Gold Coast development: $100m in sales at Sanctuary Cove ahead of Coomera Connector construction
More than $100 million in property has sold in a Gold Coast suburb in a short amount of time and the Coomera Connector has been named as the reason why. SEE THE BIG SALES >>>>>
Northern Gold Coast
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THE Gold Coast’s real estate boom has grown from units to houses, with homes worth more than $100m changing hands at Sanctuary Cove in a short amount of time.
Real estate figures are shocked by the “unprecedented” spike in interest at the 1980s Mike Gore-built resort community, which has seen some of the most expensive property sales recorded on the northern Gold Coast.
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Topping the charts were two $10m sales of waterfront properties, two $5m homes sold under the hammer and a $3.25m transaction for a vacant lot of land.
Ray White sales consultant Matt Gates attributed the strong sales to Sanctuary Cove’s location close to the planned $2 billion Coomera Connector.
“Sanctuary Cove has always been an aspirational destination, which is clearly a key drawcard for the interstate market seeking the idyllic waterfront lifestyle with high- end amenity at every turn,” he said.
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“The auction results alone are an unprecedented outcome as it’s incredibly rare for such high-end properties to sell under the hammer in Sanctuary Cove.
“Sanctuary Cove has a unique ability to appeal to an incredibly diverse range of buyers due to its convenient proximity to both the Gold Coast and Brisbane, bordering the proposed Coomera Connector, plus its immersion in a private and secure community atmosphere.
“Because of this, we have witnessed an influx of buyers from across the board, including the interstate sea-change seekers, and both upsizers and downsizers, all chasing their slice of premium quality living.”
Ray White Sanctuary Cove is now gearing up to list one of the most prestigious properties within the masterplanned community.
It is anticipated to hit the market with a value nearing the $20m mark.
Notable sales to date include $8.8m for 2102 The Circle, the $6.1m under-the-hammer sale of 7402 Marine Drive East, and the $5.2m sale of 5705 Anchorage Tce.
‘Uber-exclusive’: Luxury tower to rise over surf break
A SITE fronting one of the world’s most famous beaches will be transformed into the Gold Coast’s next luxury tower.
Developer Cru Collective, which last week completed construction of its $40 million Palm Beach project Siarn, has filed plans with council for an “uber-exclusive” 11-storey tower at Kirra.
Earmarked for a site at the intersection of Musgrave and Winston streets, the unnamed tower will feature 12 full-floor units overlooking Kirra Beach.
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Cru Collective managing director Chris Bolger said the project had been fast-tracked on the back of the city’s booming real estate market.
“We were extremely excited about the acquisition of this Kirra site given how scorching the southern Gold Coast market is at the moment,” he said.
“It’s one of the most sought-after locations for supremely luxury, private residences on the coast right now and we have no doubt our newest product will only amplify Kirra’s appeal.”
“Since we acquired the site in April we have received an astounding amount of interest in the product which spurred us to lodge the development application for what will be a striking addition to the Kirra beachfront.”
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Each of the units will have 280 sqm of living space, with a mix of three and four bedrooms.
The building will give over an entire floor to its “premium” lifestyle amenities including an oceanfront pool, fitness centre, infra-red sauna and cold plunge pool.
Mr Bolger said the project’s design had been changed to suit the market, with buyers primarily choosing low-density units in boutique mid-rise towers.
“We have worked extremely hard to ensure our product meets the expectation of the sophisticated buyer, reducing the volume of apartments and raising ceiling heights to deliver spacious living typically reserved for stand-alone houses,” he said.
The project will be considered by city leaders later this year.
GREEN LIGHT FOR MAJOR NEW UNIT DEVELOPMENT
GOLD Coast City Council has given the green light to a giant $125 million residential tower in the city’s north.
The eight-level Hope Island project from prolific developer Aniko Group will be immediately taken to the market, with a sales campaign to begin on July 1 to capitalise on the city’s development boom.
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It comes a handful of months after the developer sold out its neighbouring $140 million No. 1 Grant project.
Aniko boss George Mastrocostas said he anticipated strong sales after a new report by Urbis last week revealed there were few available units in the city’s north.
“The Sickle Ave site was an exceptional opportunity for us to bring our signature product to a market that is ablaze with demand for residences set on a waterfront position within the centre of Hope Island,” he said.
“We witnessed a phenomenal level of buyer interest the moment 1 Grant Ave hit the market.
“This spurred us to quickly react and offer a continued supply of luxury apartments to the rising demand of both interstate migrators as well as local downsizers.”
The unnamed Sickle Ave project was filed with the council in December 2020.
It will feature 185 luxury units, among them 16 three-bedroom “skyhomes” that will range from 170sq m to 260sq m.
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