Centrepoint Market Place sale: Ray Shadforth snaps up shopping centre

The head of one of the Sunshine Coast’s biggest companies has swooped on a $7m Caloundra shopping centre while a celebrity cook has also jumped in on the Bulcock St boom.

The head of one Sunshine Coast’s biggest companies has been confirmed as the new owner of a $7m shopping centre at Caloundra.

The Centrepoint Market Place at 50 Bulcock St, sold under the hammer at auction for $7.325m in November last year.

Shadforths Civil Contractors’ managing director Ray Shadforth confirmed his company purchased the site last year as a “long term” play.

Mr Shadforth said he had no immediate or medium term plans to redevelop the site.

Shadforth Civil Contractors’ managing director Ray Shadforth said it was a long-term investment opportunity.

“We have got great confidence in Caloundra and the energy that’s being put into it and we will work hard to ensure that increases,” Mr Shadforth said.

“It’s a really long play, not an overnight thing at all.

“We will just renew the asset and work with the businesses to provide good amenities so our tenants can grow and thrive.”

Mr Shadforth said he was born and bred in the Caloundra region and that he was buoyed by the amount of work and investment being pumped into the city centre.

It comes after the Daily revealed more than $40m in key sites had sold to investors or developers along Bulcock St along in the past two years, with more than $500m in projects in the pipeline.

“There’s been a few exciting announcements recently, the Henzells one and others,” he said.

“Caloundra has always been a special place in my heart but it hasn’t had as much emphasis as it could have had.

“But there’s a bit of a wave happening now.”

The Centrepoint Market Place Caloundra has site area of 2595sq m and came with 14 tenanted shops, two kiosks and two street frontages.

The shopping centre was sold through Ray White Brisbane commercial agent Lachlan O’Keeffe who said there were six parties vying for the property with 23 total bids.

Australian Securities and Investments Commission documents showed the property was previously owned by company Caspadale Pty Ltd which is directed by Rodney and Michael Tate of Maroochydore.

Founder of 4 Ingredients Kim McCosker recently purchased office space along Bulcock St.

Celebrity cook Kim McCosker has also purchased a small office space along Bulcock St determined to not miss out on the chance to own property in a booming area.

The 4 Ingredients founder said Caloundra was going through an exciting stage.

“Caloundra is really coming into its own as a real destination and we didn’t want to miss the bus,” Ms McCosker said.

“It’s only a little 62sq m space but we are turning it into a space for a tenant that’s very coastal.

“There’s so much development happening down here, some really good stuff too.”