Whether you’re looking to invest or nest in south-east Queensland, Runaway Bay is an attractive waterside location with a lot to offer.
It is one of the most beautiful and secluded suburbs on the Gold Coast, with an abundance of natural beauty and leisure attractions.
Plus, with new premium residences available on the water in the heart of Runaway Bay, it’s well worth a look.
A golden opportunity
When people think of the Gold Coast, they typically picture Surfers Paradise or Burleigh Heads.
But with booming interest in south-east Queensland property, buyers are now looking for the next hidden gem – and Runaway Bay is turning heads.
“It’s a beautiful suburb,” says PropTrack economist Anne Flaherty.
“It’s got everything buyers want, and it’s very close to some of the most popular beaches, but it’s not as touristy as further down south.”
Runaway Bay is a predominantly waterfront suburb with many homes within walking distance of a canal.
Central to the Gold Coast’s north, it’s only 10-15 minutes from Southport and Main Beach in one direction, and Paradise Point, Hope Island and Sanctuary Cove in the other.
The high-end Marina Mirage is also nearby, with beautiful boutiques and restaurants, and several golf courses are in easy distance.
Trendy cafes, waterfront restaurants and shopping options are dotted throughout the suburb, which is also well-appointed for schools, universities and hospitals.
Flaherty says it is an area people are increasingly noticing – especially with surging interest in coastal locations since the pandemic.
“Units in Runaway Bay have increased 5.4% over the past 12 months,” she says.
“Properties in Runaway Bay are also generating a very high rental yield of 5.2%.”
The median price for houses in Runaway Bay has risen by 46.3% in five years, up to $1,441,000 from $985,000 – with waterfront homes in the suburb fetching a multimillion-dollar premium.
Runaway Bay has a new luxury development with prime canal-front positioning, a “very rare” offering, says Sand Side Developments managing director Mr Malouf.
Ocean Suites on Jennifer comprises just seven boutique residences that offer absolute waterfront living, with amenities that epitomise sophistication and luxury.
“We chose this specific location due to its wide water frontage, proximity to the Broadwater and local shops,” Malouf says.
“It’s also a quiet street with beautiful parklands and beach on the shores of the Broadwater just a couple of houses away.
“We think our buyers will really enjoy living here.”
Set over four floors, each home is designed with waterfront living in mind and has multiple sitting areas where residents can enjoy the high life.
“Not only is the location amazing, but these are very unique in how much outside living space they have,” Malouf says.
On the ground floor is a 10.5sqm outdoor terrace with built-in seating, a fireplace and bordered with a beautiful pool.
This area leads down to a private jetty.
“You can literally walk out of your home into the jetty, jump in your boat and be out on the Broadwater in 30 seconds,” Malouf says.
“In other areas on the Gold Coast, you have to go through all the canals, which can take 40 minutes just to get out to the ocean.”
Malouf says locals often visit Wave Break Island on day trips or head to the Marina Mirage for premium dining and shopping.
Opulence inside and out
The lavish Ocean Suites development features a luxe coastal aesthetic and meticulous design, with 350sqm-plus floorplans that maximise natural light, airflow and ocean views.
But they also boast functionality, including an impressive four bedrooms and four bathrooms in each residence.
Malouf says the open-style kitchens feature a spectacular oversized stone island bench, which has to be craned into place.
This is matched with two chef-grade Bosch ovens, an integrated fridge, a European wine fridge and a roof void where sunlight streams in.
“You can have your guests sitting there and entertain them while you’re cooking or serving drinks,” Malouf says.
He adds that zoned living has been a pivotal focus, with sitting and entertaining areas on every level. There’s also an indoor sunroom that faces north to catch the most light.
On the rooftop, there’s a sun deck area with a gas strut window for seamless indoor-outdoor living, plus a bar area.
The spacious bedrooms have walk-in robes and glamorous bathrooms with soaking baths.
Malouf says Ocean Suites has received plenty of interest.
“We only have four available, with three already on hold,” he says.
Article source: Queensland Property Investor
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