New villas for beachfront to be ‘rare’ buys

DEVELOPER and real estate agency head Christie Leet and his Sherpa Investments have wasted no time climbing into the beachfront housing market, unveiling a $10 million, four-home, up-market project at Bilinga (pictured).

The homes are to be built on a $3.45 million site at 237 Golden Four Drive.

The 1012sqm vacant holding is among several bought by Sherpa on or near the beach at Bilinga and Coolangatta in a $20 million spend-up.

Mr Leet, PRDnationwide Whitsundays principal, has not disclosed the location of the other sites, which also are earmarked for luxury homes.

The Golden Four Drive project is a cluster of freestanding architect-designed homes, including two with a beachfront position.

The three-level homes are priced at $3.195 million, $2.995 million, $1.65 million and $1.575 million.

Mr Leet said owning a beachfront home on the Gold Coast was the ultimate symbol of prestige and the opportunity to acquire a new home on the beach was rare.

“The Golden Four has been designed for buyers who wanted to enjoy beachfront living without the hassle of body corporates or shared walls,” he said.

Mr Leet said only 12 to 15 older homes were available to be redeveloped along the 1.8km stretch of beachfront at Tugun and Bilinga.

“The majority of those sites will become apartment complexes, so new beachfront homes will be extremely rare and be priced accordingly.”

Each of Sherpa’s two beachfront villas in Golden Four Drive will sit on 250sq m of land and have eight metres of ocean frontage.

The four-bedroom villas will have double garages, three-metre ceilings, ducted airconditioning, and seamless indoor-outdoor living, including plunge pools.

The garden villas closest to Golden Four Drive will have three bedrooms plus a study, with a rooftop entertainment area on the third floor.

All four properties have been designed by Surfers Paradise architectural practice Herwig Hartl.

The Sherpa site was bought from Leo and Anne Khouri, who paid $3.7 million for it in 2006.

Mr Leet, who has retained his interests in the PRDnationwide Whitsunday franchise, is moving full-time to the Coast.

Sherpa is preparing to launch the second stage of its first foray south – a 44-lot land estate at Bilambil Heights.