The first Whitsunday’s development in over a decade, Shute Harbour inundated with inquiries following launch to market
The Whitsunday Lakes Trust, $350 million Shute Harbour development has been inundated with enquires, amassing a whopping 520 expressions of interest in just four weeks following its national launch to market.
As the Whitsunday’s first major resort development in over a decade, the stage one release has been met by a swarm of interested buyers, eager to put their name to one of the 58 land and berth packages in one of the most sought-after sailing locations across the world.
Render of the proposed Shute Harbour Marine precinct development in the Whitsundays Lakes Estate. Image supplied.
Rob Taylor of Taylors Property Group said the latest wave of interest has come off the back of the Sanctuary Cove Boat show which accounted for 10 per cent of the enquiries to date, with the vast majority coming from boating enthusiasts who recognised the value of large-scale berths in the Whitsundays region.
“The immediate market response to the resort has been incredible. We knew we had something special on our hands here, but we have been simply inundated with genuine interest – it’s been a whirlwind,” said Taylor.
“We’re already in the process of converting many of these enquiries into contracts for our future Shute Harbour Marina Resort residents.
“Many of these buyers have been long awaiting a marina project of this calibre to arrive in the area. Large scale berths are difficult to secure along the coast right now – all nearby marinas are close to capacity for the forthcoming season.”
Once complete, the Shute Harbour Marina Resort will encompass a 395-berth marina with individual berths ranging from 10-metres to 30-metres on a 99-year lease, in addition to private berths ranging from 25-metres to 45-metres.
Render of the proposed Shute Harbour development in the Whitsundays Lakes Estate. Image supplied.
The project will also deliver a 100-plus room hotel resort, with function and meeting rooms, bars, restaurants, a swimming pool, and undercover parking, along with 58 freehold land allotments, and 100 managed apartments with resort club facilities.
The free-hold residential waterfront sites cover 440 sqm and are earmarked for two- and three-storey design concepts.
According to Taylor, the enquiries have come from a broad demographic of parties, including veteran boating enthusiast, first-time boat owners, and future retirees.
“We’re seeing the project timeline align with those buyers looking to lay the foundations for future plans two to three years down the line – whether that’s retirement, or the eventual purchase of a larger boat,” he said.
The land and berth packages have arrived to a market limited in supply for waterfront lots. With just 28 vacant residential waterfront lots currently available in the area, almost half of these are not located within or close to a marina development.
Render of a proposed waterfront home interior. Image supplied.
“Although the property market in the Whitsundays has increased about 20 per cent over the past 12 months, units are still about 25 per cent below their 2007 peak and land is only just matching the levels of 15 years ago,” added Taylor.
Development of the first stage of Shute Harbour Marina Resort, which will include the marina and the stage-one release of land and marina berths, is expected to take two years to complete with construction targeted to commence in 12 months.
Expressions of interest are also being taken on future stages which will include marina loft apartments and plaza terrace homes.
