New release on horizon after $50m sales run at Sanctuary Cove

Mulpha Sanctuary Cove is gearing up to release some of the community’s best golf course-fronting land this year after amassing close to $50 million in sales in 2014.

The sales, which include land and house and land deals across waterfront, golf course-fronting and hillside precincts, have left limited completed stock in the resort estate.

Mulpha Sanctuary Cove general manager of sales John Hughes said 2014 was the most active year of sales he had witnessed since 2008.

“The volume of sales this year has put pressure on us to deliver the next stages of the community,” he said.

“Throughout the GFC there was virtually no new development activity on the Gold Coast and as a result the recent market has been relying on resale properties.

“This has resulted in a lack of resale supply which has people turning to well-priced developer stock.

“Future stages at Sanctuary Cove will include some of the best located golf course-fronting and hillside lots we’ve released for close to a decade.”

Mr Hughes said waterfront land sales had been spurred along by the looming shortage of waterfront land in South East Queensland.

“Supply of waterfront lots at Sanctuary Cove and indeed in the wider Hope Island area is rapidly diminishing,” he said.

“And elsewhere in the established parts of the Gold Coast there are extremely few opportunities to develop waterfront land.

“In April we released a tranche of 31 premium waterfront lots and 22 of them sold before civil works were complete.”

Lots in Sanctuary Cove’s waterfront Tristania precinct are currently available from $930,000, while house and land packages are selling from $1.595 million.

Two remaining lots in the hillside Alpinia precinct are priced from $569,000 while land in the golf-course fronting Banksia precinct is priced from $575,000. House and land packages in Banksia start at $1.195 million.

Sanctuary Cove’s new golf course-fronting release will back onto The Pines, the community’s premier Arnold Palmer-designed golf course. It will be the final release on the iconic Pines course.

Sanctuary Cove is a resort-style masterplanned community, featuring two 18-hole championship golf courses, a 300-berth marina, InterContinental Sanctuary Cove Resort and Country Club including full fitness centre, tennis courts and 25m swimming pool.

At the heart of the community is the Marine Village – Sanctuary Cove’s very own waterfront commercial, retail and dining precinct, with more than 80 tenancies.

Mulpha continues to reinvest in the multi award-winning community, ensuring it maintains its enviable reputation of a world-class community with unparalleled lifestyle options.