Sold by Lauren Chen and Luke Chen of Tom Offermann Real Estate, the team's second sale in sought-after Witta Circle this year.
A luxury holiday home on Noosa Sound has been sold by Tom Offermann Real Estate father and daughter agents Luke Chen and Lauren Chen for $10 million.
Perched on the riverfront at one of Noosa’s most luxurious addresses, the residence’s clean architectural lines, natural materials and the lush natural forest and river outlook offer sophisticated relaxation from the moment you walk through the 2-storey high glass foyer.
Speaking to WILLIAMS MEDIA, principal Tom Offermann said, “It was an off-market sale to buyers who had been waiting for a beautiful home in exactly this location. It was only offered to them and they quickly seized the opportunity, knowing that potentially there would be other competition for this waterfront location.”
Numerous Noosa property records have already been smashed in 2020, including the company’s $14,000,000 beachfront penthouse sale of 8 Noosa Court.
This is Luke and Lauren’s second sale in Witta Circle this year, with the sale of 33 Witta Circle setting a historical record for Noosa Sound as the first single allotment sale to reach eight figures, far from the original land sale price of $12,000 in 1974.
Source: Tom Offermann Real Estate
“During the campaign of 13 Witta Circle which achieved $6,600,000 at auction in January, we were deluged with enquiries and it’s fascinating how many well-known and highly successful people contacted us,” said Luke and Lauren. “The common attraction for them is that Witta Circle offers a waterfront lifestyle with boating options only a couple of minutes’ walk from one of the most beautiful beaches in the world. There is no other location that offers this.”
Tom Offerman told WILLIAMS MEDIA it is too early to tell what effect the coronavirus will have on the Noosa property market.
“In the wake of the sharemarket fall we experienced some frenzied activity by investors securing assets that they considered far more tangible, and also a number of buyers from southern states wanting a property in which they can spend the winter rather than sitting in their Melbourne home,” he told WILLIAMS MEDIA.
Some holiday home owners have instructed their property managers to prepare their properties with the necessities for them to move in for an extended stay.
There are very few tourists around the streets and holiday complexes that are usually bursting at the seams at this time of year are all but empty due to the travel restrictions.
“A high proportion of Noosa property owners come from all over the country and the world, so it is interesting to hear the diverse predictions they have,” Tom told WILLIAMS MEDIA.
“Some believe that this is a short-term opportunity to acquire properties at very sensible prices, including some which are normally impossible to buy. Others are predicting that there will be some better opportunities down the track so they are out of the market for now and are waiting to see what unfolds. So far there has been very little increase in listings coming onto the market which was extremely tight prior to the virus.”
“We will have to see what the future holds, however we know that real estate is the basis of all wealth and that it is a long-term investment with there are few places that reward investors like Noosa. Across the Shire, the capital growth rate has been the highest in Queensland for the past 44 years running at 9.3% compound per annum average.”
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