Steve Cole’s Cabana Apartments on Memorial Ave Cotton Tree sold in two days

Six luxury, full-floor apartments at a beachside location have already been snapped up by local buyers, with construction yet to start on the boutique project.

A six-unit luxury apartment development earmarked for a popular Sunshine Coast beachfront suburb has sold out in two days.

The plans for Cabana Apartments at Cotton Tree were recently approved by the Sunshine Coast Regional Council after the application was lodged back in December 2021.

Developer Steve Cole said he would be keeping two of the units, with the other four already sold off the plans for upwards of $2m each in just two days.

Mr Cole said he wasn’t expecting the units to sell as quickly as they did and said he hardly had to advertise the apartments which have all sold prior to construction starting.

Cabana Apartments on Memorial Ave, Cotton Tree.

“We had all locals who have bought them because of the size, they’re homes, they’re quite spacious,” Mr Cole told the Sunshine Coast Daily.

“The locals wanted to downsize from a house to a unit but still have space.”

Location was another major drawcard for buyers, with Cabana sitting a street back from the Maroochy River and the Cotton Tree Esplanade.

“We’re within walking distance to Cotton Tree and the Sunshine Plaza and it’s only 150m to the pool,” Mr Cole said.

Cabana Apartments on Memorial Ave, Cotton Tree.

Mr Cole said demolition had been finished but construction would be starting later this year with completion expected in 2023.

Each three-bedroom full-floor apartment will span across its own level with a generous 250sq m of living space.

Mr Cole said the bigger apartments were highly sought after in the area and the quick sale of the four units reflected that demand.

“You can’t really buy a house in Cotton Tree … they’re virtually penthouse units because of the size,” he said.

Steve Cole is the developer behind Cabana at Cotton Tree.

Mr Cole’s design team incorporated a contemporary exterior and interior which they said reflected the beach lifestyle.

Neutral colours as well as refined textures were used in the design to create “light-filled” apartments, with two living areas and a large covered balcony in each unit.

The balcony space will include a built-in BBQ along with a designer kitchen inside complete with state-of-the-art appliances and a butler’s pantry.

Each apartment will come with private lift entry, dual secure parking and lockable storage.