments which started construction in Q4 2023
On the Gold Coast, it's never been more important to show prospective buyers you've started construction.
It's the biggest confidence booster for buyers, and in the same instance a marketing tool for agents and developers. Construction commencement has always been important in the off the plan industry, but never more so than now, in the face of one of the most challenging construction periods the market has seen.
While impacting the whole of the country, the construction challenges have been most apparent in South East Queensland, where the majority of the tier one builders are taking government-funded construction contracts for infrastructure projects before the 2032 Brisbane Olympics.
That's left builders few and far between.
The demand v supply from a labour stand point is seeing subcontractors and trades push their prices up too, another developer headache. Add to that increased cost of materials versus a few years ago, and you've got a perfect storm.
Developers who build their own projects have rode through the storm more unscathed than others, while a number of developers are now starting to bring construction in house. Some are leaning on a joint venture partnership with a construction firm to get the project out of the ground.
There's been some significant construction commencements on the Gold Coast in recent months, bringing a much needed 860 apartments to an undersupplied market still in vogue for both locals and interstate buyers.
Project: Tapestry
Location: Chevron Island
Developer: SIERA
Burgeoning developer SIERA were one developer to bring construction in house to start the build of their arts-focused Chevron Island apartment development, Tapestry.
The $135 million project on Darrambal Street is SIERA's first on the Gold Coast, after a long history of developing townhouses in Brisbane.
SIERA Founder and Managing Director Brent Thompson spent 12 months analyzing the market in the Gold Coast before snapping up the prime 1,518 sqm Chevron Island site, and brought in local architecture firm BDA with the brief to merge art with architecture and to pay homage to Chevron Island's Home of The Arts precinct.
Read more: Why Siera Group chose Chevron Island for Tapestry
The result is a 22-storey tower with 113 apartments and one of the most impressive rooftop amenity levels on the Gold Coast. It features a private dining space and kitchen, lounge and fire pit, yoga lawn, pool, spa and sundeck, barbecue and alfresco area, gym, sauna, steam room, and a lounge area separated by extensive landscaping.
Read more: Is this the best rooftop amenity in Surfers Paradise?
The remaining apartments for sale at Tapestry start from $939,900.
Project: Pipis
Location: 303 Golden Four Drive, Bilinga QLD 4225
Developer: SIERA
SIERA were too busy on the beachfront, turning the sod on their Bilinga Beach project, Pipis.
The luxury development on Golden Four Drive comprises just 19 apartments. They've appointed LPS Group to build Pipis, given they're already underway internally at Tapestry.
Read more: Siera Property Group kick off construction at Pipis Bilinga
The mid-rise building includes 17 half-floor apartments and two double-storey penthouses, with prices starting from $3.6 million.
Designed by Ellivo architects, the generous 279 sqm plus apartments have three bedrooms, each with an ensuite. The apartments get slightly bigger, up to 314 sqm, before the double-storey penthouses which have four bedrooms and 446 sqm of living space.
Pipis, with its absolute beachfront access and excellent connectivity to the Gold Coast, has predominantly drawn the downsizing owner-occupier from the local area, Brisbane, and Sydney.
Read more: "An opportunity not to be missed" Why Siera Property Group couldn't say no to Pipis Bilinga
Positioned in the exclusive pocket of Bilinga on the Southern Gold Coast, Pipis benefits from its proximity to the evolving Golden Four Drive strip and the developing Kirra Point to the south.
"When the opportunity to purchase 303 Golden Four Drive was presented to us, we couldn't miss the opportunity to take such a special piece of land and design truly unique residences," Thompson says.
Construction completion is slated for mid-2025.
Project: Victoria & Albert
Location: Broadbeach
Developer: Iris Capital
Developer Iris Capital has too joined the growing trend of developers taking construction in-house.
CF Group initially handled the early construction works of their landmark precinct Victoria & Albert, namely the excavation of the prime Niecon Plaza site in the heart of Broadbeach. But now the Sam Arnaout-led developer has announced its construction arm, Iris Built, will handle the next stage of the build.
Iris Built has assembled a proficient Tier 1 construction team with extensive experience in major projects, emphasizing their commitment to the successful delivery of V&A.
The Iris Built team will collaborate closely with Eastview Australia, a proficient project management firm with a track record of delivering major high-rise developments on the Gold Coast for over two decades.
Designed by DBI, V&A comprises two residential towers: Victoria Residences and Albert Residences.
Victoria Residences offers carefully crafted one and two-bedroom apartments with spacious indoor and outdoor living areas.
Meanwhile, the second tower, Albert Residences, offers luxurious, home-sized residences starting at $1.99 million with panoramic views of the Gold Coast's natural landscape.
V&A will feature a 25-metre lap pool with an outdoor dining and barbecue area, a spa and steam room, a Zen garden, a yoga deck, a boutique resident's lounge, and a kid's club area with a playground, all surrounded by sub-tropical gardens.
The project also includes a resident's sky lounge on the top level of Victoria Residences, complete with luxury dining, lounge, wellness, and work zones, providing breathtaking views of the ocean and city skyline.
Project: Cascade
Location: Robina
Developer: Andrews Projects
Family-owned Andrews Projects has commenced construction on Cascade, its largest venture to date.
They've too brought construction in house, creating "A Construct."
Upon completion, the $270 million twin-tower apartment development in Robina will home around 1,000 residents across 229 two and three-bedroom apartments and villas, the majority of which will offer panoramic views of the Surfers Paradise skyline and Gold Coast Hinterland.
Priced from $850,000, Cascade is poised to deliver significant economic stimulus to the Robina area, aligning with the State Government's vision for the Olympic Satellite Village in the vicinity.
Residents will enjoy access to a suite of six-star amenities, including a 25m resort pool, a 170 sqm gym, a sauna, a cold plunge, and a steam room.
The project is over 60 per cent as construction commences.
Project: Orama
Location: Chevron Island
Developer: Aniko
The George Mastrocostas-led Aniko Group is gearing up to commence construction on its next venture, the $150 million Orama at Chevron Island.
Once complete, Orama will feature 102 apartments, offering two-bedroom units ranging from $995,000 to $1.45 million and a variety of three-bedroom skyhomes starting at $1,995,000.
Orama residents will have access to a 550 sqm rooftop recreation area, inclusive of a gymnasium, pool, spa, residents lounge, and an array of other amenities.
The project is strategically targeting local downsizers and interstate migrants and is progressing towards a successful sellout.
Mastrocostas revealed that the project has already achieved almost $100 million in unconditional sales since its market launch earlier this year.
Construction is set to commence in November and is expected to take approximately 18 months, with completion scheduled for early 2025. Aniko has been a builder developer for a number of years.