New CBD sales fail to meet $11.9m forecast
Land sales have ground to a halt at the highly-anticipated Maroochydore city centre, despite forecasts of an $11.9 million year.
New details on land sales have been revealed by SunCentral, which is owned by Sunshine Coast Council.
SunCentral is leading the transformation of the former 53ha golf course into a futuristic city centre.
CEO John Knaggs confirmed land sales for 2019-20 were forecast to be $11.9 million, but no new contracts were signed.
"During financial year 19/20 there were no signed contracts, however financial settlement was completed on three lots based on contracts entered into during the previous financial year," he said in a statement.
"Two further lots also went under contract during this period."
To date, Mr Knaggs said settlements had been reached for nine lots with an additional four currently under contract.
A recent Sunshine Coast Council progress report revealed expected land sales at the city centre were not met last year, but said it was difficult to forecast timing for the 25-year project.
The $430 million project allows for up to 150,000sq m of commercial and 65,000sq m retail floor space and 4000 residential apartments.
The council report also said delays were expected to the commissioning of the $21 million automated waste collection system due to COVID-19 travel restrictions.
While construction was completed on time and budget, international experts were unable to commission the system remotely.
A council spokesman said if needed, garbage trucks and wheelie bins would be used in the interim.
Evans Long will open the city centre's first build later this year.
Construction on Foundation Place is due to be finished on September 27 and director Dirk Long said the commercial property's first tenants would move in from October.
Mr Long said about 80 per cent of the 16 office spaces were leased to professional service businesses such as lawyers and accountants.
Meanwhile, construction has started at the Sunshine Coast Council's city hall building, expected to open in 2022 and Habitat Development Group's $83 million Market Lane Residences.
Habitat has lodged a development application for a second project in the city centre, Corso Residences at South Sea Islander Way, a 15-storey residential and retail building.