Recent months have seen the completion of several key projects on the Gold Coast that marks a new wave of holiday apartments outside of Surfers Paradise. Qube Broadbeach, by Morris Property Group, is one of these projects and has made a big impact since its completion in January this year. To give buyers the insiders perspective, PropertyMash was given an exclusive tour of what awaits buyers in this newly completed development.
As we walked around, the views from the display suites definitely caught our eye and were quite impressive. We were shown not only the ocean view apartments as well as apartments with views of the city skyline and across the hinterland which was also quite picturesque. We could definitely picture ourselves lazing by the pool in the sunshine or enjoying a game of pool with friends, and with a range of apartment sizes and aspects, there’s something for everyone.
The position is one of the best in Broadbeach — directly across from the Gold Coast Convention Centre and a short walk to The Star Casino, Pacific Fair and Oracle Boulevard. With the light rail station at your doorstep, you have easy access to the best of what Gold Coast has to offer.
The resort-style facilities, location and apartments perfect for ‘right-sizers’ and make Qube a great apartment development to both live in and invest in. Since the cranes came down, Qube has been filled with both local owners and holiday rentals, with a limited number of apartments still available for purchase. Qube has a range of two-bedroom, two-bathroom apartments remaining from $609,900, as well as a few large three-bedroom apartments perfect for families.
While owner-occupiers have been dominating the Gold Coast property market for the last few years, Qube sees a more balanced distribution, with local investors also making a notable return. Qube Broadbeach has tapped into a strengthening local investor market that’s completely different to the traditional overseas investors drawn to the Gold Coast in years gone by. Capitalising on the opportunity to secure a high rental-return rate, it’s local and interstate buyers who make up the majority of investors at Qube. With the latest cuts to interest rates, new Gold Coast infrastructure and strong migration to the city, returns from Gold Coast property investment are peaking.
Head of Project Marketing for Qube developer Knight Frank, Chris Litfin says buyers at Qube can expect yields between five and six per cent gross. This high return rate indicates the ongoing strength of the Gold Coast market, which has long shed its boom or bust reputation to give rise to one of Queensland’s fastest growing areas.