Various private improvements in Bli had encountered solid interest from a mixed bag of purchasers – to a great extent because of the town’s “reinvogration” driven by arranged foundation.
Increasing demand and major infrastructure spending are transforming one neighbourhood, with the trend set to continue.
2015 is expected to be the “biggest year ever” for the town of Bli Bli on the Sunshine Coast, which is “firmly cementing itself as a property hotspot”, according to PRD.
Damian Brown of PRD Project Marketing Sunshine Coast said the Riverside locale has undergone a major transformation over the past few years, with strong demand for a variety of local residential communities and major infrastructure spending well underway.
“The historic community that many people know by the iconic Sunshine Coast tourist attraction is experiencing a ‘coming of age’ at the moment,” he said.
“Bli Bli’s history dates back to the turn of the 20th century, when the town was established and the first school opened in the area, but in recent years it has grown in popularity and morphed from a sleepy little town into a thriving residential community.”
Mr Brown said the region had experienced enormous growth over recent years, with the company’s “on-the-ground research” indicating the government’s current projections of a 2.5 per cent population growth rate may be too conservative.
“[Our research] of sales and new homes built and occupied showed a net increase of 450 residents – or close to seven per cent growth. We expect this sort of growth to continue well into this year as well,” he said.
In addition, Mr Brown said there is more than $522 million in infrastructure investment planned over the next decade to cater for the ongoing growth – including a major new housing project, major new retail/medical/commercial development, schools, transport and recreation infrastructure – $100 million of which will be rolled out in 2015.
Mr Brown also cited the proposed new 4,000-square-metre three-level Bli Bli Village Centre as a sign of impending change and something that will open up the town to “a number of new enterprises never seen before in Bli Bli such as a gym, a tavern, professional offices and a diverse range of medical practices”.
The rest of 2015, he said, will see Bli Bli further transform, with the sell-out of two major developments (Parklakes and Halcyon Landing), and the launch of Parklakes 2 – a 700-lot masterplanned residential community.
Mr Brown said a number of residential developments in Bli Bli had experienced strong demand from a variety of buyers – largely due to the town’s “reinvogration” driven by planned infrastructure, the already completed $15 million redevelopment of the IGA and the River Markets shopping precinct, and upgrades to the Sunshine Castle and the Cable Ski Park.
“Bli Bli is also in a convenient location – not only does it have growing infrastructure itself, but it’s also close to the Sunshine Plaza in Maroochydore, Mudjimba Beach, Nambour and the Bruce Highway,” he said.
“The nearby Sunshine Coast Airport expansion, which will deliver a second runway, new terminal complex and aviation industry precinct, is currently in the EIS assessment stage and due to commence in 2016 and the region’s new multibillion-dollar hospital and medical precinct at Kawana is also just 15 minutes away.”
He said all these factors were drawing in owner-occupiers, but investors are starting to take notice and will be “impressed with returns down the track”.
“Bli Bli is landlocked, which means supply is limited. It used to be home to the Sunshine Coast’s sugar cane industry, and while most of the industry is gone the land has been designated as green space which is not permitted for development under the urban plan.”
PRD cited SQM Research figures which place the residential vacancy rate in Bli Bli below one per cent, with rents growing 9.2 per cent in the past 12 months.
“The first lots at Parklakes sold for around $100,000 in 2003 and are now selling from $231,500, representing an increase of more than 10 per cent per year,” Mr Brown said. “The millions of dollars in infrastructure planned over the next few years in Bli Bli will only increase demand and combined with limited supply, land prices will be pushed up further.”
Mr Brown said the perfect storm was brewing in Bli Bli for investors, with not only all the infrastructure and growth occurring, but the recovery of the broader Sunshine Coast market.
“The Sunshine Coast market has had its ups and downs since the global financial crisis, but it’s now firmly in the sights of many investors, with all the fundamentals aligning,” he said.
First Look at Sunshine Coast’s New $430m CBD
Top-tier investment and development firms are being invited to partner on the next stages of one of south-east Queensland’s largest urban regeneration projects.
The vision for the Sunshine Coast’s new central business district has continued to take shape with an expression of interest campaign launched for the forthcoming development stages.
The 15-hectare site of the proposed Sunshine Coast’s central business district, formerly Horton Park Golf Club, was bought by the Sunshine Coast Council for $42 million in 2015.
Sunshine Coast Council-owned company SunCentral, kickstarted by Queensland Premier Annastacia Palaszczuk in 2016, has since completed civil works in the core commercial precinct with construction of the CBD’s first buildings expected to start mid-year.
Underground waste and digital infrastructure facilities have now been completed with construction on 38,500sq m of commercial buildings in the first stage, which has already gone to market, was expected to start mid-2019 along with 23,000sq m of retail and 460 new apartments.
The city centre’s first buildings include an eight-storey commercial property by local developer Evans Long and a two-tower 152-unit residential complex by Brisbane’s Habitat Development Group.
This is in addition to a nine-storey Sunshine Coast Regional Council headquarters building, tipped to commence construction over the next six months.
SunCentral Maroochydore chief executive John Knaggs said the EOI process for the extensive next stages of the project called for experienced urban development capital funding partners to help develop key precincts.
“This is a unique opportunity for experienced developers and institutional capital groups to enter into a long-term partnership with SunCentral Maroochydore and set a new benchmark for city centre design and development in one of the fastest growing regions in the country,” Knaggs said.
The EOI campaign is offering the opportunity to build 67,500sq m of commercial space as well as retail floorspace and residential apartments across a number of precincts in the new city centre.
The site includes $10 million in underground digital waste and lighting facilities and includes space for 25,900sq m of retail and up to 1,390 apartments along waterways.
SunCentral has since leased some blocks of land in the core commercial area of the new CBD and has guided the civil works and underground infrastructure stage.
