DEMAND STILL STRONG FOR COCONUT GROVE IN PORT DOUGLAS
The Juniper Group says the demand for high-end property is still strong in Far North Queensland, based on sales in swanky Port Douglas. Juniper Group just opened the $60 million mixed-use development Coconut Grove resort and has reported 25 apartment sales off the plan, along with record sale prices for the resort.
Group managing director Shaun Juniper said buyers were finalizing the purchase of luxury apartments at the resort with the Macrossan St resort so far attracting more than $36 million in residential sales. This included the landmark sale of a unit for $1.85 million. Selling Well: Juniper Group's Coconut Grove resort on Macrossan St, Port Douglas. The sale is believed to be the highest price paid for a Macrossan St apartment. Another 11 Coconut Grove apartments sold off the plan for more than $1.5 million. As well as the apartments, Coconut Grove includes a $14 million retail area with 16 tenancies totaling 1278sq m on the ground floor, plus 142sq m for alfresco dining.
Mr Juniper said Port Douglas's reputation for luxury resorts, dining and retail in one of Australia's most idyllic spots was attractive 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," he said.
Mr Juniper said Coconut Grove's sales success was based on the property developer's philosophy of building first-class resorts in firstclass 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.