Gold Coast buyers drop anchor at $650m Serenity Cove

GOLD Coast buyers are charting a course for the $650 million Serenity Cove masterplanned development at Hope Island with locals creating a wave of post-launch sales.The prospect of fresh waterfront land opportunities in one of the Gold Coast’s blue chip suburbs has seen a tide of predominantly local buyers inundate the initial release, with 15 land sales totalling more than $10 million secured following a soft launch of the project in mid-February.Serenity Cove’s first release of land comprises 48 waterfront lots along Saltwater Creek and on Lake Serenity, some with marina berths.The initial sales ranged from $470,000 to $763,000.Colliers International national director of residential project marketing Tony Hymus said local buyers had immediately identified the significance of the project to the Gold Coast market and had responded accordingly.“They have recognised what could be the last chance to buy waterfront residential land on Hope Island,” Mr Hymus.“Serenity Cove comes to the market at a time when waterfront land is becoming more sought-after than ever, and particularly as the development of the Hope Island community matures.“While this strong early response from buyers is extremely encouraging, it’s not surprising given the extremely limited supply of new waterfront land available on the Gold Coast.“We expect significant interest in the remaining lots in this release.”Mr Hymus said interstate buyers had also expressed interest in Serenity Cove, which is being undertaken by SDSC, a joint-venture partnership between two of Malaysia’s largest developers, Sime Darby and Brunsfield International Group.Serenity Cove will ultimately comprise a mix of 450 apartments, townhomes and freestanding homes, as well as a mini-marina with a stunning 3800sqm retail and dining precinct fronting the centrepiece lake, known as Lake Serenity.Bordering Oyster Cove and Hope Island Resort, the development is considered the final piece of the Hope Island masterplan and will bring to life a new marine hub featuring luxury homes and designer apartments with water views.Lots in the first release are complete, allowing construction of homes to begin immediately.The parcels range from 630sqm to 1517sqm and are priced from $529,000.Project manager Mark Mehr said completion of $25 million in civil works, including a $5 million lock, over the past year had given momentum to the project.“The lock allows direct access from Lake Serenity to the Broadwater via Coombabah Creek, which was a crucial part of Serenity Cove establishing itself as a haven for boaties,” Mr Mehr said.More than a third of the Serenity Cove site, or about 27ha, is dedicated as a nature reserve while a further 10ha will become parkland. Just 19ha of Serenity Cove will be developed.Colliers International has been engaged to market Serenity Cove and will have a full display suite onsite within weeks.