Cowrie Apartments - Palm Cove (Queensland)
A proven, safe and desirable investment choice – you be the judge.
- Assured income
- Available from $365,000, fully furnished 2 bedroom apartment in world reknown Palm Cove
- 5 year lease (6.25% indexed to CPI) with a further 5 x 5 year option
- No local authority rates for 5 years
- Personal usage rights
- Strong price growth prospects
Cowrie Apartments, Palm Cove offer an almost ideal investment blueprint
Four of the most aspirational beachside destinations on the east coast of Australia would have to be Port Douglas, Palm Cove, Noosa, and Byron Bay. These are multi-million dollar markets with huge demand, not enough space and not enough available property. Cowrie represents a unique opportunity for only 16 clients to buy into a $365,000, two bedroom apartment within a breathtaking masterplanned integrated resort community of neighbouring properties worth between $1.2 and $3 million.
This is a unique proposition in that it offers safety, is affordable, has growth potential, and also allows you to take your own position in one of Australia’s most desirable (and expensive) markets. Your guaranteed yield (no vacancy) will be 6.25% or $438 per week, and will be CPI linked (so you will get a rental increase each year), and your rates will be paid for the first 5 years.
Cowrie is an existing residential apartment complex within the Oceans Edge environs. Oceans Edge is a $400 million development joint venture with Macquarie Bank and an elevated rainforest boardwalk direct to Palm Cove beach and world class restaurant/boutique precinct. And Cowrie is by far the lowest cost entry point for any Oceans Edge, Palm Cove related address.
These apartments have been totally refurbished to meet even the fussiest owner occupier standards, including brand new stone bench top kitchens with stainless steel appliances, stone bench top bathrooms, beautiful porcelain tile floors, air-conditioning, and new contemporary furniture styling and colours.
Why does this investment make so much sense today?
- Regardless of the current market condition, most Australians still understand that they need to invest to secure their financial future, however with the current market uncertainties; many would-be investors are either ambivalent or fearful of making any investment decisions today.
- Even with current interest rate levels, property is still the favoured option when choosing to invest for most Australians. Fundamentally the property market is resilient, with unprecedented low vacancy across the country, caused by an increasing undersupply of residential property.
- In this economic environment, the single common objective of most investors will be to look for safety – with an affordable entry price, strong stable yield, and certainty of tenancy, future capital growth potential, and availability of competent property management. This is genuinely difficult to find.
Far North Queensland (FNQ) has consolidated into one of Australia’s fastest growing regional population and economic growth centres. Its robust and diversified economy has created strong ongoing housing demand from continuous population growth. People are arriving for work, lifestyle and retirement. Commentators are saying that of the most desirable beachfront locations, Palm Cove remains one of the most easily accessible entry price markets left.
In 2008, where low investment cash outgoings and secure rental revenue are paramount with long term quality capital growth the focus, Cowrie apartments represents an exceptional investment proposition. If a bullet proof, low cost investment in one of Australia’s treasured locations sounds appealing, you should respond quickly as they are strictly limited.
