DRONE: Development of Maroochydore CBD in August, 2020. Picture: Patrick Woods
DRONE: Development of Maroochydore CBD in August, 2020. Picture: Patrick Woods

Major CBD land deal announcement imminent

A major deal is reportedly about to be struck for the balance of developable land in the new Maroochydore CBD.

The Daily understands a major announcement is imminent for the Maroochydore CBD, a 53ha, $430 million development being overseen by Sunshine Coast Council-owned SunCentral.

Sources told the Daily an announcement was expected in the next few weeks confirming a deal which had been in the works for about 12 months.

12-month goals revealed for new CBD

It was understood the announcement would confirm either the sale of the balance of the land, with caveats around required amounts of residential, retail and office space, or that a joint venture partner was being brought in on the project.

A Maroochydore CBD artist’s impression.
A Maroochydore CBD artist’s impression.

It was understood a New South Wales-based company had come on board as a joint venture partner, although the value of the expected deal, its impact on the project budget or council's financial exposure on the project was unknown.

Expressions of interest for the balance of land within the new Maroochydore City Centre closed in August last year, and SunCentral had reported a strong response to the offering.

A total of 121,210sq m of pre-approved, developable land had been offered to the market as part of the expressions of interest process.

SunCentral had sought Tier One developers and institutional capital groups to enter into a "long-term partnership with SunCentral to master plan, build and deliver a unique CBD development" as part of the expressions of interest process.

DRONE: The site of the new Maroochydore CBD, in August, 2020. Picture: Patrick Woods
DRONE: The site of the new Maroochydore CBD, in August, 2020. Picture: Patrick Woods

The Daily reported in October last year that interest in the balance of land offering had come from both Australian and overseas firms.

Major firm rules out play in Maroochydore CBD

A SunCentral spokesman said the Maroochydore City Centre project's balance land expression of interest process was still underway and the process was "commercial in confidence". 

The Daily has put questions to council about the expected announcement.

The first buildings were under construction in the new CBD, including Foundation Place by Evans Long and other projects from Habitat Development Group and council's new city hall building.


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