📈 Today's Commercial Property & SMSF News
Gold Coast Dual-Tower Project Achieves $375M in Sales as Construction Completes
A dual-tower residential project on the Gold Coast, known as Lagoon by the Drew Group, has reached completion and achieved significant sales. The project, featuring over 250 coastal units, has sold 95% of its properties, generating $375 million in revenue. Recent sales include $20 million worth of homes sold in the last two months, with an average unit price of $3.725 million. Prices during the sales campaign ranged from $680,000 in 2022 to $7.5 million for premium penthouses. The development occupies the largest amalgamated site in Main Beach since the 1980s, achieved through negotiations with 37 individual owners to consolidate 4,000 sqm across 7 land blocks.
Source: www.news.com.au
End-of-Year Buyer Fatigue Creates Opportunities for Home Sellers
A downsizing couple in Hamilton successfully sold their home by capitalizing on the 'fatigue buyer' trend common at the end of the year. Initially listed with an estimated value of $4 million, the property failed to sell at auction. After engaging new agents who suggested a more realistic valuation of $3.5 million, the house sold within a week to buyers experiencing end-of-year fatigue. These buyers are often motivated to finalize a purchase before the new year, even if it means compromising on price.
Source: www.news.com.au
Woolworths Faces Scrutiny Over Affordable Housing Developments
Woolworths is under fire for allegedly leveraging affordable housing schemes to advance supermarket and luxury apartment projects. The company is reportedly planning at least ten developments nationwide, integrating supermarkets and residential complexes, as part of its expansion into the residential property market. In Victoria and New South Wales, Woolworths is using expedited approval pathways, bypassing local councils and applying directly to state governments. Some projects have faced opposition from councils and the Victorian Civil and Administrative Tribunal in the past.
Source: www.abc.net.au
📊 Yesterday's Key Developments
Central Coast Penthouse Smashes Price Records with $7M Sale
A penthouse on the Central Coast has achieved a record sale price of $7 million, significantly exceeding the median unit price in Gosford. The apartment, located in the Rumbalara Residences complex completed in April 2025, boasts panoramic views and high-end finishes. The buyer is reportedly an owner-occupier relocating to the area.
Source: www.realestate.com.au
Gold Coast Development Achieves Near-Complete Sales as Construction Concludes
A dual-tower residential project on the Gold Coast, named Lagoon by the Drew Group, has reached its construction peak, with 95% of its 250 units already sold, generating over $375 million in sales. The Main Beach development has seen recent sales of $20 million in the last two months. The project occupies a large site and features luxury coastal apartments, with prices ranging from $680,000 to $7.5 million.
Source: www.realestate.com.au
Adjusting Expectations Key to Selling Homes in Changing Market
A couple in Hamilton found success in selling their home after adjusting their price expectations, highlighting a trend of 'fatigue buyers' at the end of the year. Initially, agents estimated the property's value at $4 million, but after failing to sell at auction, new agents suggested a lower price of $3.5 million. The house sold quickly after the adjustment, illustrating the importance of realistic pricing in the current market.
Source: www.realestate.com.au
Luxury Penthouse Smashes Price Records on the Central Coast
A luxury penthouse on the Central Coast has broken local price records, selling for over 12 times the average home price in the area. Other notable real estate news includes the listing of Sir Russell Drysdale's former home and Kyle Sandilands' purchase of a holiday home near Albo's clifftop property. Also featured is a unique dome-shaped house nicknamed "the igloo."
Source: www.realestate.com.au
Adelaide Luxury Homes Attract Buyers with Bold Wallpaper
Luxury homes in Adelaide are using opulent wallpaper to attract buyers. One real estate agent noted that bold choices often receive the most positive feedback. A city penthouse listed by Toop+Toop features a dramatic entry with 'Menagerie of Extinct Animals' wallpaper. The vendors, former PR consultants, styled the home with this eclectic design.
Source: www.realestate.com.au
Auric Mining Achieves $10.8M Profit from Initial Gold Mining in WA
Auric Mining has generated $16.85 million in gold sales and secured $10.82 million in profit from its Munda gold mine near Widgiemooltha. The initial mining campaign processed 57,900 tonnes of ore at Black Cat Syndicate’s Lakewood Mill in Kalgoorlie, yielding 2718 ounces of gold. The processed ore had a head grade of 1.61 grams per tonne, with a mill recovery rate of 90.67 per cent, and Auric sold the gold at an average of $6200 per ounce.
Source: www.smh.com.au
Zenith Minerals Identifies Promising Gold Zones in WA
Zenith Minerals has confirmed broad zones of gold at its Consolidated Dulcie project in Western Australia's Southern Cross–Forrestania belt. The company is conducting a drilling program of up to 12,000 metres across a 6-kilometre mineralised corridor, with the goal of expanding the project's existing 302,000-ounce resource base. The drilling aims to add to Zenith’s exploration target of 300,000 to 800,000 ounces.
Source: www.smh.com.au
Larvotto Secures Option on Historic Copper Mine in Queensland
Larvotto Resources has obtained an exclusive option to acquire the Blockade mine, a copper operation located within its Mt Isa tenements in northwest Queensland. The Blockade mining lease, situated 41 kilometres east-northeast of Mount Isa, initially supplied silica flux to the Mt Isa Smelter in the early 1900s. Later, high-grade copper ore was extracted from a shallow oxide pit by Mt Isa Mines in the 1980s.
Source: www.smh.com.au
WACA Seeks Rates Exemption for Redeveloped Ground
The Western Australian Cricket Association (WACA) has requested a 10-year rates exemption from the City of Perth, estimated at $2.5 million, as its $184 million redevelopment nears completion. While acknowledging the redevelopment's challenges, the City of Perth has offered limited concession rates for the next three years, totaling approximately $350,000. The city highlights that the WACA has already benefited from $1.9 million in rates concessions over the past decade, granted by various state government ministers.
Source: www.businessnews.com.au
Businesses Must Register SMS Sender IDs to Combat Scams
The Australian Communications and Media Authority (ACMA) is requiring businesses using SMS messages to register their sender IDs by July 1 of next year. This initiative aims to enhance consumer trust by ensuring that text messages from registered sender IDs are reliably delivered with that ID. Organizations using branded identifiers are urged to register immediately with their telco provider to take advantage of the new protections against scams.
Source: www.abc.net.au
WA Children Face Heightened Risk of Domestic Violence During Christmas Period
A concerning trend in Western Australia reveals a surge in family and domestic violence incidents during the Christmas holiday season. WA Police responded to over 42,000 incidents in the past year. Financial strain and increased emotional stress contribute to a heightened risk for children, making their own homes potentially dangerous during this period.
Source: www.businessnews.com.au
Published: Tuesday 02 December 2025 | Fresh Articles: 31 | Sections: 14 | RunID: 2025-12-02T08:10:48+11:00
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