- Sunshine Coast's population is expected to reach 526,500 by 2041
- Site currently under Principal Centre Zone - which allows for numerous development possibilities
A rare site adjacent to Sunshine Plaza regional shopping centre close to the centre of Maroochydore, an emerging Sunshine Coast suburb, has been listed for sale.
The listing comes as the Sunshine Coast is currently one of the fastest-growing regions in Australia. The population is expected to reach 526,500 within 20 years – approximately a 2.6% increase in population per annum. Additionally, the local economy is forecast to almost double to $33 billion by 2033.
The 2-hectare development site currently has approval for the site to be reconfigured into two land parcels separated by the waterway. 7,363 square metres is approximately the size of the developable land area.
The adjoining Sunshine Plaza currently houses over 320 speciality stores including David Jones, Myer, Target, Coles, JB Hi Fi, Woolworths and an Events Cinema. The shopping centre is the Sunshine Coast’s largest and recently underwent a $400 million renovation and expansion
Nearby is a new $2.1 billion Maroochydore City project. Located on 53 hectares of land, the site previously hosted the Horton park golf course.
The first building of the project – the fully tenanted Foundation Place – is currently open for business. Walker Corporation, one of Australia’s largest private development companies, is currently working with the Sunshine Coast Council to deliver a further 160,000 square metres of retail and commercial space along with 4000 new apartments.
Rem Rafter, CBRE Sunshine Coast Managing Director, and colleague Bremdam Robins are marketing the property with Mr Rafter remarking that the development opportunities are endless.
“The 2.014ha site is presently vacant and is situated with a Principal Centre Zone, which allows building heights up to 25 metres and offers numerous development possibilities, including mixed-use retail, a resort complex, residential apartments, an office block or a range of other business uses.”
Rem Rafter, CBRE