A private buyer managed by AMP Capital secured MarketPlace Warner for a history-making $78,350,000.
The centre, on a site area of 6.48 hectares, is the largest neighbourhood shopping centre sold in Queensland.
Warner is located 22 kilometres north-west of the Brisbane CBD.
MarketPlace Warner is securely anchored by Woolworths and Aldi and supported by 37 specialty tenants
The centre also includes a freestanding Goodstart Childcare and surplus land of 4,305 square metres, a development pad site of 2,345 square metres and an adjoining strata retail tenancy.
With a relatively low yield of 5.18 per cent the deal was brokered by JLL’s Jacob Swan and Sam Hatcher.
“The Centre was owned by a private family company for an extended period and underwent a significant, high quality refurbishment and expansion in 2013/2014,” Swan said.
“The ownership group have chosen to capitalise on the exceptional market conditions at present for prime retail assets.”
Hatcher said the centre’s availability was a rare opportunity which attracted interest from both major institutional and high net worth private buyers.
MarketPlace Warner is located on a site area of 6.48 hectares, only 22 kilometres north-west of the Brisbane CBD in the suburb of Warner.
It is the largest neighbourhood centre within the defined trade area and one of only two centres which includes an ALDI Supermarket.
The main trade area population is estimated at 53,290 at June 2016 and is projected to increase to 67,390 residents by 2036 with 29,380 in the primary trade area.
This reflects an average annual growth rate of 1.18% in the main trade area to 2036.
MarketPlace Warner is considered to be well-positioned to benefit from the area’s population growth due to the limited competition within the main trade area.
Originally Published: www.theurbandeveloper.com
Sunshine Coast Airport Expansion Program Kicks Off
The first sod has today been turned on the construction of the new runway as part of the Sunshine Coast Airport Expansion Project, the Sunshine Coast Council informs.
Sunshine Coast Mayor, Mark Jamieson, was joined by Federal Member for Fairfax, Ted O’Brien MP, State Member for Maroochydore, Fiona Simpson MP, and representatives of the John Holland Group and Sunshine Coast Airport Pty Ltd to mark the commencement of the construction program.
With work started, the new runway will be completed by Christmas 2020, the council said.
Sunshine Coast Mayor Mark Jamieson (left), Federal Member for Fairfax Ted O’Brien (center) and John Holland Project Manager Berry Freshney
Mayor Jamieson said that the $303 million airport expansion was the Sunshine Coast Council’s single largest construction project and would deliver a wealth of benefits to the region.
“Having this greater capability will unlock more tourism opportunities, new international trade prospects and will provide the springboard our export businesses need to get their products and services to markets faster and more efficiently,” Mayor Jamieson said.
“The new longer, wider runway will enable direct access to new markets in Asia, the Pacific and other locations in Australia which cannot currently be serviced with direct flights to and from the Sunshine Coast.
“The Airport Expansion Project is also forecast to contribute $4.1 billion to the Sunshine Coast economy through to 2040 and revolutionize access to and from one of Australia’s fastest growing regions.”
From mid-year, a vessel from contractors Dredging International will dredge one million cubic meters of sand from the Spitfire Realignment Channel in Moreton Bay.
After making its way north, the sand will then be pumped from the vessel moored off Marcoola, onto the project site via a pipeline that will run underneath David Low Way.
Ahead of the start of dredging, the project team’s focus has been on protecting the land and sea environment, and ensuring community safety during the dredging works.
According to the council’s announcement, the project team will be speaking directly with local residents and stakeholders in the coming weeks to keep them informed of the timeline.
The Sunshine Coast Airport Expansion Project is being supported by loans from the Australian Government and the Queensland Treasury Corporation, which will be repaid from the proceeds that Council receives from its commercial partner, Palisade Investment Partners, in 2022.
Image source: sunshinecoast.qld.gov.au
$100 million Coast resort wins council support
A DEVELOPER’S uphill battle to build a $100 million escarpment resort has plateaued with a major change in Sunshine Coast Council’s view on the proposal.
Council officers have recommended Heidi Meyer and her husband Kim Carroll’s application to build Badderam Eco Luxe Resort and Spa on their Buderim property be approved ahead of a councillors’ vote scheduled for next Thursday.
It comes after the council’s officers last year recommended the proposal be refused.
Mrs Meyer said she and her husband had spent about $8.5 million of their retirement fund on progressing their dream, having bought the Box St site in 2014.
“There is a lot of risk in that and there is a lot of personal passion in that for us,” Mrs Meyer said.
