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									                                                                                                       AUTUMN 2003 EDITION

                                                                        “Opportunities remain for discerning purchasers who expect the best in
                                                                        residential design, views, location – everything that makes a really special
APARTMENTS REMAIN!!                                                     apartment,” Mr Thurley said.

Construction of The Pinnacle’s 32-level main tower overlooking the      Featuring expansive views over the Nerang River, ocean and mountains,
Nerang River is now at the half way point with level 16 being poured    each sub-penthouse has 266sqm of floorspace, three bedrooms, wide
in the 3rd week of March.                                               live-on verandahs, two basement car parks, a storage area and its own
                                                                        marina berth as an optional extra.
Howard Group spokesman Dean Thurley says the tower’s super-
structure is due for completion in May 2003. A 28-berth marina          Interiors feature high grade fittings and finishes, including imported
which forms part of the development is due for completion by June.      European appliances, extensive use of granite and marble, and the
                                                                        inclusion of fully ducted air conditioning.
More than 600 new high rise and medium rise apartments – worth a
combined $350 million - have sold in southern Surfers Paradise during   Prices for the sub-penthouses range from $1.25 million to $1.4 million,
the past 18 months, easily topping any other area of the Gold Coast.    with the the penthouse at $2.5 million.

Apartment buyers have strongly endorsed The Pinnacle, snapping up all            At the base of the tower, the River House offers a wide expanse
but 7 of its 76 apartments so far.                                                of Main River frontage, 514sqm or 55 squares of waterfront
                                                                                  living, 180-degree water views to the north, south and west,
A feature of the develpoment are it’s exclusive riverfront
                                                                                  and the marina at the backdoor. Price is $1.75 million.
sub-penthouses which occupy an entire floor each and feature
luxury finishes and optional marine berths.                                       The Pinnacle also features a range of leisure facilities, including
                                                                                  the marina, a private cinema, club amenities, sauna, spa,
“The remaining sub-penthouses start at approximately $4500
                                                                                  gymnasium, tennis court, large heated pool and extensive
per sqm, which is substantially less than what purchasers are
                                                                                  riverfront boardwalk.
paying for standard apartments in most new buildings now
coming on to the market.”

The 7 remaining apartments comprise 5 sub-penthouses
– each one-per-floor – together with a two-level
penthouse and a two-storey “River House”
on the banks of the Nerang River.
                                                                                                                AUTUMN 2003 EDITION

PEOPLE OF THE PINNACLE                                                             VOGUE ON BROADBEACH
DR REZA SAMVAT                                                                                                          Lovers of the luxurious
                                       For Adelaide couple Dr Reza and                                                  beachfront lifestyle Vogue on
                                       Sepi Samvat – it’s all about lifestyle.                                          Broadbeach is set to offer have
                                                                                                                        responded strongly with only
                                       The couple, who currently reside in
                                                                                                                        three tower apartments and
                                       Henley Beach, decided that after 12
                                                                                                                        one beach house remaining
                                       years of living in Adelaide it was time
                                                                                                                        for sale.
                                       to try somewhere new.
                                                                                                                        The strong response indicates
                                       Dr Samvat said he frequently visited
                                                                                                                        the shor tage of premium
                                       the Gold Coast for seminars and
                                                                                                                        quality developments in prime
                                       conferences and grew to love the city.
                                                                                                                        locations on The Gold Coast
“The Gold Coast has so much to offer and the lifestyle benefits far exceed                                              and the strength of the market
other cities which is why we chose to relocate here,” said Reza, a corporate                                            in the post $2 million price
health consultant.                                                                                                      bracket.
While vacationing on the Gold Coast, the Samvats were searching for
                                                                                   From their massive one per floor apartments residents at Vogue On
an investment property when they met real estate agent Chris Boshoff.
                                                                                   Broadbeach will enjoy expansive beach and ocean views, highest
“Chris’ professionalism impressed us and after finding and purchasing an           grade finishes and fittings, complete security and ease of access to all
investment property we asked him to help us find a property for                    the emerging cosmopolitan cafe precinct of Broadbeach has to offer.
ourselves, with one condition – it must be near the beach,” he said.
                                                                                   Construction of the tower and beach house superstructures is
“He suggested we look at the Pinnacle and after visiting the sales office,
                                                                                   almost complete with internal fitting out well under way. Settlement
it didn’t take us long to decide to go ahead and purchase one of the
subpenthouses.                                                                     is due in August this year. Remaining apartments and beach house
                                                                                   prices start at $1.5 million.
“The fact that each subpenthouse occupies an entire floor appealed to us.
Plus, we have fantastic views of the beach, the river and Surfers Paradise.”

