The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
3
print
Print
OtherRalph NicholsonThu 20 Apr 23

Holm Turns Shovel to Casuarina Apartment Project

Casuarina Beach Hero

The young and the old will meet a couple of blocks back from Casuarina Beach early next month when two joint venture partners break ground on a four-storey residential tower along the northern New South Wales coast.

Eighty-one-year-old John De Martini, the son of northern Italian immigrants, and 40-year-old builder-turned-developer Godfrey Esmonde are teaming up to build Pama Casuarina, a $30 million project delivering 47 apartments in the sought-after beachfront town.

In a clear sign of the town’s popularity, 34 of the apartments—or 73 per cent—have been sold and with construction slated for May 8, all of those have been pre-sales.

It is the second time Holm Developments and DeMartini Fletcher Property Development have worked together.  Most recently they completed the eight-apartment residential block known as V Clayfield, north of Brisbane.

“That project worked well,” said Holm founder and director Esmonde.  “And so we decided to do another one together.

An artist's impression of the Casuarina development
▲ The Casuarina apartment complex plans storage for surfboards.

“There's a bit of an age difference between us, but that gives us experience.  On John’s behalf it is a more tempered approach to things and for me there’s an enthusiasm and excitement for the stuff.”

The partners acquired the 4083-sq-m lot at 5 Grand Parade, Casuarina in November of 2021, paying $8.69 million.  Not long after, Azure Development Group paid nearly $21 million for the neighbouring 7354-sq-m parcel at 6 Grand Parade.

Esmonde says the partners have contracted Hutchinson Builders to undertake construction of the Plus Architecture design.  He concedes in builder and contractor-strapped south-east Queensland that can be challenging.

“Look, I think we involved [Hutchies] early in the process,” Esmonde said.

“And you know everyone wants a builder, but what Hutchies wants is certainty of a project. I can't speak for them, but they would have had a number of projects on the books that don't eventuate, especially on the Gold Coast.

“And I think it was attractive because they were aware of the strong financial position our project is in, that the sales were on the board, and that ANZ financing was there.”

An artist's impression of the development in Casuarina
▲ It is the second time Holm Developments and DeMartini Fletcher have worked together.

The mix of two, three and four-bedroom apartments are going for between $1 million and $3 million.  The 34 pre-sold apartments were all contracted in just 13 months.  Two were sold last week.

“A lot of them have been sold to people from the Gold Coast who just don't like the Gold Coast anymore,” said Esmonde.  

“Burleigh is not what it used to be, and the population of the Gold Coast has exploded.”

He pointed to stronger controls on density in northern New South Wales which he said was attractive to many buyers.

“That brings it back to what the southern Gold Coast used to be,” he said.

“The quieter end of town.”

ResidentialAustraliaConstructionConstructionSector
AUTHOR
Ralph Nicholson
More articles by this author
ADVERTISEMENT
TOP STORIES
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
Medium Density housing in NSW
Exclusive

NSW Budget ‘Groundbreaking’ $1bn Guarantee to Unlock Housing

Leon Della Bosca
7 Min
View All >
Genesis Street Frontage 3D Concrete Printed Duplex with Nick Holden
Technology

Australia’s First 3D-Printed Duplex Halves Build Times

Leon Della Bosca
A rendering of the three-storey apartment project Arca by Red & Co at Stafford near Brisbane.
Residential

‘Confident’ Red & Co Starts Work on Stafford Apartments

Marisa Wikramanayake
Lincoln Place Eagle Point Bowls Club and Clubhouse
Land Lease Communities

Lincoln Place Plots 209-Home Scheme on Gippsland Purchase

Leon Della Bosca
The lifestyle community provider has paid $8m for the Eagle Point site and plans to develop a 209-home precinct…
LATEST
Genesis Street Frontage 3D Concrete Printed Duplex with Nick Holden
Technology

Australia’s First 3D-Printed Duplex Halves Build Times

Leon Della Bosca
3 Min
A rendering of the three-storey apartment project Arca by Red & Co at Stafford near Brisbane.
Residential

‘Confident’ Red & Co Starts Work on Stafford Apartments

Marisa Wikramanayake
2 Min
Lincoln Place Eagle Point Bowls Club and Clubhouse
Land Lease Communities

Lincoln Place Plots 209-Home Scheme on Gippsland Purchase

Leon Della Bosca
3 Min
Lindfield SSD Resi EDM
Residential

North Shore $154m Apartment Play Tests Zoning Limits

Vanessa Croll
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/holm-demartini-pama-casuarina