Beach Street apartments, Merimbula, selling for an enormous price

Two apartment complexes yet to be built in a popular seaside town are already selling for high prices.

An artist look at 21 Beach Street, Merimbula's final design. Picture: Supplied.

Expensive, modern and large – two new beachside apartment blocks are on their way to a south coast town, with each unit selling for an enormous price.

Both 21 and 25 Beach Street in Merimbula will soon see construction of two three-storey apartment complexes, one housing 11 modern units and one with nine.

While the two apartments have not yet completed construction, most of the units have sold.

An artist look at 25 Beach Street, Merimbula's final design. Picture: Supplied.

The apartment located at 21 Beach Street has seen three deposits taken for $2 million, $1.3 million and $700 thousand, while the remaining units all sit over $1 million each.

The apartment located at 25 Beach Street has seen five apartments sold for $2.2 million, two for $1.9 million and four for more than $950 thousand.

Remaining units remain up for grab for more than $900 thousand.

The location of the two new buildings. Picture: Google Maps.

The new apartments come amid a housing shortage in the town.

According to Merimbula Business Chamber Chair, Nigel Ayling, multiple apartment developments are in place to deal with the housing crisis.

“We have one apartment building planned which will have 60 units and one with 50 units,” he said.

The 2021 census determined Merimbula’s current population to sit at 3000 people, with Mr Ayling saying new developments will assist with the growing population.

“We’re a growing town, so these developments are needed,” he said.

Another artist look at 21 Beach Street, Merimbula's final design. Picture: Supplied.

As for the Beach Street apartments, each building will be fit with one, two, or three-bedroom apartments, all housing modern kitchens, bathrooms and entertaining spaces.

Designed with the “idea of modern beach living,” each apartment will have a view of Boggy Creek leading out to the ocean.

Construction on each apartment is expected to be completed in 2024.