Reza said the Pinnacle fulfilled all the criteria they had for apartment living.      CONVENTION CENTRE
“The Pinnacle is close to the beach and restaurants and offers top-class              STEAMS AHEAD
facilities,” he said.

“We were also impressed with the service and cooperation we received
from the Howard Group with modifications we wanted made to our
apartment – in fact, it is the best service I have received in all the years
I have lived in Australia.”

Dr Samvat is currently launching Snoring and Sleep Apnoea clinics
nationally with plans to open a clinic on the Gold Coast next year.
He has also written a book titled ‘Snoring’ which will be published
this year.
                                                                                      Work is steaming ahead on the Gold Coast Convention
                                                                                      centre, one of the Gold Coast’s biggest construction sites.

                                                                                      Developer Jupiters Ltd wants to double its existing 3000
                                                                                      square metres of exhibition space to 6000sqm to cash in on
                                                                                      demand already coming from convention organizers.

                                                                                      Jupiters has land available for the expansion at the northern
                                                                                      end of the site near Cascade Gardens.

                                                                                      The convention centre will open some time next year and
                                                                                      Jupiters has already been swamped with early bookings for
                                                                                      major conventions, some with up to 2000 delegates.
                                                                                                               AUTUMN 2003 EDITION

                              COUNCILLOR MAX CHRISTMAS
                              DIVISION 7 - SURFERS PARADISE
                                                                                            SMART MONEY
                           The past 2 years have seen an unprecedented             A DIFFERENT APPROACH TO ASSET OWNERSHIP?
                           change in the City, which can only be summed up                     BY ANDREW HARRIS
                           as “maturing”. The days of beach, sun and surf
                           holiday centre as a total concept of the City has      For most Australian’s, their dream is still to own the family home
changed to incorporate a much bigger, brighter thriving tourist centre            and one day sell it, to make a large tax free capital gain. Most of us
incorporating education, a successful boat building industry with two of
                                                                                  see this as a sound investment strategy and a way of accumulating
Australia’s largest boat building organization in the Coomera River as well
                                                                                  tax-free wealth to add to our diminishing superannuation
an urban sprawl of residential life style living.
With improved air traffic from the southern states to Coolangatta airport
and the rediscovery of the City by residents of Brisbane since the inception      Unfortunately, this strategy may not be soundly based and may
of the M1 Freeway, who had, for the previous 15 years favoured the                well lead to a net reduction in a persons overall wealth position.
Sunshine Coast. The City is drawing 5 million visitors per year and the
                                                                                  You may ask why, when there is no tax to pay on the profit. Well,
compliments about the cleanliness, maintenance of the parks and the safety
of our patrolled beaches is better than any other regional city in Australia.     the answer is quite simple and it depends on two major factors.
                                                                                  The first is no doubt the increment in the capital value of the
The KPMG economic report which came out in December 2002 identifies
all of these points and the true size of the permanent population to be           home. The second, is the level of holdings costs, especially
around 475,000, with a further 90,000 visitors using the facilities of the area   interest that is being incurred.
at any given time. These figures are a lot different from the Government
figures of 18 months ago, indicating a permanent population of 360,000.           Let’s take the situation of a taxpayer who is on the top marginal tax
                                                                                  rate of 48.5% and has decided, because interest rates are so low,
