Quiet Tugun in spotlight
A SLEEPY beachfront pocket in Tugun is emerging as the next “millionaires’ row” as cashed-up buyers go in search of the Gold Coast’s next best beachfront address.
Only 24 houses sit opposite the beach on Tugun’s Pacific Pde, which is attracting buyers hunting for a quieter slice of paradise beyond the more prominent beachfront strips of Surfers Paradise, Mermaid Beach and Palm Beach.
The enclave is favoured by professionals and executives from Brisbane, who travel down on weekends and holidays, and interstate owners who can make use of the nearby Gold Coast Airport. It is also popular with medical specialists, with John Flynn Private Hospital nearby.
“Beachfront opportunities are a rare commodity and this particular precinct has been largely undiscovered and undervalued, but that is changing,” said Kollosche selling principal Michael Kollosche, who has just listed 662 Pacific Pde, Tugun.
“Events of the past two years have seen people seek out lifestyle real estate like never before.
“The southern Gold Coast has blossomed, and with so much activity and investment in this area there’s plenty of growth still to be seen.”
He said the pocket, particularly that in the Flat Rock precinct, offered large homes for buyers priced out of the northern beachfront strips.
“It offers a lot more value compared to the central markets of Mermaid Beach, where prices are now hitting $25,000 a square metre for land on the beachfront,” Mr Kollosche said.
“When you need to move away from Mermaid Beach’s prices, the next logical step is Jefferson Ave in Palm Beach but you do have the potential of having medium-density high-rises on your adjoining properties.
“So that leaves this little pocket in Tugun, which has low-density living and is very private and exclusive.”
Harcourts Coastal southern beaches specialist Ed Cherry said the entire Flat Rock to Bilinga strip had become highly desirable.
“Houses in this area are so tightly held that when something goes on the market, it is highly sought-after by buyers,” he said.
“A lot of locals are moving here to get closer to the beaches because of how quiet they are and properties, comparative to other prized pockets, still offer value for money.
“It’s like a two-way Jefferson Lane, with the added bonus of having boutiques, restaurants and cafes.”
The predictions follow mega sales in the traditional hotspots this year, including three house sales on Hedges Ave for $13.51m, $14.5m and $21m, and one on Jefferson Lane for $11m.