Ocean St landowner seeks approval for 12-storey luxury tower

The owners of a prime Maroochydore site, previously embroiled in a Supreme Court legal battle over the collapse of a $9.25m sale, look to power on with plans to build 12-storey luxury tower.

12-storey high-rise proposed for Maroochydore party precinct.

A 12-storey luxury tower has been proposed for the Maroochydore party precinct Ocean St, with plans to deliver more than 50 units as well as “podium” office space.

The development plans were submitted to the Sunshine Coast Council on March 18, on behalf of TWM (QLD) Pty Ltd.

The company, which is directed by Peter Poli and Glenn Ferguson, bought the space at 15-17 Ocean st in 2015 for $4.05m, according to property data.

In 2022, Evangelista Pty Ltd, which owned 11-13 Ocean St, and TWM decided to sell the adjoining blocks to another company, Eleven 17 Ocean St Pty Ltd for $9.25m.

However, a clause in the contract brought all three companies into a Supreme Court legal battle after the sale ultimately fell through.

The court found the contract had been validly terminated and the deposit paid by Eleven 17 Ocean St should be forfeited to the two owners.

Eleven 17 Oceans St’s subsequent appeal of this decision was dismissed.

If approved, the “El Parasol” tower would include 53 units, including a mix of two, three and four-bedroom dwellings for both short and long-term accommodation.

The application for the proposal states the development would help boost accommodation supply in the area, while supporting the local economy with commercial space for cafes and restaurants on the lower floor.

“The proposal consists of a range of land uses that are complementary to the mixed use character of the Maroochydore/Kuluin local plan area,” the proposal states.

“The ground level food and drink outlet will enhance the Ocean Street food and music sub-precinct by providing an activated frontage to Ocean Street.”

Plans revealed for 12-storey luxury tower on Ocean St.

Glenn Ferguson and Peter Poli The Post Office bar on Ocean St, Maroochydore. Photo: Iain Curry / Sunshine Coast Daily

The plans state the tower will integrate “seamlessly” into the existing establishments that line Ocean St.

“The building integrates seamlessly into a vibrant entertainment precinct surrounded by various retail and commercial establishments,” the proposal states.

“This mixed-use structure features retail spaces activating the ground level, complemented by offices at podium levels and residential apartments ascending through the tower.”

It is not the first time a 12-storey development has been proposed for the site, Evangelista and TWM were granted approval from the Sunshine Coast Council in 2020 for a large development that would have encompassed 11-17 Ocean St.

That development planned to include 66 residential units and 44 serviced apartments as well as rooftop gym and pool area.

The development never eventuated and it is not suggested Evangelista are involved with this proposal.

Plans previously approved for a 12-storey development at 11-17 Ocean St.