Waterfront blocks released in Martha Cove development

Some 30 waterfront lots have been released in the Sovereign Point precinct in the Martha Cove marina development on Safety Beach.

Sovereign Point offers the only waterfront blocks available in the development, with lots ranging in size from 697 square metres to 920 square metres and boast a harbour frontage of up to 22.5 metres with a berth title.

Lots are priced from $499,000, with house and land packages ranging from $899,000 up to $1.45 million for a three-, four- or five-bedroom home.

Nine out of the 30 lots have sold since the November release.

“Sovereign Point gives people a rare opportunity to build their dream architecturally designed home in a masterplanned waterfront community with parks, cycle paths and walkways,” says chairman of partners at PPB Advisory Ian Carson.

Martha Cove is the only site on the peninsula where boats don’t have to leave the water to refuel, and offers 24-hour onsite security with patrols on land and water.

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.

A new approach was taken for the $650 million development back in October, with an alliance forming between three stakeholders – development company Three Pillars and receivers and managers KordaMentha and PPB Advisory.

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