632 Doonan Bridge Road North, Doonan, QLD

Home Case Studies 632 Doonan Bridge Road North, Doonan, QLD

Client: N Sale Method: Private Sale Advocate: Kate & Edward Polk

Client Brief

N, from Sydney, wanted a very generous sized landholding to build a large luxury home/estate (>1,000m2 under roof) with potential for multiple dwellings. Being surrounded by nature was important, as was being within a short drive to Noosa’s key lifestyle amenities. Also, the ability to lease the current property out over the short to medium term.

Kate & Edward Polk

Buying Journey Summary:

N had been looking at on-market opportunities in Noosaville, though as a busy professional who travels overseas regularly, did not have the time required to actively search for the right property. N was introduced by local friends who understood the challenges he was facing and how we could assist.

After listening to and understanding N’s needs it became immediately clear that to build to the desired scale, the search area would likely need to be broadened. Under the Noosa Council Planning Scheme, maximum building envelopes and gross floor area allowances would be restrictive. In the desired streets we prospected in Noosaville, we got N into a position of being able to buy two blocks next to each other (one on-market, one off-market). An adjoining third block would be required in the future. We ran extensive due diligence and concluded that N would be taking unpalatable risk to proceed here. Stretching the budget to buy two, and no guarantee of being able to pick up the third block in the future. This, coupled with local planning scheme restrictions giving little certainty of being able to achieve his long-term goal.

We recommended broadening search efforts to neighbouring Doonan, where we felt N’s vision for the future could best be achieved. Surrounded by nature, close to amenity, much bigger landholdings and critically, land usage governed under the more accommodative Sunshine Coast Council Planning Scheme.

In tandem to investigating other options, we closely tracked 632 Doonan Bridge Road North where the campaign commenced at $3m (above the level we were willing to pay). After inspecting the property, we felt it was the perfect option for N, both over the short and longer term if it could be secured at the right price. Given our local market knowledge and intel, we were able to time our offer perfectly and negotiate strongly. We purchased the property for the right price (20% below where the campaign commenced) subject to a due diligence period (where we leveraged relationships with planners, certifiers and council to gain comfort on future use potential). After the purchase, we coordinated all efforts to have the property successfully leased out in the days immediately post settlement.

A very rewarding journey to get it right for N. We look forward to continuing to support N as his vision for the future becomes reality.

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