Multi-million dollar house sale prompts calls for more investment

REAL ESTATE

Howard Salkow

Senior Journalist

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CONCERN: If we do not see some progress (in the Marina Development) soon, it could be detrimental to all involved in the area says Ray White's Mark Flinn. IMAGE: Newsport
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The Port Douglas realtor who recently sold the stunning beachfront property Cottonwood, located near Thala Lodge, is calling on Douglas Shire Council to work with the developers of the Marina to ensure it goes ahead.

Mark Flinn, Sales Manager and Licensee, Ray White, Port Douglas, said he is hopeful that council will work closely with the Marina re-development and make this happen soon in the best interests of the town.

“As with a project of this size, it will have so many economic positives for all of us in the region, and I feel that if we do not see some progress soon, it could be detrimental to all involved in the area.

“You only have to drive into Cairns and see the cranes and progress that has happened in the area over the last few years to see this,” said Flinn.


In April, the Development Application for the Port Douglas marina redevelopment was withdrawn, but owners Crystalbrook Collection said they remained ‘fully committed’ to the multi-million dollar project.

The $200 million transformation had been put on ice after a number of issues were raised with the original scheme.

Douglas Shire Council sought an information request from Crystalbrook earlier this year seeking clarification on a number of aspects, including the design’s visual suitability for the tropical village.

Flinn, meanwhile, said the sale of Cottonwood is certainly up there in terms of what the property offers.

“In more than 17 years of selling in the region, I have sold a number of beachfront properties from Oak Beach to Wonga Beach and have become a beachfront specialist if you like.

“But this one certainly is the most unique beachfront property I have ever seen or been involved in,” he said.


In terms of the price paid for the property, Flinn said the vendors and buyers had requested that he did not disclose any information about them or the price.

“What I can say is that we had four registered bidders on auction day and then it passed in with bids up to $2,750,000, then we have negotiated to a higher price after auction.”

As to how the real estate market is performing, Flinn said the market is very up and down at the moment as we are still having some really good months and then some quieter months.

“We are also starting to see the banking royal commission start to come into effect with tighter lending restrictions etc, from which we are seeing some tightening in certain sectors of the market.

“I must say, though, that we offer such a unique destination and with the cities getting busier and busier, I am noticing more people making lifestyle decisions and relocating to the area which is great for our region.” 

 

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