Submission - M Parry Thomas - MCU190054

                                                TUESDAY OCTOBER 22 2015 NOOSANEWS.COM.AU




parcel of land
COMMERCIAL



THREE large blocks of land opposite Noosa’s         ON THE MARKET
key business and retail hub Noosa Civic are
being offered for sale, providing the opportunity LOTS 23.24 AND 25 WALTER HAY DRIVE.
for residential apartments under the draft          NOOSAVILLE
Noosa Plan.                                         What: Three blocks of land nominated as High Density
    The three sites - Lots 23,24 and 25 Walter Hay  Residential
Drive, Noosaville - are situated on the main        teatures: Combined area of 2.61ha. Lot 23:5055sq m
entrance into Noosa via Eenie Creek Road and       with 3769sq m developable; Lot 24:6079sq m with
are nominated as High Density Residential           5244sq m developable; Lot 25:1.497ha with 8765sq m
under the draft plan. 3                             developable. Potential residential scheme had been
       ie             ire                           drawn up for the combined site, proposingl74 one, two
either in one line or separately - on behalf of     and three-bedroom apartments over three levels
Brisbane-based company Stockwell.                   Price: Expressions of interest close at 4pm on
    Expressions of interest close at 4pm on         Wednesday, October 23. Offered for sale - either in one
Wednesday, October 23, with CBRE Sunshine           line or separately
Coast and Ray White Noosa Commercial are            Agent: Rem Rafter and Brendan Robins of CBRE, Paul
steering the sale campaign for the lots, which      Forrest and Paul Butler of Ray White Noosa Commercial
have a combined area of 2.61ha.                     Contact: 0408714 420, 0402159588,0408 985254,
    CBRE Sunshine Coast managing director           0418780 333
Rem Rafter said the properties would be ideal
for apartments - filling a void in the market for
new residential units.
    “The market for permanently occupied units
in Noosa and Tewantin has suffered a prolonged           The three lots Stockwell is offering for sale
shortage, with no land having been made             have direct pedestrian access to Noosa Civic by
available for this product type for quite some     way of an underpass under Walter Hay Drive.
time,” Mr Rafter said.                                   Lot 23, closest to the corner of Eenie Creek
    “Rental rates have increased significantly      Road and Walter Hay Drive, is a 5055sqm
over the past five years, as traditional            rectangular black with 3769sqm of developable
investment stock has been absorbed into the         land.
higher yielding Airbnb market or redeveloped           . Lot 24 occupies 6079sqm of land, of which
for luxury housing in suburbs such as Sunshine      5244sqm can be developed, while Lot 25 is the
Beach, Sunrise Beach and close to the river in      largest site at 1.497ha with a developable area of
Noosaville.”                                        8765sqm.
    Mr Rafter noted that a potential residential         All three parcels enjoy land benefits from
scheme had been drawn up for the combined           prepaid council infrastructure credits.
site, proposing 174 one, two and three-bedroom           Mr Rafter said titles were expected in mid-
apartments over three levels.                       2020 with settlement 14 days after title
   The properties are being offered on behalf of    registration.
Stockwell, the developer of the 30,000sqm                The properties are situated a few kilometres
Noosa Civic retail, homemaker and business         west of Noosa Heads, 40km from the
centre, which has become Noosa’s major              Maroochydore CBD and 35km north of Sunshine
shopping complex.                                   Coast Airport.
   Anchored by Big W and Woolworths and                  The Sunshine Coast is one of the most
offering 100 specialty stores, Noosa Civic          dynamic regions in the country, with a
opened in 2006 as the region’s first one-stop       population of about 370,000 and an economy
shopping destination.                              worth $17.7 billion in 2017-18.
   Stockwell sold Noosa Civic to Queensland              Enquires should be directed to exclusive
Investment Corporation in 2012 and reacquired      selling agents Rem Rafter, Brendan Robins,
the development in August 2019.                     Paul Forrester Paul Butler.