Coastal House: Brand New Design for Martha Cove
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Earlier this year PPB (Recievers & Manager) Marina Cove, released 30 lots for sale on Helsal Point, Martha Cove. Land has been selling fast.
Inform and PPB are proud to announce the development of a smart, stylish and economical concept particularly to suit the sites at Martha Cove.
The Coastal is a split-level house, designed to make the most of Martha Cove's amazing setting.
Inform has spent time with PPB developing numerous concepts to suit the different sites. There is a 3 & 4 bedroom version, with 4 uniquely different external designs.
If you're interested in house and land packages or you have a site which the Coastal House could be suited to contact an Inform Consultant on 8567 3800.
For more information on Martha Cove see below article from Mornington Life Magazine explaining the current status of the development.
The past year has seen the re-emergence of Martha Cove as an enviable lifestyle choice for buyers on the Mornington Peninsula
The 97-hectare residential and marina development has benefitted from significant investment, including the construction of a new café, the reduction of Owners Corporation fees and the completion of construction works to enable the release of new waterfront lots that offer unrestricted boating access to Port Phillip Bay.
The pricing of the waterfront lots has also been the key to attracting potential purchasers.
A spokesman for PPB Advisory, who act as Receivers for one of the financiers to the developer, Marina Cove, said, “The stakeholders recognised early on that one of the challenges at Martha Cove was its lack of amenities and while there are plans for a commercial and retail precinct in the medium-term, we wanted to ensure that residents, boaties and potential purchasers could have somewhere to gather for a coffee and a bite to eat.
The pricing of our new release at Helsal Point has attracted significant interest, confirming our view of the strong market demand for this unique type of product, if priced appropriately.”
With prices starting as low as $569,000, the waterfront land release at Helsal Point offers generous sized allotments, berth entitlements from 12m to as much as 20m, payment of the Owners Corporation fees for three years, and the ability to choose your own builder.
The $650 million development previously faced financial issues as a result of the GFC and the large capital outlay required to construct its infrastructure, including the road underpass that allows Martha Cove’s residents direct bay access. This cost was reflected in the high pricing of the land prior to recent land releases (four years ago, blocks of land were priced at $1.1 to $1.4 million).
Careful management, increased investment in infrastructure and attractive pricing provide greater certainty for potential home buyers and investors about the development’s longer term future.
Stuart Cox and Steve Walsh, of selling agents Jacobs & Lowe-Bennetts, have been appointed by PPB Advisory to sell the land at Helsal Point. Mr Cox admits that, “In the beginning, the pricing structure was quite optimistic. However, we know there are buyers at the right price”.
PPB Advisory expects that prices will rise as the supply of these unique waterfont lots runs out. “The lots represent an opportunity that will never be repeated or replicated on the Mornington Peninsula”.
The new café, which is open daily and situated on the harbour, is being operated by high-profile caterer, Peter Rowland. It provides a range of local gourmet food and produce, as well as bbq packs and convenience items for boaties and residents.
While there may have been some false starts along the way, Martha Cove looks like it is finally living up to its full potential.