‘Only one left’: $70m apartment complex sells out

The developers behind a $70 million apartment complex say they’re leading the way in future high density living in response to unprecedented demand for property.

Cube Developments Director Scott Juniper and McNab Sunshine Coast General Manager Carl Nancarrow outside the Beach Life complex at Alexandra Headland.

The developers behind a $70 million apartment complex say they’re leading the way in high density living on the Sunshine Coast.

Cube Developments has unveiled its new Beach Life Alex highrise to a swarm of buyer activity with just one of its 57 apartments left available.

Company director Scott Juniper said sales from December 2020 to January had increased by 70 per cent, compared to the same period in the previous year.

New South Wales and Victoria’s populations dropped in the six months to September 2020, while Queensland gained 14,000 new residents, according to the Australian Bureau of Statistics.

Mr Juniper said 30 per cent of inquiries had come from interstate buyers.

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“The Sunshine Coast real estate market has been very short of supply, especially in Alexandra Headland which attracts more than the fair share of buyers,” he said.

“The majority of the apartments were sold to locals at the start of 2020, but recently we have noticed 30 per cent of inquiries coming in from other states like Victoria and New South Wales, with buyers ready to find their slice of Sunshine Coast paradise.

“We don’t anticipate this market will slow down over the next few years with more people seeing the benefit of a sea-change, particularly given the impacts of COVID-19 on metro living.”

McNab general manager Carl Nancarrow whose building company was behind the project said projects such as Beach Life Alex showed how the Coast could enjoy sustainable growth without compromising on quality of life.

“We are excited to add value to the Sunshine Coast skyline and see this type of product as an important part of the planning solution in dealing with the region’s anticipated growth,” he said.

“Projects such as these are good news not only for those looking to purchase in a very tight property market, but also for local trades as our construction industry continues to thrive on the Coast.”

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The Sunshine Coast Council is considering its new planning scheme.

Sunshine Coast Business Council chair Sandy Zubrinich said the new planning scheme was crucial and higher density housing was an important part of the residential landscape.

“There are many (people) on the Coast who would like things to stay as they are, but the reality is that an extra 150,000-plus people are moving here by 2041 — that’s close to 50 per cent growth,” she said.

“This planning scheme needs to ensure we have the right mix of developments to accommodate this growth in a sustainable way — we need more projects like Beach Life Alex, offering high-quality apartments, built by locals, creating local jobs and boosting the local economy.”