Gold Coast development: 800 people battle for 15 units in $50m Sanctuary Cove building
More than 800 people are jostling to secure 15 units at an “ultra luxury” Gold Coast development which will cost you between $2m and $8m to live in.
Business
Don't miss out on the headlines from Business. Followed categories will be added to My News.
MORE than 800 people are jostling to secure 15 units at an “ultra luxury” Sanctuary Cove development.
The first stage of Mulpha International’s $50m Harbour One project is on the market just four months after the building was unveiled. High-end properties will be priced from $2m to $8m for the four-bedroom penthouse.
Gold Coast development: $750m unit sales in six months despite fears of property market 'implosion'
Mulpha Sanctuary Cove sales general manager John Hughes said the company had been overwhelmed with inquiries.
“The incredible response we have received for these new residences has required us to think outside the box with Harbour One so that we can ensure an equal opportunity for all potential purchasers,” he said.
The project will ultimately have 48 units ranging from two to four bedrooms.
Because the land is governed by the Sanctuary Cove Act, passed in the mid-1980s, it is one of the last remaining developments in Australia that offers an exemption from Foreign Investment Review Board restrictions.
This allows overseas buyers to invest in vacant land without assessment.
FULL DIGITAL ACCESS: JUST $1 FOR FIRST 12 WEEKS
How big tech is recalibrating around the DeepSeek threat
Silicon Valley owes its longevity to its ability to pivot and China’s new AI start-up could set it moving in a new direction.
Court told lawyer lost $3m selling family home
An unregistered Gold Coast lawyer has told a court he lost more than $3m selling his family home because of the Global Financial Crisis. Read the latest from court.