Rare investment/development property on Sunshine Coast

Two-storey building with 23m frontage to Ocean St has zoning of Principal Centre Zone

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TONY Rich of Colliers International Sunshine Coast has been appointed to market by an auction campaign the investment/development property at 7 Ocean Street in Maroochydore.

"There are very few stand-alone freehold properties situated in Ocean Street, so this is a rare opportunity for a savvy investor to acquire a property, that has both investment and development potential," said Mr Rich

Ocean Street has become the hospitality hot spot in the Maroochydore CBD, and a hive of activity, boasting restaurants, bars, retail etc.

Number 7 Ocean street is an older style two-storey building with 23m frontage to Ocean Street. The total building area is 787sq m on a 663sq m parcel of land.

The maximum building height for future development is 40m or 13 storeys, and the zoning is Principal Centre Zone.

"The opportunity exists for a smart investor to acquire this property on an as-is basis,'' Mr Rich said, "and to then upgrade and remodel the building to cater for food, retail, café and restaurants on the ground floor, and hospitality or offices on the first floor.

"This will extend the café scene down that side of Ocean Street to directly opposite the Post Office Bar and Restaurant - the opportunities are endless.

"We have deliberately not the leased vacant properties in this building to allow for the upgrade that a buyer may wish to do.''

Number 7 Ocean Street, Maroochydore will be auctioned on-site at noon on Friday, August 11.

MAROOCHYDORE

7 Ocean Street

Features: Stand-alone freehold property in CBD precinct, 787sq m building on a 663sq m with zoning of Principal Centre Zone

Price: Auction on site Friday, August 11, at noon

Agent: Tony Rich of Colliers International Sunshine Coast

Contact: 0417 744 265 or [phone]