The final piece of the puzzle in the renaissance of Hope Island on the northern Gold Coast – the Town Centre – looks set to become a reality.
In the midst of a $500 million wave of new development activity in one of Queensland’s new development hotspots, a Development Application has been lodged with the Gold Coast City Council for an 18,700 square metre Town Centre that will become Hope Island’s CBD.
The Town Centre has been seen as the key for the future of Hope Island for more than a decade but was delayed because of the GFC. When it becomes a reality, it will give Hope Island its beating heart – a commercial and retail centre that complements the wonderful lifestyle precinct that has evolved over the last 30 years.
The new proposed Town Centre comprises two supermarkets, a small department store, specialty retail, offices and food outlets on a prominent site next to the Hope Island Tavern.
The DA has been lodged with Gold Coast City Council by receivers and managers for Fish Developments (Hope Island) Pty Ltd. It is understood one of the “Big Two” supermarket chains is already involved. They are acutely aware of the upside heading Hope Island’s way and are keen to stake a claim in the area given the new wave of development activity taking place.
The Town Centre will provide a major boost to the developments already underway at Hope Island and may provide added impetus to other developers considering projects within the dress circle suburb.
Hope Island has emerged as one of Australia’s leading lifestyle precincts. The Hope Island story began with the creation of what remains Australia’s premier masterplanned community, Sanctuary Cove in the late 1980s. Hope Island Resort followed and the subsequent growth and development of the island saw the creation of residential communities such as Monterey Keys and Oyster Cove.
The early 2000s saw the creation of the Hope Island Canal which is probably the last man-made canal to be developed on the Gold Coast. The new Town Centre is located at the heart of this area where major development communities are sprouting up as the property market continues to improve and as development activity on the Gold Coast moves northward toward Brisbane.
Residential projects currently underway at Hope Island include the $60 million Vision by Halcyon over 50’s community, the boutique land offering Aqua North, the $266 million Cova masterplanned community by Australand, the listed Sunland Group’s $18 million The Quays townhouse project and the $50 million North Point land estate.
All of these projects are selling well.
Sanctuary Cove is also gathering momentum with new demand for waterfront, golf course and other residential land within its community. Sanctuary Cove is set to embark on one of its biggest civil works program to accommodate this new residential demand.
In addition, Hong Kong-based Golden Horse Group has signalled plans for a 400-room hotel and 23 luxury homes after acquiring the major shareholding of Links Hope Island golf community last year.
Malaysia-based Sime Darby, owner of the established Oyster Cove community, will complete the final stage of the project to be known as Serenity Cove, which will include townhouse, apartment, house and land product as well as a hotel and commercial village.
Richope Pty Ltd, associated with development identity Rick Sheida, has appointed McGrath Projects to market its $100 million Anchorage Apartments, comprising 228 waterfront units, which is also set to be launched this year. The project lines the Hope Island Canal and is only 300 metres from the Broadwater.
If approved, the Hope Island Town Centre will be accessed via two entrances on Marina Quays Boulevard and will provide extensive outdoor and basement car parking.
Despite the difficulties that some developers faced during the GFC, which unfairly tainted the reputation of Hope Island, the precinct is arguably one of the most unique in Australia – offering direct deepwater boating access to The Broadwater and surrounded by three world championship golf courses and the world class Sanctuary Cove Resort.
Clearly the Hope Island renaissance is underway.