UK buyer for top Sunshine Coast site

THE sale of the last full-length waterfront development site fronting the Maroochy River has shone the international spotlight on the Duporth Ave precinct.

PRIME LOCATION: 10 Duporth Ave – which is set on a 2064sq m site, including 23.2m of direct river frontage – is believed to have been sold for more than $7 million. Picture: Contributed Erle Levey

THE sale of the last full-length waterfront development site fronting the Maroochy River has shone the international spotlight on the maturing Duporth Ave precinct of central Maroochydore.

Negotiations with the UK-based buyer were carried out with Savills and G1 Property Mooloolaba.

The 10 Duporth Ave property was marketed for sale by Jerry O'Reilly of Savills on behalf of the local private vendor as part of a deceased estate.

The sale price was not disclosed yet industry sources believe it to be in excess of $7million.

The property was initially brought to the market about four years ago.

Set on a 2064sq m site, including a huge 23.2m of direct river frontage, the property currently comprises a three-level riverfront unit block, developed in the 1960s, as well as single-level retail shops fronting Duporth Ave.

The sale comes at the same time attention is being focussed on the opening of the $20million refurbishment of the nearby Big Top Shopping Centre.

The medical centre property at 150 Horton Pde, Maroochydore, has also sold for a price believed to be in excess of $5million.

The 2200sq m site immediately adjacent to Sunshine Plaza is improved with a two-level medical centre office complex.

The selling agent was CBRE's Rem Rafter.

Mr O'Reilly said 10 Duporth Ave presented a never-to-be-repeated development opportunity that stretched from the water's edge of the Maroochy River right through to Maroochydore's main business strip of Duporth Ave.

"This is a true trophy site and the final remaining piece of prime Maroochydore riverfront real estate," he said.

"It is the last site of its kind that provides a combination of both waterfront and established CBD positioning in what is one of the most sought-after locations on the Sunshine Coast.

"International investment into Maroochydore also represents a major vote of confidence in the wider Sunshine Coast market."

Originally published as UK buyer for top Sunshine Coast site