Martha Cove's Harbourside precinct achieves 70% in sales

The first release of Harbourside in the Martha Cove development has achieved around 70% in sales after launching four months ago.

The Three Pillars development features 80 terrace homes, with a range of three-bedroom single and double storey townhouses and four- and five-bedroom luxury homes.

Terrace homes start from $429,950 for a three-bedroom home, 50 metres from the waters edge.

“Buyers simply put down a 10% deposit and don't have to pay another cent until their home is completed,” says Tom Hoogenbosch managing director of Three Pillars.

“We saw the opportunity to reinvigorate the area and, with the recent opening of Peninsula Link, this is a perfect time to do it.

“The market is on the way up and we’re offering a rare opportunity to combine lifestyle and everyday living as a realistic option.

“Martha Cove offers great designs, great value and great investment,” says Hoogenbosch.

Construction on the development began in late July.

The second release of Harbourside is scheduled to launch in early 2014.

The $650 million Martha Cove development is a joint venture between Three Pillars, KordaMentha and PPB Advisory.

Set on Safety Beach, the 94-hectare residential marina development offers house and land packages and will consist of around 1,100 residential dwellings upon completion.

Martha Cove will also include 750 marina berths, a commercial precinct and aged care facility.

Broken into three precincts, PPB Advisory will develop Sovereign Point, KordaMentha will look after Hidden Harbour and Three Pillars will develop Harbourside.