Settler’s Cove Noosa penthouses sell for $4.5 million each

Two luxury penthouses have sold off the plan for $4.5 million each in the next stage of Noosa’s Settler’s Cove apartment development, in a sign of a major residential resurgence in one of Australia’s prestige property bastions.

The blue chip sales are part of a tranche to the tune of more than $15 million in Emerald, the latest release in the highly acclaimed residential precinct being undertaken by well-known Australian businessman Ralph Sarich’s Cape Bouvard Developments.

The two penthouses occupy the entire top floor and have been purchased by local buyers.

The pre-construction sales in Emerald have outstripped corresponding sales in the preceding 22-apartment Iluka development by more than 30 per cent.

Cape Bouvard Operations Manager Gary Godfrey said the sales reflected the resurgence of the Noosa property market.

“The prices achieved reflect the quality of the product that we are introducing, but they certainly wouldn’t have been achievable if the demand wasn’t there,” Mr Godfrey said.

“Noosa is buzzing again and people are now willing and able to purchase apartments of this caliber, indicating a significant confidence in the local property market going forward.

“The fact that we have been able to secure more than $15 million in sales prior to both a formal release and construction reflects the pent-up demand in the Noosa market at present.”

Occupying the most prominent and elevated position within the precinct, Emerald’s spacious apartments will have clear outlooks from all four levels; some with uninterrupted water views.

Comprising just 14 residences, Mr Godfrey said Emerald would become the most exclusive and prestigious complex at Settler’s Cove, with unrivaled resort-style facilities and direct access to Noosa Sound.

“Emerald will certainly be the jewel in the crown at Settler’s Cove, with fewer apartments and the highest average values, so we are very excited to finally bring this unique offering to the market,” he said.

“With internal areas starting from 215sqm and the finest of finishes and inclusions, the Emerald apartments epitomize the Settler’s Cove brand that Cape Bouvard has worked so hard to establish.”

Features include natural stone both inside and out; solid American Oak doors; generous living areas with high feature ceilings; an extensive array of Miele appliances; Villeroy & Boch sanitaryware; Grohe tapware; full home automation and the most spectacular amenities to date.

Adding to the unique level of exclusivity, Emerald’s apartments preclude holiday letting, offering residents a peaceful, secure and very private lifestyle.

Along with Iluka, Emerald will complete the premier third stage of apartments at Settler’s Cove; the last to enjoy a direct frontage to Noosa Sound.

Preliminary site works have recently commenced and Emerald is due to be completed in late 2016.

Apartment prices in Emerald range between $1.8 million and $4.5 million.

The Iluka development was completed in September 2013, where sales to date exceed $32 million. Only a handful of Iluka apartments remain, at prices averaging just under $1.7 million.