Pelican Waters’ ‘Comino’ development hits major milestone on its second stage

A Sunshine Coast development offering buyers penthouse-appointed apartments has hit a major milestone in the construction of its second stage. SEE THE PICS

Comino Development, Queensland Henzell Group Source: Supplied

A Sunshine Coast development has reached a significant milestone amid statewide building challenges.

Luxury residential development The Cove at Pelican Waters has just had its basement completed on ‘Comino’, the project’s second stage, which is being delivered by Queensland commercial builder Evans Built, who have also nearly completed ‘Corsica’, the project’s first stage.

‘Comino’ features 40 penthouse-appointed apartments, all with north or east water views and xix levels of owner-occupier styled plans and sizes ranging in price from $1.4 million to $5.3 million ranging from 197sq m in size up to 511sq m for the grand penthouse.

A selected number of apartments will have access to the exclusive River Room lounge on the ground level with private liquor cabinets, a pool table and a deck overlooking the water.

Comino Development, Queensland Henzell Group Source: Supplied

The complex also includes private beach rooms and access to a north-facing resort pool, secured vehicle and pedestrian gate access with key fobs, intercom to units and security cameras located throughout.

Henzell Property Group managing director Mclean Henzell said the project has been tracking along well.

“We’ve had stage one, which is due for competition after Christmas, and we will be seeing the scaffolds start to come down in October,” Mr Henzell said.

“Having a trusted builder in Evans Built tied to the project has been a huge benefit as buyers know the quality of the product that will be delivered.

“There has been steady interest month on month, with 70% of purchases mainly from Pelican Waters and a flurry of buyers from New Zealand.

The basement of the 'Comino' stage of the project is a huge milestone for the developer.

“Now that the basement has been completed, buyers can see with their own eyes that the project is powering ahead. The excitement is starting to build.

“Our clients have been mostly retirees looking for a large apartment with high-end finishes, ample parking and storage.”

The construction of new apartment projects in South East Queensland has dropped by nearly 90% since the peak in 2015/16, marking the lowest levels in a decade.

The region is also experiencing the lowest apartment completions since 2010, with only 1,300 apartments completed in 2022, down from a peak of 11,000 in 2016.

Mr Henzell said the demand for premium residential apartments has remained despite constrained supply, as evidenced by the strong buyer interest in the Cove.

The 'Corsica' stage of The Cove project will be delivered just after Christmas this year.

“The transformation of the site from a greenfield site to an underway construction site has been rewarding,” he said.

“All of the time and effort we put into the project’s attention to detail makes me excited to see it all come to fruition.

“Although, I don’t think a developer has been immune to the building issues and shortages in the current market.

“We’ve had a builder solvency issue and delays on the first tower with weather, material and labour shortages.

“The silver lining is our next stage, ‘Promino’, is ahead of schedule.”

Mr Henzell also said he hopes the project will stand the test of time that people fight to buy into in the future.

“I think this project is going to bring a new standard of architecture to Pelican Waters,” he said

“The residence will enjoy house-sized apartments looking onto the marina, Morton Bay, Glass House Mountains and new amenities.”

Over the next four years, the $400 million development will be delivered in four stages.

Originally published as Pelican Waters’ ‘Comino’ development hits major milestone on its second stage