$60m PORT DOUGLAS DEVELOPMENT COCONUT GROVE ATTRACTS LUXURY PROPERTY BUYERS
The market for premium, luxury property is still going strong, with investors and homeowners increasingly attracted to the Far North Queensland tourist hot spot of Port Douglas.
Juniper Group has just opened the $60m mixed-use development, Coconut Grove Resort. Port Douglas’s latest development to achieve impressive sales figures.
Coconut Grove sales have remained strong and consistent with 25 apartments being sold off the plan, and the resort continuing to achieve record sales prices.
Buyers are currently settling the purchase of their luxury apartments at the resort, with the Macrossan Street resort so far reaping more than $36 million in residential sales.
This included the landmark sale of a unit for $1.85 million, the highest price ever recorded for a Macrossan Street apartment. A further 11 Coconut Grove apartments sold off the plan for more than $1.5 million.
In addition to the apartments, Coconut Grove also features a $14m retail precinct with 16 tenancies totalling 1278sqm on the ground floor, plus 142sqm of alfresco dining. The retail precinct will provide a diverse range of fashion, accessories, lifestyle and restaurant usage, as well as an undercover car park for 74 residential and visitor cars.
A mix of residential and retail, Coconut Grove is located just 140m from Four Mile Beach with the shopping and culinary delights of Macrossan Street right on its doorstep.
Juniper Group Joint Managing Director Shaun Juniper said Port Douglas’s reputation for boasting luxury resorts, dining and retail in one of Australia’s most idyllic locations was reassuring for investors.
“Coconut Grove will complement the existing mix of retail and will be a destination for outstanding dining, in a continuation of the exceptional shopping already present in the vibrant heart of Port Douglas.”
Mr Juniper said Coconut Grove’s sales success was based on the property developer’s philosophy of building first-class resorts in first-class locations.
“Juniper Group has earned a reputation for developing some of coastal Queensland’s most stunning boutique resorts and Coconut Grove continues that tradition.
“The settlement of Coconut Grove’s residential apartments is another success story for our company,” he said.
The boutique building’s unique terrace and penthouse apartments offer expansive recreation areas with private plunge pools, spas and built-in BBQs.
Juniper Group previously developed the Saltwater apartments and retail complex on Macrossan Street and last year opened the $125 million Sea Temple Resort and Spa Port Douglas.
The group also owns the Sea Temple Golf Club featuring 63 magnificent home sites fringing the fairways of the 18-hole championship golf course.
Its showpiece development is the $850 million Soul Surfers Paradise project on the Gold Coast.