Cashed up and care free
Virus a blip to buyers on beach
COVID-19 is proving to be a “blip on the radar” for cashed-up beachfront buyers who are swooping on premium properties in lifestyle locations on the southern Gold Coast and Tweed Coast.
A string of hefty deals between Mermaid Beach and Kingscliff in NSW indicate early signs of resilience in the beachfront market coming out of the COVID-19 slump.
“Buyers with lifestyle in mind are willing to spend 10 to 20 per cent more to get what they want,” Kollosche agent Troy Dowker said.
Mr Dowker handled offmarket negotiations on 237 Jefferson Lane, Palm Beach with a NSW buyer offering a “strong price” for the architecturally designed home on absolute beachfront.
Nearby, an as-new twostorey mansion at 165 Jefferson Lane was listed as under contract this week for an undisclosed sum within month of going to market.
Just last month a Melbourne buyer paid $25 million to secure Tony Smith’s Mermaid Beach mansion as a family holiday home.
Developers are also moving to land bank beachfront properties with upside potential, with a 1099sqm site at 345 Golden Four Dve, Tugun selling for a street record a of $6 million in April.
A prime 1163sqm site on the Currumbin beachfront at 14 Darwalla Ave sold for $6.5 million in a deal which settled in March.
Lifestyle and new infrastructure are driving big deals on the Tweed Coast where several prestige beachfront homes have sold in recent weeks.
A Brisbane family last week secured 9 Cylinders Dve, Kingscliff for $3.75 million while this week a commercial entity signed a $3.895 million contract on 23 Cylinders Dve, both handled by LJ Hooker Kingscliff.
“We’ve transacted in excess of $20 million in sales in May,” agent Nick Witheriff said.
“Inquiries are increasing off the back of the Tweed
Valley Hospital redevelopment and people seeking the kind of work-life balance on offer here.”
Two high-end homes in The Golden Four Beach Homes Bilinga project sold within one week in May – 1/237 Golden Four Dve fetched $3.3 million while 2/237 Golden Four Dve sold for $3.2 million with only two lots now remaining.