A SLEEPY beachfront pocket in Tugun is emerging as the next “millionaires’ row” as cashed-up buyers go in search of the Gold Coast’s next best beachfront address.
There are only 24 houses opposite the beach on Tugun’s Pacific Pde, which is attracting buyers hunting a quieter slice of paradise beyond the city’s more prominent beachfront strips of Surfers Paradise, Mermaid Beach and Palm Beach.
The quiet stretch of Tugun is starting to emerge as the Gold Coast’s next best beachfront address – a beach house at 662 Pacific Pde, Tugun is set to go under the hammer.
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“Beachfront opportunities are a rare commodity and this particular precinct has been largely undiscovered and undervalued, but that is changing,” said Kollosche selling principal Michael Kollosche, who has just listed 662 Pacific Pde, Tugun.
“Events of the past two years have seen people seek out lifestyle real estate like never before.
“The southern Gold Coast has blossomed, and with so much activity and investment in this area there’s plenty of growth still to be seen.”
Cashed-up buyers are turning to Tugun in search of a quieter slice of paradise beyond the city’s more prominent beachfront strips.
He said the pocket, particularly that in the Flat Rock precinct, offered large homes for buyers priced out of the northern beachfront strips.
“It offers a lot more value compared to the central markets of Mermaid Beach, where prices are now hitting $25,000 a square metre for land on the beachfront,” Mr Kollosche said.
“When you need to move away from Mermaid Beach’s prices, the next logical step is Jefferson Avenue in Palm Beach but you do have the potential of having medium density high rises on your adjoining properties.
“So that leaves this little pocket in Tugun, which has low-density living and is very private and exclusive.”
The beach views from 662 Pacific Pde, Tugun.
Harcourts Coastal southern beaches specialist Ed Cherry said the entire Flat Rock to Bilinga strip had become highly desirable.
“Houses in this area are so tightly held that when something goes on the market, it is highly sought-after by buyers,” he said.
“A lot of locals are moving here to get closer to the beaches because of how quiet they are and properties, comparative to other prized pockets, still offer value for money.
“It’s like a two-way Jefferson Lane, with the added bonus of having boutiques, restaurants and cafes at either end.”
159 Hedges Avenue, Mermaid Beach sold for $21 million.
The predictions follow a string of mega sales in the traditional hotspots already this year, including three house sales on Hedges Ave for $13.51m, $14.5m and $21m, and one on Jeffeson Lane for $11m.
“Owners along the beachfront strips are affluent, so money is not really an incentive to sell their property,” Mr Kollosche said.
“They know that with limited turnover it’s very difficult to get back in once you sell.”
Even if the broader market softened, Mr Kollosche said it was unlikely to impact blue-chip beachfront real estate.
“You will just see a slowdown in turnover rather than people selling their assets at reduced prices,” he said.
1/1 Enderley Avenue, Surfers Paradise sold for $6.1 million.
Units further north in Surfers Paradise have also been selling well with a $6.1m sale inked this month for the The Beach House, in the Allure Building, sold at auction through Tolemy Stevens of Harcourts Coastal.
“Some parts of the market may be seeing a slight slowdown in numbers and interest, but the beachfront continues to defy market trends,” Mr Stevens said.
Epic beach house to go under the hammerA JAW-DROPPING Christ Clout-designed beach house on the southern Gold Coast is set to go under the hammer in a renewed marketing push.
Set in an exclusive beachfront pocket of Tugun, the modern coastal family home known as Pacific is owned by locals Madonna and Tim Delaney.
Madonna Delaney and her family own Pacific House in Tugun. Madonna and Tim Delaney with their twin boys Kane and Cory, and daughter Tara. Picture: NIGEL HALLETT
The Delaneys were in the market for a holiday home when they came across the Pacific Pde block in 2014 and decided to build a home which made them feel like they were on holiday every day.
Pacific was the product of a detailed four-year planning, design and approval process, resulting in the one-of-a-kind vertical design on the hill in the Flat Rock precinct of Tugun.
Set one house back from the ocean, it was built by respected Gold Coast builder Mactech Constructions
662 Pacific Pde, Tugun.
A pool with a view!
The pool – on the third storey and cantilevered towards the ocean so that it appears to float – is its real wow feature.
“The finishes and style make it feel like a holiday home, but the design is much like a
penthouse in that the house takes up most of the block, so there’s no maintenance,” Ms Delaney said.
Inside the beach house Pacific.
Pacific is a sight to behold.
But it’s the location that takes life in this beachside property to another level, according to Ms Delaney.
“I grew up on the Gold Coast and to me, Tugun is a taste of what life was like as a kid,” she said.
“The pace is slower and it’s pretty much the last bastion of low-density residential living
along the Gold Coast coastline.”The property, which has been on the market with other agencies, was under offer last year, but the contract fell through.
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