Laz Dzufer inspects progress on the Tangalooma Residences development.
Laz Dzufer inspects progress on the Tangalooma Residences development. Warren Lynam

Top Coast apartments top $5 million price tags

THE big brother to Nexus Development Group's new Maroochydore apartments is raising its suburb's valuation bar, according to builder Laz Dzufer.

He said the top-floor apartment of the four-storey, Mooloolah riverfront building Tangalooma Residences had sold for $5.85 million and the next floor down had sold for $5.65 million.

The project, which started when Mr Dzufer bought the River Esplanade block in 2014, is due to be completed by the end of June.

It was previously owned by the family of Fred Eager, whose pink house Tangalooma was an Australian retreat for movie star guests in the first half of last century.

 

Mr Dzufer said he had some nervous times during the first nine months of construction as interested buyers couldn't be convinced to commit.

He said that changed when the scaffolding and screens came down last year to reveal the building's scale and views.

"On a weekend the top two sold in 24 hours," Mr Dzufer said.

He said he planned to move into the ground level with his family but he was under pressure from keen buyers to sell.

"It is obviously a relief from a developer's perspective when you can say they are all gone."

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