Luxury Sunshine Coast apartment nets owner $1.1m profit in one year
A waterfront apartment has smashed suburb records with a $6.1 million sale that delivered owners an extraordinary profit in just one year.
A million-dollar sale for an award-winning apartment has set a new record in a major Sunshine Coast suburb, beaten only by a penthouse in the same complex.
The 328sq m Lorient residence at 401/88 Duporth Ave has set a record as the highest price ever paid for a half-floor apartment in Maroochydore and highest price per square metre on the street.
The apartment was sold off market for $6.1m by Ray White Maroochydore agent Ari Whisson.
At the time of signing the contract, it broke suburb records excluding off-the-plan transactions, Mr Whisson said.
The sale is only exceeded by a penthouse in the same building which sold for $9m.
The apartment, situated on level four, has three ensuite bedrooms, two living rooms, a study nook and private balconies featuring views of the Maroochy River.
The apartment offering was shown to one buyer only, proving the importance of relationships and trust at this price point, Mr Whisson said.
It was sold to a Sunshine Coast family who previously owned a smaller apartment and had their eyes specifically on the Lorient building.
The half-floor apartment was sold just one year earlier for $5m, a $1.1m increase in value.
Mr Whisson said this reflected a “maturing luxury market” on the Sunshine Coast.
“Right now slightly more owners are considering selling, which gives buyers slightly more choice,” Mr Whisson said.
“They no longer have the same fear of missing out and they are far less willing to compromise.
“When they see the right residence they know it will be competitive and that they will need to pay to secure it.“
Mr Whisson noted a surge in Sunshine Coast owners looking to upgrade while remaining in the region.
“Our recent sales at $6.1m and $9m, along with another at $5.1m earlier in the year, have all come from owners on these same streets,” she said.
Mr Whisson said there were very few true riverfront homes left, and those from reputable developers were irreplaceable.
“Lorient has only 15 apartments and most will never come up for sale, so when one does it is extremely sought after,” she said.
In Mooloolaba, a two-storey penthouse has been listed for sale for the first time since 2010.
The 440sq m residence in Kareelah at 6/49-51 River Esplanade, Mooloolaba is one of only six homes in the riverfront complex.
The penthouse has been held by the same family for more than 15 years and has now hit the open market.
Amber Werchon Property principal Amber Werchon said large waterfront homes of this scale rarely changed hands.
“What truly sets this penthouse property apart is the 180-degree views, generous size and the history of the residence as a private coastal escape,” she said.
“Opportunities to acquire such a property are genuinely once in a generation.”
Ms Werchon said her agency had already received inquiries from downsizers, business owners and Brisbane and interstate buyers.
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