Land Releases Dry Up At Waterfront Cova


The $225 million Cova community at Hope Island experienced a sell-out of its Northwater Land waterfront final land release.

Northwater Land was Cova’s final land offering but the popularity of the northern precinct has developer Frasers Property Australia preparing to release a collection of terrace homes in the Northwater precinct in coming months.

The 13 sold-out north-facing waterfront lots will deliver one of the most desirable streets in the community, Northwater Drive, which will feature meticulous streetscaping and design.

Frasers Property Australia General Manager Residential, Queensland Cameron Leggatt said he expected some of Cova’s most stunning homes to be built within the Northwater precinct.

“As our final waterfront land release these lots were highly sought after due to their northerly orientation and close proximity to Cova's marina,” he said.

“And as a result of the popularity of the Northwater location, Frasers Property will release a range of Northwater terrace homes within the coming months.”

All residents will have access to the resort-style Club Cova, which includes a lap pool, gymnasium and a recreational club with kitchen and BBQ facilities, tables, shelters, and function room with TV.

The success of the Northwater Land release follows the highly successful Park Gallery Terrace Home offering, which is also sold out and is due to settle in September.


Paddington resident David Thompson and partner Kirsten Oliver were among the first to purchase within Northwater Land and hope to start building their four-bedroom, three-bathroom dream home later this year.

Mr Thompson said the Northwater Land offering satisfied their desire to live by the water within a family-friendly community.

“We’ve been looking everywhere from Benowa right up to Brisbane for a property, but at Cova we can build a brand new home on the waterfront that’s perfectly tailored to our needs,” he said.

$225 million is the sum of estimated or actual sales prices of all saleable properties within Cova.

“Cova’s proximity to the M1 was a major drawcard because I work in Brisbane and for the children, there are some really great schools nearby and the community itself has a great vibe.

“We love the water as well so it’s a great opportunity for us to park the jet-ski out the front and jump onto the Broadwater whenever we like – it’s everything we were looking for in a home and we can’t wait to move in.”

The 31 hectare waterfront Cova community comprises a mix of land, house and land, terrace homes and villas serviced by an array of leisure facilities including a centrepiece marina and Club Cova.

Located just 3.4 nautical miles from The Broadwater, the freehold marina is for the exclusive use of residents. Berths in the marina are still available for sale from $41,100 for a 12m berth.

Residents also have the use of nine parks, more than 5km of walking and cycle paths and green open space throughout the Cova community.

Cova is a body corporate community with an on-site manager.

First home buyers in upcoming releases at Cova may be eligible to receive the recently boosted First Home Buyers Grant of $20,000.

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