Buyers snap up Paradise Point land offering at Sovereign Shores

One of the last beach house precincts remaining on the Gold Coast is enjoying a surge in sales activities with buyers on the northern Gold Coast at Paradise Point.

Sovereign Shores on the northern tip of Paradise Point has enjoyed more than $30 million in sales as buyers look for waterfront land in an enclave with 240-degree water views overlooking The Broadwater.

Only a handful of blocks in the first stage of 39 remain for sale.

The offering, being marketed by The Ray White Runaway Bay Group on behalf of well-known Brisbane Developer Metacap, is being developed on the location of Little Beach, a popular beach peninsula precinct opposite exclusive Sovereign Islands.

Ray White’s Ali Mian said local, interstate and international buyers looking to develop luxurious modern beach homes had shown keen interest in the first stage of the development, which only has a total of 60 lots and is being released in a limited two stages.

“The response has been very strong, particularly from local buyers who are captivated by the stunning waterside location,” said Mr Mian.

“The demand we have already experienced, coupled with the settlement of some of the early purchases, has allowed the developer to bring his attention to releasing stage two imminently.

“Land of this calibre within reach of lifestyle amenities is quite rare at Paradise Point and basically once the 60 lots are sold there will be no waterfront land remaining in what has emerged as one of the city’s most exclusive suburbs.

“We’ve even had a buyer from New Zealand secure a lot sight unseen after searching online for opportunities on the Gold Coast.”

The Ray White Runaway Bay Group general manager Ian Spurle credits the success of the Sovereign Shores land release to the flexibility that residential sites offer buyers.

“The lots are quite unique in terms of what buyers are able to build on them and this has been very appealing to our buyers,” said Mr Spurle.

“You can occupy up to 60 per cent site coverage as of right, but there’s also a zero-lot provision that allows for more flexibility in home designs and better use of the site.

“You can also go to three levels and have a rooftop garden, as well as a full basement level.

“Under this scenario, you can actually strata-title each of these levels to create three dwellings, which is quite unique.”

Sovereign Shores residents have access to marina berths that offer a bridge-free passage to the Pacific Ocean.

Resident facilities include a recreation centre, fully equipped gymnasium and the choice of three swimming pools.

Local amenities include a restaurant, bar and coffee shop, while the popular Paradise Point restaurant and shopping strip is just a short stroll away.

Sovereign Shores lots are priced from $589,000 and range in size from 400sqm to 651sqm.

Metacap was incorporated in 2005 by seasoned developer Alex Jimenez, and has since completed more than 1000 town houses, high-rise apartments, residential subdivisions and commercial developments in Gold Coast, Brisbane, Sydney and Melbourne. 

Metcap, which has a $155 million development pipeline, has successfully delivered a diverse array of developments through various economic environments, making it highly respected in the industry. 

The Ray White Runaway Bay Group has offices at Sovereign Island, Paradise Point, Runaway Bay and Pacific Pines.