Real buzz with CBD re­vamp

Sold On Sunshine Coast - - Suburb Profile | Maroochydore -

THERE is a real buzz around Maroochydore at the mo­ment.

There seems to be some­thing hap­pen­ing ev­ery­where you look, whether it be new de­vel­op­ment projects or venues. It’s more like an un­wrap­ping or an awak­en­ing as ar­eas have be­come more walk­a­ble and invit­ing.

New streets, cy­cle paths and an ur­ban square are start­ing to take shape, breath­ing new life into the heart of the re­gion.

Be­tween ocean and river, Maroochydore has been des­ig­nated as the Sun­shine Coast’s com­mer­cial hub and is liv­ing up to that with the de­vel­op­ment of the new 52ha CBD.

With ground work well un­der way, and street con­nec­tions in progress, the Maroochydore CBD is start­ing to take shape.

Smart in­fra­struc­ture, in­clud­ing the un­der­ground ser­vices, are near­ing com­ple­tion and street con­struc­tion is well ad­vanced.

Perime­ter works on the CBD have in­cluded the Evans St up­grade and Maud St ac­cess, along with work on the gate­way site at the cor­ner of Aero­drome Rd and Maud St.

Prop­erty is big busi­ness as re­tail­ers, pro­fes­sional ser­vices and res­i­dents want to po­si­tion them­selves around the hub, to utilise the ideal space within the CBD.

Lendlease are ad­vanced with the $400-mil­lion ex­pan­sion of Sun­shine Plaza, which will see a num­ber of new spe­cial­ity shops in­tro­duced to the area.

A fur­ther $40 mil­lion will be spent on ma­jor re­fur­bish­ments to the ex­ist­ing cen­tre, in­clud­ing a re­vi­talised town square meet­ing area and River­walk precinct.

The $20m re­fur­bish­ment of the Big Top shop­ping com­plex bor­ders on to the Ocean St precinct.

Once purely re­tail, this hive of eater­ies by day and clubs by night has gen­er­ated new life into the zone.

Other busi­nesses are repo­si­tion­ing them­selves around the city heart in prepa­ra­tion for the de­vel­op­ment planned for the next two decades.

At the south­ern end of the CBD, Bun­nings have shown con­fi­dence in the Coast with a $40m su­per­store in Dal­ton Dve, with Of­fice­works fol­low­ing suit.

To­day, at the heart of change in the Sun­shine Coast prop­erty mar­ket, Maroochydore of­fers a va­ri­ety of prod­uct as well as price points.

Sun­shine Cove, a res­i­den­tial es­tate in the CBD, is near­ing the fi­nal stages. The in­no­va­tive house de­signs are ap­peal­ing to a wide range of buy­ers, from first home buy­ers to down­siz­ers.

At Pic­nic Point, Pin­na­cle and The Ivy are un­der con­struc­tion, while Vue on Brad­man Ave is near­ing a start.

Other de­vel­op­ments in­clude The Cos­mopoli­tan at Cot­ton Tree, which is com­ing out of the ground, and Tide Res­i­dences along Broad­wa­ter Dve, where ground work is well ad­vanced.

The me­dian sales price at Fe­bru­ary was $610,000, up from $570,000 in Jan­uary 2017 and there has been steady growth over five years from $442,500.

The me­dian unit price was $417,500, up from $410,000 in Oc­to­ber, ac­cord­ing to CoreLogic.

The me­dian land price is $270,500.

The num­ber of house sales for the 12 months to Fe­bru­ary 2018 was 171, com­pared to 130 in 2009.

Units sales were 487 for the year to Fe­bru­ary, and 431 in 2009, while land sales were 119 as op­posed to nine in 2009.

Most house sales for the year were in the $400,000–600,000 (68) and $600,000–800,000 (73) ranges.

It was also at the pointy end of a very tight rental mar­ket, with real es­tate agen­cies re­port­ing low rental va­can­cies.

This brought con­fi­dence back into the in­vest­ment mar­ket and it is lit­tle won­der.

PHOTO: PATRICK WOODS

An ae­rial photo of the CBD de­vel­op­ment in Maroochydore.

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