LOCALS FAVOUR COOLUM
Construction on a Coolum Beach residential development has started, and two penthouse apartments are all that remains to be sold.
Mosaic Property Group’s Drift development is due to be completed in August 2019 and is the third project the company has carried out on the Sunshine Coast. Mosaic Property Group managing director Brook Monahan said interest had been strong and 70 per cent of buyers were locals.
“It has been 11 years since the last quality apartment project was delivered in Coolum,” Mr Monahan said. “There were 17 sales in the first two weeks the project was on the market and it was 65 per cent sold within a month.
“These buyers are well aware of how special Coolum is, and they’ve been waiting patiently for a development of this calibre for a long time.”
He said the development had attracted interest from a range of buyers, including
85 per cent owner occupiers, 15 per cent of whom were downsizing.
Mr Monahan said the remaining threebedroom penthouses, which are priced at $2.3 million and $2.45 million, have three car spaces each, plus additional storage.
“They feature oak timber floors, high-end custom joinery and large private balconies, while the designer kitchens include stunning designer tapware, two-pac cabinetry, exclusive range SMEG appliances and fully integrated french-door fridge/freezers.
“Hand selected natural stone has been used in the benchtops, island benches and splashbacks.”
According to CoreLogic, penthouse apartments in Coolum Beach are hard to find and tightly held.
The latest sale was in February 2018, when a three-bedroom penthouse, on the 13th floor in the Coolum Caprice building sold for $1.57 million.
A search of realestate.com.au on June 21 revealed just four established penthouses for sale in the beachside suburb ranging in price from $725,000 to $1.8 million.
Mr Monahan said a fourth Sunshine Coast project at 100 Duport Ave, Maroochydore, would be launched soon, and was set to be Mosaic’s most luxurious development yet.
Mosaic Property Group’s Drift is due to be completed in August next year and all but two penthouses have sold. It is the company’s third Sunshine Coast project.