Demand for land a driving force
STRENGTH of the Coast property market sees eyes turn to approved residential land subdivision site.
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A 5.69ha property at Woombye has come to the market with development approval for a residential land subdivision in close proximity to the town centre and train station.
The property benefits from a recent development permit to reconfigure a lot into 24 near-level residential lots ranging in size from 617sq m to 1166sq m, at an average size of about 732sq m.
Baydn Dodds of Colliers International said the current strength of the Sunshine Coast residential market indicates there would be a low market risk for the end product, particularly given the location, lot sizes and potential for level lots.
Mr Dodds said this was one of the few approved residential land subdivision sites available on the Sunshine Coast at the moment and he expects strong demand for the site.
Having a development approval already in place allows for a purchaser to quickly take the lots to the market.
The property is positioned at the end of Paynter Park Drive, on the northern side of the Woombye Village. It is bordered by Paynter Creek to the south/east and the North Coast railway line to the west.
The Woombye train station and village are within walking distance; however, access points across Paynter Creek to adjoin road reserves would need to be provided.
The Sunshine Coast CBD is 15km away via direct connections along Nambour Connection and Maroochydore Road.
Nambour is 3.2km away and the Sunshine Coast Airport 20km from the site.
The property is vacant and largely cleared of vegetation.
A development permit to reconfigure the property was granted on October 12, 2017. The approval has a four-year currency period.
Services are in place to the boundary, limiting external trunk infrastructure works but capacity still needs to be confirmed.
Being a largely cleared site, it benefits from near-level lots and large, open space area.
Access to the property is from Paynter Park Drive that leads to Nambour Connection Road via Cobbs Road, providing double-lane road access to Nambour and Maroochydore, as well as the Bruce Highway.
7 PAYNTER PARK DRIVE, WOOMBYE
Agent: Baydn Dodds and Nick Dowling at Colliers International
Contact: 0418173187, 0419726705
What: Approved residential land subdivision of approximately 5.69ha
Features: Development approval for 24 lots average size approx 732sq m
Price: For sale by expressions of interest closing Wednesday, October 31, at 4pm
Originally published as Demand for land a driving force
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