Land lease developer snaps up $15m West Maroochydore site

11 May 2018

A West Maroochydore development site has been snapped up for $15 million by a national land lease developer.

The 19 hectare parcel located at 31 Martins Drive & Main Road was sold to GemLife Communities, negotiated by exclusive marketing agents Jason O’Meara and Scott Gardiner of Savills, and Rem Rafter of CBRE Sunshine Coast.

Director at Savills Sunshine Coast, Jason O’Meara said that the property is earmarked to become a gated retirement facility.

“There is a lodged application pending imminent Council approval for a 247 lot sub-division,” he said.

This being their fifth acquisition since establishing in 2016, GemLife Communities own and operate land lease communities across Queensland, Victoria and New South Wales. 

Savills Director, Scott Gardiner said that the site is ideally positioned to capitalise on the ongoing growth of the Sunshine Coast, which is forecast to see its population continue to grow by an additional 7,000 residents per year.

“GemLife Communities have secured a well located slice of West Maroochydore in a central location with easy access to everything the Sunshine Coast lifestyle has to offer,” Mr Gardiner said.

Managing Director CBRE Sunshine Coast, Rem Rafter said that larger development sites of this size and quality very rarely come to market.

“We fielded an extensive amount of interest during the campaign – 10 offers were received initially and then 4 rounds of extended offers,” Mr Rafter said.

The thriving Sunshine Coast economy coupled with the influx of people moving to the coast off the back of strong growth potential and major infrastructure projects, will see the development on this site to be well received by the market.

 
 

Key Contacts

Jason O'Meara

Jason O'Meara

Director
Sales & Leasing

Savills Sunshine Coast

+61 (0) 7 5313 7517

 

Scott Gardiner

Scott Gardiner

State Director
Sales & Leasing

Savills Sunshine Coast

+61 (0) 7 5313 7514