NewsBite

How super tower approvals are causing property values to drop in neighbouring apartments

Residents who fear Main Beach will turn into Surfers 2.0 are building a war chest to fight high-rises amid claims the approval of three mega-towers has already caused property prices to plummet. HERE’S WHAT THEY PLAN TO DO

Drone footage of The Spit

ANGRY Main Beach residents are building a war chest to stop their luxury beachfront suburb becoming another Surfers Paradise after council ticked off on three mega developments.

The approval of Monaco, the Masthead and another super tower in Main Beach Parade has sparked a buy-up of potential development sites, according to residents and developers.

Artist impression of a new Main Beach tower proposed by developer Jim Raptis. Picture: Supplied.
Artist impression of a new Main Beach tower proposed by developer Jim Raptis. Picture: Supplied.
The planned 39-level Mathead tower at Main Beach Parade.
The planned 39-level Mathead tower at Main Beach Parade.

A resident told the Bulletin: “The town planning expectation is Main Beach will become the next Surfers Paradise. People (living next to these new mega developments) are losing huge amounts of value on their properties. Their value has dropped by 15 per cent because no-one wants to buy units.”

READ MORE: INSIDE THE BATTLE TO STOP TRAM TOWERS

More than 50 residents attended the Main Beach Association (MBA) annual general meeting to discuss the issue. It has responded by deciding to employ a top planning lawyer.

MBA leader Sue Donovan said donations were needed to fund a “multi-pronged approach” to stop overdevelopment of the suburb renowned for apartment towers with large landscaped surroundings.

“Since council’s approval of Monaco and Masthead, two highly controversial developments at the northern end of Main Beach, a development feeding frenzy has begun,” Ms Donovan said.

FULL DIGITAL ACCESS: JUST $5 A MONTH FOR THE FIRST THREE MONTHS

An artist's impression of The Monaco, Main Beach.
An artist's impression of The Monaco, Main Beach.

“The level of community anxiety about the future of Main Beach was reflected in a very large turn out at the association’s AGM in mid December.”

Residents at the meeting backed several motions including:

Obtaining legal opinion as to whether councillors and officers are correct that they have no option but to approve non-compliant, code assessable development applications.

Preparing an overlay map for councillors of all potential development sites in Main Beach, showing what would happen if only compliant projects were approved and compare that to one with large non-compliant towers that could destroy the suburb’s amenity.

Supporting the Community Alliance in seeking changes from the State Government which ensure non-compliant, code assessable development applications trigger impact assessment, enabling residents to be notified and appeal in the Planning Court.

Writing to Mayor Tom Tate, council CEO Dale Dickson and planning chair Cameron Caldwell urging them to “strongly enforce the performance outcomes of the City Plan”.

“The aim of the motions moved from the floor was to give the committee a charter to fund

campaigns and to send a message to council, State Government and the development industry

that the MBA is in this for the long haul,” Ms Donovan said.

TOP BABY NAMES ON THE GOLD COAST REVEALED

Main Beach Association leader Sue Donovan.
Main Beach Association leader Sue Donovan.

“We also want to give comfort to the membership and potential members that MBA is doing as much as possible, but will need donations in order to fund a multi-pronged approach.

“We accept that development in Main Beach will inevitably become more intense, but not to the extent that quality of life in our suburb is destroyed.”

The Monaco building planned for Main Beach.
The Monaco building planned for Main Beach.

Ms Donovan said the MBA had started identifying every potential development site in Main Beach and would create a graphic representation of what the suburb could become within five to 10 years, should council continue to approve bulky buildings on very small sites.

$5 MILLION FOR FORMER ‘SWINGING SAFARI’ SITE

View of the planned 39-level Masthead tower.
View of the planned 39-level Masthead tower.

“Our aim is both to educate the council of the cumulative effect of their action, and of course to inform and energise the community in Main Beach and beyond,” she said.

paul.weston@news.com.au

Add your comment to this story

To join the conversation, please Don't have an account? Register

Join the conversation, you are commenting as Logout

Original URL: https://www.goldcoastbulletin.com.au/news/gold-coast/how-super-tower-approvals-are-causing-property-values-to-drop-in-neighbouring-apartments/news-story/cca30a93c42a1bfb165c96a0014b239e