Prime Maroochydore CBD sites snapped up by Sunshine Coast investment consortium in mega deal
A Sunshine Coast investment consortium has secured a multimillion dollar site at the gateway to the new Maroochydore CBD after three unsuccessful purchase attempts.
Property
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It was the fourth time lucky for a Sunshine Coast investment group which secured a multimillion dollar site at the entrance to the new Maroochydore City Centre.
Three years after it secured the neighbouring block the “investment consortium” snapped up 132 Aerodrome Road, Maroochydore.
After three knock backs, the group secured a multimillion dollar site at the entrance to the new Maroochydore CBD, three years after it secured the block next door.
Commercial real estate agent Tony Justo marketed the property, tenanted by Neighbour’s Aid, in a deal worth $3m.
Mr Justo said that the sale settled on June 28.
He would not disclose who the new owners were, but said they were part of an “investment consortium” based on the Sunshine Coast.
Mr Justo said the group had previously made three unsuccessful attempts to purchase the site.
“They’re looking at a number of things, mixed use, apartments, offices, retail but nothing firm that I’m aware of,” Mr Justo said.
Mr Justo said the same group purchased the neighbouring 134-136 Aerodrome Road block – tenanted by the Salvation Army – in 2018.
That 2312sq m block, which sits within the 40m height limit zone of the new CBD, sold for $3.55m.
Mr Justo said the 132 Aerodrome Road sale sold at a premium.
“This site was 1156sq m, which gives an underlying land value of $2500 a metre, which is really high,” he said.
“It’s right on the entrance to the SunCentral development.
“They’d been trying to buy it for more than two years and presented four different offers to purchase it.”
CoreLogic data revealed the 132 Aerodrome Road sold to Capital 22 Pty Ltd, the same group which purchased the 134-136 Aerodrome Road in 2018.
A search of the Australian Securities and Investments Commission’s database revealed Capital 22 Pty Ltd is owned by John Gallagher, Cameron Hall and Paul Mathewson.
Mr Justo said the Neighbour’s Aid tenant had signed a three-year lease after the sale finalised.
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