Cotton Beach catching eye of well-to-do
By LEONIE BRANN
PROPERTY buyers have cottoned on to the Tweed Coast, buying $45 million worth of real estate at two new Casuarina Beach developments in the last month.
The sale of a $1.675 million penthouse apartment at the $100 million Cotton Beach development, has set a new benchmark for apartment prices on the Tweed Coast.
A second penthouse apartment valued at $1.2 million has also been placed under contract since the Mutliplex Living development was launched a month ago.
So far, a total of $45 million of property has been contracted at the beachfront development, and only one penthouse apartment is yet to be sold, with a price tag of $1.45 million.
Another seven of the top-priced apartments at Cotton Beach are under contract, with 41 apartments, or one third of the total dwellings for sale, under contract, according to marketing agent Tony O'Neill of PRD Nationwide.
These sales results mean that Cotton Beach and Pandanus Pocket are two of the fastest-selling apartment developments released on the Tweed Coast and Gold Coast, according to Mr O'Neill.
Cash-rich buyers have been attracted to Cotton Beach by more than the natural beauty of the development's poster girl, former model Jodhi Mears, according to Mr O'Neill, with the lifestyle offered by the area also a major drawcard for purchasers.
"These are people who can buy a $1 million apartment anywhere from Byron Bay to Noosa, but what appeals to them about Cotton Beach is the absolute beachfront position," Mr O'Neill said. "The location (is) at the centre of the east coast's hottest new coastal destination, and 18 months until settlement."
But it is not only buyers with fat purses who are interested in living beachside on the Tweed Coast, with sales at Cotton Beach's sister development Pandanus Beach, also running hot since its launch two weeks ago.
In a fortnight $5 million worth of contracts for 13 of the 32 beach houses at the $14 million Pandanus Beach development, are already under contract.