An important step towards the delivery of Maroochydore’s new City Centre has been taken with the lodgement of a subdivision application and the first four Precinct Plans for approval. These documents set up the detailed planning framework for the initial stages of the new City Centre and provide the first real insight into the development opportunities that will exist. A few key details of the application and Precinct Plans are summarised below.
The lot reconfiguration application seeks approval to subdivide land within Precincts 1 & 3 of the new City Centre in two stages. Precincts 1 & 3 comprise the Maroochydore Parkland and Core Business Precincts. The first stage of the subdivision will create 14 management lots, 5 drainage lots and a balance lot. The drainage and balance lots will ultimately accommodate the road network and waterway that will underpin the initial phases of the City Centre.
The second stage of the subdivision will split the management lots into 35 development and park lots. The majority of these lots are located within Precinct 3, the Core Business Precinct, and these lots will form the commercial heart of the new City Centre. The detailed plans show that the proposed lots within the Core Business Precinct will range in size from 714m2 to 2,080m2 but the application does seek flexibility to allow these lot sizes to be varied in response to market demands.
As the majority of the proposed lots are located within the Core Business Precinct, their development potential will be controlled by Precinct Plan 3 which provides details of the preferred land uses and the detailed design criteria that will be used to control the development yields on lots within this area. Overall, the Precinct Plan envisages that the proposed lots will be developed for high density, mixed use development comprising primarily retail, office and residential uses.
At this stage, it is understood that land within the initial stages of the new City Centre will start to be released in the first half of 2016 but SunCentral is already willing to speak to potential investors. If you want to know more about the emerging City Centre please contact Mick Sheppard on 5443 5566.