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The Port Report - Dec 2003
Ray White Expansion in Port Douglas
Monday 20th October, saw the Grand Opening of our new Ray White office which is prominently situated in the Four Mile shopping Plaza at 366 Port Douglas Road. Our prestigious new office offers our clients a new concept in professional Real Estate services, together with a level of comfort and confidentiality that was not previously available to the people of Port Douglas.
The licensee for this office is Mel Rogers who for almost 30 years has been involved in the Real Estate industry in Australia, New Zealand and overseas and presently holds full Real Estate Licences in both Queensland and New South Wales. Specialising in Residential and Investment sales, Mel is experienced in the marketing of property throughout Australia, Hong Kong and New Zealand. He has moved to Port Douglas from Sydney as a permanent resident, and he joins Ray White Port Douglas with a great deal of enthusiasm and confidence for the future of his new role as Licensee / Manager of our prestigious new Ray White Port Douglas office.
Auctions
It’s been a busy month for Auctions with Ray White Port Douglas in Port Douglas. This is all in line with the companies favour for vendors to take their property/land to auction. When advertised correctly, Auctions are an excellent way for the vendor to get a price at true market value. Sales Consultant Travis Schumacher recently executed a successful Auction at Cooya Beach. Two 800 square metre blocks were up for grabs, which enthusiastically went for $86,000 and $93,000. There was a good attendance of both phone bidders and local bidders. Two local bidders were finally successful.
Market Summary
Demand for both residential and investment properties within the environs of the Port Douglas Township remain extremely high, and this is creating a disproportionate shortage of available property in and around the township. However a changing pattern for both residential buyers and investors is now emerging, as the boundaries of interest expand out to and beyond Four Mile Beach. With the planning of several large medium density developments well advanced for the Four mile beach district, and recent sales in the area of $725K and $1.5 M respectively, it all augers well for the rapid growth and popularity that is seen by many as the long term future of the Shire.
Some serious selling has occurred since our last newsletter.
Driven by a generally buoyant southern market (which is now showing signs of slowing) the high sales period for Port Douglas property of July – October delivered in spades. Demand was strong across all price ranges and all types of property. Not only were interstate and overseas buyers active but also the locals were keen to stake a claim or two in the name of free enterprise.
Off the Plan developments sold well. HAVANA and SEA TEMPLE have been documented as having received in excess of 50% pre-sales. Construction has begun at HAVANA. Even better has been AQUEOUS, a 38 holiday apartment development planned for a site across the road from our Macrossan Street office. Pre-sales have secured 35 of the apartments without a sod being turned on the site. A Developer’s dream come true. Construction is due to start in the New Year.
Smaller 3 to 6 villa properties have also been on offer under the “Off Plan” proposal with some good buying still available at SAVANNAH & SOLANA, however selections are becoming limited.
Notable Sales
- Solander Blvde: Beachfront 2-storey home with potential plus. Listed for $1.7M and sold for an undisclosed figure. After some astute renovations could easily be worth $2.5M, in this commentator’s opinion.
- Sheraton Mirage Prime position villa reportedly sold for $1.25M. Despite some grumbles about looking its age this prestigious property is sound buying. Plenty of interest also in the BEACHFRONT MIRAGE sub division, which is easily over 50% sold. Construction has started on the first homes in this now completed quality, gated community.
- Plantation House Located on the beach at Solander these 3 and 4 bedroom villas were completed 14 months ago with buyers paying between $600K and $700K per villa. Two have resold in recent times for between $1.1M and $1.2M. If that’s not capital gain, We don’t know what is. We believe there is more in these properties, given their popularity and location.
- The 5th Fairway These half dozen homes have been well marketed for a full year to date but potential buyers it seems have been more attracted to the managed properties of Havana and Sea Temple. This was despite the innovative design of these freehold homes, the attractive location and the generous 1100sqm lots. Eventually two sold for between $950K and $1.1M. The Mitre St enclave generally, is bounding ahead with plans for development on all sides, so it’s not if, but when will this picturesque spot take off. If the high standards continue the potential to be one of the most sought after addresses in Port Douglas is self-evident. We have on offer at this stage a fantastic property on The 5th Fairway.
One of the attractions of this type of purchase is the ability to secure a property now with a relatively small deposit (a deposit bond is even better) and not have to pay the balance until completion of construction. This timeframe can range from 6 months to 2 years on current properties on offer in Port Douglas. At the other end of the scale prices spiked for properties that would have been lucky to have sold for $100k last year. The 1980’s constructed 1-bedroom units (holiday or private) are hard to find now under $125K whilst two bedders are $50K more. Recently built units – 2/3 years old - are $250K plus. These are starting prices. A well performing two bedroom holiday apartment close to town is selling for between $300k and $600k.
The lowest price home for sale in Port Douglas at this time is a three bedroom, 1 bathroom lowset home in Reef Park, which is near the Habitat. The house was built about 11 years ago and is in good condition. The property is rented until June 2004 @ $270 per week and is for sale at $320K. The average home price has risen some 20 – 30 % in the last 12 – 18 months.
The most interesting home site currently for sale is absolute beachfront in Baler St Four Mile. The cute cottage sits on 647sqm of land and enjoys arguably the best views of any location on the Four Mile Beachfront. This property is listed at $2.75m. Further information.
Properties that should have sold
- Coral Drive: This tropical home is full of style, quality and grand proportions and is located only 100 metres from beautiful Four Mile Beach. Step inside this magnificent home to be greeted by the grand staircase and the ambience throughout. The ground floor of this residence has four bedrooms which all open onto the tropical verandahs that surround this home, and the 3 bathrooms on the ground floor service the bedrooms. The outdoor verandah overlooks the pool and tropical gardens, and has enough room to relax or to entertain your family and friends. This home is irreplaceable and needs new owners to enjoy it.
- Regal on Macrossan: n town, this is a great dual key holiday apartment overlooking the pool and mountains, less than four years old occupying a key position on the top floor with the ability to be rented as two x one bedroom apartments or one x two bedroom apartment. An excellent on site management team has produced a Net of $26,000 plus p.a., even with high owner and friends use. Listed for sale at $ 460K and vendor will consider reasonable offers. Should have been snapped up 3 months ago, went to contract a month ago and fell over. You should contact one of our sales consultants now if you like the sound of this one.
Latest or Notable Listings
- Fantastic Value: This is a fantastic opportunity, to own a low site home on a 1-1/4 acre plot, only a short walk to the beach and local shops, in what is becoming a very popular beach suburb. Offering a well-designed layout of three bedrooms, a large kitchen/living dinning area and two bathrooms.
- Julatten Hideaway: This very comfortable single storey brick home offers three bedrooms and one good-sized bathroom, plenty of living space both inside and out plus privacy, at the end of a 250 metre drive.
- Birdwing Street Port Gardens: Why Build? It’s all here in Port Gardens, look no further than this established family home in Port Gardens that allows you to just move in, relax and enjoy!
- Quest Resort Port Douglas: Located on the corner of Port Douglas Road and Mahogany Street, Quest Resort is an easy distance to the bustle of the main street, the Marina Mirage complex, and beautiful Four Mile Beach.
- Opportunity in Cape Tribulation: The high set timber home is 10 years old with 3 bedrooms, two bathrooms an office and expansive living area upstairs. The ground floor contains a two bedroom B & B unit, car parking and laundry facilities. The B & B license is currently for 4 persons with the ability to extend to 8 if required. The property area is 1.59HA (approx 4 acres) of mainly cleared land.
- Escape the winter blues: There is an elegant, European feel about this well proportioned home, yet it is designed with the tropics in mind. From the moment you pass through the security gates that serve the private estate of only four villas, to the minute you throw off your shoes and slip in to the relaxing waters of your own, secluded pool, your senses will be soothed. Ask for new price details.
- The Sunrise is perfect in Morning Close: Fantastically presented 2 bedroom apartment is a must see. It boasts pool views with plenty of space for outdoor dining or entertaining with privacy. This property is ideal for an occupier as it presents immaculately and can be moved into at the buyer’s convenience, or it could alternatively be sold to an investor looking for a property that stands out from the crowd. This property is a must see.
- Bali in Port: Relax in the cool tropical comfort of this Balinese influenced open plan home. Open the sliding doors, and dine near the glistening pool in complete privacy, in your own oasis just a few minutes walk from the beach.
- A Peach of a Property at Four Mile: A three bedroom spacious residence that presents immaculatey, the pictures say it all, and with direct access to the beach from the backyard, it is sure to attract a lot of attention.
- 77 Acres Of Prime Farmland: With interest growing rapidly in the Mossman district, demand for good acreage is increasing to the extent that farms close to town are becoming harder to find.
- Santa Fe a home of rare distinction located in a most desirable position. Featured in the prestigious publication House & Garden “Santa Fe” was considered to be at the cutting edge of home design, being nestled in a residential street just off Four Mile Beach, this property today is in a much sought after location.
Property Management Alert
Please accept this as notification of a change to the Management Agreement that exists between us. Under the Terms and Conditions, please add clause 7.8, which now reads “without limiting the generality of clause 7.7, the agent is not responsible for identifying or reporting any latent defect in the premises, any defect in a floor surface in the premises, or the maintenance or cleaning of a floor surface in the premises”.
As most of you already know, even though I am the Principal of the business, my area of expertise is in property management and I have always been involved with you as land-lords. My aim is to guarantee the quality of service that this agency has undertaken to provide, so please do not hesitate to call me directly with your property management en-quiries, however insignificant they may seem.
Regards Margaret
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