SUNSHINE COAST BOOM ATTRACTS BRISBANE DEVELOPER

Written on the 27 September 2016

SUNSHINE COAST BOOM ATTRACTS BRISBANE DEVELOPER PROLIFIC Brisbane-based developer Mosaic Property Group has moved into the Sunshine Coast market as a result of booming investment in the region.

Its first purchase is a $1.375 million Kings Beach site on Canberra Terrace. Mosaic has lodged a development application for a 31-apartment complex on the site, which is perched high on a north east facing ridge on the street, and plans will be released to the market in October this year.

Mosaic Managing Director Brook Monahan (pictured) says the company is conducting due diligence on a number of other Sunshine Coast sites.

"We are developing a healthy workbook for release over the coming months and next year," he says.

"We have a sustainable and measured plan in place to deliver in-demand apartment product to the Sunshine Coast.

"The move is in keeping with our long-term development strategy and we will continue to have a strong presence in our core market of Brisbane's inner suburbs.

"Our Sunshine Coast operation will be a smaller version of what we do in Brisbane, reflecting the regional nature of that market."

Monahan says the decision to move into the region came after 18 months of investigation and is driven by strong economic and market indicators suggesting the Sunshine Coast's residential property cycle was entering the growth stage and that its economy was maturing.

"There have been some key changes in game changing projects and outlook for the Sunshine Coast," he says.

"The Sunshine Coast's GRP has doubled in the past decade and there is a long-term economic plan in place to attract major investment.

"There is a transition away from a heavy reliance on tourism and construction which will underpin more stable and sustainable economic and property cycles.

"We are seeing major infrastructure projects under way or planned across transport, health, education and city building to the tune of more than $18 billion.

"This level of infrastructure development is the catalyst for a significant boost to the population, which according to the ABS is growing at 2.3 per cent annually.

New projects on the Sunshine Coast include:
  • The $400 million airport upgrade;
  • Sun Central -  the city's new CBD in Maroochydore;
  • the $400 million Sunshine Plaza upgrade;
  • the $3 billion residential project at Palmview;
  • the $5 billion Stocklands Aura;
  • and the Sunshine Coast University Hospital at Kawana


Two of the founding directors, including Monahan, are based there, so they have a strong background in the region.

"In 20-odd years on the coast, we haven't seen this much private and government investment, from both the state and federal governments, that will result in long-term job creation," says Monahan.

"Honestly, I've never seen anything like this, it is a great period for the Sunny Coast."

Mosaic's building arm, Mosaic Construction, has already started making inroads on the Sunshine Coast after winning House of the Year for a stunning Maleny home at the 2016 Master Builders Sunshine Coast Housing and Construction Awards earlier this month.

The rural home, built by Mosaic Construction as the final stage of a 110 acre site masterplan, also won Best House Over $2 Million and Best Residential Kitchen.

Mosaic is a vertically-integrated boutique builder and developer, managing everything from the architecture to the sales and subsequent management of a completed building.

Its expansion to the Sunshine Coasts follows a buoyant 2016 financial year during which the company doubled its Brisbane workbook to more than $120 million.

The Paddington-based company averages around 12 developments each year, or 350 products mostly within 2-15kms of the Brisbane CBD.

Mosaic, which focuses on boutique apartments and town houses in affluent inner-ring suburbs, has begun rolling out at least five new projects across Brisbane.

 


Latest News

ONE OF AUSTRALIA'S 'DOPE HOPES' MOVES CLOSER TO IPO

QUEENSLAND Bauxite (ASX: QBL) is planning an independent ASX listing for its majority-owned cannabis producer, with Q...

AFTERPAY GOES TRANS-TASMAN WITH TRADE ME DEAL IN NEW ZEALAND

AFTERPAY Holdings Ltd (ASX: AFY) has entered into an agreement with New Zealand trading site Trade Me Group Ltd (A...

THE 2017 MELBOURNE TOP 50 COMPANIES REVEALED: NUMBERS 50 TO 41

THIS WEEK Business News Australia will reveal the 2017 Melbourne Top 50 Companies, featuring all the movers and sh...

FORMER MFS EXECUTIVES HIT WITH DISQUALIFICATIONS AND MASSIVE FINES FOR MISAPPROPRIATING FUNDS

FIVE key players involved in an investment company that collapsed in 2008 owing $2.5 billion have been ordered to ...

Related News

AFTERPAY GOES TRANS-TASMAN WITH TRADE ME DEAL IN NEW ZEALAND

AFTERPAY Holdings Ltd (ASX: AFY) has entered into an agreement with New Zealand trading site Trade Me Group Ltd (A...

STARTUP SUCCESS BOILS DOWN TO PERSONALITY, SAYS EXPERT

THOSE who own startups will know that there are many essential qualities of a good entrepreneur; their tenacity, fina...

SLATER AND GORDON TAKES SPOTLESS TO COURT

SPOTLESS Group (ASX: SPO) has been hit by a class action launched by Slater and Gordon (ASX: SGH) in the Federal C...

TOPSHOP GOES INTO ADMINISTRATION AMID VOLATILE RETAIL MARKET

TOPSHOP has become the latest in a string of retailers blasted by the volatile retail market, as the iconic fashio...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter