Off-the-plan buyers have snapped up 40 per cent of a $650 million development in the Gold Coast suburb of Helensvale, defying jitters about the impact of the coronavirus on the market.
The Serenity 4212 waterfront development launched by Brisbane-based Keylin and Kinstone racked up more than $30 million in sales following 1,200 inquiries over the last three months.
The masterplanned development has offered up housing lots, with reserve and waterview land as well as absolute waterfront land from prices ranging between $500,000 and $1,300,000.
The project is multi-staged and will also encompass retirement, retail and apartments in addition to townhouses, residential land and a marina.
Local MP David Crisafulli said the strong result was part of the unique attributes of the northern Gold Coast.
“If the outbreak of this pandemic has shown us anything it’s that people value their health and safety,” Crisafulli said.
“When you couple that with the fantastic lifestyle and job opportunities on the northern Gold Coast you have a recipe for investment success.”
Tony Ashwin, director of property marketing group Ashwin Property, said the result had not come as a surprise due to the critical shortage of land in the northern suburbs of the Gold Coast.
“There was some uncertainty about fielding enquiries during Covid-19, local buyers had been waiting a long time for the release of Serenity 4212,” Ashwin said.
“The developers did their research and knew of the limited waterfront availability in the area.”
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Further south, all 17 available residential subdivisions at Sherpa Property Group's Freedom Caba project at Cabarita Beach sold out in one day.
The project, located at Clothier’s Creek Road in Bogangar, included a variety of homesites priced from $550,000 brokered by CBRE Residential Gold Coast.
Sherpa Property Group managing director Christie Leet said the high demand and $11 million sell-out reflected the fact Freedom Caba was one of the last opportunities for buyers to purchase vacant land, off-the-plan in Cabarita.
“We anticipated there would be strong demand, but to put every lot under contract in a single day is a phenomenal result,” Leet said.
“It gives us the confidence and momentum to push ahead with our other projects.”
Off the back of the result, Sherpa is now preparing to launch a new $30 million, 16-home project at Rainbow Bay in the coming weeks.