Today marks a very exciting day in the development industry. Town planners often talk about village centres and the creation of place making. Well, Maroochydore on the Sunshine Coast is about to undertake this on a whole new level. The first sod will be turned today by the Queensland Premier in what will be the new CBD of the Sunshine Coast.
This is truly remarkable because most CBD’s evolve over time and have a long history which is often limiting to what can be achieved today. Everything has to be retrofitted to a centre which may well have infrastructure that is half a century old or more.
The opportunity that SunCentral in Maroochydore must embrace for the Coast is to be the most modern city in Australia. It is not constrained by the past. Its timing could not be more perfect with both State and Federal governments recognising the importance of innovation as well as the export of world leading services. Local Government is also highly in favour as stated by the Mayor in yesterday’s Mayoral debate hosted by the UDIA Qld.
So what are some of the redeeming features of this new CBD?
- The site is 53 hectares in size but will have 40% allocated to waterways and park lands. This will be a very pedestrian friendly space which is activated by the integration of the green spaces and cooling effects of the lakes.
- The project was importantly declared a Priority Development Area by the Queensland Government which should allow for a speedier transition through some of the planning hurdles that can often delay larger projects.
- Stage 1 will provide the following investment/development opportunities;
- 450 Residential apartments that will assist the concept of an 18 hour city. With approximately 900 people living on the site in the early stages will assist retail, office take up and try and achieve that mystical work-life balance.
- There will be approximately 22,000m2 of retail space ready to develop and
- Approximately 36,000m2 of commercial space available.
- It is understood that SunCentral are currently seeking interest for a premium hotel/resort combined with a convention and exhibition centre. These is something that Sunshine Coast has had a high requirement for and too date, unable to deliver. The completion of a convention centre would create significant growth in the business tourism sector and likely erode some marketshare from the Gold Coast.
The development of this smart city is expected to contribute 14,000 new jobs to the region over the next 25 years with more than 2,500 created in the first five years. There is an expectation of 5,000 additional jobs created directly and indirectly in the retail sector whilst the commercial aspects should generate 18,000 new jobs, both directly and indirectly. (Not The NPR Co.'s figures).
Clearly this is an opportunity for Australia as a nation to showcase our technology, our knowledge and demonstrate what a futuristic coastal city should look like. The spotlight is certainly on SunCentral.
Recent studies undertaken by The NPR Co.
• Gold Coast Masterplanned Residential Community Analysis
• Sunshine Coast Masterplanned Residential Community Analysis
• Fortitude Valley Apartment Market Study
• Beachfront Residential on the Sunshine Coast
• Ipswich Land Study
• Gold Coast Apartment Market Supply Analysis
• Western Ipswich Land Supply Investigation
• Boutique Land Analysis in Rochedale
• Central Queensland Resort Study and Demand Analysis
• Rockhampton Residential Market Study
• Project Positioning Reports- Redlands, Northern Brisbane Suburbs and Near City Suburbs.
• Tourism in Off Season High Country Destinations
Contact the team at NPR Co, a truly independent Property Economics and Research House to help with your next project, creating strategies in the marketplace and help mitigate risk whilst enhancing profitability.
The National Property Research Company
Level 1, 307 Queen Street
BRISBANE QLD 4000
Ph 07 3229 0111
Be In The Know – The National Property Research Co.