Altum Property Group reveals plans for new project after completion of Parkridge Noosa

After completing $200m in development at Noosa two prominent businessmen have revealed their next project to bring more units to the tourism destination. SEE THE PLANS

Two prominent developers have revealed what they plan to do with a prime Noosaville block they snapped up for just over $2m last year.

After completing the $200m Parkridge Noosa, Altum Property Group’s Alex Rigby and Rob McCready are developing a 54-unit complex in the heart of Noosaville at 101-105 Eumundi Noosa Road.

The Whitely Noosa will be made up of two and three-bedroom terraces and residences and has been touted as an opportunity to own “your very own piece of Noosa paradise” where prices start at $740,000.

Mr McCready and Mr Rigby purchased the adjoining blocks in 2020 for about $2m after it was advertised for sale as a “prime development location”.

The pair was recently named among some of the visionary developers who have helped grow Noosa into one of Australia’s top holiday hot spots.

The Whitely sales manager Jeremy Gilmore said they looked forward to developing at such a prime location.

The 5500sq m site near the Noosa River, hospital and schools was suitable for development of residential units, townhouses, aged care or short-term accommodation.

“Our previous project Parkridge Noosa is now done and dusted and it has been a great success, selling all 180 residences was a phenomenal achievement and well ahead of our forecast schedule,” Mr Gilmore said.

“The Sunshine Coast market, and Noosa in particular, is on fire at the moment with no sign of slowing down so we expect demand to be very strong for this new project.”

The Sunshine Coast and Noosa’s house prices have exploded in the past 12 months off the back of families moving to the areas from South Australia and Victoria.

Recent reports found house medians in Sunshine Beach soared by 47.6 per cent to $2.6m in the past 12 months.

Dowling Neylan recently broke the Queensland record for a home at auction after selling 41 Picture Point Crescent, Noosa Heads for $16.45m.

The Whitely includes 54 two and three-bedroom units across 12 terrace homes and 42 residences designed by award-winning architect Blackburne Jackson.

Mr Gilmore said with no lifts throughout the development body corporate fees would be competitive against other similar-sized projects.

Construction was expected to start in the second quarter of 2022.