Niramaya under way again
Final stage set to start constuction within the next few months, agent says
CONSTRUCTION on the final stage of Niramaya Villas at Port Douglas could start within months as house and land packages are tipped to hit $1 million.
The complex of pavilion-style villas, formerly known as Bale, has arguably had a chequered past after millionaire property developer Brian Ray was killed in a plane crash in 2005.
This was prior to the global financial crisis, which also stalled development.
Now, the resort is largely owned by interstate investors who holiday in Port Douglas in the winter and rent out their villas in the summer.
Exclusive sales agent for the third stage of development Caroline Yarr said 23 signature villas would be sold ‘‘off the plan’’ from May.
‘‘We’ll finally have some new stock in Port Douglas,’’ she said.
‘‘There hasn’t been anything (built) since 2007 but we’re back in a rising year now.
‘‘This will be great stock for us for the next couple of years.’’
Ms Yarr said the gated development was ideal for ‘‘lifestyle investors’’.
‘‘Port Douglas has always attracted well-off people from Victoria and Sydney. ‘‘The rich and famous come here.’’ House and land packages are expected to sell around the $1 million mark.
There is also access to an onsite spa, tennis court, fitness centre, sauna and restaurant which is popular for weddings and functions.
READY TO START: final stage of Niramaya