Cotton Tree is the latest skyline to boast a tower crane. The Verve development is an 8 story residential apartment building located on Sixth Avenue, 1 street back from Maroochydore Beach, a short walk to the village, Sunshine Plaza and the river mouth. Price for a 2 Bedroom unit on the ground floors, start from $500,000.
Cotton Tree has seen a flurry of activity in 2014 with every vacant shop being refurbished, as everything from magazines to property developers move into this boutique area. The coffee and health food societies also have three new venues to choose from.
Units and more so houses are tightly held in this area. The high-rise complexes are mostly holiday accommodation. However the smaller complexes are being snapped up by permanent residents taking advantage of the all year round holiday location that is 'walk to everything'.
Existing units can be purchased from $350,000's+, houses (which are very scarce due to the ability for high/medium density zoning on allotments) are $$$ high $600,000's for a 'renovators delight'. Rent returns and vacancy rates favour the investor and will only get tighter with the development of the new Maroochydore CBD.
