$12m sales blitz unfolds in popular community estate

Local buyers have pounced upon an exclusive release of luxury residences at Pelican Waters with 15 properties generating $12m in sales transactions.

Henzell Property Group has achieved a sellout in its terrace collection release in the first stage of The Cove, a $200m masterplanned community in the Coast's south.

The sales included 10 premium terraces and five penthouses terraces with the latter all selling out within a week of release. The sales are among 39 of 51 properties sold so far in the first stage known as Corsica Residences, which comprises two separate collections of townhomes and apartments.

Henzell's sales and marketing director Marcus Muir said 80 per cent of buyers were from Pelican Waters.

"The Terrace Collection proved to be extremely popular with buyers, many of them attracted by the premium lifestyle we have designed for The Cove waterfront community," Mr Muir said.

"There's been a strong local owner-occupier trend and all of them have been drawn by the quality of the residences and the level of exclusive resident amenities that would be right at home in a world-class resort.

"We're experiencing exceptional demand across the entire Corsica Residences release which has set a remarkable early pace for our staged program to deliver The Cove's master plan over the next few years."

The sales success of the Terrace Collection has led Henzell Property Group to make a start in construction in coming weeks.

The Cove is the final instalment in the Pelican Waters community which the Henzell family has been developing for more than 30 years. The masterplanned community will be delivered in four stages over the next four years and when completed it will comprise a total of 220 apartments and terrace homes, a grocer and waterfront restaurant.