CBRE's Brendan Robins and Rem Rafter on site at Wurtulla.
CBRE's Brendan Robins and Rem Rafter on site at Wurtulla.

Townhouses planned for Nicklin Way site

A VACANT block of land which was at the heart of a neighbourhood uprising four years ago has changed hands and is now earmarked for a housing development.

The 1.5ha block on the Nicklin Way at Wurtulla was the focus of protests by neighbours after a Chinese developer unveiled plans to an $87 million development including several seven-storey buildings.

Nearby residents protested against the plan, claiming the tall buildings in the 26 Degrees development would block their sunlight.

The proposal, which included supermarket, commercial market and restaurants, was outside the town plan for the area and was refused by council.

A local developer has now paid $3.8 million plus GST for the block, after a campaign by CBRE's Brendan Robins and Rem Rafter.

Mr Robins said the property, owned by a syndicate of investors backed by South East Asian money, was passed in after failing to meet reserve.

"A lot of people looked at the site and wanted to put commercial/retail on it, but it was always going to be a medium density use," he said.

"The new owner has submitted a development application for 65 town homes ... which they are finalising and will look at launching the project later in the year."

"We are finding that these sites that yield between 10 and 80 lots are in very high demand."

The property, on the corner of Regatta Blvd, was bought by an entity controlled by Karloo Constructions.

The site has 250 metre frontage on Nicklin Way and also significant exposure to Regatta Blvd.

Mr Rafter said the location was attractive to the new owner, who has been a significant developer on the Sunshine Coast.

"It's less than 2km from the new Oceanside Health precinct, and although it's on a busy road, all the amenities are nearby," he said.

WURTULLA

Lot 890 Nicklin Way

Features: High-profile townhouse site sells. Vacant 1.5ha site on suitable for medium-density use, two-street frontage    

Result: $3.8million plus GST

Agent: Rem Rafter and Brendan Robins - CBRE

Contact: 0408 714 420, 0402 159 588



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