Mariner's Peninsula, the recently completed luxury residential building in Townsville, is now completely settled with more than $75 million in apartment sales finalised.
Developer, national publicly listed property company, Mirvac, says the finalisation of settlements is a strong vote of confidence in the development and also the overall Townsville property market. Mariner's Peninsula was voted the best medium density residential development in North Queensland at the annual Urban Development Institute of Australia awards on Saturday night
Mirvac's Queensland CEO Development, Matthew Wallace said, "Given the current economic environment we are very satisfied with our overall rate of settlement and the feedback we have received from residents who are now living in Mariner's Peninsula is extremely positive.".
The $200 million waterfront development created headlines when it was launched in August 2007 with 93 of the 101 apartments selling out off the plan for a value of $84 million in less than a week.
This months settlements saw 85 apartment sales finalised for amounts ranging from $610,000 to $2.495 million.
Mirvac says it undertook Mariner's Peninsula after years of research and searching for a premium residential development site in north Queensland and the success of the project is a direct result of its prime location and its quality.
Mariner's Peninsula is located within the Breakwater Marina precinct and is positioned just off The Strand in Townsville.
Mr Wallace said the settlement of the first stage of Mariner's Peninsula, the Stanton Apartments, was a milestone for Mirvac and also for Townsville.
"This is our company's first major north Queensland residential development and it has also raised the bar in terms of residential standards in Townville so the completion and settlement of the first stage is significant," he said.
"When we launched Mariner's Peninsula we said that we would deliver something unique in Townsville; a quality of residential product that had not been made available in the past and I believe people can now fully understand what we were promising."
There are 3 apartments remaining in the first stage and they include one two-bedroom and two three-bedroom apartments priced from $635,000. All apartments have marina or Cleveland bay views.
In addition to the Stanton apartments there is also two absolute beach front, two story houses currently available.
The beach houses are perched right on the waters edge and enjoy magnificent views out of Cleveland Bay to Magnetic Island.
The beach homes, priced from $2.625 million, struck a chord with purchasers with two having already sold.
Mr Wallace said buyers in the first stage had predominantly been Townsville or North Queensland locals, but some had come from as far away as Western Australia.
"Townsville is a vibrant city with a diverse economic base and we are confident that a high quality project of this caliber would be successful," he said. " I think our confidence has been vindicated." Mariner's Peninsula is being developed on a 3.2 hectare site, which boasts 720 metres of water frontage, near The Strand and Breakwater Marina.
On completion in 2012, the project will comprise a total of about 180 luxury waterfront apartments, 4 beachfront houses and 14 bay house lots.
Each apartment stage features a range of residential facilities, including gymnasiums, recreational pools and barbecue areas.
ENDS
FOR FURTHER INFORMATION PLEASE CONTACT PAUL WILSON AT PROMEDIA ON 07 5593 2011
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