Remaining stock of Woodgate Beach House development sells at mortgagee sale

A bundle of waterfront properties in Woodgate, including five existing beach houses and two adjoining development sites, have sold as a mortgagee sale for $1.915 million.

The five fully furnished beach houses were the remaining stock of stage one of the now completed Woodgate Beach House development, which features 26 beach house.

A mix of local and interstate investors purchased the beach houses and a Sunshine Coast-based developer purchased the development sites.

One of the sites is DA approved for nine villas and a shop café and the other development site has approval for a balance of 45 beach houses under the original DA for a total of 72 units.

Jason O’Meara and Derek Nissen of Savills secured the sales under appointment by Mortgagee.

“This was a significant land holding that provided a rare combination of a balance of completed stock, along with adjoining sites with approvals in place for future stages of development,” says O’Meara

“The appeal of these properties was the location and proximity to the beach and facilities. The existing dwellings provide an excellent platform for further expansion of the development,” Says Nissen.