SANCTUARY COVE DEFIES PROPERTY TRENDS!
	NEW RETAIL STRATEGY TO ENHANCE MARINE VILLAGE.

SANCTUARY COVE DEFIES PROPERTY TRENDS!

Sanctuary Cove can be proud it has survived the widely publicised economic crisis that put pressure on property markets.

As a destination and stand-alone property market in itself, Sanctuary Cove has continued to perform well, whilst economic and financial markets worldwide were unravelling.

And the research is there to prove it. Renowned property analyst Michael Matusik has shown Sanctuary Cove to be the pacesetter, when it comes to group-titled residential land and housing on and around Hope Island.

Mr Matusik’s findings are significant, as most residential property on Hope Island – and all property at Sanctuary Cove – is group-titled. It includes vacant land, detached houses, apartments, villas and townhouses.

The Matusik Property Insights report found that while the median sale price of group-titled dwellings across Hope Island declined by 7 per cent between 2007/08 and 2008/09, properties at Sanctuary Cove achieved an average annual capital gain of 7.8 per cent during the same period.

The mix of vacant land, detached houses, apartments, villas and townhouses also appeals to a wide range of purchasers, according to the report.

“In dollar terms, these properties that re-sold at Sanctuary Cove in 2008/09, achieved an average capital gain of $283,395,’’ Mr Matusik said.

“The re-sale performance was considerably higher than in other projects/estates on Hope Island, where the average annual capital gain upon resale across 47 properties was only 2.8 per cent, or $72,134 in dollar terms.’’

He said the sales throughout 2009 and into 2010 reflect the appeal of Sanctuary Cove to offshore buyers – particularly those from Asia, as well as expatriates.

“Sanctuary Cove has a strong appeal to expats who are looking to return to Australia, after having achieved success in their chosen field overseas,’’ he said.

NEW RETAIL STRATEGY TO ENHANCE MARINE VILLAGE.

Sanctuary Cove is set to embark on an exciting retail strategy, which will involve the ongoing transformation of The Marine Village.

Mulpha Executive General Manager, Alison Quinn, said a raft of new changes has been designed to continue the enhancement of the village into a ‘Hastings Street-styled’ precinct.

Ms Quinn said Mulpha is currently working on a retail strategy, which would be unveiled to all Sanctuary Cove stakeholders in the next few months as the strategy is finalised.

“We expect to make some announcements shortly and commence information sessions to outline more specifically our vision for The Marine Village,” she said.

“We’re very excited about the delivery of a retail strategy, which is part of the overall enhancement and revitalisation of Sanctuary Cove that has been undertaken in recent years by Mulpha,” said Ms Quinn. “The tenants will be informed first through the Sanctuary Cove Marine Village Business Association, which was one of the first initiatives started in January 2010,” she said.

This has allowed Mulpha to improve communication with the Village tenants and also to seek their advice and involvement for our forward planning” Ms Quinn said.