cover story < from overleaf The Corporate Centre is a new strata-titled development aimed at medical professionals. Developed by MCH Corporation, it will have 3600 square metres of office space and occupation is due mid-2010. Queensland Health has selected Maroochydore as the site of its expected multimillion-dollar community health precinct. It’s bought a 4.35-hectare land parcel adjacent to Dalton Drive to provide a range of medical services. A spokesperson says a review of the District Health Service plan will confirm the scope of this project and timing of construction. Rod McLean, whose agency has a rent roll of 300 landlords, predicts investors will return in numbers to the market in Maroochydore and surrounding areas. “The past year it’s been first-home buyers, but as more people get new jobs here, even during construction, tenant demand will rise along with investor opportunities,” he says. “With interest rates tipped to rise, investors will be back into buying mode.”
He points to streets behind Sunshine Plaza, Millwell and School roads and the nearby suburb of Kuluin. “A lot of people are already buying older homes in the Maroochydore Beach precinct and doing extensive renovations or pulling them down to rebuild,” says Rod. “This will become more prominent, and competition will increase. Plus we’ll have all the new housing and land products.” Bill Darby says Reed has “a lot of confidence in Maroochydore as a future cultural hub”. Its recently completed Riva building is one of Reed’s several luxury waterfront projects in Duporth Avenue. “The purchasers recently settled at Riva and, like Platinum and Aurora, this street has become a real jewel with penthouses going for more than $5 million,” Bill says. “Maroochydore is turning around and getting the focus it deserves. Clear direction from council has given developers like us a good framework to supply product to a diverse population and install a range of businesses to improve job prospects.”
Maroochydore Health Precinct land – Dalton Drive
Living Choice snaps up more land at Sunshine Cove
L
eading retirement village owner Living Choice has increased its property portfolio at Sunshine Cove (formerly Wises Farm) in Maroochydore, purchasing an additional 3.2 hectares for residential and commercial development. The investment adds to the six hectares it previously purchased at Sunshine Cove for the development of a waterfront retirement village. Included in the latest acquisition are residential north-facing, waterfront lots on Sunrise Drive, which should be available in February/March 2010. The residential lots can accommodate a maximum height of three storeys while the commercial/ mixed-use site, on the corner of Sunrise Drive and Maroochy Boulevard, can accommodate buildings of between three and six storeys. Living Choice director Ian Tregoning believes the Sunshine Cove site will prove to be the Sunshine Coast’s most sought-after residential and commercial precinct. “Sunshine Plaza is just minutes away and there is convenient and easy access to the Maroochy CBD and its many leisure and medical facilities.” The six-hectare retirement village site, to be called Living Choice Sunshine Cove, will include both independent and supported living apartments and will be the largest of the company’s eight retirement villages. With established villages at Twin Waters and Kawana Island, the Sunshine Cove village will significantly increase the company’s investment in the retirement industry on the Sunshine Coast.
An aerial view of Sunshine Cove with the Living Choice-owned land outlined in yellow Source: Queensland Government
6 My Property Review | September 4, 2009
Page 6.indd 1
2/09/2009 11:38:27 AM