Sales Director for the CP1 Limited project, Brett Griffith of Colliers International, said more than $21 million in sales have been locked in over the summer season. “These include another record price of over $3 million on Brindabella Point for a large waterfront lot which also has a private 25 metre boat berth at the front of the property. “On top of these results we have seven more contracts lined up for Brindabella so the future looks very promising as far as further sales are concerned. “Sales are also pending for a residential development and another safe harbour on land referred to as the ‘Hidden Harbour’ estate,” Mr Griffith said. City Pacific has a 30.6% stake in development company CP1 Limited, the developers of Martha Cove. Executive Director for CP1 Phil Sullivan said the retail sales are a clear indication of Martha Cove’s heightened prominence on the Mornington Peninsula after receiving Victoria’s UDIA Award for Excellence for a Masterplanned Development In 2007. “We’re obviously very pleased with the response we have been getting. Martha Cove is very much a window to what CP1 can do and will continue to do at the higher end of the property market. “Think back four years to when Martha Cove was just a flood prone swamp land to its present day transformation into a multi-million dollar marina community. “Today there is more of everything – more apartments, more boat berths, more land, more water and more recognition for CP1 Limited as a leading development company in the leisure and lifestyle market,” Mr Sullivan said. For further information about Martha Cove, visit the website: www.marthacove.com.au
