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Whitsundays Property Market Coming Alive

By Ray White Whitsunday

Carol Carter of Queensland Sotheby’s International Realty and Mark Beale of Ray White Whitsundays discuss the Whitsundays market and three outstanding sales in the last year.

The property market in the Whitsundays is thriving with three stunning residences sold in the last year and many more to come, according to Carol Carter, senior sales executive at Queensland Sotheby’s International Realty and Mark Beale, principal and director of Ray White Whitsundays.

Ms Carter and Jacqui Wakerley of PRDnationwide partnered to sell Botanica, while Ms Carter and Mr Beale partnered to sell Mandalay and Aqua; each property with its own captivating story.

Botanica

Located on the edge of the Coral Sea at 119B Botanica Drive, Woodwark, Botanica took decades of planning.

Ms Carter told WILLIAMS MEDIA the whole estate was a dream the owners Ralph and Janet Hogan had, and they developed it with Botanica adjoining.

Ralph was the architect and Janet designed the interiors.

119B Botanica Drive, Woodward sold by Carol Carter of Queensland Sotheby’s International Realty and Jacqui Wakerley of PRDnationwide, as seen on Luxury List

“Botanica has been operating as a wedding venue for many years and it will continue with the new owners.

“They intend to keep the same team so the quality as the venue remains the same which is really important.”

Ms Carter said the owners can live in Botanica while it operates as a business. The property also has bridal suites, and amazing gardens and surrounds.

“You can have your wedding on the veranda, the terrace outdoors, or in the garden.”

Related reading: Tasmanian property boom rolls on: $1b property sales record June quarter

Botanica was set to go to auction on Monday in Sydney, but was sold just prior for $7.080 million.

“The buyers were an Australian company, with an Asia Pacific background.

“The beautiful thing is Sotheby’s has the ability to target international buyers.

“This is the third significant sale in the Whitsundays in the last seven months, which is very good for the area.”

Mandalay

Mandalay house in Airlie Beach has been featured on the television series “Unreal Estate”, and was settled in November 2017 without going to auction.

The buyer was a Sydney businessman, and the home was sold for $14 million according to RP data.

Mandalay House, Airlie Beach sold by Carol Carter of Queensland Sotheby’s International Realty and Mark Beale of Ray White Whitsundays, as seen on Luxury List

Ms Carter said the home was promoted throughout Sotheby’s 950 international offices in 70 countries, with some expat interest.

Mandalay house was a rare opportunity as there is no public access to the water or beach front of the property.

In Australia it is no longer possible to build a residence with a private ocean front wall marina.

Aqua

This home is an architectural masterpiece with a futuristic feel, located at 4/383 Mandalay Road, Whitsundays.

It has one of the largest private pools (40m long) in Australia, a large private rainforest garden, and helicopter arrival to helipad.

Residential home in Airlie Beach, Australia (Photoy by Robert Walsh)

4/383 Mandalay Road, Whitsundays sold by Carol Carter of Queensland Sotheby’s International Realty and Mark Beale of Ray White Whitsundays, as seen on Luxury List

Ms Carter said the home didn’t go to market, and was sold through Sotheby’s and Ray White connections.

“The property was just settled last week, and sold early this year to a Melbourne based business man.”

Aqua was rumoured to be sold for well over $12 million.

Whitsundays market

Mr Beale told WILLIAMS MEDIA he has been getting many enquiries and is starting to see interest come back again.

“Our office has nearly $30 million on the table for development site offers.”

For the first time in ten years development sites are starting to sell.”

He said from 2003 – 2005 the enquiry level for development sites was quiet high, and were selling in the lead up to the GFC in 2007 for up to $10 million.

After the GFC prices plunged and sites were selling for as low as $2 million.

“Now our sales figures in the dollar values are up 40 per cent in the last financial year compared to the year before, and we have had 25 per cent increase in the number of sales.”

“We had over 300 sales in the last financial year compared to 250 in the previous year.”

“Developers are now looking at off the plan sales. The first person to get into it is Colin Hounsell in the Port of Airlie.”

Mr Beale said there are 11 apartments and six have already sold off the plan.

“Overall the Whitsundays is poised for a good five to ten years.”

Related reading: “Confidence is well and truly back” in South Australian market

“The islands are coming back online shortly with new owners who are planning to spend a lot of money.”

“We are still at 2005 prices but the returns are much better than they were back then,” he continued.

“You are buying at a low base but the returns are better and the interest rates are half or a third of what they used to be. The numbers all around are stacking up for everybody.”

Ms Carter said there is a movement in the market in the Whitsundays, with substantial interest from overseas in particular.

“It is one of the most beautiful, pristine regions in the world, and it’s becoming more well known.

“Australia has three things going for it in terms of an international market – it’s safe politically, safe economically, and safe personally.

“More people are looking for that throughout the world.”

Source: therealestateconversation.com.au

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