The
Sovereign Islands were originally developed by the Lewis Land Corporation, with the first block in Excalibur Court settling on the 12th January, 1988. The price paid for this 827 square metre block was just $319,000. Lewis Land, founded by the late Bernard Lewis, developed several water front estates in the northern suburbs of the
Gold Coast. Throughout the recession of the early nineties, the development struggled to achieve sales at all, with many calling it a white elephant! In 2005 a 3,477 m² parcel of land in Knightsbridge Pde East sold for a record price of $9,440,000. In 2008 an 820m² block sold for $2,250,000. The more recent land release was know as 'Knightsbridge'. In 1992 when the market was depressed, there were just 12 sales on the Islands and land prices had fallen to just $285,000. In the same year a mansion in Brittanic Crescent sold for $1,050,000 despite selling two years earlier for $1,300,000. The
Sovereign Islands is home to some of the Gold Coast's most exclusive real estate, with thirteen properties selling above $5,000,000. The highest price paid for a property on the Sovereign Islands was for a property on Royal Albert Crescent in 1996 which sold for $11,000,000. There are 849 properties on the Sovereign Islands which are connected to Paradise Point by a bridge. Residents of the gated community are protected by 24 hour security guards and video surveillance. The Islands have attracted a large number of National and International buyers who enjoy the uninterrupted boating access to the nearby Pacific Ocean and Broadwater. The Islands were formed within the Broadwater and are protected by Stradbroke Island. They are part of Paradise Point and also share the same post code being 4216. There are several fashionable cafes and restaurants just across the bridge on The Esplanade. This area is also popular with families who enjoy the water front parks. Nearby Shopping Centres include
Runaway Bay Shopping Village and
Harbour Town. World class golf courses can be played at
Sanctuary Cove and Hope Island. The Sovereign Islands are approximately fifteen kilometres North of
Surfers Paradise, a journey that will take you about 25 minutes by car. In 2010 there were 75 sales on the Islands (half as many as in 2007) and the median price was just $1,595,000, twenty percent below that of 2008.
