Port Douglas’ fortunes are climbing the hill
STRONG sales in the top of the Port Douglas housing market in the past six months reflect the renewed appreciation of the area’s attractiveness as well as more realistic price setting by vendors, says prestige property agent Barbara Wolveridge.
“If you look at property values in Port Douglas and surrounds compared with Sydney and Melbourne we are still very cheap for our high end luxury houses.
The days of the unrealistic vendor are a thing of the past. Our buyers are coming from Sydney, Melbourne and Brisbane because the prices are right and the homes are beautiful and you can see the value.
“There’s only way it can go, and that’s up,” Ms Wolveridge said.
Its an exciting period to be a high-end property agent, Ms Wolveridge who has 7 Wharf St in her listings, rock publicist Patti Mostyn’s near-new Glasshouse three-storey home on Flagstaff Hill, along with Eagles Nest at Rocky Point, and coming soon, the sleek Dune at the Sheraton Mirage estate.
Like several of the high end homes currently for sale, 7 Wharf St is a handy earner in times when the owners are absent.
The rental price for 7 Wharf Street is around $1800 a night. Rebecca Whyte from Boutique Collection who leases the property says if the owners didn’t use it so much she could rent it out a lot more. It is a very sought after property. Several weddings have been staged there as well. Rebecca says the “high end” rental properties are a buoyant market.
It is the much loved property of Melbourne real estate figure Michael Yates and wife Lou who bought the Caribbean-styled, three pavilion marvel about seven years ago.
Nearing retirement now, Mr Yates is looking to relocate to a small acreage property in the Riverina.
The Port Douglas house is one of the most picturesque in the region, and boasts private waterfrontage and 180-debree views of the Coral Sea.
The luxury home was inspired by the plantation-style British West Indies architecture and was designed by architect Alex Gencur.
It has five bedrooms, four bathrooms, and elegant finishes.
“The property is certainly spectacular and we have mainly done cosmetic alterations – painting, furnishings et cetera,” Mr Yates said.
“We have recently added a fifth bedroom with an ensuite bathroom and robes which has certainly enhanced the livability of the home.”
The sophisticated Dune also makes a good living in the holiday market. A according to agent Barbara Wolveridge this spacious and super stylish property already has many bookings for this season’ The five bedroom three lounge/ casual areas combined with the generous undercover outdoor BBQ area can easily host two families. It rents for around $3500 a night.
“There is a clientele of high net worth individuals who look at places like Port Douglas and want to stay in a home like this,” Ms Wolveridge said. “There are people in the marketplace around the world who are prepared to come to Port Douglas and pay that sort of money.
“It shows we are again the type of destination high net worth individuals want to make their holiday playground. And these are the type of houses they are looking for.
“But if somebody just wanted to buy it and live in it, it would make a great home.
Dune is on two blocks with absolute beach frontage – the last of its type in Port Douglas. Owned by Melbourne property high flyer Sean Cussell, Dune’s asking price is expected to be more than $5 million.
Ms Wolveridge intends to hold open inspections this Easter – Appointment times are available on Saturday, April 17, between 10am – 2pm, and Monday April 19 from 10am-2pm. Interested parties should phone Barbara Wolveridge for an appointment to view the property. 0418 760 004).
Number 7 Wharf St is up for auction on site at 10am on site on May 6.
7 Wharf St, Port Douglas: auction onsite on May 6