'One of Queensland's most prestigious streets': multimillionaires jostle for prized homes

One of the region’s most chic streets continues to attract big-money home buyers, with the sale of a waterfront mansion for almost $7m.

The Promontory in Noosa Waters has proved to be a multimillionaire’s drawcard, with several homes recently selling for more than $6m.

The latest to go under the hammer was No.17, which was sold at auction for $6.83m.

The five-bedroom, four-bathroom, two-car-space residence, on 930sqm, boasts water frontage, a u-shaped jetty, a central heated pool and a stylish and spacious interior.

The director and founder at Reed and Co. Estate Agents Noosaville, Adrian Reed, said the property, and the street in general, was in a great location.

“It’s a highly sought-after position, within Noosa Waters,” he said.

“The Promontory is noted as one of Queensland’s most prestigious streets, with average sales of above $6m.

“It’s a street that people have got a real eye on.”

No.5 sold for $6.4m in January, No.13 went for $6.4m in September, No.20 was bought for $6.1m in January and No.10 went for $6m in March last year.

“It is in great proximity to the Noosaville precinct,” Mr Reed said.

“It’s very close to restaurants and cafes and it’s only a short ride to the lock, to get to the river.

“But it (the appeal) is also due to the pedigree of the houses in the street.

“It was one of the last streets to be developed within the Waters and the scale of the homes, especially on the northern flank of the street, is spectacular.

“They are among a beautiful collection of architecturally designed homes.”

The Promontory is just one of the impressive streets in Noosa Waters, a residential community built around canals.

“It’s a fabulous location because it’s close to Hastings Street and Noosaville,” Mr Reed said.

“Residents have the benefit of living on the waterfront, and they can still be hidden away from the ups and downs of the Noosa tourism spikes. It’s a special spot.”

He said north-facing No.17, designed by Paul Clout, was particularly eye-catching.

“It has been renovated extensively and the sales campaign captured a lot of attention.”

“It was built in 2006-07 but the architecture has stood the test of time.

“The building is a heavyweight structure – a really good-quality building.

“There are beautiful choices and natural materials, which are clear cues of quality throughout the home.

“It has a central courtyard with a pool, tucked away from the waterfront, which creates a resort ambience when you walk into the home, but also a sense of privacy.

“Then there is the kitchen, living and dining area with the waterfront, which is a really practical space.”

The previous owners lived in and renovated the residence but are moving to Sydney to be closer to family.

The new owners, from Melbourne, will use it as a holiday home. They secured the property ahead of two local registered bidders.

Mr Reed said properties in the region were being sold to a mixture of interstate and local buyers.

“I think there’s a bit of misconception that we (agents) are hunting for Sydney or Melbourne buyers who are going to shoot the lights out at auction, but the reality is 50 to 60 per cent of our body of buyers are actually local,” he said.

“We have an active local buying group.

“Local buyers are often most confident about the market and have a greater level of market detail and knowledge.

“There is a lot of transitioning around the market, with locals moving between beach, hinterland and waterfront (river and canal).

“They don’t always lock in for 20 years in the same spot. They rotate around to get the best of what Noosa has to offer, in different locations.”