It is clear as day by now that the Sunshine Coast is changing, unless you live under a rock of course. However, the sandy beaches of the Coast are starting to gleam on a national level, with places like Sydney offering entry level houses at median prices of $1,080,000 it is really hard to imagine making any massive returns in a marketplace set up like that.
So moving forwards here on the coast, the investments in infrastructure really are starting to show signs of paying off. Our incredible stretch of Coastline has gone from being a destination for retirees escaping Brisbane for the weekend to now being the ninth largest Significant Urban Area in Australia by population.
With a 10.1% growth in population was experienced over a five-year period (2008-2013 the Sunshine Coast economy is one of the largest regional economies in Australia. Which is predicted to grow in a strong and sustainable pattern over the next 20 years to reach an astonishing $33billion in 2033. Closely following this trend is an increase in high-value employment, export and household income, providing an ever-expanding local workforce to meet the needs of new businesses as new investments takes place.
The changes in the region have been occurring for a number of years now, but really did begin to show since completion of the $1.8b Sunshine Coast University Hospital this year. The health hub is forecasted provide a $5.3b in direct expenditure to the local economy as well as providing 12,000 jobs upon completion. Not to mention that the Birtinya town centre is now no longer a concept, with site works under way Stockland’s neighbouring Bokarina Beach residential community is well underway.
Closely following is the new multi-million-dollar redevelopment of Kawana Shoppingworld, set to begin this month it promises to deliver what we have all been waiting for the Sunshine Coast’s very first Gold Class cinema.
Mirvac Retail plans to introduce a 6000-square metre multi-screen Event Cinema complex, complete with a VMAX and Gold Class cinema screens. Also, following this development is a new 595 space multi storey car park, as well as more casual dining tenancies and street-fronting retail stores.
Kawana Shoppingworld centre manager Claire Torkington said the redevelopment would provide about 200 new retail jobs when all stages were complete, and would also expand the centre’s offering and engage prospective tenant interest in the Sunshine Coast.
This not even scratching the surface as in Maroochydore we still have the new Maroochydore CBD on the 53-hectare greenfield site, less than 200m from Lendlease’s Sunshine Plaza shopping centre which is currently being upgraded at a cost of $350-million and will add a David Jones, 120 speciality shops and 1500 car parks.
Development is well and truly underway in the $5-billion Aura project in Caloundra South to facilitate a community of about 50,000 people. AVID Property Group have begun their $3-billion Harmony to be developed over the next 20 years at Palm view, with 4800 dwellings on 378-hectare site with its own town centre.
Arguably one of the most instrumental changes coming from the $347-million expansion of the Sunshine Coast Airport which will be providing an international gateway to the region and is scheduled to be ready for operation in 2020.