Investors have forked out another $15 million at Peppers Coral Coast at Airlie Beach, bringing total sales in the project to $35 million.
Work will now start on the project in May with developer Latitude Development Group negotiating with a builder for the project. LDG paid $6.8 million for the 2.3ha site for the development in 2004. Port Douglas-based architect Gary Hunt designed the 96-apartment resort to fit in with the natural landscape and make the most of unrestricted views over the Whitsunday Islands.
LDG chief Josh Thompson said Peppers would be the first nationally branded resort in Airlie Beach. The development will be the first nationally branded resort in Airlie Beach. The development will include strata-title apartments ranging from one to three bedrooms. Resort facilities will include a wet-edge pool, landscaped gardens, a restaurant and day spa. Included in the latest results are sales contracts on two home within the resort for $1.85 million each. Of the 96 apartments released, 50 have been sold.
The sales figures demonstrated a pent-up demand for resort-style quality in Airlie Beach. “The introduction of Peppers…marks a significant milestone in the growth and credibility of Airlie Beach as Australia’s emerging resort and lifestyle destinations”.
