Live SEQ | 2 min read

$440 million Sunshine Plaza redevelopment further maximises value uplift in Maroochydore

Marcus Muir
Marcus Muir
18/02/19

Public and private spending into regions increases land values and creates a higher demand, with more residents relocating into a region due to better employment, education, transport or entertainment opportunities.

When it comes to investing into the property market, it’s important to ensure you are maximising the ‘effortless advantage‘ or value uplift from public investment into new or upgraded infrastructure and amenity. Public and private spending into regions increases land values and creates a higher demand, with more residents relocating into a region due to better employment, education, transport or entertainment opportunities.

South East Queensland is currently the front runner for the biggest City Deal in the nation. As one of the fastest growing regions in Australia, SEQ will be transformed by a $58 billion boost over the next 25 years.

The Sunshine Coast is Queensland’s strongest property performer at present spurned on from a massive $20 billion infrastructure pipeline of projects.

And one of those projects is about to be unveiled on March 28, with the Sunshine Plaza officially opening it’s $440 million redevelopment. The redevelopment will see Sunshine Plaza become the first super-regional shopping centre north of Brisbane and is expected to generate 2300 additional retail jobs for the region on completion.

“Sunshine Plaza now has some of the biggest national brands and most sought-after specialty stores, so locals no longer need to travel to Brisbane for their ideal shopping experience — everything they need, and more, is right here.” Gary Horwitz, Lendlease Managing Director of Retail.

FAST FACTS:

  • Number of new tenancies: 114 (44 in first stage of new mall; 70 in stage two opening)
  • Total number of retailers now at Sunshine Plaza: 276
  • Total number of stores post-development: 345
  • Total square metres: ~107,000sqm
  • Total number of parking spaces: almost 5,000
  • Total investment for redevelopment works: $440 million
  • Number of construction personnel onsite daily during development: 370 (as at Jan 2019)
  • The high ropes adventure course will open mid-2019

Data and image source: Sunshine Plaza Redevelopment