Nambour Development Opportunity Heads to Auction

19 April 2018

An exciting redevelopment opportunity located in Nambour has hit the market, with the 3,253sq m site predicted to be well received by buyers at the upcoming public auction.

56 Arundell Avenue, corner of Mill Lane is being offered for sale by exclusive marketing agents Jason O’Meara and Scott Gardiner of Savills Sunshine Coast.

Director at Savills Sunshine Coast, Jason O’Meara, said the property is likely to attract interest from various sectors and ideally would suit a broad range of owner occupiers with a specific need, or developers.

“The property is improved with older style industrial warehouses, however has a zoning for higher and better uses.

“It also has holding income from periodic tenants until a development approval over the site is achieved,” Mr O’Meara said.

The property is situated on a high profile corner location, strategically positioned within a short 400 metres from the well performing Coles-anchored Nambour Mill Shopping Centre.

The property is under a Major Centre zoning, which provides the potential to build to a height limit of 25 metres, and has a variety of “code assessable” uses including (but not limited to) a service station, food and drink / fast food, multiple dwelling, retail, car wash, office, health care services etc.

“The site is a balance lot created from a resumption for roadworks to be completed by the Sunshine Coast Regional Council and is surplus to their needs.

“The intersection of Arundell Avenue and Mill Lane will be upgraded significantly in the near future as a result, and when complete will create a more prominent position for the subject property,” Mr O’Meara said.

The Sunshine Coast has experienced substantial growth across various sectors, with the local economy having doubled in the last decade.

56 Arundell Avenue presents an opening for buyers to stake their claim over a development opportunity within a rapidly growing economy.

Mr Gardiner said due to high demand within the residential land sector and limited developable parcels throughout the coastal region (with exception of Aura and Harmony), Nambour is seen to be the place where a number of new residential estates are being developed.

“This shows positive signs for population growth within the region, with a lot of this growth being within the Burnside area, and for which Arundell Avenue is a main road link from Nambour CBD.

“Coupled with the thriving Sunshine Coast economy and influx of people moving to the coast off the back of strong growth potential and major infrastructure projects, we see any development on this site to be well received due to its high profile corner positon,” Mr Gardiner said.

The auction is set to take place on-site with a prompt 11am start on Thursday 10 May 2018.

 
 

Key Contacts

Jason O'Meara

Jason O'Meara

Director
Sales & Leasing

+61 (0) 7 5313 7517

 

Scott Gardiner

Scott Gardiner

State Director
Sales & Leasing

Savills Sunshine Coast

+61 (0) 7 5313 7514