Hunting for Mission Beach bargains as interest in Cassowary Coast grows
There is strong interest in offerings on the Cassowary Coast.
Far North Queensland agents reckon interest will be strong in the first tranche of Mission Beach residential and vacant land offerings about to hit the market, as the trend for city dwellers seeking a coastal bolthole continues unabated.
Mission Beach agents say the risk of collapse of investment house Mayfair 101, which had been buying up hundreds of residential and tourist properties, including Dunk Island, had not hurt the local residential market – rather it had drawn national attention to it.
As part of the sale of Mayfair 101 properties, receivers McGrath Nicol has listed six residential dwellings in Mission Beach, along with eight vacant lots through Ray White Mission Beach and Tropical Property via a staggered expressions-of-interest campaign.
McGrath Nicol is acting for senior lender Napla and has hired the agents to sell the property portfolio, with the agency looking to dispose of the 107 properties in tranches to avoid a fire sale in the sleepy tourist hamlet, which some liken to NSW’s iconic Byron Bay.
Of the six residential dwellings, 16 Reid Rd, Wongaling Beach, comprising a four-bedroom house on 809sq m of absolute beachfront is the standout property and is expected to fetch more than $1m.
Other offerings include 19 Donkin Lane, Mission Beach, on an 890sq m site. It is a cute little bungalow near the beachfront which could fetch about $400,000 in the tropical township just over two hours drive south of Cairns.
The three-bedroom property at 23 Mitchell Street, South Mission Beach, is an elevated pole home on 1012sq m with ocean and island views, but locals say it needs work.
One of the best homes is 2 Conch Street, Mission Beach, which could go for more than $700,000, while 13 Pacific Parade, a three-bedroom cottage with a modern kitchen on 809sq m, is in pristine condition and could fetch more than $1m.
The vacant lots on offer range from 607sq m with beach views to a 1133sq m site opposite the beach in Wongaling Beach.
No. 3 Nautilus St, Mission Beach, a cleared and level block, is positioned in the prestigious Puraboi Estate,
Ray White says COVID-19 has put a real focus on coastal areas in Queensland which offer an enviable lifestyle in a safe environment, two drawcards that will be incredibly appealing.
Local agent Steve Wiltshire, of Mission Beach Property, says the area is busy at the moment and is attracting a lot of inquiries from southern Queenslanders who knew nothing about Mission Beach before the problems associated with Mayfair 101.
“We are on the up and up due to the light shining on us with Mayfair, it has brought a lot of attention to us,” he said.
“There are people arriving from Southern Queensland, who have not realised Mission Beach existed.
“There is a change going on … there is such a giant amount of communication from Victoria and Sydney, so when they do get here we expect to be busy.
“Mission Beach has never relied on international tourism.
“We have always been very much local, whereas Port Douglas and Airlie Beach are suffering because they are international.”
Ray White Mission Beach principal Dick Williams said all of the properties were spectacular.
“In Mission Beach nothing is too far from the beach,” he said.
Tropical Property is being represented by Susie England.
Mayfair 101 is meanwhile battling to resuscitate plans to transform Mission Beach into a $1.5bn tourism mecca including revamping Dunk Island.
It was hit by the appointment of Grant Thornton in August and will face a court case in February which will decide its future.
Dunk Island is now back in the hands of the Bond family who as mortgagees in possession relisted the property on the open market earlier this week.
