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1 April 2004
Varsity Lakes a Leader in Buoyant Gold Coast Property Market
The development of innovative high quality waterfront residential precincts and the continual evolution of business solutions has seen Varsity Lakes defy reports of a softening property market and attract strong sales demand, according to Delfin Lend Lease Project Director Carl Bruhn.
“Varsity Lakes, like the overall Gold Coast property market is still moving, and attracting consistently high levels of sales and enquiry for both its residential and business communities,” said Mr Bruhn.
“Since it began in late 1999 Varsity Lakes has proceeded to grow as an outstanding model of an integrated urban economic community, attracting residents and businesses seeking a smarter, more convenient lifestyle for today’s digital age,” he said.
In the heart of the community lies the rapidly growing business and innovation precinct Varsity Central.
The precinct has been designed to prosper local business through innovations such as world-class broadband data communication facilities, enabled through the Pacific Innovation Corridor.
Varsity Central is also home to Delfin Lend Lease’s first inner-urban village, The Quay on Varsity – a residential project that bucks the trend of monotonous architecture with individually styled frehold title homes and apartments surrounded on three sides by Lake Orr, the Gold Coast’s largest recreational lake.
There was strong demand for the freehold title homes launched last year with one townhome from Stage 1 reselling for a record price of $975,000. Stage 3 of The Quay is currently selling well at prices from $369,000 and construction of Stage 1 started in November 2003.
The March launch of the first apartments to be made available in The Quay, Bluepoint, was a resounding success with buyers already committing to 50 per cent of the waterfront homes.
The Quay’s Bluepoint apartments includes four separate, 3 storey high buildings, which house a total 44 apartments designed by Brisbane-based Planit Architects, and are located on the south eastern tip of The Quay overlooking Lake Orr and offer all apartments breathtaking water views. The apartments range in price from $439,000 to $790,000+.
Mr Bruhn said the first stages of The Quay freehold title homes sold well so it appears that the market is welcoming the village’s fresh perspective on medium density living.
“The Quay’s Bluepoint apartments have been even more popular because all apartments will enjoy water views, with the longest lake view over an amazing 600 metres,” said Mr Bruhn.
“An added bonus for residents of The Quay and Varsity Central businesses is the proximity to the upcoming $20 million retail and dining precinct, Market Square. Market Square, which will be completed in the second half of 2004, will boast 1,200 square metres of retail space and 29 residential units.
“Outside Varsity Central, Varsity Lakes offers some of the best waterfront living the Gold Coast has to offer.
“A crown jewel of the Varsity Lakes community is Azzurra Island. Set in the 80 hectare Lake Orr, Azzurra Island will feature waterfront recreation areas and lake front access never before seen in Gold Coast waterfront developments.
“When it was released in May 2003, Azzurra Island was the first premium island land offered on the central Gold Coast in many years.
“Pent up demand saw almost all stages sell out on the day of release. About half of the Azzurra Island lots have now been sold and the precinct is a hive of building activity with about 24 homes currently under construction or nearing completion,” he said.
Development of Varsity Lakes commenced in 1999 and upon completion in 2008 it will comprise 3,000 dwellings over 343 hectares. The community includes 20km of hike and bike trails and over 56 hectares of open space.
Recently awarded the Gold Coast City Council’s Urban Design Award for “Master Planned Community”, Varsity Lakes adjoins Bond University and is bounded by the 80 hectare Lake Orr and the 18 hole Championship Golf Course Robina Woods. It is located just two minutes from Robina Town Centre, five minutes from North Burleigh Beach and ten minutes from Pacific Fair.
Varsity Lakes is being developed by Delfin Lend Lease, Australia’s largest developer of master-planned communities with 20 projects across the country.
For more information contact:
Stuart Leo, Varsity Lakes (07) 5578 8833
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