Positioned within a leafy, slightly elevated residential enclave, 15 Koonwarra Street presents a premium development opportunity on a substantial 1,966m² landholding with two street access (Freeman Street), allowing flexibility to stage construction in two components, if desired.
The site benefits from an existing Development Approval for eight 2-storey villas, comprising:
1 x 4 bedroom, 3 bathroom + study
Double garage (side-by-side)
3 x 3 bedroom, 2 bathroom + study
Double garage (side-by-side)
4 x 3 bedroom, 2 bathroom
Double garage (side-by-side)
The approved mix provides strong diversity across the owner-occupier market, catering to families, downsizers and professional buyers seeking generous proportions without compromising on low-maintenance living.
Pre-market discussions indicate the current eight-villa approval may not fully maximise the site's potential, with market sentiment suggesting a revised yield of approximately 1012 three-level villas (STCA) could materially enhance overall feasibility.
Strategic Central Positioning:
Located in the heart of Labrador, the site enjoys immediate access to key lifestyle and infrastructure drivers:
-Proximity to Gold Coast University Hospital and Griffith University
-Minutes to Harbour Town Shops, Supermarkets & Premium Outlets
-Minutes to the Broadwater & Parklands
-Close to the vibrant café and village atmosphere of Chirn Park
-Easy access to the Gold Coast Light Rail (G:link)
-Direct connectivity to the M1 Motorway
This location underpins strong and consistent demand from medical professionals, academics, families and established owner-occupiers seeking quality, low-maintenance residences close to work and lifestyle amenities.
Market Context
There is a notable undersupply of new villa product in the central and northern Gold Coast market, particularly within the mid-$1 million price bracket.
Comparable luxury villa developments in Labrador have achieved $1.485m $1.6m. Another Labrador 44 villa estate currently under construction acheiving $1,354m. And near completed three-level product in nearby Runaway Bay being offered around $1.9m. High-spec developments in Bundall and Isle of Capri are achieving mid-$2 million price points.
This positions the approved scheme within a compelling and well-established buyer demand segment, located in a central Gold Coast pocket that has demonstrated strong growth (between 12-15% across units and houses) and is well placed for continued price appreciation due to its geographical location, local ammenities and employment opportunities nearby.
The area represents excellent relative value when compared with neighbouring suburbs, further strengthening its long-term appeal.
Key Highlights
-1,966m² site (survey available)
-Two street access
-Elevated, quiet residential position
-Existing DA for 8 spacious villas
-Potential yield uplift (STCA)
-Strong owner-occupier market depth
-Surrounded by established amenity and infrastructure
Disclaimer
All information provided is intended as a guide and has been sourced from third-party providers. Although we strive for accuracy, Republik Property Partners cannot guarantee the reliability of this information. Buyers are encouraged to conduct their own research and seek independent legal advice. Please note, property details and prices are subject to change.
