The Coomera Retreat Estate, located on the northern tip of the Gold Coast has been a consistent high performer for QM Properties.
“Our sales in 2014 are predicted to be almost 50 per cent up from last year,” said QM Sales Manager, Damien Ross. “In 2013 we sold 70 lots, and 2014 is set to see us selling 100 lots.”
This high sales rate has been complimented by the new Plantation Homes display at Coomera.
“Manhattan Q1 design is a low set 31sq m home with four bedrooms, double garage and butler’s pantry,” said Damien.
It is a tropical style home featuring natural timber trims and a rendered finish.
The home also features an impressive entry statement with oversized double swinging timber and glass doors.
Q1 is a home designed for entertaining families with the option to open out the kitchen, living and dining area for large gatherings.
The sliders can then be closed to create the private pods so home theatre and children’s retreat can be enjoyed in peace.
The gourmet kitchen has a deep island bench, a butler’s pantry and the latest sleek cabinetry and finishes.
“The four separate living areas in this four bedroom and bathroom home are a real plus for families,” said Damien. “Manhattan also has an 18 metre frontage so a large block is needed.”
“Our blocks at Coomera are 600 – 700sq m and are easy to build on with no slope, as we have done the hard work for buyers and included retaining walls,” he said. “The target market is families needing a home with space, and our estate is conveniently located half way between Brisbane and Surfers Paradise.”
“The big blocks have hilltop views to the hinterland and many of the other blocks have panoramic vistas of the Gold Coast skyline including Southport and Surfers Paradise,” he said.
“There are several elevated blocks, which give them great views,” said Damien. “We felt that these blocks were going to be highly sought after, however the slope may be a drawback to some buyers due to construction costs.”
QM then took the decision to build concrete sleeper retaining walls on the blocks to flatten the slope and add value.
“The walls add about $25,000 to the value of the land,” said Damien. “It also adds social value, as building retaining walls can cause neighbourhood disputes as people argue about the type of wall, the cost and so on.”
According to the RTA (Residential Tenancies Authority), fences and retaining walls are two of the biggest causes of neighbour discontent in Queensland.
Damien puts the success of the Coomera Retreat estate down to a combination of location, the covenant and the size and width of the blocks.
“Our location, mid way to the Gold Coast and Brisbane is a big selling point,” said Damien. “It is located next to the planned Coomera City Town Centre, close to the M1-access at Exit 54 and Coomera Rail Station.”
“The position, the infrastructure and the quality of the development are the key factors in a successful precinct,” said Damien. “Coomera Retreat is now at the lifecycle stage where buyers can see the quality and style of the area.”
Coomera has attracted 2nd and 3rd home buyers as well as second sales in the area, also a good indicator of the ‘health’ of a suburb.
When appealing to this demographic, the size of the home and construction budget is increased, which has a ‘knock on’ effect. Homes in Coomera Retreat are now 25-50 square metres in size.
“A drive around here just shows the master quality feel of the area, with well maintained homes and gardens,” said Damien.
QM also does not actively market to investors, with a covenant that is designed to attract owner / occupiers.
“The owner / occupier is statistically going to maintain their property to a high level,” he said.
Estates that encourage investment builds to attract tenants tend to result in smaller homes, more cheaply built and of the same ‘cookie cutter’ design to maximise profit.
“Coomera Retreat does not appeal to the investor market and buyers feel secure in resale value,” he said.
The covenant encourages owner occupiers, with the emphasis on quality homes in a quality neighbourhood.
“We want property owners who are keen to maintain their property and take pride in their property’s presentation,” said Damien. “This helps everybody’s resale values.”
Currently Coomera Retreat is well served already with infrastructure, opposite a new Woolworths Shopping Centre, which features a full range of specialty shops and a medical centre as well as a Masters Home Improvement.
Coomera Retreat is an infill subdivision nestled into the old part of town, which means that buyers are comfortable with the surrounding lifestyle and homes.
However, it has maintained a country style atmosphere despite its quick access to rail, road and local shopping centres.
”It is a pleasant, well kept area, with open parks and family BBQ areas,” said Damien.
“Our sales success here indicates we have ticked all the buyers’ boxes,” he said.