Sunshine Coast development: Image Project Group’s Nambour project nears green light

A long-time Nambour developer is readying for a green light on a new project set to change the face of the historic town’s business district.

A multi million-dollar apartment project close to the state’s second designated live music hub could start coming out of the ground within six months.

Image Projects Group managing director Ryan Veitch said he expected Sunshine Coast Council approval within the next few weeks for his Elevate on Sydney unit project.

The 18-unit development at 11 Sydney Street in Nambour is proposed to reach 15m and deliver views across the historic town.

“It’s a bit of a new project for Nambour, it hasn’t been done in a little while,” Mr Veitch said.

The proposal includes three units with one bedroom and the rest with two bedrooms.

It also features secure basement parking, lift access and a 60sq m office space.

Mr Veitch said he felt Nambour was ready for that style of development and he hoped it would invigorate the special entertainment precinct designated in the Nambour CBD – one of only two in Queensland.

Image Projects Group has strong ties to the area having previously developed a 29-unit townhouse project on Image Flat Road and a 48-unit townhouse project behind Aldi.

The company, which started in 2009, is also building an 11-unit townhouse project on Reilly Road.

“Nambour’s always been good from an investor point of view,” Mr Veitch said.

He said investors were attracted by the region’s low rental vacancies and owner-occupiers tended to follow once they saw developments taking shape.

Mr Veitch said the new project at Nambour CBD’s highest point would be worth about $7m when the value of the property and construction were taken into account.

He expected it to take about 10-12 months to build.

Artist’s impressions show inside a proposed unit block, Elevate on Sydney, in Nambour.

A mid-level finish is proposed to ensure units are “affordable, but quality as well”.

The one-bedroom units are set to start from about $370,000 and the two-bedroom apartments from $400,000 up to about $440,000 on the top levels.

“It’s certainly something Nambour is ready for,” Mr Veitch said.

Mr Veitch said there had been incentives to develop within the new CBD and he was aware of several live music venues working with the council to establish themselves in the precinct.

“If they do that they’re going to need people there,” Mr Veitch said.

“Council want to see people coming there.”