Property developer Kevin Seymour reveals grand Noosa plans

Kevin Seymour is building an ‘iconic’ resort-style residence in the exclusive beachside town after paying a record $15.5m for the land.

Prominent developer Kevin Seymour dropped $15.5 million for a block of land in Noosa. Picture: Jamie Hanson

Veteran property developer Kevin Seymour has revealed plans to build an “iconic” resort-style residence in Noosa with no expense spared on the $15.5m block he purchased this year.

The Brisbane-based founder of Seymour Group had been eyeing off the 1120sq m site on Noosa Parade in Noosa Sound for years and was finally able to secure the property in what has turned out to be one of the region’s biggest deals of the financial year.

The 82-year-old has been scaling back his role in the family business in recent years and is now looking forward to more time to himself alongside wife Kay.

“We’ve always had a significant stake in Noosa and I can’t think of a better location for semi-retirement and have the best of both worlds,” Mr Seymour told The Weekend Australian.

“We want to create an entry statement piece going into Noosa.”

Richlister Kevin Seymour is looking to build a statement home on the lot.

Early plans have been drawn up for the project, which will have a relaxed beach feel reminiscent of Hawaii in an Australian context. Luxury elements such as resort-style pools, an underground garage with enough space for 10 cars and a caretaker’s cottage are all part of the initial concept.

“It is inspired as a resort home with the feel of Hawaii,” Mr Seymour said. “It’s not necessarily (a slice of a getaway here), but it will sort of fit in with what Noosa is all about – not island living but beach, casual.

“We have free-flowing and casual plans where you can feel you are at the beach in a seaside ­location with all the attributes.”

Given the pressure southeast Queensland building industry is under from the latest boom, it is difficult to put a dollar figure on how much the grand home will cost, but Mr Seymour acknowledged it would be substantial.

He had wanted to start straight away but it is likely construction will take two to three years.

Instead, the Seymours will focus on renovating the home of their daughter Leigh, who purchased across the street from the Noosa site. Once the $3m update is complete, they will begin the larger project.

Resort style living is on the agenda.

The Sunshine Coast experienced some of the biggest price growth in Australia during the recent property boom, with a handful of suburbs rising in excess of 40 per cent since the onset of the pandemic.

Some of these include Sunshine Beach (up 94 per cent), Sunrise Beach (up 91 per cent), Noosa Heads (up 72 per cent) and Noosaville (up 65 per cent).

Buyer hesitancy has now begun to seep into the market due to rising interest rates and predictions of price falls, but that has done little to quell appetite for luxury homes, with several big-ticket sales in excess of $5m being made in recent weeks.

Prestige agent Tom Offermann, principal of Tom ­Offermann Real Estate, said the Noosa market would start the upcoming financial year in good shape.

“The current economic circumstances are unique, so there is no history to rely on to predict the market ahead,” Mr Offermann said. “However, supply and ­demand are always reliable indicators.

“Demand remains at strong levels, and we know from our conversations every day there are a year’s worth of buyers who will move here when they finish working, sell their houses, or find school places for their children’s education, etc.

“Supply remains extremely tight with less than 1 per cent of properties on the market compared to 3-4 per cent in a normal balanced market.

“But owners not surprisingly are seriously reluctant to part with their Noosa asset knowing the difficulty of replacing it.”

Given the older demographic of Noosa and the generally lower levels of household debt held in the region, Reed and Co principal Adrian Reed believes that local buyers will be less exposed to interest rate rises.