A Mooloolaba property deal looms as a prominent developer eyes off a beachfront building part-owned by Mayor Mark Jamieson

A major Mooloolaba developer is poised to pounce on a beachfront commercial property part-owned by Mayor Mark Jamieson.

A major Mooloolaba developer is poised to pounce on a beachfront commercial property part-owned by Mayor Mark Jamieson.

Rod Forrester, founder of FKP Limited and investor in son Tim's Aria Property Group, is set to spend more than $5 million to acquire 123 Mooloolaba Esplanade, Mooloolaba.

The commercial property is owned by LSJD Projects, a company directed by Ken Guy, Mark Jamieson, Doug Meecham and Ron Milne.

It had been on the market for some time and was listed for sale in the "mid $5 million range" last year.

Core Logic's RP Data listed the site value at June 30, 2019 as $1.35 million and it was understood the deal being considered at present was for a mid-$5 million sale price.

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Mr Forrester said he was still doing due diligence and a final decision would be made next week on whether or not he took up an option to buy the property.

He said it would be a strategic acquisition.

"There's no more land between Mooloolaba and Cotton Tree," Mr Forrester said.

123 Mooloolaba Esplanade, Mooloolaba.

He said he and his wife would be looking to purchase the property with their super.

He said they considered it a future redevelopment site, with zoning up to 30m in place.

Mr Forrester said there was a chance the property could eventually transfer to Aria for development once their $250 million project, 1 The Esplanade, was finished.

He said alternatively it could stay in their hands as a boutique project, depending on the lease situation.

He said there was about four years on leases in the building at present, with options, so if they were renewed he would sit on the property longer.

"It's a strategic parcel of land, that's why I optioned it up," Mr Forrester said.

He said the site was too constrained to make a hotel feasible and he was considering an "end user" development, likely apartments with one to each floor.

The property sits on a corner fronting a proposed light rail corridor, but Mr Forrester said he didn't think that would be a significant feature of any future development.

He said he thought 123 Mooloolaba Esplanade would be developed before a light rail happened.

"I don't think it'll be a selling feature on the brochure," Mr Forrester said.

He said a decision on whether or not they went ahead with the purchase would be made next week.

The sale would represent a second significant property offload by Mr Jamieson in recent years.

In July, 2019, Mr Jamieson's company MGMJ Projects was reported to have sold Yalanga Station at Bates Rd, Como, for $13.95 million.

MGMJ acquired the property from Suncoast Pastoral Company Pty Ltd for $4,180,000 in June 2013, according to Core Logic.

Mr Jamieson had previously raised a perceived conflict of interest when discussing the Brisbane Road Carpark site, given his interest in a Mooloolaba property.

Attempts have been made to contact Mr Jamieson and Mr Meecham for comment on the pending sale.

Originally published as A Mooloolaba property deal looms as a prominent developer eyes off a beachfront building part-owned by Mayor Mark Jamieson