Serenity Cove site to stir up market

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ONE of south east Queensland’s few remaining large-scale approved waterfront development sites has hit the market.

Sime Darby Serenity Cove (SDSC) Pty Ltd has listed the 65-hectare Serenity Cove Estate property, with approval for 235 lots and dwellings in addition to further development land, through Mark Witheriff and James Branch of Knight Frank and Brendan Hogan and James Holland of Colliers.

The site is located within the Hope Island and Helensvale precinct at the northern gateway of the Gold Coast, 10 minutes from the 5-star resort and golf course of Sanctuary Cove.

“This is one of the last large-scale waterfront approved development sites within south east Queensland,” Witheriff said.

“There are very limited comparable sites of this scale remaining on the Gold Coast, let alone those with extensive water frontage to cater for an up-market master planned residential estate.

Holland said the Helensvale and Hope Island precinct is currently seeing strong sales of waterfront land and homes.

“Due to diminishing land supply in Hope Island, the suburb is currently seeing a resurgence in high density living.”

Knight Frank and Colliers recently transacted the former Village Square Market Place site of 3.3 hectares located at nearby Hope Island for $17.025 million.

The site been vacant for five years amid a long-running dispute between strata owners of the 295-shop failed arts and crafts marketplace. Jason Bettles of Worrells was eventually appointed to oversee the winding up of the group-title Village Square scheme through the property’s sale.

The purchaser has since lodged plans for 348 retirement apartments across five buildings of eight levels, and demolition works have started.

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