REVEALED: Maroochy club site's future after $6m sale

THE former site of the Maroochy Swan Bowls club has sold for a whopping $6 million.

An artist's impression shows the 132-unit development approved by Sunshine Coast Council before the site's sale. New owner Aura intends to build a retirement complex with more communal spaces than this original proposal. Picture: Nicky Moffat

THE former site of the Maroochy Swan Bowls club has sold for a whopping $6 million.

Located a stone's throw from Sunshine Plaza on Anzac Ave, the 9154sq m property also has frontage on Baden Powell St and is expected to settle this month, real estate agent Colliers International confirmed.

A high density apartment-style development is expected at the site, which has planning approval for 123 units valid until 2019.

The Daily understands new owner Aura Australia Management intends to build a retirement complex with more communal spaces than this original proposal.

Baydn Dodds and Nick Dowling, also of Colliers International on the Sunshine Coast, handled the site sale via an off-market expressions of interest campaign.

"We received solid levels of developer interest for the site, with retirement groups submitting the majority of offers," Mr Dodds said.

"The fact that the approval offered the ability to sub-stage the development across four separate buildings really appealed to the market.

"This is also the last available site of this size in such a central location with proximity to Sunshine Plaza, Cotton Tree and the upcoming Maroochydore city centre development SunCentral."

The site was the original home of the Maroochy Swan Bowls club which closed in 2011 and was sold by Maroochy RSL in 2014.

"We are excited with the purchase of this site as it fits well with our strategy of positioning our retirement assets close to shopping, leisure and entertainment facilities," Aura's Tim Russell said. 　

"The plan is to amend the current approval to suit a retirement style development with relevant facilities, however we are likely to maintain a similar number of apartments.

"The site is also within 100 metres of the new Stella Maris Aged Care facility which is due to open in early 2017 and will provide residents who may need a higher level of care with the opportunity to be in close proximity to these services.

"Our focus is on developing new village infill locations along the eastern seaboard which will eventually form part of an 800-unit portfolio.

"It includes a recently acquired Kingsford Terrace project, this site, as well as four additional greenfield developments which are currently in the pipeline."