Construction is fast progressing on the first stage of Nautilus Investments Corporation’s Stringybark Place development in Buderim, which is set to provide much-needed housing to Sunshine Coast locals in the undersupplied Buderim and Sippy Downs area.
Nautilus Investments Corporation spokesman Rhys Monteath said with substantial population growth occurring right across the Sunshine Coast, the demand for new housing in Buderim had attracted the Melbourne-based company to the area.
“We’re currently developing a number of projects in Brisbane, Melbourne and Perth and saw the Sunshine Coast as a great opportunity to invest and proactively develop over the coming years,” Mr Monteath said.
“Recent figures show that the Sunshine Coast is undersupplied by approximately 1,700 new homes, and demand is expected to remain strong well into the future.”
Mr Monteath said he was delighted to see building works commence on-site, with local company RCQ Construction (RCQC) taking on the role of head contractor.
“We are very pleased to have local builders RCQC working with us on this project. It is always our preference to complete projects with leading class contractors and RCQ Construction has developed a reputation as the number one builder operating in the townhouse space on the Sunshine Coast,” Mr Monteath said.
“Their team has been instrumental in developing an acoustic barrier that ensures traffic noise from the Sunshine Motorway is not carried to the development site.
“RCQ Construction also carried out extensive civil works to prepare the site, importing 630 truckloads of fill to raise the site level to council standards and creating effective drainage channels.”
Mr Monteath said he expected the 132 townhouse development would prove very popular amongst local buyers, given its proximity to the University of the Sunshine Coast and Kawana health hub and easy access to the Sunshine Coast Motorway and Bruce Highway.
“We felt the timing was right to launch a new development in the area given that there are a number of large-scale infrastructure projects in motion on the Sunshine Coast and sales figures in the region are looking more positive.”
“Independent property experts like Michael Matusik are touting that the recovery in the local property market has begun*, so this kind of commentary is sure to drive investor interest.”
Stringybark Place is located on 4.497 hectares on Toral Drive, off Stringybark Road on the border of Buderim and Sippy Downs. Stage One will consist of 66 two-storey townhouses each with three bedrooms, two bathrooms and access to communal facilities such as a swimming pool, gazebo and barbeque areas.
RCQ Construction General Manager Steve Cole said his team had worked hard to prepare the site, including installing a range of new mains infrastructure for sewer, power and water.
“The site could be considered a greenfield site in a sense, as the closest water and sewerage infrastructure was located roughly 500m away, so we had to extend this in order to connect the development site to these services.”
Mr Cole said RCQ Construction was currently working on over 15 projects across Queensland, but was particularly enjoying working on a project so close to home given the company’s ties to the Sunshine Coast over the past 26 years.
“The $50 million project presents a positive outcome for our local economy as we’re committed to using Sunshine Coast suppliers and tradespeople throughout the construction period,” Mr Cole said.
“It’s great to be making a positive contribution to the community we’ve called home for so long.”
Construction is expected to conclude mid-year with a second stage of a further 27 townhouses planned for release in March 2014.