Noosa beach pad sells for record
A BEACHFRONT apartment in Noosa's glamorous main street has sold for a record $8.25 million before even hitting the market.
The penthouse-style, whole-floor property has beaten the previous highest sale price for an apartment on Hastings Street by $500,000.
Prestige property agents say records are tumbling in Noosa Heads following a resurgence in buyers snapping up beachfront property in the wake of recent interest rate cuts and looser lending criteria.
Mal Cox of Tom Offermann Real Estate said he sold the property at 2/23 Hastings Street offmarket to a Melbourne buyer on his database.
Mr Cox said the three-bedroom apartment sold in just 10 days because of the strong interest for quality, beachfront apartments.
"We've got a list on our database of people who've missed out on being able to purchase high-class, quality Hastings Street beachfront properties," Mr Cox said.
And Tom Offermann of Tom Offermann Real Estate expects records to again be broken following the listing of another absolute beachfront apartment on Hastings Street.
The three-bedroom, 240 sqm apartment in Noosa Court at 6/55 Hastings Street is on the market with a price guide of $11 million.
Mr Offermann said it was the first apartment to be offered for sale in the building of six in more than a decade.
The last apartment to sell on Hastings Street was in the prestigious La Mer building at 5/37 Hastings Street.
That property fetched $6.1 million in March this year.
And the penthouse in La Mer at 11/37 Hastings Street sold for $7.2 million in October last year through Richardson & Wrench.
Mr Offermann said Noosa's Main Beach was one of only a few north-facing beaches on the east coast of Australia, which was why it was so sought-after to live there.
"Noosa has an amenable subtropical climate and a town brimful with natural assets which turns holiday-makers into property buyers, something I have experienced over 30 years," Mr Offermann said.
"This coupled with the Noosa apartment market topping the country for capital growth over the last year at a rate of 24.8 per cent, the trend is continuing.
"The investment potential speaks only of enviable financial success for those who are fortunate to acquire their piece of Noosa Heads' hottest real estate."
Originally published as Noosa beach pad sells for record