$2m-plus home builds planned for unique Cape Pallarenda estate

Some of Townsville’s best homes are being planned for a new Cape Pallarenda gated community.

Some of Townsville’s best architecturally designed homes with an average build cost of more than $2m each are expected for a unique estate being developed at Cape Pallarenda.

While one of a kind is a term often used loosely — especially in real estate, but the newly rebranded Ray White Townsville — previously Explore Property Townsville — says there is nothing else quite like Magnetic Views Estate.

Certainly, Ray White Townsville director Giovanni Spinelli says a gated community in that location, with phenomenal views out to Magnetic Island, is unlikely ever to be repeated.

The first buyers of lots are not revealing their design plans yet but Mr Spinelli said he expected the average build cost for homes would be over $2m.

The beautiful Pallarenda beach in front of the exclusive Magnetic Views Estate.

He said they would be limited to two storeys above ground level although depending on the particular lot and its position they could possibly be tiered for more levels.

The roadway through the Magnetic Views Estate at Cape Pallarenda.

A total of 13 lots have been developed over a more than 3ha site which was most recently used as a radio frequency monitoring station by the federal government’s communications authority before the land was controversially sold off in 2005.

The Entrance to the Magnetic Views Estate at Cape Pallarenda.

It lies amid a state government conservation park and was once also part of the former Cape Pallarenda Quarantine Station developed by the federal government in 1913.

Gold Coast developer Centurion Global is nearing completion of the estate, having formed a roadway and paths and connected home sites to services including water, sewerage and NBN connections.

Stone walls have been formed at the estate’s entrance. The gates are expected to be installed and road and walkway lights switched on shortly.

Eight lots, mostly around 2000sq m in size, have sold for prices averaging $930,000.

Mr Spinelli said they were getting exceptional interest for the remaining sites, particularly from local people.

“The higher end market is still buoyant — anything north of $750,000. They are the ones transacting quite well. We are still seeing market demand for that product,” Mr Spinelli said.

The picturesque and private gated estate is on elevated coastal land at 1 The Esplanade, Cape Pallarenda, only a short distance from the CBD, the airport and shopping centres.

Director of Centurion Global Mark Tonge said they were proud to bring the development to completion and looked forward to securing buyers for the remaining lots.

The first titles are expected to be released shortly with first home building likely to begin mid-year if not sooner.

Originally published as $2m-plus home builds planned for unique Cape Pallarenda estate