Sydney, Apr 4, 2008 (ABN Newswire) - Noosa's Settler's Cove development by Cape Bouvard is scrambling to keep up with demand.

Settler's Cove sales and marketing manager, Dane Larcombe, says he has been receiving calls daily for the past month from potential buyers who were anxiously awaiting details of Stage 3 of the apartment precinct.

The first building of Stage 3 (Iluka) was released Wednesday. Stage 3 of Settler's Cove has design elements that establish a new benchmark in Noosa apartment living across three low-rise structures: Iluka, Emerald and Emerald Villas.

Floor plans for Iluka were sent early morning to the database of potential buyers who had registered their interest in Stage 3, and within hours, Settler's Cove had received requests for contracts on seven of the 22 luxury apartments with internal areas ranging from 220sqm to 340sqm. Prices start at A$1.95m.

"The speed with which Stage 3 sales started suggests there is nothing else on the market here that compares in terms of size, quality of finish, elevation and accompanying views, and privacy. Our buyers have been for the most part locals, who unequivocally confirm that Settler's Cove is superior in location, build quality and value. The locals should know!" he says.

Stage 1, Elandra, is completely sold. Riverlight, the second building now underway (due for completion early 2009) is almost sold out with a price average of A$2m. The four penthouses at around A$3 million were among the first to go.

Iluka has now set a new sales pace for this spectacularly beautiful development site in which environmental protection and enhancement are a feature of the property.

Of the 36 hectare site bounded by Noosa Hill, Noosa Junction and Noosa Sound purchased by Cape Bouvard in 2005, more than 23 hectares will have been donated to Council as park and conservation land by mid 2008.

Completion of Stage 3 is expected to be late 2009.

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