$13 million Magnetic Views Estate achieves new land price records for Townsville

Magnetic Views Estate, an exclusive $13 million land release overlooking the Cape Pallarenda foreshore, is setting new records for vacant residential lots in Townsville as the development edges closer to a sell-out now that construction is complete.

The boutique gated estate comprises just 13 lots from 773sqm to 2,855sqm offering spectacular ocean views spanning north to Magnetic Island and south to Townsville Esplanade and Castle Hill. 

Only five lots remain for sale after buyers snapped up eight lots in a record-breaking run of sales totalling $7.455 million that has established Magnetic Views Estate as Townsville’s premier residential development.

Residential lots within the development, which is being undertaken by Centurion Global, are priced from $850,000 to $1,100,000 The sales so far have averaged $930,000 per lot.

“Buyers have been quick to appreciate the exclusiveness of the location and the rare land offering, with all sales achieved so far achieving records for Townsville,” said Mark Tonge, the founding Director of Centurion Global.

“All of the buyers have been local which is a key indicator of the combined value they see in the location, the lot sizes and the exclusivity that Magnetic Views Estate offers.

“We have yet to undertake an official marketing campaign, so the sales result has been exceptional. Land like this has become increasingly scarce, especially sites within easy reach of a range of urban amenities in the heart of Townsville.”

The land release is located at One The Esplanade, Cape Pallarenda, which provides easy access to Townsville’s CBD as well as major hospitals, schools universities and the Townsville Airport.

Surrounded by national park and natural landscapes with uninterrupted ocean views over the Coral Sea, Magnetic Views Estate is poised to become Townsville’s most prestigious address with buyers seeking to create architecturally designed homes that capitalise on the unique location.

Magnetic Views Estate is also tapping into the work-from-home boom by including underground NBN connections to all home sites.

The landmark residential project is the first undertaken in Townsville by Centurion Global, which has an extensive portfolio of previous developments in south-east Queensland.

Townsville has become a key focus for Centurion Global, with Magnetic Views part of a $71.8 million portfolio either under way or in the pipeline for the city.

This includes the 54-lot Limestone Estate in the suburb of Condon, which has moved to stage two and three construction, and Castle Hill Estate, another premium 33-lot gated land release located just minutes from the CBD.

Centurion Global recently secured a site with development approval for an inner-Townsville Ross River project, comprising 53 apartments, with construction set to start in 2023.