80% of first stage sold at The Cove as market sizzles

The $200 million waterfront apartment and townhouse community on the Sunshine Coast has taken advantage of a buyer frenzy in Queensland’s lifestyle markets with more than 80 per cent sold in the first stage, Corsica Residences. 

Henzell Property Group’s $200 million master-planned community, The Cove in the heart of the renowned Pelican Waters at Caloundra, has tapped into strong local demand and enormous interest from interstate buyers looking to Queensland, selling 38 luxury townhouses and apartments across the first stage. 

Local owner-occupiers are driving the majority of sales in the first stages of The Cove, with interstate buyers making up the remainder as Queensland continues to be a hotspot for southern buyers. 

Construction on the first homes is expected to commence in May this year with buyers snapping up the first stage off the back of the penthouse terrace collection sell-out late last year. 

All five of the luxury penthouse terrace collection within the first stage sold within a week since its launch to market and one of the apartments in the penthouse collection selling to a Melbourne buyer purchasing sight unseen for $1.5 million for a stunning three-bedroom home. 

Mclean Henzell, Managing Director of Henzell Property Group, said the sales achieved are reflective of the high demand for luxury new residences in Pelican Waters tailored toward downsizers.

“We have been overwhelmed with inquiry since the launch and to have sold more than 80% of apartments and terrace homes in the first stage, including the sell-out of our penthouse terrace collection, puts us way ahead of where we anticipated,” said Mr Henzell.

“The sales reflect the extremely strong underlying demand for downsizer product among a local market of buyers who have been a part of the Pelican Waters community for many years but wish to downsize. 

The Cove is the final instalment in the Pelican Waters community which the Henzell family has been developing for over 30 years. 

The Cove will be developed over four stages and includes 220 apartments and terrace homes, a grocer and waterfront restaurant. 

Marcus Muir, Sales and Marketing Director at Henzell Property Group, said that while the community was designed to appeal to local owner-occupiers and downsizers, exceptional interest has come from interstate buyers seeking to relocate to the Sunshine Coast.

“The Cove has been meticulously designed over a number of years to bring something to market that buyers were calling out for,” said Mr Muir.

“The Covid pandemic is definitely elevating peoples’ plans to move from southern states to Queensland and we’re seeing an increase in enquiries week on week.”

Local buyers, Alan and Judy Cramond, are among a number of owner-occupiers downsizing into the upmarket Cove development nestled in the heart of the resort community. 

“The whole ambience of The Cove is the best I’ve seen on the Sunshine Coast – nothing we looked at had the same level of quality to the design and architecture,” said Mr Cramond. 

“The outlook of the apartment had plenty of room and the area had plenty of space for the grandkids. It’s close to a range of amenities and dining options and is fully secure which played a big part in our decision to purchase.

“We loved the aspect of the area and the level of security on offer. We have been following the developers for quite some time as we have bought into two of their other projects previously and we knew that the quality of this project would be absolutely superb.”

Apartments and terrace homes at the Corsica Residences are set to offer ample storage, expansive kitchens and living spaces designed for entertaining and unwinding, as well as large master-bedrooms with walk-in wardrobes.

The penthouse apartment collection offers three-meter-high ceilings with premium tiling, furnishing and fixtures including the latest Bosch appliances.

Apartments range in size from 143 to 261sqm and begin at just $625,000 with terrace homes up to 267sqm priced from $800,000. 

The Sunshine Coast-based, globally spanning O.G.E Group Architects has designed the full masterplan, drawing upon their local and international experience in order to create a true resort-inspired destination for Pelican Waters residents.

Additional stages to be developed in The Cove include restaurants and a grocer, adding to the $20 million Marina Village which offers a range of health, medical, cafes and restaurants. 

The Cove is situated on a 2.7-hectare waterfront site and boasts north-facing views to the Pumicestone Passage and Caloundra as well as views out to the Glasshouse Mountains, Bribie Island and Moreton Island.  

The master-planned project is set to be completed in 2025.

For further information on The Cove or to register your interest visit https://www.thecove.com.au.