Resort Residences Group is looking to capitalise on increasing buyer activity in the luxury lifestyle property market by launching its absolute beachfront Sandpiper development in Noosa’s upmarket Hastings Street this week.

Resort Residences managing director Jeremy De Zylva said Sandpiper, which will be developed through a joint venture with the long term owner of the site, will feature just three luxurious full floor absolute beachfront apartments.

Mr De Zylva said Sandpiper was the company’s marquee development and would help to reignite Noosa’s reputation as Australia’s premier location for luxury beachfront property.

He said Sandpiper’s stunning top floor penthouse would be released to the market this week, under a co-ownership scheme offering purchasers an exclusive and once in a lifetime opportunity to co-own an ultra-luxury beachfront residence in Noosa.

“The penthouse is being sold in eight shares priced from $1.35 million each, giving each co-owner an interest in the freehold title to the property and six weeks of exclusive use per year,” he said. “Our co-ownership model will appeal to buyers who travel frequently and want only the best of the best, but are discerning with their investment strategies.

“Co-ownership is ideal for these purchasers because they are able to enjoy the luxury of a multi-million dollar property without paying the price tag for full ownership.

“They may be offshore for business for the majority of the year and want a place to call ‘home’ when they visit or a holiday home where their investment is better aligned with their usage needs.

“We will also be offering whole ownership opportunities for purchasers with a lifestyle more suited to year round unlimited access, with Sandpiper representing the crème de la crème of beachfront property in Noosa – these apartments are in a class of their own.”

Mr De Zylva said Sandpiper would help fill demand for co-ownership properties in Noosa, in the wake of the recent withdrawal of Firstlight Noosa.

“Sandpiper shares some parallels with the proposed Firstlight project, which proved to be very popular with buyers, in terms of world-class design quality and absolute beach frontage,” he said.

“We believe those who were in-line to purchase at Firstlight will see the value in investing in Sandpiper, which represents a limited and exclusive opportunity to secure a luxury whole floor residence in what is arguably Noosa’s best beachfront location.

“We have partnered with the long-term owner of the site to deliver this development to the highest possible standard, so purchasers can have confidence in our project moving forward.”

Mr De Zylva said Sandpiper provided a rare opportunity to secure a spacious beachfront apartment on Hastings Street. “There are just 24 three bedroom apartments on the Noosa beachfront, so Sandpiper represents a limited opportunity to secure a north facing, whole-floor luxury residence on one of Australia’s most iconic beachfront streets,” he said.

“Each Sandpiper apartment will feature three spacious, ensuited bedrooms and a media room which may be used as a fourth bedroom. “A state-of-the art-kitchen featuring the latest in prestigious fittings and appliances flows to a glorious dining space, making entertaining family and friends a pleasure.

“The master suite is cleverly designed with discrete walls that slide open to carry breathtaking views of the ocean right into the bedroom. “Prospective buyers can now visit the new display suite at 33 Hastings Street, to get a first hand glimpse at what living or holidaying at Sandpiper will be like.”

It is anticipated that work on Sandpiper will commence mid year, with construction reaching completion in late 2012. For more information about Sandpiper, please visit www.sandpipernoosa.com.au