Sanctuary Cove is planning to develop an ultra-luxury residential enclave overlooking its marina, and has engaged architects Bureau Proberts to design the high-end residential project on the waterfront site.
Resort owner Mulpha is planning the new residences as part of its multi-million-dollar investment and transformation of Sanctuary Cove. They will be the first residences developed on the marina for more than 25 years and the first to be located in the iconic marine village. Greg Shaw, CEO of Mulpha International, said the project would be launched to the market soon and meet growing demand for luxury products within the community that appeals to those looking to “right-size”.
This offering comes following the significant development works invested by Mulpha in Sanctuary Cove over the years, which exceed $300 million. Recently this has included a $12 million expansion of the marina precinct, $10 million refurbishment of the InterContinental Sanctuary Cove Resort. John Hughes, General Manager sales and development for Sanctuary Cove, said Mulpha had taken a careful and considered approach to ensure this new precinct remains true to the essence of Sanctuary Cove.
“We believe the demand will be very strong from current residents living in homes within the resort community and from interstate buyers looking to right-size into new luxury residences right on the water. The market is crying out for it,” said Mr Hughes. The development has been designed to complement the existing marine village with a layout that connects directly to the boat harbour and a host of retail, dining, and entertainment facilities.
Located on the northern Gold Coast, the $2 billion Sanctuary Cove Resort was named Australia’s best ‘Masterplanned Development’ in the Urban Development Institute of Australia (UDIA) 2018 National Awards for Excellence. The coveted award follows the development’s 2017 state title win as best ‘Masterplanned Development’ at the UDIA Queensland Mitchell Brandtman Awards for Excellence.
Sanctuary Cove is Australia’s largest master-planned development, and is one of the last remaining developments in Australia which offers an exemption from Foreign Investment Review Board (FIRB) restrictions, allowing overseas buyers to invest in vacant land without assessment.
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