A site with existing development approval on a Coast town’s main street has sold for $17 million.
The 6183sqm site at 139 Bulcock Street and 70-76 Omrah Avenue, Caloundra, was sold by long-time Sunshine Coast developer, Henzell Property Group.
The site, which has ocean and hinterland views and is within walking distance of the CBD and beaches, holds approval for a mixed-use project up to 30 metres high, with the possibility of increasing that to 45 metres.
The successful buyer was a private builder-developer with extensive high-rise delivery experience. They have already engaged local architecture firm OGE Group to prepare plans for a staged mixed-use apartment project.
Henzell Property Group director Mclean Henzell said the transaction was a deliberate pivot point for the company.
“This is a great result for Caloundra’s property market and it will be fantastic to see the revised development proposal get out of the ground,” Mr Henzell said.
“For Henzell Property Group, this sale marks a planned shift away from apartment development in the CBD over the next few years and a renewed focus on delivering high-quality townhouse and low-rise product for the Caloundra region.”
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Four generations of the Henzell family have helped shape Caloundra since the 1930s, from early subdivisions through to the master-planned Pelican Waters community and its latest luxury apartment enclave, The Cove.
“Our role now is to reinvest in the next chapter of Pelican Waters and other townhouse-style projects where we see very strong owner-occupier demand from locals and downsizers in addition to families and professional couples,” Mr Henzell said.
“At the same time, we are pleased that an experienced builder-developer has secured this CBD site, with delivery capability to realise the next wave of apartment product that Caloundra clearly needs.”
Colliers manager for special projects Baydn Dodds, who managed the expressions of interest campaign from March 2025 with colleague Mark Wollin, said the sale attracted an increased number of buyer inquiries.
“We engaged with more than 80 buyer groups during the campaign and both inquiry volumes and the level of engagement were noticeably higher than for comparable Caloundra residential development sites marketed in the previous couple of years,” Mr Dodds said.
The majority of interest came from private developers based on the Sunshine Coast, across South-East Queensland and from interstate groups in New South Wales and Victoria.
“The depth of buyer interest and the eventual unconditional contract at $17 million further enforce the market confidence in Caloundra as an emerging Sunshine Coast destination undergoing major transformation and renewal,” Mr Dodds said.
Auction results
1 Hibiscus Street, Parklands
Sold under the Hammer for $901,000
3 bed, 1 bath, 2 car
Ray White Nambour, Kristy Cannon
34 Mayfield Street, Nambour
Sold under the hammer for $715,000
3 bed, 1 bath, 1 car
Ray White Nambour, Matt O’Grady
33 Heath Lane, Kureelpa
Passed in at $1,300,000
3 bed, 2 bath, 2 car
Ray White Nambour, Shona Van Der Steen
124 Glenview Road, Palmview
Passed in at $1,300,000, contact agent
4 bed, 2 bath, 4 car
Ray White Nambour, Hayley Anderson
25 Evans Grove Road, Glenview
Passed in at $1,500,000, contact agent
4 bed, 2 bath, 4 car
Ray White Nambour, Matt O’Grady
1 Timbertop Street, Buderim
Sold under the hammer for $1,527,000
4 bed, 3 bath, 4 car
Ray White Buderim, Brodie Rodgers
63 Wilderness Circuit, Little Mountain
Sold under the hammer for $1,100,000
4 bed, 2 bath, 2 car
Ray White Mooloolaba, Michael Picoto
403 Paradise Circuit, Maroochydore
Sold prior to auction for $1,080,000
4 bed, 2 bath, 2 car
Ray White Mooloolaba, Bree Bellhouse
8/26 Picnic Point Esplanade, Maroochydore
Sold $970K
2 bed, 2 bath, 1 car
Ray White Maroochydore, Niall Molloy
14/21 Smith Street, Mooloolaba
Sold prior to auction for $1,900,000
3 bed, 2 bath, 2 car
Ray White Mooloolaba, Brent Higgins
7 Beerburrum Street, Dicky Beach
Sold under the hammer for $1,355,000
3 bed, 1 bath, 1 car
Ray White Caloundra, Andrew Garland
16 William Street, Moffat Beach
Sold under the hammer for $1,315,000
2 bed, 2 bath, 2 car
Ray White Caloundra, Andrew Garland
3/43 Verney Street, Kings Beach
Sold under the hammer for $1,150,000
3 bed, 3 bath, 2 car
Ray White Caloundra, Natascha Drexel-Munro
15 Dingle Avenue, Kings Beach
Sold under the hammer for $2,350,000
6 bed, 3 bath, 3 car
Ray White Caloundra, Natascha Drexel-Munro
26 Verney Street, Kings Beach
Passed in, offers over $1,495,000
2 bed, 1 bath, 1 car
Ray White Caloundra, Natascha Drexel-Munro
2/2 Burgess Street, Kings Beach
Sold under the hammer for $1,070,000
3 bed, 1 bath, 2 car
Ray White Caloundra, Natascha Drexel-Munro
59 Roderick Street, Moffat Beach
Sold under the hammer for $2,075,000
4 bed, 2 bath, 2 car
Ray White Caloundra, Marcus Lane
41 Adelaide Circuit, Baringa
Sold under the hammer for $850,000
3 bed, 2 bath, 1 car
Ray White Caloundra, Lachlan Hunt
8 Thynne Court, Maleny
Passed in, offers over $1,895,000
6 bed, 3 bath, 5 car
Remax Hinterland Team
The aerial imagery in this story is from Australian location intelligence company Nearmap. The company provides government organisations, architectural, construction and engineering firms, and other companies, with easy, instant access to high-resolution aerial imagery, city-scale 3D content, artificial intelligence data sets, and geospatial tools to assist with urban planning, monitoring and development projects in Australia, New Zealand and North America.
