Sunshine Coast development marks major construction milestone
July 19 , 2016
Buderim-based development Stringybark Place is celebrating a significant construction milestone for Stage Three, with the first slab having just been poured following the sell-out of all 25 townhouses in just nine months.
Gavin Wuiske, General Manager at RCQ Construction – the builder appointed to deliver the project – said he expected construction would take approximately six months, with works scheduled for completion in December this year.
“The slab pouring marks the first major construction milestone following the successful completion of stages one and two, and we’re delighted to see this latest stage coming to life,” Mr Wuiske said.
“The current works are expected to inject approximately $12.5 million into the local economy, with 40 different trades involved with construction over the course of the project.”
“Whether concreters, tilers, electricians, carpenters or plumbers, we have more than 20 different tradespeople on site on any given day.”
Mr Wuiske said as a locally-based company, RCQ Construction endeavoured to source as much of its workforce as possible from the Sunshine Coast region.
“Having been in operation in South-East Queensland and beyond for almost three decades, we’re committed to giving back to the local community and creating opportunities for local workers.”
“Our team has been involved with this development since 2013 when we constructed Stage One, so it’s great to be continuing our presence and seeing the project grow from strength to strength.”
Rhys Monteath, Sales Director of Hamilton Corporation which owns Nautilus Investments — the property development company behind the Stringybark Place development — said it was positive to see construction moving along in leaps and bounds and he expected it wouldn’t be long before construction also commenced on Stage Four.
“Based on current enquiry levels, we expect the three-bedroom townhouses in Stage Four will sell out very quickly,” Mr Monteath said.
“While this stock was only released to market a few weeks ago, Stage Four is already 30 per cent sold.”
Mr Monteath said much of the demand was driven by the development’s solid rental yields and high occupancy rates.
“At present, we have a 100 per cent occupancy rate in both of the completed stages, which speaks volumes about the prime location and quality of the townhouses.”
“Rental yields have also been sitting consistently at 5.5 per cent for investors, so it’s no surprise that the development has generated a lot of interest in the market.”
“We’re also finding owner-occupiers have been drawn to Stringybark Place, particularly as a result of the various amenities nearby such as the University of the Sunshine Coast as well as the schools and shopping precincts.”
Stringybark Place is a $50 million project that will encompass 132 townhouses once complete. Boasting almost two hectares of open recreational space, the development incorporates two barbeque and pool areas and offers a 24/7 on-site manager. Stage Four is currently selling, with three-bedroom townhouses available from $399,000-$405,000.
For more information regarding RCQ Construction please visit www.rcq.net.au or to learn more about Stringybark Place, log on to www.stringybarkplace.com.au or call 0434 050 223.
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Media contact
Kristen Roder, Fresh PR & Marketing
P: 0406 546 461
E: kristen@freshprm.com.au