There is no stopping this growth pattern continuing, as you cannot stop
                                                                                  to borrow the maximum amount of say 80% for purchase of an
people moving away from a higher cost of living in the southern states and
wanting to embrace our City’s prosperous lifestyle. Ours is the only City         $800,000 property. With a borrowing of $640,000 at 7%, this
in the Nation where the population is getting younger as the biggest influx       would equate to $44,800 of interest per annum.
of new settlers are families with children. Councillor Max Christmas
represents Surfers Paradise on the Gold Coast City Council.                       As this interest payment is non tax deductible (as are other holding
                                                                                  costs such as rates, repairs etc), our taxpayer must earn almost
 LEISURE & SPORTING GUIDE                                                         double this amount or $87,000 to pay this interest cost on an
                                                                                  after tax basis. Hence, it is this after tax cost that must be
 BOWLS CLUB                            Kurrawa Surf Club
 Broadbeach Bowls & Community Club     – Old Burleigh Rd, Broadbeach              compared to the likely increment in capital value of the property.
 – 169 Surf Pde, Broadbeach            Surfers Paradise Surf Club                 The property must therefore increase in value by at least this
 Surfers Paradise Sports Club          – Cnr The Esplanade &
 - 4 Ferny Ave, Surfers Paradise         Hanlon St, Surfers Paradise              amount for our taxpayer to be in the same financial position.
 MOVIES                                YACHT CLUB
                                       Southport Yacht Club                       Whilst this proposition may seem foreign to many and against the
 Pacific Fair – 12 Cinemas
 Mermaid – 5 Cinemas                   – Macarthur Pde, Main Beach                tenants of owning your own home, it does highlight
 SENIOR CITIZENS CLUB                  HEALTH & FITNESS CENTRES                   the complicated nature of property investment, where high
 Broadbeach Senior Citizens Centre     Zest Health Club – Surfers Paradise        borrowings are involved. However, there is a solution using
 – Cnr Gold Coast Hwy &                Healthworks
   T E Peters Dr, Broadbeach           – Oasis Shopping Centre, Broadbeach        appropriate financial and taxation structuring.
                                       Gold Coast Police Citizens Youth Club
 SHOPPING                              – Broadbeach Waters
 Chevron Renaissance Shopping Centre
                                                                                  Take the example of a Sub-Penthouse Unit at The Pinnacle. It is
 Paradise Centre                       GOLF – Public & Resort Courses             clear where an intending purchaser wishes to heavily gear this
 Oasis Shopping Centre
 Pacific Fair Shopping Centre          Royal Pines Resort - Ashmore               investment, that ownership as a principal residence needs to be
                                       Glades Golf & Spa – Robina
 SOCCER CLUB                           Palm Meadows – Carrara                     carefully assessed. The current property investment analysis
 Broadbeach United Soccer Club         Emerald Lakes Golf Club – Merrimac         shows that by structuring the purchase as a rental investment, that
                                       Hope Island Resort Golf Club
 – Chelsea Ave, Broadbeach
                                       – Hope Island                              a substantially increased return and net wealth position will result,
 SPORTS CLUBS AND FIELDS               The Palms Sanctuary Cove
                                       – Sanctuary Cove                           incurring additional tax deductions which may be offset against a
 Broadbeach Cycle Centre
 – 93 Surf Pde, Broadbeach                                                        taxpayers other income. Intending purchasers are advised to seek
                                       MEMBERSHIP COURSES
 Australian Soccer Academy                                                        independent advice in this respect, the Howard Group can
 – 15 Albert Ave. Broabeach            Southport Golf Club – Southport
                                       Grand Gold Club Ltd – Gilston              provide copies of this analysis.
 SURF LIFESAVING CLUBS                 Surfers Paradise Golf Club
 Northcliffe Surf Club                 – Clear Island Waters                      Andrew Harris is a Chartered Accountant and Proprietor of
 – Cnr Garfield Tce & Thornton St,     Gold Coast Burleigh Golf Club – Miami
   Surfers Paradise                    Arundel Hills Country Club – Arundel       Hargar Financial Services.
                                                                                                      AUTUMN 2003 EDITION

