A proposal has been announced for a $100 million surf ranch on the Sunshine Coast with 11-time world champion Kelly Slater’s name attached and a Brisbane-based heavyweight to develop the project.
Consolidated Properties, led by Don O’Rorke, confirmed with The Urban Developer that the group is behind the project in a move that would see it partner with the World Surf League on the development.
The surf ranch, which would span a 529-hectare site in Coolum, would deliver a sporting and tourism facility – valued at an estimated $100 million – in an announcement made by the pro-surfers governing body WSL which own a majority stake in Slater’s company.
It’s understood that construction company Hutchinson Builders, led by Scott Hutchinson, could also be part of the major Sunshine Coast project.
The project includes the development of an eco-lodge, event and training facilities, public open space and an environmental experience centre, located in proximity to the Sunshine Coast airport.
WSL Asia Pacific general manager Andrew Stark described Australia as a core market for the WSL.
“We want to ensure we and our partners strike the right balance between economic development and sustainable growth for the coast,” he said.
“And we view the Sunshine Coast as a natural home for a Surf Ranch, given its culture, history, and roots within surfing as well as its pristine beaches and commitment to environmental sustainability.”
The original Kelly Slater surf ranch, based in California and recently visited by tourism minister Kate Jones, originated from Slater’s wave-technology company aiming to create the “perfect wave” for surfers.
“Having seen this experience first-hand, I can say without doubt that this will be a major drawcard for thousands of people around the world,” Jones said.
Visit Sunshine Coast chief executive Simon Latchford said having Slater’s name attached to the project would increase the region’s appeal.
“While Visit Sunshine Coast is enthusiastic and excited by the project, we are very mindful it must fit the approval criteria laid down by Sunshine Coast Council and state government,” Latchford said.
Subject to planning, Stark says the project could be in operation by 2021.
Aria Gets Green Light for $350m Mooloolaba Project
Residential developer Aria Property Group has received approval for a landmark 5-star hotel development on Queensland’s Sunshine Coast.
The developer, led by Tim Forrester, has identified the region for its growth, and lack of five-star hotel accommodation limiting the range of tourists visiting the Sunshine Coast.
The region is also set for massive change through the construction of a new $225 million runway at the local airport which will facilitate direct flights to and from Asia and bolster development of the new CBD in neighbouring Maroochydore.
Aria’s latest approval, located at 1 The Esplanade in Mooloolaba —opposite Mooloolaba Surf Club, draws on its previous projects on Brisbane’s Edward Street and the emerging Fish Lane precinct.
The 2,591sq m site, including retail and two small stand alone houses, was amalgamated and bought back in 1991 by Rod Forester.
Aria has been working on this project for over a decade and intensively for the last five years.
In a tentative lending market, the five-star development will be tailored to owner-occupiers with 66 residential apartments, as well as an international standard hotel comprising of 139 guest rooms.
The developer tapped architecture firm Elenberg Fraser to design the tower, which is located on the last available section of the Mooloolaba Esplanade.
The integrated resort will feature 1,764sq m of retail and restaurants, a day spa, conference facility and publicly accessible roof-top bar and restaurant.
“Both Tim and I grew up in Mooloolaba, and for us it is home,” Aria development director Michael Hurley told The Urban Developer.
“It’s incredibly rare to find a beach within Australia, that’s north facing, protected by the headland, bounded by the spit, river and harbour.
“This combination with an amazing array of beachfront accommodation, quality dining options, retail, amenities and activities already in place creates the perfect mix for anyone to live or holiday in Mooloolaba.”
The project’s rooftop will reference iconic buildings like the Marina Bay Sands in Singapore, W Hotel Barcelona and One Hotel South Beach Miami.
“We are starting to see and feel a real buzz beginning to happen in town, and you just have to look at the amazing things that the Matt Evans & Dirk Long have done in transforming the Wharf into a thriving retail and dining precinct, SCRC embarking on stage one of the Mooloolaba Masterplan with its new boardwalks and carparks,” Hurley said.
“All of these projects are a real credit to the leadership and vision of the council.”
Speaking at The Urban Developer’s annual residential property summit, Hurley said Aria’s brand reputation and philosophy for placemaking had allowed it to press forward with high-end developments in challenging market conditions.
Aria now aims to release residential units for sale in 2020 ahead of a 2021 construction start.
Recently, the group established Aria Living, its management rights division. The scheme provides long-term owner-occupied buildings with concierge services as well as communal events.
It also offers complimentary personal training, yoga classes, resident bikes and hotel-type services.
Earlier this year, Aria lodged plans for a 13-storey, 127-apartment residential tower in Brisbane’s Kangaroo Point, where Aria Living will be enacted.
The developer also recently completed Valencia in Kangaroo Point and The Drapery in Woolloongabba. The developer also has plans for a 145-apartment tower in West End, designed by Rothelowman.
Sunshine Coast market slowdown effects varied across region: HTW residential
The Sunshine Coast property market is diverse, according to a recent Herron Todd White (HTW) residential report.
The report notes properties in the Sunshine Coast market cover a wide spectrum through the various sectors of units, homes and rural residential properties.
“One of the big drawcards is the coastline and the magic beaches on offer, but when you dig a little deeper, there are little pockets all over the coast,” the valuation firm said.
“When looking at the unit market there is no doubt the most popular spots are within a kilometre of the coast,” the valuation firm said.
