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Demand heats up for Mooloolaba development

Squire Development Group’s Chris Fletcher and Majella Coleman on site

Property

Demand heats up for Mooloolaba development

Sunshine Coast based Squire Development Group is preparing to break ground on their latest boutique development Allure Mooloolaba, with 60 per cent of the project sold since the launch in early September last year.

Allure Mooloolaba is located at 73 First Avenue, just one street from the world-famous Mooloolaba Beach and comprises 32 one, two and three-bedroom residences across seven levels, including two penthouses with a mix of ocean and hinterland views.

Construction is forecast to commence this month, with an anticipated completion later this year.

Baydn Dodds of Colliers International, who is marketing the development on behalf of the developer, reports over 250 enquiries in just seven weeks coming from local, interstate and New Zealand buyers.

“This shows the buoyancy of the market and the interest in Mooloolaba as a Sunshine Coast beachside destination,” Mr Dodds says.

“The majority of the buyers (45 per cent) are local retirees and downsizers who will occupy immediately, followed by interstate investors (30 per cent) and Brisbane investors (20 per cent) looking to lease short term, visit occasionally on the weekends, then occupy once they retire.

“We have had a few buyers come from New Zealand, with a lot of interest coming from Auckland. There are very limited new apartment opportunities in Mooloolaba so this surge in interest is not surprising.”

Fuelling the interest in the Mooloolaba area are other infrastructure projects underway or that are commencing soon. These include the Mooloolaba Foreshore project, the Wharf Mooloolaba revamp and the anticipated high density residential project to be developed by the Aria Property Group opposite the Mooloolaba Surf Life Saving Club.

Squire Development Group managing director Peter Fletcher says Allure has been designed by leading Sunshine Coast architects OGE Group.

“We have also engaged local consultants and local contractors and will focus on delivering this project in 2018. Being our only project currently in development it will be our sole focus,” Mr Fletcher says.

Tony and Judy Purser have purchased the top floor penthouse at Allure Mooloolaba and are relocating from Brisbane into their large ocean view residence once completed late 2018.

“Allure Mooloolaba really appealed to us due to its small boutique size and proximity to the beach and Mooloolaba cafes, restaurants and shops,” Mr Purser says.

“When we saw the proposed view from the top floor penthouse and inspected the level of finishes, we were sold. We think it will be a really beautiful place to live as well and for entertaining family and friends.”

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