$22 million in sales for Shute Harbour Marina in just 8 weeks

WORDS: Madison Cooper PHOTOGRAPHY Supplied

WHITSUNDAY’S FIRST MAJOR RESORT IN A DECADE INUNDATED BY BUYERS NOTCHING ALMOST $22 MILLION IN JUST 8 WEEKS

The Whitsundays’ first major resort development in over a decade has been inundated by a deluge of eager buyers who have been quick to put their name to a rare slice of luxury living in one of the world’s most sought-after sailing locations.

The stage one release of the $350 million Shute Harbour Marina Resort has generated more than $21.5 million in sales contracts issued and over 600 enquiries following the project’s stellar launch to market just 8 weeks earlier.

Established business owners, sea-change seekers, retirees, and avid boaties have led the charge on the 58 land and berth packages up for grabs.

“The immediate market response to the resort has been incredible. We knew we had something special on our hands here, but we have been simply inundated with genuine interest – it’s been a whirlwind,” said Rob Taylor of Taylors Property Group.

“A large portion of these purchasers are boating enthusiasts who recognise the rarity in such a premier berth location, or those from southern states who have been enticed by the lifestyle offering presented by the resort.”

The most significant transaction to date is the $2.55 million sale of a land and 35m berth package.

The latest influx of interest has come off the back of the Sanctuary Cove Boat show which accounted for 10% of the enquiries to date, the vast majority coming from boating enthusiasts who were quick to recognise the rarity and value of large-scale berths in the Whitsundays region.

“A lot of avid sailors have been long awaiting a marina project of this calibre to arrive in the area. Large scale berths are difficult to secure along the coast right now – all nearby marinas are close to capacity for the forthcoming season,” said Mr Taylor.

Once complete, the Shute Harbour Marina Resort will encompass a world-class 395-berth marina with individual berths ranging from 10m to 30m on a 99-year lease and private berths ranging from 25m to 45m. The project will also deliver 58 freehold land allotments; a 100-plus room resort hotel, including function and meeting rooms, bars, restaurants, swimming pool and undercover parking; and 100 managed apartments with resort club facilities.

According to Mr Taylor, the project’s delivery has made is an attractive choice to those still working towards making the Whitsundays dream a reality.

“We’re seeing the project timeline align with those buyers looking to lay the foundations for future plans 2-3 years down the line – whether that’s retirement, or the eventual purchase of a larger boat,” he said.

The land and berth packages have arrived with impeccable timing to a market scant with supply for waterfront lots, with just 28 vacant residential waterfront lots currently available in the area and half of these are not located within or close to a marina development.

“Although the property market in the Whitsundays has increased about 20 per cent over the past 12 months, units are still about 25 per cent below their 2007 peak and land is only just matching the levels of 15 years ago,” said Mr Taylor.

The currently selling land and berth packages will include private marina facilities to accommodate boats from 25m to 45m. The free-hold residential waterfront sites of 440sqm are earmarked for two- and three-storey design concepts.

Land-and-berth prices start from $1.75 million. Expressions of interest are also being taken on future stages which will include marina loft apartments and plaza terrace homes.

Development of the first stage of Shute Harbour Marina Resort, which will include the marina and the stage-one release of land and marina berths, is expected to take two years to complete. Construction is targeted to commence in 12 months.