Kings Beach properties snapped up for millions

Two humble Caloundra homes in the same street have sold for impressive figures as future developments appear likely. Read what’s triggered the mega deals.

25 Mahia terrace Kings Beach.

A beachfront street in Kings Beach has experienced several high-figure sales in recent months as buyers snap up the last remaining undeveloped properties.

Two single-home blocks on Mahia Tce, Kings Beach, both recorded sales of more than $1.5m as development opportunities entice buyers to the prime positioned street.

Number 22 on Mahia Tce sold on May 17, 2023 for $1.52m, while the neighbouring 25 Mahia Tce sold more than a week later on May 29, 2023 for $2.175m.

22 Mahia Terrace Kings Beach sold in May for $1.52m.

The two-bedroom home currently located on 25 Mahia Tce sits on approximately 600sq m of prime Caloundra beachfront, just a 100m walk to the sand and five-minute stroll to the popular coastal boardwalk.

The 534sq m property at nearby 22 Mahia Tce currently consists of two flats with a total of five bedrooms and two bathrooms.

25 Mahia Terrace Kings Beach sold in May for $2.175m.

Both properties are currently zoned for high density residential projects, with 22 Mahia Tce zoned for buildings up to 21m and 25 Mahia Tce able to build to a height of 15m.

Real estate agent Natascha Drexel-Munro said the recent sale of 25 Mahia Tce in Kings Beach represented the last of single-dwellings homes to be snapped up in the area.

“(25 Mahia Tce) is one of the last, especially along the beachfront precinct,” Ms Drexel-Munro said.

“The opportunities are endless, the buyers have the option of renovating the existing dwelling or knocking down and building a forever home or redeveloping as the property is zoned with a 15 metre height limit.”

22 Mahia Terrace Kings Beach is one of the last remaining single-dwelling blocks on the street.

Ms Drexel-Munro said it is likely the remaining single-dwelling blocks in the Kings Beach beachfront area will be developed into units and apartments as the holiday destination gains more popularity.

“I think it is likely we will see these sites be developed into multi-unit dwellings,” Ms Drexel-Munro said.

“It will be great for the area in general and has the potential to add to the standard that is required in today’s market.

“(Developing) would add more accommodation that is required, as we are one of the fastest growing areas in the region.”