Perfect package – new luxury developments in holiday locations

At Coolum, a 30-minute drive along the coast on David Low Way, Brisbane-based developer Mosaic Property Group has just completed Drift and is soon to launch First Bay, two luxury apartment buildings within 200m of each other.

Owner-occupiers accounted for 85 percent of Drift’s sales, of which 15 percent were downsizers. The remaining 15 percent were investors.

First Bay has attracted more than 500 expressions of interest from eager boyers ahead of its official launch.

“We are seeing a strong trend for owner-occupier product across our projects, most certainly on the Sunshine Coast,” Mosaic Property Group managing director Brook Monahan says. “Drift was the first project to be released to the local Coolum market in a decade – there was incredible pent-up demand for new, high-quality product, designed for the owner-occupier.

“This was one of the reasons we expanded to the region – we saw an opportunity to meet an under-catered market segment.”

Drift has plenty of house-like details and Mosaic’s in-house design team has focused on upmarket includes, with oak timber floors, custom joinery, large private balconies, and top-of-the-range European appliances.

“This approach appeals to owner-occupiers, particularly downsizers, as it makes the idea of moving from a house easier to handle, and they also see that these considerations add value to their investment,” Monahan says.

“We also focus on creating boutique luxury projects rather than large scale – something that also greatly appeals to owner-occupiers.”

Source: The Weekend Australian, 12-13 October 2019