122/3 Pendraat Parade, Hope Island QLD 4212

122/3 Pendraat Parade, Hope Island QLD 4212
Large 194m² waterfront apartment | 3-bed, 2-bath, 2-car side-by-side | North-easterly aspect with entertainer’s balcony | Premium owner-occupier stock in Ilanah Aqua This property is competitively strong as an unusually large apartment within a waterfront complex, offering a floor area more typical of a house than a unit. Its north-easterly aspect, large balcony, and secure side-by-side parking with storage position it well for downsizers and affluent lifestyle buyers seeking space without land maintenance. The open-plan living and master suite with walk-in robe and ensuite add to its appeal as premium owner-occupier stock, standing out against smaller apartment formats common in Hope Island. The in-ground pool and canal views further strengthen its desirability for those prioritising coastal living in a secure, low-maintenance setting. Value may be materially affected by the flood overlay noted on the lot, which could influence insurance costs and long-term buyer confidence. The substantial jump from the 2022 sale price to current expectations suggests a market shift that might not be fully supported by local conditions, so the buyer should weigh recent price growth against comparable waterfront units in the area. Body corporate fees and exact floor level could also impact perceived value, as higher floors typically command premiums and lower levels may face more noise or reduced views.
Detailed Independent Property Report prepared  by PropCred Analyst team for 122/3 Pendraat Parade, Hope Island QLD 4212
Checks found:
Value Risk
Liquidity Risk 2
Planning Risk
Income Risk ! 1
Execution Risk ! 1
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Market Insight

Hope Island presents a high-value, dual-track market. Demand is driven by affluent professionals, with strong rental growth (8-10% annually) and robust sales activity underpinning the unit sector, which has seen 6% price growth. However, the premium house segment faces headwinds, with prices down 2-5% and extended 65-day marketing times reflecting affordability constraints. Future growth hinges on sustained rental demand, but high entry prices and divergent performance between houses and units remain key considerations.
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PropCred Estimated Value

Bedrooms

3

Bathroom

2

Parking

2

Land

1488m²

Research & Review Prepared by Brian Moon, Analyst · Reviewed by Matt Proctor, Principal Analyst
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