Their proposal , lodged three-and-a-half years ago, conflicted with the council’s planning laws, with the development clashing with the property’s rural zoning.
Concerns had previously been raised by the council on issues including landslip risks, vegetation clearing and building heights.
Proposal changes since then have included reducing the number of suites from 125 to 111.
The council officers’ recommendation for approval comes with conditions including the resort must have a five-star or higher luxury rating and a achieve a six-star Green Star rating from the Green Council of Australia.
The 158 conditions also included a lengthy list of geotechnical and landscaping requirements.
“We were 100 per cent certain of the geotech(nical aspects) before we set out and that has been proven now with two council reviews,” Mrs Meyer said.
She said being a 42-year-old female developer had been very challenging in a male-dominated Coast industry.
“There has not been a lot of support for the fact that I am a female leading this project and I have felt really prejudiced but I have also felt really excited to be able to be successful at this and actually share with other females who would like to be in development.
“I feel excited to set an example of how development can be done in our region when there are more females at the helm.”
Mrs Meyer said she was excited about next week’s vote.
She said the tourism dollars brought in by the development would benefit Buderim and the wider area.
“What Buderim gets is a huge asset and so does the region.”
She said the resort would target a high-end, international market of people like business executives.
“We are trying to create an exclusive nest which is inclusive of the community.”
She said the spa would be publicly available with off-peak rates and there would be opportunities for functions and events.
“We don’t want to pull business from the cafes in the village. We want to give business to the village.”
She said she would be sad if the proposal was voted down.
“Not for ourselves at all because we will keep living.
“We can sell our land holdings here, achieve good value for them and move on.
“We will still be okay but the Buderim community, will they be okay?”
Mrs Meyer said she loved Buderim and would possibly stay in the area.
She said her team would get work started on the expected four-year build as soon as possible if the proposal was approved.
Cr Ted Hungerford said he had three meetings planned with residents this weekend to discuss the proposal.
He said his vote would take into account the feedback he received.
“I will be conferring with them and getting their opinions,” Cr Hungerford said.
FOR SALE: 86 new Coast waterfront apartments up for grabs
With record sales achieved at North Shore, Salt, Waterline and Aquarius at Oceanside Kawana, highlighting the strength of the Sunshine Coast market and increasing attention from national and international investors, RGD Group is set to launch Southbank.
Two hundred and forty waterfront apartments adjacent to the new Sunshine Coast University Hospital, across four sites, have been sold by the RGD Group over the past 24 months.
Their projects, with a combined value of $120 million, sold out prior to completion.
RGD Group managing director Ron Grabbe recognised the positive impact of the $2 billion 450-bed Sunshine University Hospital and the 200-bed Sunshine Coast University Private Hospital.
“On launching North Shore Oceanside Kawana in September 2015, we had great demand from astute investors and owner occupiers from around Australia and overseas who saw the growth potential and convenience of owning waterfront property adjacent to these world-class medical facilities,” Mr Grabbe said.
“Much-needed accommodation for thousands of hospital staff and visiting families is now a reality and our apartments are proving to be one of the healthiest investments available in Australia right now.”
Southbank at Oceanside, adjacent to the Sunshine Coast University Hospitals, new town centre and Southbank Park, features one, two and three-bedroom apartments and sky homes.
The development represents RGD Group’s largest project in the Oceanside Health Hub to date and will be launched on March 6.
Mr Grabbe said all Southbank apartments faced the water and delivered a tranquil and relaxing home for those working in or visiting the hospitals, and owner occupiers who find comfort in living close to the world-class medical facilities.
“Southbank at Oceanside on the corner of Lake Kawana Boulevard and Mantra Esplanade, Birtinya will provide the opportunity for medical professionals and savvy investors who may have missed out on our previous projects to secure a waterfront apartment to cater for the thousands of hospital shift workers needing accommodation close to their work,” Mr Grabbe said.
Sales and marketing manager Gail Hunter said vacancy rates on the Sunshine Coast were tightening and the region was experiencing one of the fastest population growth rates in Australia.
“With significant infrastructure projects just completed or under way, Southbank at Oceanside is ideally positioned to realise great returns and lifestyle benefits for both investors and owner occupiers.
“A large percentage of the tenants in our projects work in the hospitals.”
RGD Group design, sell, build and manage their projects, enabling investors and owner occupiers to purchase directly from the developer.
Originally Published: www.sunshinecoastdaily.com.au
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