THE first off-the-plan apartment sales in Palm Cove for more than a decade are under way with construction on a luxury penthouse development about to begin.
Shara at 71 Williams Esp will be home to six high-quality, penthouse style apartments set within a contemporary complex.
Belle Property Cairns principal Nicholas Slatyer said the 50 per cent pre-sale target had been achieved and developers could now get under way with demolition and construction later this year or early next year.
“Shara is the first development to be sold off plan on the tightly held esplanade for over a decade,” he said.
“We knew that there was gap in the market for a high-end residential-style development and buyers responded incredibly well.
“With just six apartments — two per floor — all facing the Coral Sea, a rooftop pool and a very high level of fittings and finishes, Shara sets a new residential benchmark for Palm Cove.”
Developer Bob Simkin said the apartments provided an “almost unrepeatable opportunity on the iconic esplanade”.
“We wanted to do something special with the site and we are excited to see it come out of the ground,” he said.
Designed for beachfront living by local Circa 2000 architect David Quigley, the apartments have generous indoor and outdoor living spaces and basement parking with storage.
Cairns Post understands the Palm Cove Car Rentals business will remain in the ground floor retail space on the site.
The three-bedroom apartments will start from $1.4 million.
Shara is an indigenous word meaning saltwater and the apartments are designed specifically for owner-occupiers.