With home costs of as much as $1.7m thus far, a luxurious residential enclave in Cairns is laying declare to the title of the town’s A-lister tackle. FIND OUT WHERE
A NEW locale is rising because the ritziest tackle within the Far North with greater than 10 houses breaking the million-dollar mark and land promoting for as a lot as $854,000.
Whereas Bluewater Harbour at Trinity Park lately has taken the mantle of the priciest properties with a $2.5m sale, the Argentea Property at Palm Cove is quick turning into the brand new millionaire’s row.
A property at 11/67-81 Argentea Boulevard offered earlier this month for $1.7m, whereas 3/67-81 Argentea Boulevard offered for $1.5m final week.
There’s a ready record for 19 tons to be launched in stage 5 of the event.
Developer Bruce Dickson mentioned Argentea had been offered out for a 12 months.
“We launched the primary stage of Argentea on the market in 2018 at a mean worth of roughly $365,000, if it was launched now we might obtain a mean of least $500,000 or possibly nearer to $550,000 per lot,” Mr Dickson mentioned.
He mentioned a block at 293 Coral Coast Drive offered in August 2019 for $400,000 and lately offered once more for $600,000.
Mr Dickson’s firm Kerdic Houses can also be behind the Ocean’s Edge growth on the northern facet of Palm Cove, with stage one of many 90 lot property quickly to be launched and plenty priced as much as $700,000.
“Costs in Cairns went sideways for 10 years between 2010 and 2020, the rise in costs is catching as much as different areas of Australia and since Cairns has regained its recognition and desirability as a spot to dwell,” Mr Dickson mentioned.
Mr Dickson mentioned Argentea was a wanted luxurious residential precinct that had 20ha of bushland and a recreation zone.
It is going to comprise 247 home tons, together with a gated group of 19 homes known as Esprit and a 12-villa complicated known as Serenity, bringing the entire variety of residences to 288.
Ray White Cairns Seashores agent Matthew Pearce, who’s advertising a chic house at 49 Seaside Parade at Argentea, mentioned 9 properties had offered for greater than $1.2m in 14 months.
“It’s unique, it’s the latest space near the seashore and blocks are promoting for $500,000, with these subsequent to Sea Temple promoting within the $900,000s,” Mr Pearce mentioned.
“It’s the standard of the houses, respected builders have actually taken pleasure in them and it’s flowed to Melbourne and Sydney enterprise house owners who need the escape in Palm Cove.”
He mentioned one lady spent $2.5m constructing a house for prolonged household to take pleasure in.
“I’ve taken six calls this morning for 49 Seaside, possibly 30 inquiries or extra – folks say ‘I need to be near the seashore and stroll to the eating places and low retailers at Palm Cove’,” Mr Pearce mentioned.
“It’s principally Melbourne and Sydney, it’s undoubtedly marketed to that demographic, center aged, retirees downsizing – you simply can’t get in there, there’s all the time been a ready record, it’s distinctive.”
The file worth for 2021 was $1.55m for 25 Seaside Parade.
High gross sales at Argentea Property:
$1.7m – 11/67-81 Argentea Boulevard
$1.35m – 55 Argentea Boulevard
$1.3m – 1 Muller Road, Palm Cove
$1.27m – 30 Litara Court docket, Palm Cove
$1.25m – 68 Argentea Boulevard, Palm Cove
$1.22m – 21 Litara Court docket, Palm Cove
$1.22m – 8 Lillian Street, Palm Cove
bronwyn.farr@information.com.au
Initially printed as Argentea at Palm Cove turning into new millionaire’s row in Cairns
