Hilton Surfers Paradise is the first leisure-focused hotel and residences development by Hilton Hotels & Resorts in Australia.

It is also the first international five-star equivalent hotel to be built on the Gold Coast since 2000.

Newly appointed General Manager, David Kelly, brings with him more than 20 years experience in the hospitality industry.

At least 15 of those years have been spent with Hilton Worldwide, both in Australia and internationally.

Kelly was most recently the General Manager at Hilton Cairns, where he undertook major refurbishment projects and successfully restructured the business.

Prior to this he was Director of Business Development for Hilton Sydney during the hotel’s refurbishment and subsequent re-launch.

He also spent four years with Hilton in New York.

Kelly says it is a great honor to be appointed as General Manager of the newest and most eagerly-awaited upper upscale hotel to be built on the Gold Coast in years.

“Hilton Surfers Paradise is set to deliver a new standard of contemporary holiday accommodation on the Gold Coast,” he says.

“The development of a hotel and residence concept caters for customers need for additional space and more flexible accommodation options, without sacrificing upscale service and five star facilities.

Hilton Surfers Paradise will be the first hotel and residences offering by the leading accomodation chain in Australia, with 250 one, two and three-bedroom apartments available for holiday-makers.

It consists of two towers, with Boulevard Tower opening its doors to both residents and guests in December and Orchid Tower, consisting of additional residences and a dedicated Hilton Hotel, scheduled to open in mid-2011.

This is the lowest the number has been since about 2004.

The fall is essentially due to a reduction in the number of apartments actually being built on the Gold Coast – with development approvals having gone down continually in recent years and the market remaining reasonably flat.

MC Projects, the building arm of Vivid Progress, will launch Vivid development at Beach Parade today.

The four-storey development is on a 1012sq m site on the corner of Beach Parade and First Avenue opposite the Crowne Plaza Hotel.

Vivid Progress, linked to Ju You, Kwang Lee and Myoung Park of Upper Coomera, paid $1.95 million for the two-title site in February last year.

Vivid has six two-bedroom units on the lower two floors, four three-bedroom units on the top two floors and a 23-car basement car park.

Units are priced between $550,000 and $1.1 million and are 112sq m to 220sq m.

Garry Green of the Garry Green Group said Vivid was the first unit development for MC Projects on the Gold Coast.

“They have built some luxury homes here but this is the first unit development,” he said.

He said a lift helped set the development apart from many other unit complexes in an area dominated by three-storey walk-ups and high-density buildings.

“We believe a lot of our sales will come from buyers within 1.5km of the complex,” he said.

“We think people will be attracted to the ground floor units which, when you take into account the external courtyard areas, are almost 200sq m in size.

“Conceptual drawings have been done for the top-floor units to have the option of utilising 25sq m of space on the roof.”

Mr Green said should the units sell well MC Projects would look for other opportunities in the area.

“They are testing the market with this one,” he said.

Hilton Surfers Paradise (Gold Coast) – construction update…

Construction has topped out on the roof of the Boulevard tower of the Hilton Surfers Paradise Hotel and Residences on the Gold Coast – reaching 32 levels and 186 residences.

At the same time, work is moving forward on the second and tallest tower, Orchid Tower, which is currently at level 14 and due for completion in late 2011.

It will feature 57 levels and include luxury residential apartments and a Hilton Hotel.

The basement car park excavation has reached the B5 level, which is the lowest basement in the total of 6 levels.

With only 37 opportunities remaining within the development, this is the final opportunity to secure a private Hilton residence. Click here for more details on Hilton Surfers Paradise.

Coomera will move from back yards and double garages to high rises of up to 15 stories as council moves to create a Surfers Paradise in the ‘burbs.

The Gold Coast City Council plan would make the ‘family belt’ at east Coomera one of the city’s most densely populated suburbs.

The council’s ‘new urbanism’ design allows up to 200 dwellings per hectare (10 per hectare is normal for suburbia) which is a similar density to Surfers Paradise.

Coomera is being settled by young families who want bigger, affordable blocks. But with population projections of up to 350,000 people in Coomera by 2012, the council has to find new ways to squeeze them in.

‘Surfers Paradise in the ‘burbs’ is planned for the bush around the train station.

Local councillor Donna Gates said the State Government required the density to accommodate the huge numbers of people moving to the Coast, especially to the northern end.

“We need to accommodate them within the urban footprint and I don’t see how else it can be achieved.”

Cr Gates said the region would be well serviced, with council’s four-year capital works plan including a community centre, pool and library.

“We’re looking at the west (Coomera) now because that’s where people are now. But it’s all there in the forward planning.”

Buildings between two and six storeys will constitute most of the high rises but some as tall as 15 storeys will be allowed between the M1 and the station, said Cr Gates.

However developers say families will not want to live in high rises without beaches, shopping centres, restaurants and entertainment nearby.

Midwood Report author Bill Morris said east Coomera would have the same density as Surfers Paradise and Broadbeach — without the amenity — and in an area where people wanted bigger blocks.

“They are imposing this vision on east Coomera which may have the effect of ceasing development,” he said.

“It’s just wall-to-wall high density.”

The Coomera Town Centre Structural Plan revolves around a town centre near the railway line close to land owned by the State Government for future facilities such as a TAFE or a hospital.

Around that, the council wants high-density residential of up to 200 dwellings per hectare and for people to rely on local public transport.

Moving out from the town centre, housing will become less dense — between 25 and 150 dwellings per hectare — and include townhouses and average-sized blocks.

