Undervalued and untapped - developers descend on Gold Coast's prime property pocket

While a buying bonanza has rocked the southern Gold Coast property front, further north the development elite are surging into the Broadwater precinct as it emerges as one of the most undervalued waterfront destinations on the Gold Coast.

Look just beyond the glinting high rises of Surfers Paradise and you’ll spy a sprawl of coastal suburbs boasting a laidback charm set among established communities fanning out from the city’s business district.  

A handful of visionary developers have already swooped in on prized sites between Labrador and Biggera Waters, foreshadowing an epic era of growth for the region. 

Ron Bakir’s Homecorp has paved the way for a Broadwater boom with its landmark $150 million project pitched for Labrador’s ultra-desirable, exclusive waterfront promenade – dubbed the ‘Golden Mile’ for its harbourside prestige.

“The Broadwater precinct offers buyers the chance to purchase a slice of the waterfront luxury sweeping the coast, at a fraction of the price for what it would cost them further south,” said Deborah Provost, Managing Director of DP Project Marketing, the company appointed to market Homecorp’s project. 

Buyers have pounced on the unprecedented price point for high end waterfront living, descending upon Homecorp’s ‘Eve Residences’ to generate $100 million in sales within weeks of its launch.

“At the moment, all roads are leading to the Gold Coast for investors, families and downsizers and we are bringing an affordable luxury product that is proving to be extremely competitive in the local market,” said Ms Provost.

“We’re seeing savvy buyers snatch up seriously undervalued properties that are home to remarkable amenity, views and connectivity - where else can you gaze across an undisturbed waterfront, while the Gold Coast CBD sits at your back door.”

Crowned by one of the coast’s most indulgent rooftop oases, Eve gazes across never-to-be-built-out view lines over the Broadwater to the blue horizon of the Pacific Ocean.

Homecorp’s Broadwater breakthrough has been closely followed by Christie Leet’s Sherpa Property Group. 

After securing back-to-back sell-outs on the southern beach front, the developer has beelined north into the Biggera Waters marketplace, eyeing off the untapped value on the banks of the Broadwater.

Recent data collected from Colleen Coyne Property Research shows Biggera Waters is in the top 20 regional growth suburbs in Queensland for houses over the past 12 months, ranking 19th with an increase in the median prices of 29.2%. 

“Biggera Waters has been simmering with undervalued potential for some time now, and these figures indicate that there’s significant upside on the Broadwater which is something we always look for our buyers,” said Sherpa Property Group’s CEO Christie Leet.

“It’s more affordable than its neighbours to the north and certainly in comparison to what has been a white-hot southern Gold Coast market.

“The region is also very boutique in nature with very little development ensuring it retains its unique charm as the Gold Coast’s untapped leisure time-paradise.

Sherpa will transform a prime waterfront site along The Esplanade into a sprawling collection of six full-floor, 3-bedroom residences, topped by a two-storey penthouse. 

“Perspective Broadwater, provides a rare opportunity to become an exclusive first-mover to the next prized pocket of the Gold Coast, offering buyers the chance to capitalise on the imminent value surge,” said Mr Leet. 

On its backdoor, Southport is dishing up its own taste of affordable luxury, where buyers can get their hands on Busikon’s luxury Waverly Residences from as low as $345,000 and venturing up to $680,000.

The Gold Coast’s original luxury high-rise suburb, Main Beach, is undergoing a renaissance, amplified by the $205 million revitalisation of the Spit and introduction of a 300-berth marina at The Southport Yacht Club. 

Two prolific developers have been quick to capitalise on the undervalued potential lying within the well-established beachside hub primed for a rebirth. 

Spyre Group has laid plans for a lush 18 storey, one-per-floor development at 3640 Main Beach Parade while local developer GDI Group has unveiled its inspired plans for an opulent 27-storey collection of high-end apartments in the suburb’s dress circle enclave. 

GDI’s ‘Drift’ will showcase its very own ‘Wellness Centre” resident’s recreational area complete with a swimming pool, sauna, stream and massage rooms, spa, cold therapy pool, health club, yoga room, lounge with fireplace and outdoor BBQ dining area.