The north is a hive of activity

There has been a construction boom in a Sanctuary Cove waterfront precinct

IT’S known for being a boatie’s haven and now one of the last remaining waterfront precincts at Sanctuary Cove is undergoing a construction boom with almost $40 million in new homes being built.

With building costs starting from about $900,000, the exclusive Sanctuary Point precinct offers some of the rarest waterfront blocks in Queensland and is seeing homes such as a sprawling mansion estimated to be worth $4 million and a three-storey home, which has nine bedrooms, under construction.

Mostly family homes, the properties are being built by local and overseas buyers.

Only six north-facing waterfront parcels remain for sale at Sanctuary Point, with lots ranging from 650sq m to 1000sq m and priced from $1.75 million to $2.65 million.

“We’ve always experienced a steady run of sales across Sanctuary Cove over the past decade or so but the pace has significantly accelerated over the past two years,” Mulpha Sanctuary Cove general manager of sales and development John Hughes said.

“Demand for exclusive waterfront land at Sanctuary Cove has never been stronger and we’re effectively experiencing a boom in construction across the Sanctuary Point precinct to meet that demand.

The latest release within the Sanctuary Point precinct presents the most diverse range of luxury homes ever released at Sanctuary Cove.

The properties being built onsite have many standout features, including underground basements and elevators, spas, fire pits, wine cellars, voiceactivated controls for the homes and kitchens with butler’s pantries.