Sekisui House has listed for sale its 18.5-hectare Yaroomba beachfront development site once earmarked to become a $900 million eco-resort.
It comes just a few months after Brisbane’s Supreme Court found in Development Watch and Friends of Yaroomba’s favour, upholding their appeal against the controversial development.
The project was initially approved by Sunshine Coast Council in 2018 but community groups appealed that decision in the Planning and Environment Court.
In 2020, the Planning and Environment Court upheld council’s approval.
The groups then mounted a community-funded legal challenge early last year raising hundreds of thousands of dollars, with February’s announcement finding in favour of the community groups.
The developer is now selling the 1415 David Low Way site, which has been listed for sale with Ray White Special Projects.
The advertising blurb on Ray White’s website notes the site presents a “magnificent unique opportunity to acquire a premium development parcel to offer a mix of detached housing, medium density, and apartment product in the Sunshine Coast market where housing supply is under severe pressure.”
Group CEO at Sekisui House Australia, Atsuhide Seguchi says the beachfront site at Yaroomba presents an exciting opportunity to bring to market quickly house lots and apartments under a current approval for a master-planned residential development.
“The sea change trend continues to see Australians seek out homes and residential communities in coastal regions along the Eastern Seaboard, with the Sunshine Coast residential property market performing extremely well into 2022,” he says.
“We anticipate that the site’s prime location coupled with secured development approval will drive strong interest in the sale.”
The coastal site has approval for the development of a gated residential apartment and housing estate with buildings of up to four storeys.
The approved development will be an extension of the adjoining prestige Coolum Beachside estate.
The development approval permits a total of 291 dwellings, split between 112 housing lots, 41 terrace dwellings up to 3 storeys and 138 apartments in four-storey buildings.
In February, after the court decision, Sekisui House project director Evan Aldridge said: “Given the previous approval issued by the Sunshine Coast Council in June 2018 and subsequently the Planning
and Environment Court’s decision in June 2020 to uphold the approval, we are disappointed with the court’s ruling.”
Article source: www.hot91.com.au