Ray White Maroochydore - Press release

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Controversial beachside residence set to break record

The penthouse in one of the Coast's most controversial buildings is set to go under the hammer on May 5 breaking records in the area, hot on the heels of the Gold Coast's recent high-flying penthouse sales record.

Built over seven years ago surrounding great controversy, the Sunshine Coasts' Santorini ‘towers' six stories over the unspoiled eco-landscape of Mudjimba.

Originally built as its developer's private holiday home, the Santorini penthouse sprawls over 50 per cent of the entire top two floors of Mudjimba Esplanade's one and only high-rise building.

Public outrage, manifest in protests, sabotage, fire-bombings and lobbying during Santorini's construction, possibly contributed to the lack of expansion and development in the area, already enthusiastically embraced by Mooloolaba to the south and Coolum to the north.

However, the development went ahead and is now one of the Coast's prime properties thanks to its unique location.

Following hot on the heels of Gold Coast's Soul and Q1 apartment sales of over $16m, and now the Sunshine Coast 's reported $8m plus Forest Glen property record, Santorini's upcoming penthouse auction seems set to pull prosperity to the Sunshine Coast foreshores.

Mudjimba has experienced higher than average growth in the last three years, positioning the Santorini penthouse as a prime investment for both lifestyle and capital gains. The Penthouse is set break the record for the most valuable property to go under the hammer in the Mudjimba area.

“Interest in the property has been remarkably overwhelming and widespread, attracting the attention of both interstate and overseas investors. It is also no surprise that local interest has been exceptionally high as many locals have identified Mudjimba as their suburb of choice for its seclusion and privacy, moving away from the busier more developed centres of the coast,” says Ray White Marketing Agent and Auctioneer, Dan Sowden.

“Mudjimba has a distinct charm, a circa 1960's sleepy beachside town with an equally old-world pristine and deserted beach to match.”

“Mudjimba is an absolute anomaly, it's like the land that time forgot. It's unique geography has time-capsuled it from the frenetic expansion that swarms all around and that's why we believe this will break all standing records when it goes under the hammer.”

Perfectly positioned, Santorini is nestled in the quiet beachside setting with breathtaking views stretching across the ocean and Old Woman Island to the stunning hinterland and beyond.

Sitting out on the expansive balcony, Trevor Burton, owner of the 4 bedroom penthouse, says that he cannot think of another location anywhere that has what Mudjimba has to offer.

“The charm and beauty of this exclusive residence rivals even the most extravagant apartments on the Gold Coast and it breaks our hearts to be putting this place on the market. You simply couldn't replace it with anything else,” Trevor said.

Although it is a reluctant sale, Trevor is raising capital for another business venture.

Ends.

U22 Santorini, Mudjimba Beach