The project will include 91 apartments and a three-level underground carpark, with 124 parking spaces.

There will also be a public space and a recreational area.

Final application is with council and once approved construction is expected to begin as soon as possible.

The development will include a gym, theatre and barbecue area.

The three-bedroom penthouse will have exclusive access to a rooftop terrace and will feature a spa and plunge pool.

Almost $27 million has been spent on Gold Coast luxury apartments in the past fortnight, including $2.75 million for a penthouse in the Ambience twin tower development at Burleigh Heads.

A Brisbane couple, who did not want to be identified, bought the 15th floor penthouse.

The penthouse has three bedrooms and a study, three car parking spaces and an 86sqm wrap-around balcony offering sweeping ocean views.

Buyers are realising that prices aren’t getting any lower and brand new developments are becoming more harder to come by.

People have been sitting on their cash, but the property clock is at the bottom. People thinking they will sit around trying to pick the bottom of the interest cycle — they’ve missed it — it was two months ago.

Most of the buyers were from capital cities.

They’re from Brisbane, Sydney and Melbourne and they’re seeing the value in our top end.

They’re doing their research and they’re buying based on quality and location. They’re not buying based on price but they’re still getting good value.

Two other Ambience apartments have sold in the past two weeks including a three-bedroom, 13th floor apartment for $1.6 million and a three-bedroom, third floor apartment for $1.2 million.

The towers were finished in January and house 95 units, with only 15 left for sale.

Other Burleigh Heads apartment sales in the past fortnight include the penthouse and sub-penthouse at Ivory for $4.85 million and $3.8 million respectively.

The penthouse in the second Ambience tower, which is identical to the one just sold, is expected to sell quickly.

Four people, including some from Sydney, are ‘flashing their cheque books’ and have shown interest in the apartment in the past few days.

When it rains it pours.

Burleigh Heads appeals because it’s a touch quieter, families come back year after year on holidays and it’s an easy drive from Brisbane.

The Gold Coast’s southern beaches continue to attract luxury apartment buyers, with $3.245 million worth of property settling at one of the area’s premier developments, Kirra Surf, in the past month.

Buyers from across Australia have snapped up apartments during the latest sales run at the $95 million project, situated at Kirra Beach, bringing total sales to date to more than $70 million.

The settlements bring Kirra Surf’s sales tally to 77 of 91 units.

The sales come just weeks before the auction of the project’s luxury 11th floor penthouse.

The 254sq m penthouse features unobstructed 270-degree ocean views, three bedrooms, three side-by-side car parks and a rooftop spa and barbecue. It will go under the hammer on site on Wednesday .

During the latest sales run at Kirra Surf, a $1.7 million three-bedroom-plus-study apartment, $780,000 two-bedroom apartment and $765,000 two-bedroom apartment have sold.

The sales were to buyers from right around Australia, including Mount Tom Price in Western Australia, Bellevue Hill in NSW and Geelong in Victoria.

“Since the beginning of the year, this has been the trend for luxury apartments. “Interstate buyers are seeing the value offered by Gold Coast property, particularly apartments with beach or water views.

“The latest buyers have purchased in Kirra Surf as a lifestyle investment and intend to use it as a holiday home, which is indicative of the types of purchasers that have been attracted to the project.

“We are seeing the majority of interest from owner-occupiers or those who plan on living in, or holidaying, in the apartment for part of the year.”

Buyers recognise the opportunity to secure apartments in beachfront buildings such as Kirra Surf are dwindling.

There are few sites remaining and no new developments being launched at the moment, so buyers are seeing the value in purchasing now in prime locations such as this.

New policy changes will come into effect immediately, while those requiring alterations to the Foreign Acquisitions and Takeovers Regulations 1989 will come into effect shortly when amended Regulations are promulgated.

Off the plan sales to foreigners

Previously, developers could get approval to sell up to 50% of apartments in a new residential development to foreign persons. This has now been increased to 100%. Restriction that the apartment must be brand new when sold have also been varied to allow a developer to rent the apartment for no more than 12 months before it is sold by the developer to a foreign person. While developers could previously make an application to FIRB for approval of sales to foreign purchasers in particular development (and foreign purchasers did not have to make a separate application), this no longer applies. Foreign purchasers must now make their own application.

The form to be used has yet to be released and a review of these new laws will take place after two years. These changes are intended to help residential developers to sell more stock in the current financial climate.

Vacant residential land

Changed laws now allow foreign purchasers to build a new dwelling within 24 months of the acquisition of a vacant residential lot, as opposed to the previous time frame of 12 months.

Foreign companies purchasing second hand dwellings

There is to be no limit to the number of established dwellings which can be purchased for employee accommodation by foreign owned companies with employees in Australia. If the property is expected to be vacant for more than 6 months, then the foreign owned company must sell or rent the dwelling.

Redevelopment of second hand dwellings

Any development must increase the number of dwellings. The requirement that no rental income can be received prior to demolition has not been changed. A foreign purchaser will now have 24 months to commence construction of new dwellings where dwellings have been purchased prior to demolition for a particular residential project. Development expenditure must be at least 50% of the purchase price of the property.

Temporary residents purchasing second hand dwellings

A temporary resident now includes all foreign persons living in Australia on a valid visa, but does not include short term visitors such as tourists. Foreign students who are resident in Australia are no longer subject to a $300,000.00 limit on the value of an established dwelling purchased as their principal place of residence.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

For more information visit: www.firb.gov.au

• Foreign Investment Review Board (FIRB) Australia - Residential Property Changes