“Some of this development opportunity is located in the core commercial precinct while the majority is in the area south of the Corso waterway, adjacent the future rail station and transit plaza and in mixed-use apartment precincts alongside planned waterways and parkland,” Knaggs said.
The CBD will also feature a 250-room hotel which with 100 residential apartments, 40,500sq m of retail as well as commercial and entertainment space.
“Offering individual parcels has worked well for the first stage of the commercial precinct,” Knaggs said.
“However, in response to market feedback these next stages, involving both commercial and mixed-use areas, offer larger precinct-wide approaches.”
“We are able to provide a wider platform for capital groups and developers to operate longer term – and I’m sure this approach will help facilitate the development of key parts of the city centre.”
Apart from the new international broadband cable that will connect to a landing station located alongside the new CBD, more than $10 million in underground telecommunications and services capacity has been installed beneath the city centre’s new streets.
“Once people see the cable landing station completed and the cable connected from Guam giving this site and the Sunshine Coast the fastest data connection cable to Asia on the east coast of Australia that will generate additional interest,” Knaggs said.
The smart city framework for the new CBD includes digital signage, lighting and other “smart” technologies as well as the country’s first CBD-wide underground automated waste collection system which will transport waste from businesses and apartments through a series of underground pipes to a central collection station.
The Sunshine Coast Council has estimated up to 2 million more passengers would be flying into the region by 2040 once the region’s expanded airport was operational by 2020.
Over recent years the Sunshine Coast has attracted billions of dollars in public and private investment, making the regional economy one of the strongest in the state.
With the arrival of new infrastructure, analysts project the Sunshine Coast’s population to grow from 346,522 to 500,000 by 2036.
The expressions of interest on the next 15 hectares of the site can be lodged until 30 August.
Palmview’s largest masterplanned community releases land and park ahead of schedule
A SUNSHINE COAST developer has fast-tracked the latest land release to meet demand from locals and interstate sea-changers.
AVID Property Group general manager Queensland Bruce Harper said their development Harmony was the largest masterplanned community in Palmview, which is about 85km north of Brisbane.
He said they released the latest neighbourhood Unity, which brought 34 more blocks of land, ranging in size from 250sq m to 505sq m, to meet the demand.
“Residential property demand is surging in the region and as prices continue to rise, buyers are increasingly looking for affordable land options in desirable locations,” Mr Harper said.
“Over the past year, demand in the region has grown exponentially as more people look to build their own homes in well-known property ‘hot spots’.”
Along with the early land release, AVID Property Group opened the community space Grand Linear Park three months ahead of schedule.
Mr Harper said the park was five times the size of other standard parks on the Sunshine Coast.
“The Grand Linear Park will serve as a catalyst for wellbeing and connectivity for residents and tourists alike,” he said.
The first $3.1 million phase consists of 2ha of community space and features three separate play areas for locals to explore.
A set of six swings, two table tennis tables and a 30.2m multi-play structure with a slide, spider’s web, swinging ropes and stepping stones was available for children of all ages and abilities.
According to Queensland Government’s Queensland Regional Profiles — Sunshine Coast Local Government Area, April 2017, Sunshine Coast’s population is projected to grow from about 311,550 to 453,000 by 2036.
Once complete, Mr Harper said Harmony would account for more than 4800 homes for about 12,000 of those future residents.
“Our new neighbourhood will encourage residents to stay active right on their doorstep with extensive walking and bike trails, a 5ha recreation park and a 1ha local park,” he said.
Sunshine Coast local Alyssa Jackson and her partner James Newcombe who recently moved up from Canberra, have just purchased a block of land in Harmony and hope to move into their new home in early 2019.
“It’s pretty competitive to purchase a block of land at Harmony; there were other buyers lining up for almost two hours before the Sales Centre even opened,” Ms Jackson said.
“Harmony’s location was what really encouraged us to purchase in the area — the proximity to the highway, University of the Sunshine Coast, hospital and the shops in the Maroochydore CBD make it a very convenient location to live.”
Ms Jackson said they wanted to enter the property market as soon as possible and decided to build a brand-new home so they could take advantage of the First Home Owners’ Grant.
“We wanted to get into the property market so that we could pay off a mortgage rather than continue to pay money renting,” she said.
Sunshine Coast Golf Course with Approval for 260 Lots Hits the Block
The 160-hectare Pelican Waters Golf Course site, which was acquired in 2004 by a Melbourne family that wishes to remain anonymous, has hit the market after receiving development approval for a new residential precinct in the area.
Approved by the Sunshine Coast Council in 2017, the “Lakes Edge” residential precinct is earmarked for 211 residential lots and three medium-density sites subdivided to create up to 259 lots over 20-hectares.
Designed to be delivered over four stages, with stage one approvals in place for 60 lots the development was subject to some controversy by local residents opposing the development.
The residential development was put forward by the owners of the site as a solution to lacklustre turnover at the golf course.
CBRE’s Brendan Robins and Rem Rafter are marketing the asset.
Robins said the property represented an outstanding opportunity to capitalise on the strong demand for quality land and housing in a sought-after area of the Sunshine Coast.
“Lakes Edge offers a diverse range of staged development options, including a large-scale retirement community, which take advantage of the area’s tranquil, picturesque and secure setting.”
Despite being named the top course on the Sunshine Coast by Golf Digest Magazine, documents submitted to council outlined concerns with the club’s profitability.
“Independent forecasts conclude that Pelican Waters Golf Club will not generate an acceptable level of commercial return for at least seven to 10 years,” the proposal said.
Located five minutes to Caloundra and 90 kilometres from Brisbane, population growth in the Pelican Waters area grew 24.5 per cent over the five years to 2016.
The property is being offered for sale via expressions of interest closing 8 August 2018.
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