Search for new CBD investors goes mile-high

The search for investment in the new $430 million Maroochydore CBD has scaled up in South-East Asia.

MARKETING: Ads for the new Maroochydore CBD have taken to the skies. Picture: Contributed

THE search for investment in the new $430 million Maroochydore CBD has scaled up in South-East Asia.

Ads for the 53ha greenfield development site have appeared in the Singapore Airlines November 2018 inflight magazine 'SilverKris'.

A Coast local spotted the adverts in the inflight magazine while travelling in "cattle class" recently.

The ad seeks expressions of interest in the new CBD, focusing on the new broadband submarine cable which would provide potential investors with Australia's "fastest data connection to Asia".

The ad said interest was being sought from investors and developers, tech companies and others seeking high-speed connections, future commercial and retail tenants, tertiary education and training providers and government and not-for-profit organisations.

COMING: An artist's impression of the new $83 million project in the CBD being delivered by Habitat Development Group. Picture: Contributed

Prospective investors were told in the ad that construction was now under way on Stage 1.

The council-owned development company overseeing the 20-year project, SunCentral, expected the development would attract local, national and international investment.

SunCentral CEO John Knaggs said the city centre project was in a "good position to market its credentials to companies looking to benefit from these (subsea cable) connections coming online in 2020".

He said that included business and development interests in Australia and overseas, with Asia being "one such market".

CHANGING: The site of the new Maroochydore CBD in September. Picture: Contributed

Mr Knaggs said businesses of interest to SunCentral were in areas of commerce, finance, media, professional services, technology, education, health, research, retail, premium hotel investment and mixed use/apartment precinct development.

Much of the works on the CBD to-date have focused on underground infrastructure, although streets, walkways, pathways and a 2800sq m public square have been created.

Stage 1A was due to open to the community "shortly".

IMPRESSION: This image was included in confidential SunCentral integrated resort development marketing material, as part of the push for a casino on the Coast. Picture: Contributed

Construction work would start on the first buildings, including an eight-storey commercial block by Evans Long and a residential apartment and townhome project by Habitat Development Group would kick off in 2019.

The Sunshine Coast Council paid $42 million for the 53ha site, formerly the Horton Park Golf Course, in 2012.

As site preparation and construction progressed on the land so too had the council's financial commitment ramped up, with $31.493 million in funding supplied to SunCentral in the 2017-18 financial year.