Mackay’s $24 million Pacific Sands beachside apartment building has sold out ahead of completion following a flurry of investor interest.
Buyers of the 56 sold apartments are a mix of local, interstate and overseas investors who will start settling their purchases early in 2015.
Developed by regional Queensland developer Honeycombes Property Group, Pacific Sands has eight levels of one, two and three-bedroom apartments with stunning views across the Pioneer River and Pacific Ocean.
It is understood to be the first time in several years a Mackay apartment project has sold out ahead of completion.
Honeycombes managing director Peter Honeycombe said buyers had been galvanised by Pacific Sands’ affordable price point and the lifestyle benefits of beachside living.
“The development is just a stone’s throw from one of Mackay’s best swimming beaches and all apartments have been designed to make the most of the idyllic location,” he said.
“The location is also proximate to the CBD which has been a major selling point as most waterfront apartments in Mackay are located at the marina which is further out of the city.
“Mackay enjoys an enviable tropical climate so we have included large, glass-framed balconies for outdoor entertaining which form the focal point of each apartment.
“The open-plan interiors are cross-ventilated which will also reduce cooling costs for residents in the warmer months.”
Honeycombes Chairman of the Board of Directors Richard Wallace, who is based in Mackay, said Pacific Sands was the first of two projects the developer was delivering in the city.
He said Pacific Sands’ completion would be followed by the $26 million Carlyle Apartments on the fringe of the CBD, where just a handful of the 59 apartments are left for sale.
“The sales activity at both Pacific Sands and Carlyle demonstrates strong demand for apartments in Mackay from a range of buyers both from the local area and out of town,” he said.
Mr Wallace said the Mackay Regional Council had been very supportive of bringing Pacific Sands to life.
Mayor of Mackay Regional Council Cr Deirdre Comerford said the sell-out of Pacific Sands ahead of the completion of construction was a glowing endorsement of the city as an investment location.
“It goes to show that investors see Mackay as an astute location for property investment,” she said.
Pacific Sands has plenty of resident and visitor parking, a café off the entry foyer, and a swimming pool at podium level.
Construction of the project is due to wrap up in January.
Honeycombes is a leading and long-established private developer that has delivered an array of mixed-use and staged urban renewal projects in key regional Queensland locations and in Brisbane.
The Townsville-based company has completed $200 million in apartment developments during the past four years and is presently rolling out its flagship $450 million Central project in Townsville’s CBD and its $232 million redevelopment of the old Myer site in Coorparoo, Brisbane.
For sales inquiries contact Honeycombes sales and marketing manager Blair Shillington on (07) 4760 2929.