Four of five tenanted investments in the Noosa region’s new retail development, Shops on Hilton, have sold to local investors after recent strata titling.
Located at 11-19 Hilton Terrace, the development is situated on a busy road linking Noosaville to Tewantin.
Ray White’s Louisa Blennerhassett and David Brinkley have been leasing the properties since it opened for trade in 2019.
“Yields achieved have ranged from 5.7 per cent to 6.2 per cent with buyers recognising the value of a brand-new building in a prominent location,” Blennerhassett said.
According to the agents, enquiry has been “very strong” on the individual tenancies, coming from Queensland, NSW and Victoria.
“We feel that local buyers are witnessing firsthand the strength of the Sunshine Coast and Noosa markets and want to be part of this growth”, Brinkley said.
All tenants at the properties were in the early stages of three to five-year terms, with options, indicating that investors are seeking quality tenants and long-term investments.
“Given low interest rates, yields are tightening to levels we have not seen before”, Brinkley said.
“These results are confirming what we already know – that the Sunshine Coast is on a strong upwards growth curve which certainly has not slowed in recent months”, he said.
Article Source: propertyobserver.com.au
Developer Tests Depth of Albion Apartment Market
Arden Property Group has lodged plans for an eight-storey apartment tower next door to its Jade apartments development on Burdett Street at Albion.
Euroa is a 76-apartment development on a 2676sq m site, which the developer bought in 2017 for $3 million.
The Altis Architecture-designed tower is on the corner of Burdett Street and Crosby Road, with views over Crosby Park, a proposed Olympic sporting precinct for the 2032 Games.
According to planning documents the development pays homage to the industrial history of the site and the Albion precinct.
“The proposed design has taken a sensitive approach in respecting the industrial heritage significance of the existing site,” the report said.
“The distinct angular roof form and brick palette of the existing industrial building have been reflected in the proposal by incorporating brick feature walls and overclad elements along the street frontage within the planting areas.”
The tower would comprise 19 one-bedroom apartments, 22 two-bedroom apartments, and 35 three-bedroom apartments with a communal rooftop area for residents with a rooftop pool, daybed area, and lounge and views over Brisbane’s evolving skyline.
The architectural design statement said the design outcome would improve street activation, as well as complement and enhance the medium density typology of Albion and leave a “compelling and long-lasting legacy of architectural expression”.
Hoarding has been up on the site for some time, and it comes off the back of Arden Property Group’s four-building 369-apartment Jade development next door.
Arden Property Group’s Jade development won approval in 2014, and was the first major residential development in Albion’s industrial precinct.
Meanwhile former FKP executive director Philip Parker owns a significant stake in the Albion precinct, with storage sheds on Burdett Street and industrial sheds fronting Crosby Road in his portfolio.
Article source: www.theurbandeveloper.com
Brisbane’s Office Market Greenlit for Business
Brisbane’s office market continues to shake off the pandemic doldrums with two new commercial towers approved in the CBD and fringe suburbs.
Property owner PGIM and development partner Indema’s plan for a bold adaptive reuse of a 1970s commercial building at 444 Queen Street has won approval.
The bronze 22-storey tower opposite Customs House will be stripped back to its core structure and completely remodelled with a new podium, curtain wall facade and an additional two-storey sculptural canopy.
Indema director Michael Bruderlin said they would be targeting a net zero certification for the building upon completion in the first quarter of 2024.
Article source: www.theurbandeveloper.com
‘Best of everything’: approval granted to fantastic farm that will give Coast a brand new flavour
A new agri-tourism venture is set to showcase the ‘best of everything’ from the region, with a huge Produce Hall trading seven days a week.
Coolum Beach will become home to one of the largest tourism destinations on the Coast, with Sunshine Coast Council giving development approval to Barns Lane Farm.
The farm will be set across 6.8 hectares and centre around a paddock-to-plate experience.
It will showcase Sunshine Coast goods and connect locals and tourists with the hinterland.
The 2000sqm Produce Hall will trade daily and house more than 50 short-term and long-term stallholders.
Barns Lane Farm co-founder and developer Jason Grant said it was a great chance for locals to showcase their wares.
“The Produce Hall will provide a never-before-seen opportunity for local producers, without being subjected to trading restrictions and weather conditions,” he said.
“It will offer multiple connections to the market including selling direct to the public and supplying on-site restaurants and vendors.”
Co-founder Helen Grant said there would be several features at the complex.
“It caters to the many tastes and needs of families and foodies,” she said.
“Other attractions include a distillery, brewery, dining, adventure play areas, animal farms, tours, a performance stage and much more.”
The news has been welcomed by tourism, industry bodies and local stakeholders.
Visit Sunshine Coast CEO Matt Stoeckel said the farm would provide a significant boost to the region.
“There is a huge demand for agri-tourism experiences,” he said.
“The new product will go a long way in cementing our profile as a leading agri-tourism destination.”
Coolum State School Principal Anthony Ryan said the farm would bolster the local community.
“Having this on our doorstep is really exciting,” he said.
“We’ve already implemented Barns Lane Farm themes into our curriculum, and we look forward to furthering partnership opportunities.”
It’s expected that Barns Lane Farm will create more than 170 full-time equivalent jobs across a range of industries and provide vast community and educational opportunities.
Barns Lane co-founder Jonathan Leishman said the region’s agri-business would continue to develop.
“We’re growing and supporting local in every sense of the word, including through our Joint Venture with (venture studio) Josephmark for the Agtech incubator Dirt Lab, which will nurture local innovation,” he said.
Construction will start soon, with the opening set for mid-2023.
Future stages include a 26-room boutique hotel suite and a 150-seat function venue, ideal for rural destination weddings and events.
Barns Lane Farm key features
- Site size: 6.8 hectares
- More than 170 full-time equivalent jobs expected
- Will connect locals and tourists with the hinterland
- Restaurants and cafes offering paddock-to-plate experience
- More than three hectares of productive garden beds and orchards
- 2000sqm seasonal Produce Hall with 50 short and long-term stallholders
- Agri-tech Incubator, ‘Dirt Lab’
- Events centre and boutique accommodation
- Music and arts space
- Distillery and brewery
Article source: www.sunshinecoastnews.com.au
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