The Maroochydore City Centre: A Game Changer for the Local Property Market

The Sunshine Coast, known for its beautiful beaches, relaxed lifestyle, and thriving tourism industry, is on the cusp of a major transformation. At the heart of this change is the proposed development of a new central business district (CBD) in Maroochydore, set to be a major hub for the region’s future economic, social, and property market growth.

This ambitious project promises to be a game changer for the Sunshine Coast, particularly in terms of real estate, with profound implications for both residential and commercial property sectors.

A Vision for the Future

The Sunshine Coast has long been one of Australia’s fastest-growing regions, with the population expected to reach around 500,000 by 2041. Currently, the region lacks a defined city centre that can serve as an economic engine and focal point for business and innovation.

The proposed Maroochydore City Centre is being designed to fill this gap, offering a vibrant urban hub with office spaces, retail outlets, residential areas, and entertainment precincts.

Maroochydore, at the site of the former Horton Park Golf Club plus land on Dalton Drive, has been selected as the site for this CBD, largely due to its central location, proximity to major transport routes, and access to the beach, making it an attractive destination for both businesses and residents alike.

Australia’s largest greenfield CBD development

The Maroochydore City Centre will span over 53 hectares of priority development area (PDA) land, with plans for modern commercial office towers, high-density residential apartments, a diverse retail offering, and a network of public spaces.

One of the most exciting aspects of the project is the integration of smart city technologies, which will make the CBD a model of sustainability and innovation. Solar power, electric vehicle charging stations, and green spaces will be incorporated into the design, aligning with the region’s commitment to environmental sustainability.

A partnership with Walker Corporation

The PDA area is to be developed in partnership between Sunshine Coast Council, SunCentral Maroochydore Pty Ltd (a special purpose development oversight entity) and Walker Corporation, and the project is progressing with various approvals and construction milestones already completed and progressing.

Walker Corporation are renowned for their capability in “place-making” urban development, and will provide an experienced and savvy corporate management to the development.

The new CBD will be supported by critical infrastructure upgrades, including improved transport links, such as a light rail system and new bus routes. These developments will not only improve connectivity within the region but also enhance access to and from the Sunshine Coast, the Maroochydore Airport and from centres such as Brisbane, making it an even more attractive location for those who take up this locale.

A boost to the local property market is forecast

One of the most immediate and tangible benefits of the Maroochydore City Centre is the positive impact it will have on the local property market. The development of a vibrant, well-connected city centre will drive demand for both residential and commercial real estate across the region.

1. Increased demand for residential properties

As the new CBD attracts more businesses, workers, and visitors, the demand for residential housing is expected to rise significantly. The Sunshine Coast’s appeal as a lifestyle destination has long attracted those seeking a balance between work and leisure. With the establishment of a central business district, there will be greater opportunities for residents to live, work, and play in the same area.

The CBD’s planned residential precincts will offer a variety of multi-residential dwelling options, catering to diverse demographics including young professionals, families, downsizers and retirees. The influx of workers to the CBD will likely increase demand for adjacent locations, creating a steady stream of professional buyers for local vendors.

The development will also attract people from outside the region, including interstate and international buyers looking for more affordable property options compared to larger cities like Brisbane and Sydney. This interstate migration, combined with the region’s natural beauty, is likely to continue to contribute to the ongoing appreciation in property values.

2. Residential property prices

While the Sunshine Coast property market has already experienced significant growth in recent years, the introduction of a major CBD is likely to support prices to move even higher. Historically, the location of and/or the development of a CBD in a growing region has led to an increase in property values, as infrastructure improves and amenities become more accessible.

In the case of the Sunshine Coast, the combination of an increased number of jobs, new commercial developments, and improved infrastructure will make the area an even more desirable place to live. This could lead to a rise in both the capital value of homes and rents, with more people looking to capitalize on the convenience and lifestyle benefits offered by a thriving central business district.

3. Commercial property growth

Beyond residential real estate, the commercial property market is set to experience significant growth. The development of the Maroochydore City Centre will provide a prime location for businesses, from tech start-ups and financial services to retail chains and hospitality businesses. The new CBD will offer modern, energy efficient and up-to-date office spaces; property types that remain in high demand in CBD’s across the globe, with the “flight to quality and amenity” a well documented and proven phenomenon.

For commercial property investors, the Maroochydore City Centre presents an exciting opportunity. With an increasing number of businesses expected to set up in the area, demand for office space will be strong, which in turn will support property values.

The CBD will likely become a hub for innovation and entrepreneurship, with collaborative workspaces and co-working hubs designed to attract the start-up community. This will create further demand for flexible office spaces and commercial property investments.

 4. Long-term economic impact

In the long term, the Maroochydore City Centre will help diversify the region’s economy, reducing its reliance on tourism and retail, and bolstering industries such as technology, education, and healthcare. A more diverse economy creates a more stable property market, as it reduces the impact of seasonal fluctuations and economic downturns.

The influx of highly skilled workers and businesses will also elevate the demand for high-end residential properties, such as luxury apartments and townhouses. High-quality infrastructure, green spaces, and proximity to leisure activities will make the area appealing to professionals and families looking for a modern, high-standard of living.

Additionally, the increase in employment opportunities will attract people from other parts of Queensland and Australia, further boosting the local property market.

An exciting development for the “Coast” to be proud of

The proposed Maroochydore City Centre represents a pivotal development that will redefine the region’s landscape, both physically and economically. The project’s comprehensive approach to urban development, integrating residential, commercial, and recreational spaces, will create a dynamic, sustainable city centre that attracts investment, residents, and businesses.

From a property market perspective, the benefits are clear. Increased demand for residential and commercial properties will drive property values higher, offering opportunities for both investors and homeowners. The development of a vibrant, well-connected CBD will make the Sunshine Coast one of the most desirable places to live and work in Australia, ensuring long-term growth and prosperity for the local property market.