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The appetite for luxury property on the Sunshine Coast is alive and well with the luxurious $1.7m penthouse at Latitude Coolum Beach being snapped up by buyers from Far North Queensland this week.

The 247sqm apartment has expansive ocean views and is one of only seven high-end apartments in the boutique $8 million development set on the corner of Frank Street and Beach Road in Coolum Beach.

Double R Projects Director Ken Reed said the level of enquiry for the apartments had been strong in recent weeks with much interest coming from intra- and interstate.

“Like many in the property market at the moment, the penthouse buyers had long been considering a move to the Sunshine Coast and COVID-19 was the catalyst to make it happen,” Mr Reed said.

“While the pandemic has certainly created much uncertainty, it has also seen people take time to evaluate their current situation and to make decisions about their future. What buyers can be sure of is that interest rates are set to remain low for some time and ocean-view apartment stock on the Sunshine Coast will continue to be a good investment for the long term.

“We made the decision to start building Latitude Coolum Beach while much of Australia and the world was locking down due to the COVID-19 pandemic. Our commitment to keeping the economic wheels turning locally, combined with our confidence that luxury, beachside apartments would continue to be in high demand were fundamental to our decision to proceed as planned.”

North Shore Realty Sales Consultant Ben Thomson said the Sunshine Coast’s housing market was showing strong resilience during COVID-19, particularly with a large increase in southern enquiries from Victoria but also Brisbane and south of the Sunshine Coast.

“Enquiry levels were very high in August resulting in our strongest sales month on record in 25 years of selling property north of the Maroochy River,” Mr Thomson said.

“About 50 per cent of our enquiries in the past month came from Victoria, which is indicative of how COVID-19 will continue to have far-reaching implications, well beyond the immediate impact of restrictions on the day-to-day lives of Victorians.”

“There’s no doubt that many living in the southern states have their eye on the Sunshine Coast, and in particular in the townships north of the river. While migrations from down south might be more predictable there is also an increase in enquiry from intrastate with Queenslanders looking to make a lifestyle move.”

Latitude Coolum Beach’s proximity to the Maroochydore CBD has been a strong factor in buyer enquiries and of course being only steps away from one of the Sunshine Coast’s most popular beaches and the vibrant esplanade with its cafes, restaurants and boutique retail offering.”

Devcon Managing Director Michael Kain said the project has opened up a great opportunity for 100 local tradies to gain employment during COVID-19.

“We anticipated a drop of activity due to COVID-19 but we’re actually seeing a lot of prospect for growth at the moment on the Sunshine Coast,” Mr Kain said.

“We have had to implement new health strategies, including staggering numbers of people onsite at one time and being conscious of people showing symptoms which has impacted our timelines to a certain extent.

“However, in saying that if the weather continues to act in our favour, we’re anticipating we’ll have construction wrapped up by the Christmas – which is a pretty special way to end the year for the new owners!”

Latitude Coolum Beach offers three-bedroom, two bathroom apartments ranging from 177sqm to 231sqm with secure garaging on the ground floor. Three apartments are still available and are priced from $879,000.

To find out more or register your interest, please visit www.latitudecoolum.com.au or contact North Shore Realty’s Ben Thomson on 0447 057 651 or Noel Mooney on 0417 756 076.

 

Media contact: Maya Gurry, www.freshprm.com.au

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