Location key to Heights site

Vanessa Jones   |  12:01am March 23, 2013

INTEREST in the $70 million Palm Beach Heights Estate at Elanora has been strong with seven sales racked up since the beginning of the month.The boutique development on Nollamara Drive, Elanora, and bordering Palm Beach, comprises nearly 10ha. It was purchased just over three years ago from RSL Care, which had planned to construct a retirement village.Beacon Builders director Peter Beaconsfield said he had been waiting for the right opportunity to release the first stage."We feel this year is going to be a turning point in the real estate market and that there are real needs for owner-occupiers who have changing circumstances in their family situations, for one reason or another, who would like to build a new home," he said."This is an infill site in an older suburb with a lot of developed services and facilities."It's close to beaches and inlets and, from a family point of view, it is in an ideal location close to schools and shopping."If you want to have a Gold Coast lifestyle it's better than being three-quarters of an hour away from ocean frontage. The market has moved out to Ormeau now but it's not really a true Gold Coast lifestyle."Mr Beaconsfield said the estate would have a strong affinity with people who lived between Broadbeach and Coolangatta and who wanted to stay in that area but build something new."There have been very few opportunities to build a new house if you wanted to stay in that area. Until now you've had to move further inland to the Hinterland or up the M1 or south to the Tweed," he said."This is a great opportunity. It's a one-off and there is no adjoining vacant land where the next developer can build another subdivision."He said Palm Beach Heights Estate would appeal primarily to owner-occupiers who were second or third home buyers, although a handful of first home buyers who were young professionals and had "a little bit more than what is required to buy in the Ormeau or Coomera" might also be in the mix.The subdivision will comprise 81 lots -- 58 single dwelling lots, 15 duplex lots and 8 group title lots, with provision for only 152 dwellings.Stage one will comprise 27 single dwelling lots ranging in size from 480sq m to 648sq m and in price from $285,000 to $340,000.There will also be four duplex lots ranging in size from 732sq m to 810sq m and in price from $370,000 to $390,000, and a four townhouse site with an area of 1310sq m and priced at $488,000.Some lots will have ocean views and more than 20 per cent of the estate will be open space.The development follows the success of Beacon Heights on Foxwell Road, Coomera, which was completed several years ago and was the fifth project for the family business in the Gold Coast region.Mr Beaconsfield said convenants similar to that at his Coomera development would apply including rendered facades, Colorbond or flat-style roof tiles and six-star energy ratings as a minimum.Beacon Builders was started by his father Howard about 55 years ago, his first project on the Gold Coast being the Sunbird Plaza apartments at Main Beach in the early '80s, and there had been a number of other subdivisions.Mr Beaconsfield worked in partnership with him for 30 years until Howard passed away about two-and-a-half years ago.An engineer, Mr Beaconsfield has also been a builder but has been involved in property development since 1980.His wife Sharon works in the business with him in project management and sales.Mr Beaconsfield said the Palm Beach Heights Estate marked the first time in decades a new estate had come on to the Gold Coast market only moments from the beach."There will be no problems getting that surf in before work at Palm Beach, Currumbin Alley or Snapper Rocks, or to take the family to Tallebudgerra Creek or Currumbin Creek for safe swimming," Mr Beaconsfield said."This is an unique opportunity to build your new home in an established suburb with well-developed facilities and services."Purchasers can choose their own builder and build their new home to meet their unique requirements."Construction of the first stage started this month and is scheduled for completion in July/August.The three-stage development is expected to be completed by the end of next year."It was the Gold Coast City Council Kickstart program which was offering a discount on infrastructure costs that was a catalyst for getting started," he said."I'd like to see 80 per cent of stage one sold before I release stage two so am expecting that to happen around November."Marketing agent Shaun Darcy, of Ray White Robina, said although the land was hilly, on completion of the earthworks and the re-contouring of the land, the slope across the building pad area of each lot would average 1.5m and many lots would have near-level building pads.All lots will be fully serviced with underground power, water, sewerage, stormwater drainage and the National Broadband Network (NBN).It is only minutes to the patrolled surf beach, family swim spots, The Pines shopping centre, Nineteenth Ave shops, Palm Beach shops and schools.

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