The sale price has been revealed for a property that was snapped up by a developer who has already lodged plans for a five-storey residential project.
Sunshine Coast developer Cube Developments secured the 11,236sqm site at 9 Onslow Street, Golden Beach, for $10,775,000.
A national expressions of interest campaign led by Colliers agents Nick Dowling and Baydn Dodds attracted 111 inquiries resulting in four formal offers, with the property sold on behalf of private owners.
A development application has already been submitted by Cube for a 60-unit residential project to be delivered on a 2034sqm portion of the site.
The proposal features views of the ocean and Glass House Mountains, resort-style amenities including a pool, a recovery spa, cafe and commercial space.
The site is currently occupied by the Golden Beach Holiday Park, with a 12-room motel-style complex, 70 powered caravan sites, a manager’s residence and amenities. It is zoned for a maximum 18-metre height limit.
The sale follows several major site transactions on Bulcock Street, including Gardner Vaughan Group’s $19 million acquisition, also brokered by Colliers, and RCQ’s acquisition with plans for a three-tower development.
Mr Dowling, the managing director of Colliers Sunshine Coast, said Caloundra was one of Australia’s most supply-constrained and tightly held coastal markets.
“We saw really strong interest in the site with developers drawn to its walkable amenity, laid-back lifestyle and the Coast’s growing infrastructure pipeline,” he said.
“The site provided an ideal opportunity for developers to take advantage of a rapidly growing pocket of the Coast.”
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Colliers special projects manager Mr Dodds said the deal highlighted the Sunshine Coast’s status as a national development hotspot.
“This transaction reflects the ongoing strength of the Sunshine Coast market and the high level of demand for development opportunities in lifestyle destinations like Caloundra,” he said.
“The Sunshine Coast is forecast to grow by nearly 240,000 people to 2046, requiring almost 90,000 new homes. That equates to around 3600 new dwellings per year just to keep up.
“The region is one of only three markets nationally to record an increase in crane activity, showing renewed momentum across the development pipeline – particularly in the residential sector.”
Cube director Scott Juniper said Golden Beach was fast becoming one of Queensland’s most sought-after property destinations.
“The once sleepy suburb of Golden Beach has well and truly arrived,” he said.
“World-class infrastructure projects, coupled with an unmatched water-based lifestyle, are fuelling growing demand in the area.”
