A large property resumed by Sunshine Coast Council for a road project has been sold for $4.2 million after being deemed surplus to requirements.
No. 21 Bindaree Crescent sits within the Mooloolaba Transport Corridor, which includes widening works along Brisbane Road and Walan Street.
A council spokesperson outlined the scope of the project.
“As part of the MTCU project, sections of Brisbane Road have been progressively upgraded to four traffic lanes.
“To accommodate this upgrade, some land resumptions – a mix of residential and commercial – were required to allow space for the additional traffic lanes, infrastructure upgrades, pedestrian pathways and landscaping.”
“Some of the land originally acquired for MTCU Stage 4 will continue to be required to support the future widening of Brisbane Road to four lanes.
“The land required for the project has been dedicated as road, with the remaining balance deemed surplus to requirements and subsequently sold.
“The identified land has development potential, located within a Local Centre zoning and identified with a height limit of 18m.”
Colliers Sunshine Coast special projects manager Baydn Dodds said that the 1565sqm site was sold on behalf of the council, at public auction in April.
He said it received interest from interstate, before going to a local developer/investor.
“Mooloolaba has one of the best suburb brands on the Sunshine Coast, with property highly sought after and extremely tightly held,” he said.
“Number 21 Bindaree Crescent represented a rare vacant development opportunity adjacent to the Mooloolah River, with river views and potential ocean views from upper levels, as well as walkability to Mooloolaba Esplanade and beach.”
He said the buyer had no immediate plans for development but saw long-term potential in the site.
“They will review all development options available based on the allowable uses relevant to the current Local Centre zoning.”
The council has liaised with property owners affected by the upgrade since 2003. The project started in 2018 and progressed in a staged demolition and construction approach.
Sunshine Coast News has asked the council how much the site was acquired for and is awaiting a response.
