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An 18.55ha beachfront residential development site has hit the market on the Sunshine Coast.
Located at David Low Way, Yaroomba, the property provides an opportunity to secure one of the last beachfront master-planned residential development sites in south-east Queensland, according to agents Ray White.
The property provides a development approved for 291 homes comprising 112 detached dwellings, 41 terrace dwellings and 138 apartments.
The approval also includes 500sqm of retail use, plus significant landscaping and open spaces.
The property is being marketed by Ray White in conjunction with Colliers on behalf of international property developer and home builder Sekisui House Australia.
Ray White special projects director Tony Williams said that in a market where Sunshine Coast housing supply is under severe pressure, this site presented a “magnificent opportunity to acquire a premium development parcel to offer a mix of detached housing, medium density and apartment solutions to a constrained market”.
Offered for sale by expressions of interest, Colliers director Brendan Hogan said he anticipated that the opportunity would be well sought after due to “the beachfront nature of the site coupled with the development approval and the underlying strength of the Sunshine Coast market provide the ingredients that development groups are actively pursuing”.
Sekisui House Australia group chief executive Atsuhide Seguchi said the beachfront site at Yaroomba presented an “exciting opportunity” to bring to market quickly house lots and apartments under a current approval for a master-planned residential development.
“The sea change trend continues to see Australians seek out homes and residential communities in coastal regions along the eastern seaboard, with the Sunshine Coast residential property market performing extremely well into 2022,” Seguchi said.
“We anticipate that the site’s prime location coupled with secured development approval will drive strong interest in the sale.”
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