Set­tle down in Noosa

The Courier-Mail - Home - - New Apartments, Units & Townhouses -

ON the back of a solid year of sales, Cape Bou­vard’s lux­ury Set­tler’s Cove de­vel­op­ment is surg­ing for­ward in 2010. Two lux­ury apart­ments in the exclusive Riverlight stage re­cently sold for a com­bined to­tal of $3.5 mil­lion.

The $450 mil­lion de­vel­op­ment is set in re­sort-style grounds with fa­cil­i­ties in­clud­ing a 25-me­tre heated lap pool, sep­a­rate la­goon pool, two heated out­door spas, ful­lye­quipped gym­na­sium and bar­be­cue and bar ar­eas.

Cape Bou­vard’s de­vel­op­ment man­ager Gary God­frey said the fig­ures high­lighted an im­pres­sive cal­en­dar year and steady start to 2010 for the de­vel­op­ment.

“De­spite the dif­fi­cul­ties of 2009, those now-com­plete sales demon­strate the fact Set­tler’s Cove is the only large scale de­vel­op­ment of­fer­ing lux­ury res­i­dents-only liv­ing within close prox­im­ity to Hast­ings Street,” he said.

He said the mar­ket con­sol­i­da­tion pe­riod of early 2009 has made way for height­ened sales ac­tiv­ity in Noosa Heads.

“The mar­ket cor­rec­tion phase has ended and buy­ers are be­com­ing in­creas­ingly wary that whilst de­mand is still strong, the on­go­ing sup­ply of spa­cious high qual­ity apart­ments is lim­ited, which will soon place up­ward pres­sure on prices,” Mr God­frey said.

“There’s no doubt that vol­umes in the re­gion as a whole were down, but the re­al­ity is that Noosa Heads held its weight, with fewer dis­tress sales tak­ing place in the up­per mar­ket than many an­a­lysts ex­pected.”

Upon com­ple­tion the de­vel­op­ment will ul­ti­mately boast a mix of 132 lux­ury apart­ments and eight exclusive vil­las, 33 home­sites, as well as a pro­posed four-star re­sort.

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