Large property near famed beach strip attracts interest from Asian developers

A rare large waterfront property within touching distance of Noosa Main Beach has attracted interest from around the world after hitting the market at almost $20 million.

No.7 Noosa Parade, which includes a 1980s apartment block, has garnered plenty of attention because of its size and location.

The property is one of the largest at exclusive Noosa Sound, at 1120sqm, and it is just across the canal from the glitzy beach strip at Noosa Heads.

Tom Offermann Real Estate property sales agent Jesse Stowers said it was perfectly positioned.

“You can literally just walk across the bridge to Hastings Street and Noosa Main Beach within a couple of minutes,” he said.

“Hastings Street is a showstopper for Noosa, with its shops, cafes and restaurants next to the beach.

“To have all that within a stone’s throw away from your doorstep is really desirable.”

Mr Stowers said the property, which also has direct waterfront access and is bordered by parks, had attracted attention from overseas.

“We had some Chinese developers have a look at it on Tuesday, which was interesting, and they are assessing,” he said.

“We’ve also had offers on the site, but it’s a very unique property so it will just be a matter of time before we reach an agreement and the right person secures it.”

The property includes a block with three renovated apartments.

Mr Stowers said an eventual buyer could keep the block or knock it down and build something more modern.

“It’s medium density (zoning) so they can either develop it for apartments, or it could be the site for a luxury house,” he said.

“We have clientele that want something special, and they have the capacity to buy something special, so I think the real demand will be (to build) two or three luxury apartments or a luxury house.”

Mr Stowers said there was “real demand for larger luxury apartments in Noosa” but a new house would be something special.

“It’s only one of a handful of sites at Noosa Sound that is over 1000sqm, so you could build a substantial house on that,” he said.

“I would expect a new home in that position to be worth about $35m.”

An artist’s impression of a lavish new home on the site.

A concept design has been created for the site by renowned designer Chris Clout.

The current owner owned one of the units before buying the others and deciding to sell.

A four-bedroom house on 713sqm at Noosa Parade sold for $27m last year, while a five-bedroom home on 612sqm and a four-bedroom house on 810sqm at nearby Mossman Court sold for $23.5m and $20.1m in 2022 and 2021 respectively.

No.7 Noosa Parade boasts more land and is closer to Hastings Street and the beach.

Auction results

269 Diamond Valley Road, Diamond Valley

Passed in at $2.1m, contact agent

5 Bed, 4 Bath, 4 Car, Pool

Ray White (Nambour), Matt O’Grady and Alisha Galea

10 Deejay Street, Maroochydore

Sold under the hammer for $770,000

3 Bed, 1 Bath, 1 Car

Ray White, Pam Thomas & Megan Murray

2 Nagari Place, Warana

Passed in at $1.7m, contact agent

3 Bed, 2 Bath, 2 Car, Pool

Ray White (Maroochydore), John Bartsch and Adam Budd

21 Murray Grey Drive, Kureelpa

Passed in at $1.05m, contact agent

4 Bed, 2 Bath, 4 Car

Ray White (Nambour), Matt O’Grady and Alisha Galea

331 Bradman Avenue, Maroochydore

Passed in at $950,000, now on the market for $1m

4 Bed, 2 Bath, 2 Car

Ray White (Kawana), Dan McNamara

Article source: Queensland Property Investor

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