Suncoast Business Park industrial estate in Coolum is currently under construction, with demand on the Sunshine Coast for this asset class at an all-time high.
Suncoast Business Park industrial estate located in Coolum is currently under construction, with demand on the Sunshine Coast for this asset class at an all-time high.
Scott Gardiner of Savills Sunshine Coast has been appointed to act as the marketing agent for stages one and two at the entrance to the well-established and thriving Coolum Industrial precinct.
Stage one comprises of eight lots which are all available for immediate purchase off the plan.
Mr Gardiner said civil construction work commenced three weeks ago, with the development predicted to take 16 to 20 weeks until completion, placing the settlement date within the third quarter of 2018.
“Industrial land has been and is currently in strong demand, and with the volume of industrial land being sold over the last two or so years, the Sunshine Coast as a whole, and in particular Coolum, is looking at a shortage of supply over the next two to three years,” Mr Gardiner said.
Mr Gardiner said he sees a greater issue with industrial land supply moving further past that, as there are no more large pockets earmarked for Industrial precincts moving past five to ten years.
The available lots within Stage Two range from 2,587sq m for $439,790 plus GST to 5,346sq m for $989,010 plus GST, with Mr Gardiner already having sold Lot 1 and placing Lot 23 Under Contract with separate buyers.
“Lots under 5,000sq m within Coolum are limited, with no more plans in the pipeline after this industrial estate is built.
“With the current growth of the Sunshine Coast and strong economic and business growth predicted to come off the back of this, industrial land could become a premium in the not-so-distant future,” Mr Gardiner said.
“We have already seen price increases over the past six months with the sell-out of the existing Watpac Stages 5 & 6 within the Central Park Coolum Estate and the developer of this estate already looking at increasing prices once Stage 1 of the Suncoast Business Park is sold out.
Within the Central Sunshine Coast region, industrial land in Kunda Park, Kawana, and Noosaville is all sold out with very limited chances for resales within these locations due to the majority of the precincts being built out.
“At this stage, there is only the Caloundra Government and Stockland’s Aura that services the southern section of the Sunshine Coast,” Mr Gardiner said.
Stage 1 has just been released – see lot sizes and prices below.
Lot 1 - SOLD at asking price
Lot 2 - 2,846sq m $498,000 + GST
Lot 3 - 2,600sq m $442,000 + GST
Lot 4 - 2,600sq m $442,000 + GST
Lot 20 - 2,698sq m $458,660 + GST
Lot 21- 2,930sq m $498,100 + GST
Lot 22 - 4,389sq m $790,000 + GST
Lot 23 - 5,346sq m $989,010 + GST (going Under Contract)