Sunshine Coast property: Sales records revealed for tightly held Minyama Island mansions

Homes are so tightly held in an elite neighbourhood that some owners have not sold since buying vacant blocks nearly 30 years ago. SEE WHAT THEY PAID

Property elites are itching to get a slice of an exclusive neighbourhood where long-term owners are resisting soaring prices for their pieces of paradise.

Sales are rare at Minyama Island, which is exclusive to multimillion-dollar properties and known as one of the Sunshine Coast’s most prestigious areas.

Elite Lifestyle Properties director Jordan Lund said his agency was always receiving inquiries from clients keen to buy.

But he said those who owned on the island rarely budged.

Property records show that of the 22 waterfront properties, only three have changed hands since 2018, with the most recent in February last year.

Three of the properties have not sold since the original purchase from Buddina Estates Pty Ltd in the 1990s.

Gary V Gear has held onto his property longer than anyone else since buying it for $600,000 in 1992.

Ex-husband-and-wife Olympians Grant Kenny and Lisa also still own a home in their name on a block they bought in 1994 for $425,000.

They are arguably the most well-known property owners on the island, which is also home to developers and successful businesspeople.

Mr Lund said Minyama Island had a deserved reputation of being one of the Sunshine Coast’s most prestigious areas.

“We constantly have inquiries from people wanting to get on the island and no one wants to leave which is understandable because it’s an amazing spot,” Mr Lund said.

Minyama Island is a riverfront enclave for multimillion-dollar properties.

“Everyone wants to be there but it’s a big price tag.”

His agency sold 12 Minyama Island for $6.96m last year after the former owners were ready to part with the property they owned for 20 years.

The former owners bought the vacant land in 2000 for $800,000 and then built a multi-award winning, architecturally designed five-bedroom home.

Mr Lund said his agency expected to settle on another Minyama Island sale next month and were also looking for a property for another client.

This Minyama Island home fetched $4.6 million in September 2018.

“We’d love to be able to do one a year but we’re not usually that lucky,” Mr Lund said.

“It’s never a quick process.

“It’s a very tightly held island and the homes don’t change hands often.

“The larger blocks and riverfront aspect make it quite a remarkable position, making it one of the most prestigious you can get on the Sunshine Coast.”