                                                                        IN BRIEF
    INTO KONICA                                                           THE PINNACLE - PREMIER FLOORS
    V8 SERIES                                                             • Main River frontage
                                                                          • Superior residential apartments in a range of layouts from
    Mark Howard, the man in the driver's seat at the Howard                 93sqm to 266sqm plus penthouse (425sqm) and riverhouse
    Group, is driving into another challenge by contesting two              (514sqm)
    cars in this year's Konica V8 Super Car series.                       • Two car spaces for all two and three bedroom apartments
                                                                          • 28 marina berths
    Mark has teamed with Tim Gordon for the national series and           • Private cinema
    has already shown positive early season form, with a 12th             • Club facilities/sauna, spa and gymnasium
    placing in round one at Goulburn and Tim finishing 21st.              • Tennis court
                                                                          • Large heated pool
    "We were very encouraged by the results. Hopefully we
                                                                          FOR MORE INFORMATION PHONE
    can continue to improve as the series progresses and be
                                                                          Leanne Calder 1800 088 288 or 0413 454 332
    competitive against such a strong field," says Mark.
                                                                          2898 Gold Coast Highway, SURFERS PARADISE (opposite the pink poodle)
    "We're really looking forward to the next few races."                 Display suite open 11am to 4pm Monday - Friday
                                                                          10:30am to 4:30pm Saturday and Sunday
    The series has had a big lift this year with Dick Johnson Racing,
    Stone Bros Racing, Brad Jones, Steve Ellery and HRT all
    fielding cars for the young drivers.                                  VOGUE ON BROADBEACH
    Round One will be televised on Channel 10 on March 16.                • A prized beachfront location
    Howard Racing has secured Baulderstone Hornibrook as                  • Panoramic ocean and beach views
    major sponsor, along with Weathered Howe, Blakes TV                   • One apartment per floor
    Rentals, Tile Corp, Steamline Interiors, South Coast Electrical,      • Superluxury residential apartments, typical floor 320sqm
    Pioneer Construction Materials, Specialised Concrete and              • Three palatial beach homes up to 547sqm
    Christopher West Contracting.                                         • The latest in design innovation
                                                                          • The very finest fittings and finishes
                                                                          • Minimum double car space and ample storage
✄                                                                         • Large heated swimming pool, spa, gymnasium, barbecue
                                                                            facilities and fully landscaped gardens with secured
Like to find out more about                                                 access to the beach
Howard Group developments?                                                • High-tech multimedia room in every apartment
                                                                          • State of the art security

CONTACT US TODAY!!                                                         FOR MORE INFORMATION PHONE
                                                                           Leanne Calder (07) 5531 5883 OR 0413 454 332
Name:                                                                      Display Suite Open Daily from 11am to 4pm Monday - Friday
                                                                           10am to 5pm Saturday and 1pm to 5pm Sunday

                                                                          CRESTWOOD PLAZA
                                                                          • Local shopping centre adjacent to Crestwood Heights
Email:                                                                    • Crestwood Heights one of northern Gold Coast’s
                                                                            largest residential subdivisions
Phone: +61 7 5592 4255 Fax: +61 7 5592 4131                               • Prominent exposure to Olsen Avenue, carrying
Post: PO Box 66 Surfers Paradise QLD 4217                                   3200 vehicles every hour in peak periods
                                                                          • More than 2500sqm of retail showroom outlets
                                                                          • Potential population catchment of 3000.
                                                                          Contact Mark Howard (07) 5592 4255

                                                                        For further information on the above projects visit

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