Buyers make mad dash for Cabarita estate
A BOUTIQUE Cabarita housing-land estate has sold out in one day at an average of $650,000 a lot 24 hours before it was to be launched.
Back-up buyers are waiting in the wings should any of the 17 lots fail to settle.
Freedom Caba, a project of PRD Nationwide Whitsundays principal Christie Leet, will have creek-front lots 700 metres from Cabarita Beach.
Mr Leet’s Sherpa Investments is yet to develop the estate and will not deliver the lots until early 2021.
Yesterday he said that the rapid $11 million sellout, predominantly to buyers from the area, reflected a paucity of vacant housing sites at Cabarita, named by Tourism Australia as having Australia’s top beach for 2020.
“We anticipated there would be strong demand, but to put every lot under contract in a single day is a phenomenal result,” he said.
“A number of natural borders surround the Cabarita township and it is very rare that a development site of this size comes to market.
“It was a great opportunity for buyers to be able to design and build a beach-house on their own piece of Cabarita and enjoy the seaside township lifestyle for which so many others are clamouring.”
Mr Leet said Cabarita was one of the most unique boutique real estate markets in Australia, offering relaxed beachfront living while still being close to the hustle and bustle of the Tweed Coast and Gold Coast.
Freedom Caba is to be developed on part of an 82.39ha Clothiers Creek Rd site, partly environmentally protected, bought for $4.8 million in April.
The lots will range from 557sq m to 1030sq m and have sold from $550,000 to $750,000.
Nick Clydesdale, of CBRE Residential, yesterday said there was a second buyer’s name beside every lot.