Cove on course for growth

Sanctuary Cove is experiencing an upsurge in resale activity on the back of Ray White’s intensive international marketing strategies and developer Mulpha’s ongoing investment in the $2 billion master-planned community.

Ray White Sanctuary Cove, which is part of the Ray White Surfers Paradise Group, has been responsible for numerous high-priced sales behind the gates in recent months, including a $6.1 million dollar deal.

RWSP Group CEO Andrew Bell says intensive marketing strategies targeting local and international markets had led to an increase in sales volumes and in some cases, prices.

“Print and digital marketing strategies have proven essential in getting the best prices for vendors,” Mr Bell said.

“There is a lot more to finding a buyer than advertising a property on the internet – there are many types of buyers and a large portion are passive buyers, many of whom aren’t scouring internet sites for property.

“There are other ways of finding these buyers, and that has been our focus.

“Our marketing efforts aren’t restricted to the Gold Coast, we’ve tapped into national and foreign markets – the idyllic nature of Sanctuary Cove has a wide reaching appeal.”

Mr Bell said the developer of the community, Mulpha, had also channelled significant funds into the project, namely the Marine Village commercial hub.

“The retail and dining offering within the Marine Village is world-class – it’s one of the true ‘villages’ of the Gold Coast and its charm certainly resonates with both owner occupiers and lifestyle investors,” he said.

Mr Bell said the 24 hour manned security also played a big part in attracting buyer interest.

“The safety factor is a huge part of the appeal. The 24-hour manned security provides residents and guests with comfort,” he said.

Mr Bell said the community had also experienced an upswing in bookings through the company’s holiday letting arm.

“This goes hand in hand with growth in the Gold Coast’s tourism industry, but also highlights the fact holidaymakers are increasingly gravitating to the northern end of the Gold Coast.”

Ray White Sanctuary Cove sales specialist Matt Gates said recent international and national interest in the community had been instrumental in driving sales activity.

“On average we’re transacting six to seven properties a month at Sanctuary Cove,” Mr Gates said.

“There is a lot of activity in the $2 million to $3 million bracket which is a telling sign of the strengthening of the prestige market.

“Stock levels are dropping and while there is still a diversity of housing stock on the market, it has significantly reduced across all sectors in the past six months.”

Some of Ray White’s $1 million plus sales at Sanctuary Cove this year include:

–        7309 Bayside Close – Sold for $6,100,000

–        2094 The Circle – Sold for $4,950,000

–        2225 The Masters Enclave – Sold for $2,750,000

–        5719 Anchorage Terrace – Sold for $2,450,000

–        6266 Broken Hills Drive – Sold for $2,250,000

–        4709 The Parkway – Sold for $2,100,000

–        8063 Riverside Drive – Sold for $1,600,000

–        7387 Marine Dr East – Sold for $1,500,000

–        4911 Berkshire Crescent – Sold for $1,000,000