Siera Group furthers the urban renaissance of Surfers Paradise with second Gold Coast development
Siera Group, a Brisbane-based developer with a long-term interest in the Gold Coast, is advancing the urban renaissance of Surfers Paradise with plans for a stunning $120 million development that will combat current industry and buyer concerns while bringing affordability to beachside living.
Siera Group is taking a considered approach to the development, which is yet to have its name and branding revealed, which the company has crafted to further the emerging regentrification of Surfers Paradise.
Plans for the development come on the heels of Siera’s first Gold Coast project, Tapestry, a landmark residential development for Chevron Island inspired by the unique suburb’s eclectic village community and aimed at further contributing to the Gold Coast City Council plans to regentrify the once bustling Island.
The proposed Surfers Paradise project, located at 8 Enderley Avenue just 60 metres from the Surfers Paradise beachfront, takes advantage of the site’s unique park side position with a design that balances inner-city living with the connection to the coastal environment.
Offering extensive locality, the development site is situated along the light rail corridor just 120m from the Northcliffe Station platform, aligning with the councils long-intended vision for housing supply that offers access to quality public transport in aim of reducing reliance on motor vehicles.
“We felt this provided the perfect opportunity to deliver generously sized, well-designed apartments within a building that has an abundance of amenity with a focus on health and wellness,” said Siera Group founder, Brent Thompson.
“It is not only the beach that is extremely accessible, as residents will have a short 100 metre walk to the light rail station or the Northcliffe Surf Club to the south, or 10 minutes into the heart of Surfers Paradise to the north.”
Siera Group devoted a great deal of the preliminary design phase to ensuring the buildability of their latest project.
“This is particularly critical at a time when the delivery of projects is becoming more challenging, which we believe will lead to fewer and fewer projects coming to fruition,” said Mr Thompson.
Across both of their latest Gold Coast developments, Siera Group has responded to extensive research it has undertaken into the Gold Coast market which reveals a continued shortage of apartments that meet the needs of a large cohort of buyers.
“Despite the perceived level of development activity, we have found there is a genuine undersupply of quality, boutique apartments across the Gold Coast, and in particular within Surfers Paradise which continues to see the largest population growth across the region,” said Mr Thompson.
“The Gold Coast is facing a major housing shortage with the current vacancy rate of 0.4 per cent highlighting this, and the current pipeline of projects and anticipated supply not enough to meet the current demand let alone future interstate and overseas migration.”
Mr Thompson said the company took an extended, strategic approach to creating a project that involved the off-market acquisition of eight individual apartments over six months to amalgamate the site.
“Sites like this, located less than 60 metres to the beach with two-street access and a park sitting between the site and the beach, are very rare,” said Mr Thompson.
“It offered us exceptional flexibility to come up with an elegant building design that captures the amenity of the Gold Coast’s most famous lifestyle suburb and provides superb undisturbed view corridors.
Siera Group has experienced strong demand from local owner occupiers at Tapestry on Chevron Island.
“Interstate buyers also see the value proposition the Gold Coast offers and, with talk of interest rate increases and the potential impact on property prices, we are already seeing buyers who want to lock in a property for the next stage of their life and cash in on the growth they have seen in their current homes.”
Siera has ensured that their latest development has tapped into this demand by designing most of the residences with three-bedroom layouts, in addition to a limited selection of 11 two-bedroom apartments. The development will be crowned by an expansive four-bedroom penthouse that will take full advantage of the northern and southern beachfront vistas.
BDA Architecture and FORM Landscape Architects have collaborated to create a striking building design for the prime 964sqm site that abuts Gaven Place Park and offers premium ocean and hinterland views. Enderley will deliver 54 residential apartments complemented by a host of on-site resident amenities across two levels.
Siera Group recently lodged a development application for their new project with plans to officially launch the branding in coming months.