Surf legend Mick Fanning lists Coolangatta apartment block
Surfing royalty Mick Fanning has listed a Coolangatta apartment block he’s renovated since buying 14 years ago.
Fanning, who stepped away from professional surfing in 2018 having won three world championships over his near two decade professional career, paid $3.1 million for the tired 1980s brick block in 2007.
Now the Boundary Street building has a coastal white facade and each of the units and granny flats have been renovated.
There are two three bedroom apartments, one on the ground level and one on the second level.
Each unit has its own granny flat at the rear of the 505 sqm block. There's a blank canvas back yard and two garages.
LJ Hooker Palm Beach agents David Lonie and Mishy Canning suggest the building can provide four incomes streams, around $770 to $800 a week for each apartment and $470 to $500 a week for the two granny flats.
Lonie and Canning have a February 7 auction on site at the block which is footsteps to Snapper Rocks. They advise there is potential for separate sales of the apartments.
Fanning will retain a foothold on the street. He owns the block of four two doors down, which he bought for $1.2 million in 2006, and the block next door to that, secured in 2005 for $1.39 million.
Coolangatta's newest developments
Miles Residences Kirra Point
Address: Corner Miles Street and Marine Paradise, Kirra QLD 4225
Prices from: $545,000
Miles Residences at Kirra Point, the luxury redevelopment of the Kirra Beach Hotel by KTQ Group, is Coolangatta's most impressive new developments. Already nearly 50 per cent of the 118 apartments have sold since their launch in December.
Designed by Woods Bagot, the project, which includes a pub and pavilion, is set to be completed in early 2023.
Address: 1 Coyne Street, Coolangatta QLD 4225
Prices from: $1.93 million
Only a few residences remain in the top end Maya Kirra Beach block of just 15 three and four bedroom residences. The building, developed by Spyre Group and completed in September 2020, only has four bedroom apartments left starting at $1.93 million.
