$10 million business park taps into strong industrial demand
Cooroy Business Park has tapped into strong demand for industrial space on the Sunshine Coast’s booming north with buyers securing more than half of the debut release well ahead of construction being completed.
Investors and owner-occupiers looking to get afoothold in one of the fastest-growing townships in the Noosa region have snared 20 of the 39 units offered inthe first stage of the $10 million project.
Cooroy Business Park, which is being undertakenHM Developments, is backed by Sunshine Coast property pioneers the Henzellfamily and heralds a new era for the local commercial-industrial market.
HM Developments, established by Mclean Henzelland Ben Murphy, has created a five-stage masterplan for the 7ha site that willinclude a range of commercial facilities including a service station andfast-food outlet.
Cooroy Business Park is located on ahigh-profile site at 5 Taylor Court adjacent to the Bruce Highway along thesouthern entry to the Cooroy township, just 20km west of Noosa Heads.Construction began early last year and will be completed next month.
Featuring innovative architectural designfeatures, Cooroy Business Park has been purposely created to appeal to a broadrange of new businesses looking to locate in the rapidlygrowing region. The project will include a new shared outdoor recreationarea for staff and visitors in a fully landscaped environment.
Mr Henzell, whose family were the visionarydevelopers of the Pelican Waters community near Caloundra, said demand for CooroyBusiness Park units has been solid among buyers looking for quality industrialspace in the northern Sunshine Coast region.
“Inquiries we’ve received indicate a pent-updemand for this type of development which offers the best possible exposure andeasy access to the highway,” said Mr Henzell.
“Cooroy Business Park has been designed toappeal to a broad market which is why we have taken an innovative designapproach to this project.
“It’s created a lot of interest among new andexisting businesses in the area and we’re seeing that interest pick upsignificantly as we edge closer to completion.”
Units in Cooroy Business Park range in sizefrom about 65sqm to 151sqm, although they can be amalgamated to create largerspaces. Mezzanines are approved for most of the tenancies and each unit isfitted with a quality kitchenette and bathroom facilities with shower. There isoff-street parking for 60 vehicles.
With Mr Henzell and Mr Murphy at the helm, HMDevelopments has more than 35 years’ combined experience in the real estate,development and construction industry. The company is highly active in theSunshine Coast market targeting boutique residential and industrialdevelopments.
HM Developments’ flagship project is the $200million Cove at Pelican Waters, an upmarket lifestyle precinct comprising fourresidential towers in an exclusive waterfront enclave in the heart of PelicanWaters.
The Cove is currently awaiting developmentapproval and is set to deliver 220residences once completed in 2025, making it the largest private development on the SunshineCoast.
Theexperienced Sunshine Coast-based developers are also responsible for theBanksia on Baden Powell project in Maroochydore, which offers 15 two andthree-bedroom apartments, and the soon-to-be released Salt on Taylor luxurytownhouse project, situated in the burgeoning Golden Beach.