Prime 31-hectare site sold in ‘significant’ hinterland property deal
A huge 31-hectare parcel of land just moments from Beerwah’s town centre has been sold for more than $21 million.
The ‘significant’ sale of the prime hinterland parcel of land at 68-77 Newells Road was settled on Friday (October 6), with the as yet unnamed buyer believed to be a state-based property development group.
The land has been in the Newell family for about 100 years.
The site, just two kilometres from central Beerwah and adjacent to Steve Irwin Way could eventually be turned into a 92-lot subdivision or a 249-lot land lead community designed on a code accessible basis.
The property is largely cleared and level and is one of the few remaining developable properties on the Sunshine Coast of scale.
Positioned within the Beerwah local plan area, it is also within a low density residential zone, similar to much of the hinterland town.
Ray White Special Projects director, Tony Williams, said it had been a very competitive sale.
“Through this process we had 25 offers that were presented,” he said.
“There were strong positions put forward and ultimately the contract was settled.”
Mr Williams said the sale, showed the high level of competition for developable land in the hinterland.
“There’s very strong interest in large part due to the lack of supply of quality land that can be serviced.”
A smaller 18 hectare beachfront site was recently sold at Yaroomba for what was believed to be more than $100m.
The land, bought by the Dennis Family Corporation from Sekisui House, had gained significant controversy after a seven-storey five-star resort was approved by the council.
The deals come as concerns about housing supply have been growing this year.
The Sunshine Coast population is forecast to grow by about 150,000 in the next two decades.
Pressure is building between developer Stockland and the council about the best location for large new housing estates.
While the council prefers Beerwah East as a major new housing site, Stockland is pushing to expand its Aura project through the development of the 1231 hectare Aura South (also known as Halls Creek).
Aura South could eventually be developed into 10,000 homes.
Beerwah East has capacity for about 20,000 homes.