Construction has commenced on the dual tower second stage of the Aura Apartments development on the Gold Coast.
The second stage comprises two absolute lakefront towers, to be developed by Gold Coast based Alder Developments and constructed by sister company Alder Constructions.
The Alder Constructions team has already won several awards for quality projects including the Gold Coast Turf Club, Jupiters Casino Atrium Bar and Seachange Country Club at Carrara to name a few.
Alder Developments Managing Director Greg Alder says the early sales success of the new Aura Apartments can be attributed to the growth potential of the Varsity Lakes region, which continues to attract both local and interstate investors.
He says a recent report by consulting firm Urbis shows that Varsity Lakes has a higher rental yield than most capital city regions.
“Investors often look to capital city markets for a solid yield but Varsity Lakes’ yield of 5.5 per cent tops the average yield for Brisbane (4.8 per cent), Melbourne (4.1 per cent) and Sydney (3.8 per cent). It even trumps the wider Gold Coast market, which has an average yield of 5.3 per cent,” he said.
“The current Gold Coast vacancy rate of just 1.4 per cent is the city’s lowest in five years, with Varsity Lakes again ahead of the field with a vacancy rate of just 0.7 per cent, due to its position as a major employment, education and lifestyle hub.”
Mr Alder says rental returns and potential gains were not the only drawcard for purchasers, who were also impressed by Aura’s resort-style facilities and high quality fittings and finishes.
“The feedback we have had from purchasers and residents alike is that the amenities on offer exceed their expectations,” he said.
“Residents feel like they are on holiday every day with exclusive access to two pools, an outdoor spa, a gymnasium, sauna and teppanyaki grill. It’s quite unique to have all of these facilities in a boutique development of just 120 apartments.
“There’s also an expansive rooftop terrace atop each building, which provides vistas across Lake Orr to the hinterland, city skyline and ocean. This rooftop terrace is an additional outdoor entertainment space for residents, who also enjoy large private balconies of up to 37sqm adjoining the bedroom and living areas of their apartment.
“Every apartment in stage two is beautifully appointed with stacked sliding doors which are fully retractable leading onto the balcony, timber-look flooring to the living areas and stone benchtops in the kitchen, complete with quality stainless steel appliances.”
Mr Alder says there are limited apartments remaining in the second stage of Aura, giving investors and purchasers limited opportunity to secure a lakefront address in one of the Gold Coast’s most sough after suburbs.
“Aura Apartments is positioned at the heart of the Gold Coast and at the centre of the Varsity Lakes CBD, which is a highly desirable location with a smorgasbord of lifestyle and education amenities nearby, including Robina Town Centre, three schools, Bond University and numerous restaurants, parks and cafes just a short walk away,” he said.
“I know a number of purchasers have also chosen this area because it is still close to the beach and importantly it is within easy reach of Gold Coast Airport, which makes it easier for those who have family interstate or regularly travel for work.
“Our purchasers to date have been a mix of investors, young professionals, young families and downsizers looking for a spacious apartment with plenty of natural light, great views and , privacy as a result of having just four apartments per floor.
“A mix of two and three bedroom floorplans, ranging up to 154sqm are available priced from $399,000 in stage two, along with just a few apartments remaining in stage one which are complete and ready to move in to.”
Construction of the new Aura stage two is expected to be completed by late 2017.