Paloma Paloma development site for sale
The next steps for the site of a controversial $250m high-end development proposal on the Sunshine Coast’s southern beachside suburb of Caloundra have been confirmed.
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The beachside block earmarked for a controversial $250m Caloundra development proposal has been listed for sale following months of speculation about the delayed project.
The major development site, situated on a corner block at 1-9 Bulcock St and 45-47 Bombala Tce in Caloundra, is currently listed for sale by Colliers Real Estate.
Development group CURA Habitas first drew attention to the site when the existing buildings on the block were coated in fluorescent orange paint in December 2021 to launch their Paloma Paloma project.
The marketing for the development reached interstate audiences with a billboard appearing in Melbourne reading “not Noosa” followed by “Paloma Paloma”.
The Paloma Paloma proposal was to feature two towers, one for high-end residential apartments and the other for luxury short-term accommodation, as well as retail and a restaurant.
Construction on Paloma Paloma was initially planned to start in mid-2022.
The developers behind the $250m project were given a number of application extensions by the Sunshine Coast Council in order for Paloma Paloma to be granted approval.
Council records show the most recent extension granted to the developers expired on May 5, 2023.
A Sunshine Coast council spokesman said the developers had not made contact or provided the necessary detail to have the project approved within the agreed deadline.
“The applicant has not sought a further extension,” the spokesman said.
The block is currently approved for a mixed-use development including 104 residential apartments, 125 hotel rooms, retail, restaurants, food and beverage, as well as medical centre.
The height limit for site is approximately 40m.
The Colliers land listing describes the block as a “key site destination area” in an in-demand Sunshine Coast location.
“(It’s a) significant development opportunity within one of the most in demand and supply constrained markets in Queensland and Australia,” the listing said.
Expressions of interest on the property close Thursday, July 20 at 4pm.
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