Gold Coast development: Developers abandon Helensvale hotel for residential project

A developer has abandoned longstanding plans to build a hotel in a Gold Coast suburb. He reveals why, and what he’ll build instead.

Longstanding plans to build a hotel tower in Helensvale have been dumped in favour of expanding a residential housing estate.

Joint developers Keylin and Kinstone Group have filed new plans with the Gold Coast City Council to build another two four-storey unit buildings at their 65ha Serenity 4212 project overlooking the Coombabah lakelands.

The 2.2ha new state of the precinct will also include 20 four-bedroom villas with waterfront access.

Keylin boss Louis Chieng said changes to the market had brought the changes.

“Some of the original planning approvals at Serenity 4212 date as far back as 20 years ago and this particular part of the masterplan was earmarked for a four-storey, 50-room hotel,” he said.

“The community has evolved significantly since then and our vision for the site better reflects the lifestyle aspirations and amenities that homeowners value.

“We have also sought a lower density in this precinct than what the planning approval allows to achieve the best possible outcome from a community and a design perspective.”

The unit block blocks will feature 83 units with a mixture of two, three and four-bedrooms each.

The development partners were behind the earlier stages of the Serenity project and last year turned their attentions further north, buying a 47ha site in the Coomera Town Centre precinct.

Luxury tower planned for ‘bomb site’ next to pub

A SYDNEY developer will redevelop one of Surfers Paradise’s most prominent “bomb sites”.

The mixed-use tower, known as “Frederick”, has been put forward by developer Green Chilli Project, headed by Indian-born businessman Navraj Singh. It will be built to 17 storeys on an empty 887sq m Gold Coast Highway site across the road from Irish pub the D’Arcy Arms.

The site, fronting the light rail track, has been used as a carpark in recent years.

Documents filed with the Gold Coast City Council reveal it will have 35 units, with 28 having three bedrooms.

It will have three levels of basement carparking with space for 57 vehicles and a cafe on its ground level.

The site has long been an empty carpark.

“This project offers the opportunity to design an iconic architectural building within the high density precinct of Surfers Paradise,” a planning report filed by Mr Singh reads.

“The project offers high quality contemporary design that respects and integrates the surrounding environment and architectural character.

“The deliberate and thoughtful detailing of the built form demonstrates a positive outcome to the Surfers Paradise skyline.”

It will front the light rail.

It is the latest of the so-called bomb sites – blocks in central Surfers Paradise cleared in the 1980s and 1990s for redevelopments which never eventuated - to be targeted for new towers.

The Bulletin last week revealed Gurner Group had received council approval to build its $1.75bn, four-tower La Pelago project at Budds Beach. SPG Land is awaiting the green light for its $800m, three-tower Paradiso Place development on a neighbouring block.

The tower will have an infinity pool on its roof.

Revealed: How much it costs to live in house-sized unit

CONSTRUCTION will begin this year on a $290m luxury Covid-safe tower in southern Surfers Paradise.

The Gold Coast City Council has approved Gallery Group’s 36-storey art deco-inspired Chalk tower on Surf Parade.

The high-rise is unusual in that it will have 99 units, all of which will be 249.6sq m or larger, a greater floor space than the average Australian home, which is 235sq m.

Two-bedroom units start from $971,000 while its larger three-bedroom apartments will cost $2m on the lower levels and more than $3.6m above its 19th level.

Gallery Group CEO Adam Barclay said: “These really are homes for owners to immerse themselves in, rather than apartments to simply visit or stay.

“To put this size into perspective, the average Australian home is 235sq m – which are now the largest homes in the world,” he said.

“The average size of a Chalk apartment is considerable 249.59sq m, underlining the rarity of these elevated homes of scale and presence set in the sky.

“We wanted to deliver a level of spaciousness and open-plan living that is typically unheard of in apartment living.”

It has been designed to have a fully equipped business centre including “zoom rooms” for teleconferencing.

Truth about Coast’s vacancy rates

OFFICE vacancy rates on the Gold Coast are at their lowest levels in nearly 15 years and it will only worsen, a new report says.

A study by real estate firm Colliers shows vacancy rates are lower than they were during the global financial crisis and exceed several major capitals, including Brisbane, Adelaide and Melbourne.

The Gold Coast’s vacancy rate is 10.1 per cent, down 4.2 per cent since January 2021 and the 11.3 per cent recorded in mid-2021. Brisbane and Adelaide sit above 15 per cent.

D SP Facets Towers 2 North

There are only two office buildings under construction in the city – at 26 Lawson Street in Southport and 18 Campus Crescent in Robina, delivering a combined 4275sq m of space in 2022.

Because of that and increasing demand, Colliers International office leasing associate director Bede Blatchford said he expected the vacancy rates to tighten further.

“After a strong 2021, we anticipate the Gold Coast office market to maintain its momentum throughout this year with a possible further tightening of the city’s overall office vacancy due to the modest construction pipeline,” he said.

Artist impression of the under-construction five-storey office building planed for Lawson Street, Southport

“We’re also going to see a continuation of the flight-to-quality theme from occupiers that will likely lead to more office buildings undergoing refurbishment programs as landlords take advantage of positive leasing conditions.

“Businesses these days place a great deal of emphasis on staff wellbeing and satisfaction, and with the tighter labour market more businesses have been looking for office space that provides a workspace that employees want to be a part of.”

According to the report, Bundall is now the tightest office market on the Gold Coast with a vacancy rate of just 6.4 per cent.

The vacancy level in the Robina-Varsity Lakes area fell from 18.8 per cent at the start of 2021 to 10.9 per cent in January 2022.

Office space is at a premium on the Gold Coast.

Mr Blatchford said improved office market conditions had led to increased rents in some Gold Coast office precincts, while incentive levels had stabilised since 2020 when the market was rocked by Covid.

He said some companies were relocating their offices to the Coast from the capitals.

“We have also seen businesses decentralise from CBD markets to take up space in regional areas such as the Gold Coast,” he said.

“The appeal for them is the lower density of population compared to CBD locations, reduced commute times for employees and less reliance on public transport, which are all factors that drive employee wellbeing and satisfaction.”

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Originally published as Gold Coast development: Developers abandon Helensvale hotel for residential project