First Light emerging in Mooloolaba
June 1, 2016
With the two basement levels and the ground-level retail floor now complete, First Light Mooloolaba is rapidly emerging out of the ground and given it’s the last First Avenue parcel to be developed, it’s no surprise that the apartments have been very favourably received by the marketplace.
Gavin Wuiske, General Manager of RCQ Construction who was tasked with building the apartments said the First Light worksite was thriving with an average of 50 workers on site each day.
“It’s full steam ahead and we are delighted with the progress we are making onsite,” said Mr Wuiske.
“The two basement levels were certainly a big undertaking with over 900 truck movements required to excavate the basement. It’s good to now see the building well and truly out of the ground as we continue to build the 67 apartments.”
“We expect there will be over 100 workers onsite each day as the project progresses which we anticipate will inject over $35 million into the Sunshine Coast economy during the construction phase.”
“At RCQ we are committed to using a local workforce wherever possible so projects of this nature are definitely good news for the region.”
The construction team is currently pouring Level 3 which requires 170m3 of concrete and are using a prefabricated panel wall system for the building core and load bearing walls, coupled with a lightweight external façade.
“While the street’s popular beach-side location has required us to prepare for some challenges — such as the erection of the crane which has 70m3 of concrete and seven tonnes of steel holding it in place — it has also given us a taste of what the future residents of First Light will experience on a daily basis and it’s definitely a great lifestyle choice.”
Jay Emmerton, CEO of Reed Property Group, the developer behind First Light, believes the strong sales figures are thanks to the apartments’ prime location only 100 metres from Mooloolaba beach which was recently voted one of Australia’s top beaches.*
“I’m delighted that we’re over 97 per cent sold with only two apartments of the 67 remaining. It’s a great position to be in with less than a year until completion,” said Mr Emmerton.
“The apartments have appealed to all types of buyers — from owner-occupiers to weekenders from Brisbane and some investors. The two-bedroom, two-bathroom apartments average a generous 88m2 which in an area that generally offers more compact holiday apartments makes for a refreshing change.”
“As the population continues to grow on the Sunshine Coast, and the amount of land available walking distance from the beach continues to decrease, it’s easy to see why these apartments are being snapped up.”
“We are also still seeing high demand for rental properties on the Sunshine Coast and a good return on investment for those looking to purchase.”
According to recent research** by independent consultant Urbis, the Sunshine Coast indicates a gross rental yield for apartments of 5.0 per cent, compared to 3.9 per cent in Sydney, 4.1 per cent in Melbourne and 4.7 per cent in Brisbane.
In other positive news for property owners, the Sunshine Coast population grew at a higher rate than Sydney, Brisbane and Melbourne between 2005 and 2014, and is forecast to continue to grow at a steady rate through to 2036.
While increased population growth can often spell increased unemployment for regional centres, the report also showed that employment on the Sunshine Coast is forecast to grow at around 3,539 new jobs per annum to 2031 thanks to the major infrastructure and other projects underway in the region.
This positive outlook for the Sunshine Coast implies that the two remaining apartments at First Light Mooloolaba will not be available much longer. The apartments are on levels 10 and 11 and are priced from $479,000.
The building is north east-facing which provides excellent views of the hinterland and Mooloolaba Beach and residents will only be metres away from Mooloolaba’s vibrant esplanade and patrolled beach.
To find out more about First Light Mooloolaba — which will be completed in March 2017 — please visit www.firstlightmooloolaba.com.au or contact Reed Property Group Residential Sales Executive Nick Criss on 0403 001 992.
// Ends.
Media contact: Maya Gurry, Fresh PR & Marketing l 0410 109 102 l maya@freshprm.com.au
