The Queensland Government has released their 2011 land valuations for the Gold Coast. Overall, the land values in the city grew by 3%. Of the 55 suburbs, 20 saw zero or negative growth and with the exception of Bundall, all seven suburbs to fall in value were beachfront.  Broadbeach saw the biggest drop, down 8%, while Surfers Paradise and Mermaid Beach fell 4% each.

Conversely, the greatest gains were made in the western suburbs. Mudegeeraba came in on top with a 19% gain, followed by 18% in Tallai, 14% in Oxenford and 11% each in Helensvale and Nerang. Elanora also saw significant gains, up 15%.

You can view a full breakdown of values here on the Department of Environment & Resource Management website.

It remains to be seen what effect these valuations will have on Council rates.иконииконописikoniбългарски икони

In the wake of submissions following November’s approval of Potter Group‘s proposed Main Place development in Broadbeach,  the Planning Committee have reccomended a number of amendments be approved by Council. The 3275sqm site would still feature a 3-storey retail podium, topped with six levels of hotel space on half the site, as well as a 52-storey building housing 320 apartments.

Importantly, the amendments maintain that the development must achieve a Green Building Council of Australia five-star, Green Star standard for the offices and apartments and five-star National Australian Built Environment Rating System (NABERS) rating for the hotel.

When discussing the amendments, Committee Chair, Councillor Ted Shepherd said:

“We want to ensure that Main Place offers its future occupants, and the city, a high standard in sustainability. Added to its proximity to the light rail will make this an attractive place to live, stay, shop and play.”

With the completion of The Oracle building earlier this year and with Hilton and Soul approaching the end of construction, Council view the commencement of work on the site as a priority to the local construction industry and economy as a whole.

Artist's Impression of Main Place Development

Despite announcing last October that a start date for redevelopment of the shopping centre was imminent, owner AMP Capital have admitted that the process is no further along.  A spokeman for the company told the Gold Coast Bulletin

“At this stage, there is no definite start date for onsite construction at Pacific Fair as we continue with planning, design and a range of negotiations. As with many in property development, the global financial crisis did impact our plans for our shopping centre portfolio, and we spent this time preparing for Pacific Fair’s development as well as a number of others.”

It is believed that negotiations between Gold Coast City Council and AMP Capital surrounding infrastructure charges are one factor behind the delay.

In 2009, when the TPG Underwater Cable between Sydney and Guam was completed, provision was made for the Gold Coast to be connected directly to the cable at a point off-shore from Burleigh Heads.  Recently, the Economic Development and Tourism Committee recommended Council undertake a feasibility study for connection to the fibre-optic link.

Direct connection would mean Gold Coast users could bypass the existing underground fibre-optic link to Sydney; this could reduce the cost of global data transmission for businesses, improve communication reliability and efficiency.  The move would also strengthen the Gold Coast’s attempts to be seen as a regional IT hub and to fast-track delivery of the National Broadband Network for the city.

Following the recent addition of a ferris wheel to the roof, the interior of the (1989 built) Gold Coast Transit Centre in Surfers Paradise is about to undergo a $1.8m revamp.  The facelift will be targeting food retail and alfresco dining operators to set up in the centre and should be completed by November this year.

With just over one third of the $9m required for a proposed redevelopment of Surfers Paradise’s iconic Cavill Mall already allocated, the draft plan for the redevelopment has gone on display.

Designed to ‘de-clutter’ the space, the redevelompent makes provision for dynamic coloured LED lighting, raised busking platforms and more shade trees.  The need for the upgrade has been almost universally accepted already, as the space is beginning to look tired – especially compared to the freshly upgraded foreshore and new Soul commercial space.

Surfers Paradise Councillor Susie Douglas is hoping that the remaning funding will be allocated in this years’ budget.

With Council’s Economic Development and Tourism Committee allocating a further $1.54m to a proposed revamp to the Cavill Avenue Mall in Surfers Paradise, the revamp is now another step closer.  The timing couldn’t be better, with the Surfers Paradise Foreshore Redevelopment approaching completion.

Committe chair, and Surfers Paradise councillor Susie Douglas has stated that:

“The Committee recommended Council enter into negotiations with the Foreshore redevelopment managing contractor, Abi Group, to get the mall project underway as soon as possible.

“As part of a second stimulus package, Council set aside an initial $2 million and considerable work has now been done, including consultation with key external stakeholders, to develop a comprehensive management plan and delivery strategy for the project.”

With strong population growth, and on the back of the recent 2018 Commonwealth Games bid, the Gold Coast City Council has launched a feasibility study into the creation of a major annual cultural festival.   While results won’t be back until late this year, Mayor Ron Clarke feels that “Culture and the arts play a significant part in making the Gold Coast a more desirable place to live and to visit, and a major festival could also deliver a boost to the city’s economy” – regardless of the success of the Games bid.

Despite some public opposition, Council’s planning committee has signed off on Potter Group’s 52-storey redevelopment of Broadbeach’s Main Place.  The current plans include 173 resort hotel suites, 320 apartments, nearly 1800sqm of shops and restaurants and 2346sq m of commercial floorspace – however local councillor Eddy Saroff is lobbying to have the hotel portion of the building reduced in size.

The extent of this reduction could threaten the viability of the project, the construction of which is expected to add nearly 800 jobs and over $700m to the local economy.

Council has signed off on a new 45-storey tower for Scarborough St in Southport.  The new building, Iridium, will be built by Ingles Group and will include over 330 apartments, as well as commercial, retail and cafe space.  The building will be built near the future light rail station, and next door to the existing Little Theatre.  As part of the renewal, the developer will assist with redevelopment of the theatre’s green room and box office.