Caloundra, Mooloolaba, Maroochydore and Noosa Heads remain popular.
For entry level product, the older walk up style units have been good as they offer low body corporate fees and are usually positioned pretty close to the beach.
“As you move higher up the value levels, permanent style occupancy units remain highly sought after as these have provided a real alternative for those looking to downsize from prestige dwellings,” the valuation firm added.
“Typically, these units are larger providing at least three-bedroom accommodation with double garages.”
The report notes some coastal towns such as Coolum Beach have increased in popularity, especially for new product.
A complex within this location that is nearing completion has completely sold off the plan and the developer is looking to release a new project in this locality off the back of the increased interest.
The biggest impediment to the unit market is units in complexes with high body corporate fees.
A three bedroom oceanfront unit at 5/141 Coolum Terrace, Coolum Beach (pictured below) has recently been sold for $955,000.
It comprises master suite with ocean views, two additional bedrooms, living area, kitchen and private courtyard.
Additional features include swimming pool, remote tandem garage and storage space.
- SINGLE UNIT DWELLINGS/HOMES
Close to the coast, within three to four kilometres, remains the most popular sector.
“Areas surrounding Caloundra such as Moffat Beach, Shelly Beach and Dicky Beach for the middle to prestige markets have had some good levels of growth as has the Kawana strip up to Buddina. This also continues right up the coast from Mudjimba to Noosa,” the valuation firm notes.
“As you move further inland, opportunities arise for the entry level markets with proximity to amenities such as schools, cafes and the like being top of mind. Railway townships from Beerwah to the south, right through to Cooroy to the north and the sense of community that these areas offer also have a good bearing.”
- RURAL RESIDENTIAL
For the rural residential markets, as with the inland dwelling market, proximity to amenities is also top of mind.
“For prestige properties, areas around Buderim continue to remain popular given their proximity to private schools and the Sunshine Coast University. Also, northern areas of the golden triangle between Tewantin, Cooroy and Eumundi continue to be popular.
“We add in here areas on the Blackall Range of Maleny and Montville, some of which provide good local rural, hinterland and distant coastal views,” the valuation firm noted.
A current listing is a Buderim pavilion style house priced at $1.9 million.
Nestled on 8,516 square metres, the home at 18 Stringybark Road (pictured below) comprises four bedrooms, games room, gourmet kitchen, living zones and swimming pool.
It’s situated moments from the village and Matthew Flinders College.
For the entry level rural residential market, like the housing market, railway townships can provide some good options where there remains an ability to purchase properties at below replacement cost.
“As initially mentioned, generally the Sunshine Coast property market is very diverse.
“We have noticed that over recent months we have started to experience a slowdown, but following on from the different market sectors, this slowdown is very much property and area specific. You simply cannot tar everything with the same brush.”
Sunshine Coast braces for huge auction event as demand steps up from southern buyers
Competition is expected to be hot at a special multi-property auction event on the Sunshine Coast this weekend.
Ray White’s fifth annual auction event will see dozens of properties go under the hammer in-room on Sunday.
However, demand for the coast’s enviable lifestyle has already seen some of the listings snapped up by keen buyers.
In fact, the first weekend of open homes for the event resulted in 20 to 25 groups through some of the properties.
Since the first multi-office auction event on the Sunshine Coast in 2015, $85 million in sales have been achieved from the auction of 195 properties with an average overall clearance rate of 95 per cent.
Ray White Maroochydore director and auctioneer Dan Sowden said interest in the Sunshine Coast from interstate migrants as well as locally had meant this year’s event had recorded strong early results.
“I personally haven’t been involved in a large campaign of this nature that started as quickly as this one has,” Mr Sowden said.
“So, I think it’s the fastest start to any campaign that we’ve seen. Essentially, it’s the fastest start of all of the four years.”
Strong interstate migration was playing its part in the early successes, he said.
According to the Australian Bureau of Statistics, the Sunshine Coast recorded the second highest number of net interstate migrants for any major regional areas in the 2018 financial year.
Mr Sowden said Sydney and Melbourne buyers were seeing “extreme value” in the Sunshine Coast compared to southern capital city markets.
“Buyers between $1 million and $2 million, largely are either people downsizing their homes to big apartments, which is a really huge driver for us, or they are people relocating from Sydney and Melbourne,” he said.
“People relocating from Sydney and Melbourne, I’d say there is extreme value for them. Properties are being snapped up literally on the first weekend from buyers who don’t want to see it go to auction.
“So, not only is there extreme interest, but there’s also that urgency as well and when those two things come together, that’s a really good time in the property market.”
According to Domain Group data, the median house price in Mooloolaba increased 11.5 per cent to $847,500 over the year ending in June and has increased 50 per cent over the past five years.
In nearby Maroochydore, which is the epicentre for one of the largest urban regeneration projects in southeast Queensland in the creation of its new city centre, the median house price has increased by nearly 41 per cent to $620,000 over the past five years.
“There were a lot of property commentators earlier on in the year suggesting that the market has peaked on the Sunshine Coast and things were going to tail off like the rest of the country, but what we’re seeing on the ground is the opposite,” Mr Sowden said.
“So, you want to be in it to win it. Get in there or pay more next year.”
The Auction Event 2019 is on Sunday, September 22 at Mercedes-Benz Sunshine Coast, 65 Maroochy Boulevard, Maroochydore. Registrations open at 9am and the auctions commence at 10am.
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