Labrador - Gold Coast

[tonyc00]

Gold Coast Labrador - a possible "hot spot", which we will no doubt read about in the monthly property magazines in the months ahead.

"One of the largest integrated tourism infrastructure projects in Queensland's history could be just weeks away from getting the green light.

The huge development would include 11 hotels, almost 7000 homes, six hectares of shops, four nightclubs and more than 20 restaurants. And, of course, a casino.

The revised plan, recently submitted to the state government, would create 5000 jobs during construction, 15,000 permanent jobs once operational, and inject $1 billion into the local economy each year for the next 20 years."

SMH Friday 21 November 2014, and further details + plans on the website.http://www.goldcoastevolution.com.au/2014/11/07/revised-master-plan-creates-new-gold-coast-paradise/

Regards

Tony

In the interests of full disclosure, I have just bought two great townhouses, (3 b/r, 2.5 bathrooms) in Labrador, at less than the listing price, and at great rental yield (and below what the previous owners had paid in 2006!!).

 

[Warren018]

I saw the article on domain.com.au as well.

It seemed the place is catering for the higher end business travellers. But I have a few reservations regarding this plan which looked great on the pictures.
1) There is only one single bridge connecting the development to the mainland. Whats going to happen if that breaks down, or if there is a flood warning.
2) Is the broadwater have enough depth to accommodate a cruise liner. If not, does not that means dredging need to occur regularly - and what is the environmental impact for those downstream.
3) The commonwealth game is going add alot of units to the market after completion. And now this. Although this is high end property, but given the situation of nearby developments like Soverign Island, I am fearful that this could be the same.

My impression is that this plan is too ambitious, and perhaps would not be approved.

 

[tonyc00]

Thanks for your comments.

I suspect that the Queensland Govt will want to make sure this development proceeds, even if it requires large sums of taxpayers money.

Particularly with the decline in mining (eg, coal, iron ore, etc) in the State, and the lack of tourism because in part of the high dollar, and the attraction (for Australians) in overseas destinations (eg Bali, Fiji etc).

The Mayor and the Council are supportive, and there is no doubt that it will boost new ongoing employment, promote local businesses, increase house prices, and provide support to a whole range of infrastructure currently being developed for the Commonwealth Games.

Together with the works for Commonwealth Games in 2018, it could be the stimulus needed for a recovery of the Gold Coast.

Any locals in the GC care to comment.

Regards

Tony

 

[mikezen]

Thanks for your comments.

I suspect that the Queensland Govt will want to make sure this development proceeds, even if it requires large sums of taxpayers money.

Particularly with the decline in mining (eg, coal, iron ore, etc) in the State, and the lack of tourism because in part of the high dollar, and the attraction (for Australians) in overseas destinations (eg Bali, Fiji etc).

The Mayor and the Council are supportive, and there is no doubt that it will boost new ongoing employment, promote local businesses, increase house prices, and provide support to a whole range of infrastructure currently being developed for the Commonwealth Games.

Together with the works for Commonwealth Games in 2018, it could be the stimulus needed for a recovery of the Gold Coast.

Any locals in the GC care to comment.

Regards

Tony

It will also destroy one of the most amazing surf breaks on the Gold Coast and no you cannot pick up a surf break and plonk it somewhere else, not to mention the on going damage it will create to the local marine environment.

There has been a high level of ongoing controversy surrounding this development for a reason

30000 people have opposed it

Do NOT support this development

https://m.youtube.com/watch?v=GahpPM0o8t0

 

[powderfingers]

It will also destroy one of the most amazing surf breaks on the Gold Coast and no you cannot pick up a surf break and plonk it somewhere else, not to mention the on going damage it will create to the local marine environment.

There has been a high level of ongoing controversy surrounding this development for a reason

30000 people have opposed it

Do NOT support this development

https://m.youtube.com/watch?v=GahpPM0o8t0

Couldn't agree more, the damage to the local marine environment will be catastrophic and I'll be there in person fighting it every inch of the way along with many others who will rise up against this farce

 

[tonyc00]

Many thanks for your comments/ observations. I'm not a resident, or a proponent of the development but I do note that, unfortunately, the development will proceed (in one form or another):

"The State Government and Gold Coast City Council have announced that they will invite the private sector to tender for what could be the largest piece of integrated tourism infrastructure in Queensland?s history.

The Broadwater Marine Project will include the delivery of a Cruise Ship Terminal on State Government-owned land on the Spit or in the Broadwater.

In addition to the terminal, when completed, the multi-billion dollar integrated tourism facility could include hotels, a casino, super yacht facility, retail development, restaurants, entertainment and hospitality venues, commercial and residential development, significant open community space and recreation facilities."

If I was looking for employment in the area, or a small (or large) business owner, or an IP owner, or heaven forbid, a State or local politician, then I would say yes to the development.

Regards

Tony