Gold Coast – realestatesource

THE Gay Group of Companies has paid development partner Macquarie Group and Urban Pacific an undisclosed sum for its remaining interest in a $450 million Gold Coast residential development.

The Gay Group and Macquarie consortium were marketing the final blocks within its River Links project in Coomera, a 500+ block residential village under construction on what was once a dairy farm. The developers purchased the farm in 1998. The Gay Group will now resume full control of the project.

National

Stockland Pays $22 Million For Three Retirement Villages

July 3, 2011 Marc Pallisco aged care, Canberra, Gold Coast, Mount Gravat, Stockland

STOCKLAND has paid $22 million for three retirement villages.

The complexes were offloaded by Retirement Villages Group (RVG)), a struggling unlisted retirement fund run by the FKP Property Group and Macquarie Bank.

The portfolio acquisition adds 376 to the number of independent units offered by Stockland. Combined with serviced apartments, it now manages a total of 7403 dwellings.

Queensland

Scott’s Refrigerated Freightways Pays $12 Million For Gold Coast Factory it Occupied

May 10, 2011 Marc Pallisco Gold Coast, Gold Coast Industrial Property Sale, Ormeau

SCOTT’S Refrigerated Freightways has paid almost $12 million for a distribution centre at Ormeau on the Gold Coast. The 2.1

Queensland

Government Closes EOI For Prominent Gold Coast Site, Again

March 7, 2011 Marc Pallisco Gold Coast, palazzo versace, Queensland Government, Seaworld

AFTER shelving plans to redevelop the prominent site three years ago, the Queensland government is offering a Gold Coast property to the public again.

The property is known as the Gold Coast Marine Development site, and is between tourist meccas Seaworld, and the Palazzo Versace Hotel.

It has been earmarked to become a tourist attraction, however attempts to tender the site was met with lukewarm reaction in 2007, and formally shelved in June 2010.

Queensland

Gold Coast Residential Values Continues to go Backwards

February 6, 2011 Marc Pallisco Gold Coast, Gold Coast Prestige Residential

GOLD Coast nightclub owner Jamie Pickering is reported to have paid $2.5 million for a penthouse in the Circle on Cavill building.

The price is a sharp drop from the $5.95 million another investor paid developer Sunland for the flat, off the plan.

The result vindicates researchers who report some Gold Coast values have collapsed by more than 50 per cent since the economic downturn took hold in 2008. Some agencies report clearance rates as low as 10 per cent.

That said, a four bedroom waterfront home at Paradise Waters sold for $4.8 million. However that price was far less than the $5.8 million another investor paid for it, in 2005.

Queensland

Struggling Gold Coast Market to be Tested at Portfolio Auction

January 9, 2011 Marc Pallisco Gold Coast

SOME 10 per cent of properties scheduled for auction on the Gold Coast on January 28 will be mortgagee in possession sales.

All up 150 properties will be auctioned at the Ray White Surfers Paradise auction weekend, now into its 18th year.

The portfolio campaign includes 20 per cent more properties than scheduled, and will expand to include luxury boats for the first time.

Values for Gold Coast properties have fallen 50 per cent since 2008, because of a fall in tourism, and the collapse of high profile projects.

Queensland

Redcape Hopes to Recover $24 Million From Pub Sales

September 20, 2010 Marc Pallisco Gold Coast, Hedley, hotels, Illawarra, pubs, Redcape

ASX listed Redcape Property Group will sell two large pubs including the Kirra Beach Hotel in the Gold Coast, and the Lakeview Hotel in Illawarra, in New South Wales.

Redcape, the new name for the Hedley Leisure & Gaming Property Fund, is expected to make about $24 million from the sales.

Recently Redcaoe offloaded the Mountain Creek Tavern at Mountain Creek on the Sunshine Coast for $7.25 million, and the Wattle Grove Hotel in Sydney’s Wattle Grove (for $8.6 million).

Queensland

Gold Coast’s Miami One Shopping Centre For Sale

May 8, 2010 Marc Pallisco Gold Coast, queensland, shopping centre sale

GOLD Coast’s Miami One Shopping Centre has been listed for sale.

Assuming a retail yield of about 8 per cent, the centre would sell at a price of about $22 million.

Below is an announcement about the listing, by the selling agent.

Queensland

Budget Holiday Makers Drive Demand for Caravan Park Accommodation

February 21, 2010 Marc Pallisco caravan park, Gold Coast, Sunshine Coast, tourist accommodation

BUDGET holiday makers are driving a surge in occupancy for humble caravan park accommodation – and many are staying for longer than they have in the past.

A change in the facilities offered by some caravan parks – including pools, playgrounds and tennis courts – has also contributed to the newfound buoyancy.

But so too has a lack of supply – caused by some caravan parks selling to developers, who exploit their often spectacular locations with apartments and commercial facilities.

Australian Bureau of Statistics tourism data showed occupancy levels in Queensland’s caravan parks increased substantially in the year to September 2009, the most recent figures available.

Queensland

Government Tells Community to be Tolerant as Brisbane, Gold Coast, Sunshine Coast All to Receive More Social Housing

January 17, 2010 Marc Pallisco affordable housing, Bowen Heads, Brisbane, Chermside, commission flats, Gold Coast, kevin rudd, Mitchelton, Newmarket, NIMBY, public housing, Red Hill, social housing, Sunshine Coast, Wooloongabba

A RECORD number of social housing is being developed in Queensland this year, as part of the Federal Government’s recent stimulus package.

And the ALP State Government has said it won’t let protesters get in the way of construction.

The Courier Mail reports about 3000 units worth $1.1 billion are set to be developed in the State.

Queensland

Sunland Makes Another Development Site Purchase at Gold Coast’s Pacific Pines Estate

November 17, 2009 Marc Pallisco Gold Coast, new housing estate, pacific pines, sunland

DEVELOPER Sunland has settled on a $4 million development site at the Pacific Pines residential estate in the Gold Coast.

Queensland

Offshore Investor Pays $80 Million For Surfers Paradise Supersite

August 26, 2009 Marc Pallisco balmain trilogy, city pacific, Gold Coast, overseas investor, residential development site

AN undisclosed overseas investor is understood to have outbid several local players, to buy a 1.13 hectare block of land in Old Burleigh Road, Surfers Paradise, for about $80 million.

The disposal is the first since Balmain Trilogy took control of the $630 million First mortgage Fund from the beleagured City Pacific in July. The property, spread over 94 titles, was sold with two first mortgages and caveats, for debts which are expected to be paid off. The property was put to the market in May by mortgagee Fortress Credit.

Queensland

Pines Resort, Gold Coast, For Sale

April 7, 2008 Marc Pallisco For Sale, Gold Coast, Pines Resort, queensland, Real Estate News

CB Richard Ellis has been appointed to sell the prestigious Royal Pines Resort on the Gold Coast, in a move expected to attract significant interest from major developers and hotel investors.

Queensland

Devine to Sell Hideaway @ Carrumbin Site, Gold Coast

December 30, 2007 Marc Pallisco Devine to Sell Hideaway @ Carrumbin Site, Gold Coast, queensland, Real Estate News

Listed property developer Devine Limited (ASX: DVN) has entered into a contract to sell its exclusive Hideaway @ Currumbin site on the Gold Coast for $75 million.

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