The Gold Coast’s residential rental market is set for a revolutionary shake-up, with apartments and townhouses at the former Gold Coast 2018 Commonwealth Games Athletes’ Village to be offered up for long-term rent.
The $550 million development, which is now known as Smith Collective, features 18 apartment towers, 82 two-story townhouses and a 6280sqm retail hub.
In an Australian first, the Grocon and UBS Asset Management project will forgo individual landlords to allow residents to secure long term leases with all the perks of home ownership, such as hanging pictures, painting walls and having pets.
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UBS Asset Management Executive Director Michael Woodrow said the vision is to create a thriving community unlike anything the Gold Coast has seen.
“Research shows that while an increasing number of people want to live where they work, shop and play, they also yearn for the security of long-term leases and ability to add personal touches to their homes.
“By maintaining ownership of Smith Collective’s residential offering, we are able to grant those wishes and help our residents and retailers build a sense of community often lost within large-scale urban developments.”
Gold Coasters will be able to take a look around the new precinct from this weekend, with special events taking place on Friday night and during the day on Saturday.
Global real estate services company JLL has been appointed to manage the site, with Community & Marketing Manager Mel Kite saying there will be a number of events held over the coming months to give the community a chance to experience Smith Collective for the first time.
“On Friday 26 October we will be hosting Friday Night Bites followed by a Family Open Day on Saturday to celebrate the official unveiling of Smith Collective and allow locals, visitors and prospective residents to experience the look and feel of the development and its extensive offerings,” she said.
“Smith Collective will become an events and entertainment destination for the Gold Coast with regular food festivals, family fun days and live music events.
“This will be the first opportunity for the public to walk through the precinct and take a tour of the apartments and townhouses that will soon be available to rent.
“We will also roll out a series of events before the first residents move in, with more to emerge as the Smith Collective community grows and evolves in coming years.”
To be held on Friday October 26, the official public opening event will see the neighbourhood’s ‘Backyard’ come to life with live music, food trucks, workshops and kids activities, while prospective residents can enjoy viewings of the various rental options.
On Saturday October 27, families will once again be welcomed into the community to enjoy a range of entertainment and children’s activities including face painting, jumping castle, baby animal farm, magic show and live local music.
Internal works at The Smith Collective are due to be completed in December, with potential residents able to select from 532 one-bedroom, one-bathroom apartments – 172 of which are accessible – 637 two-bedroom, two-bathroom apartments and 82 townhouses featuring three bedrooms and three bathrooms, with prices starting from $380 per week.
The dwellings will be released in stages as the community grows, with a population of 2500 people expected once complete.
At the heart of Smith Collective will be a thriving retail and dining hub, with major supermarket chain Woolworths and retail giant BWS already securing tenancies.
Once open, the retail precinct will feature unique and boutique retailers from health and wellness services to homewares, while a curated dining precinct will line the main street and offer alfresco day and night dining options.
Applications are currently being sought for both residential and retail components, with the first residents and major retailers expected to start moving in from early 2019. To register your interest in joining the Smith Collective community visit smithcollective.com.au