Sanctuary Cove to develop luxury new residential enclave

Australia's leading master planned community Sanctuary Cove is laying plans to develop an ultra-luxury residential enclave overlooking the famed marina.

MulphaSanctuary Cove has engaged renowned architects Bureau Proberts to design thehigh-end residential project on the strategic waterfront site.

Resort owner Mulphais planning the new residences as part of its multi-million-dollar investmentand transformation of Sanctuary Cove. They will be the first residences developed on themarina for more than 25 years and the first to be located in the iconic marine village.

Greg Shaw, CEO of Mulpha International, said theproject would be launched to the market soon and meet growing demand for luxuryproduct within the community that appeal to those looking to “right size”.

“Sanctuary Cove issynonymous with luxury residential enclaves and our market research shows thereis very strong demand for a high-end apartment style offering in the marinevillage precinct catering to the “rightsizer”, owner occupier market,” said Mr Shaw.

“We have assembled aninternationally renowned team to design and create what we believe will be aniconic development located on a superb site overlooking Sanctuary Cove’s famousmarina.

“Weare very excited to be undertaking this investment to further enhance thereputation of Sanctuary Cove as one of Australia’s most diverse and luxuriousresidential destinations.”

This offering comes following the significantdevelopment works invested by Mulpha in Sanctuary Cove over the years, which exceed$300 million.

Recently this has included a $12 millionexpansion of the marina precinct, $10 million refurbishment of theInterContinental Sanctuary Cove Resort.

JohnHughes, General Manager salesand development for Sanctuary Cove, said Mulpha had taken a careful andconsidered approach to ensure this new precinct remains true to the essence ofSanctuary Cove. It adheres to the principles of exclusivity and privacy, tailoredto residents looking to right-size into luxury apartment style living.

“Webelieve the demand will be very strong from current residents living in homeswithin the resort community and from interstate buyers looking to right-sizeinto new luxury residences right on the water. The market is crying out for it,”said Mr Hughes.

Thedevelopment has been designed to complement the existing marine village with alayout that connects directly to the boat harbour and a host of retail, diningand entertainment facilities.

In 2018 Sanctuary Cove was recognised as thebest ‘Master-Planned Development’ in Australia, taking out both the nationaland Queensland, Urban Development Institute of Australia’s (UDIA) Awards ForExcellence.

The Marine Village, which offers a range of boutique shops and eateries, is witnessing rising demand for retail space as it nears 100 per cent occupancy, bucking economic trends predicted by Covid-19.

The waterside precinct is preparing to welcome a range of new tenants including a Turkish restaurant – led by a Michelin chef, a modern Asian restaurant, a Steak House and a wine and cocktail bar, set to bring new life into the prized waterside village.

For more information on Sanctuary Cove visit: https://sanctuarycove.com/.