The Sunshine Coast region is surging forward on a wave of once-in-a-lifetime major urban infrastructure investment. Already delivering dividends from billions of dollars in capital expenditure and the creation of thousands of jobs, the timing is right and astute investors are poised to reap extraordinary rewards.
SUNSHINE COAST... WINDS OF CHANGE
GAME-CHANGING INVESTMENT TRANSFORMS THE SUNSHINE COAST
The Sunshine Coast is one of Australia’s most desirable regions to live and is renowned for its superb natural attributes and diverse, vibrant communities. Located in South East Queensland, about 100 kilometres north of Brisbane, the region is home to a population of more than 280,000, which is predicted to grow to 450,000 by 2031.
The Sunshine Coast economy has doubled in size in the last decade, with a current gross regional product (GRP) of more than A$13 billion. The economy is predicted to grow in a strong and sustainable pattern over the next 20 years to reach A$33 billion in 2033, accompanied by an increase in high-value employment, export and household income.
The Sunshine Coast was the highest growing regional economy in Queensland between 2000-01 and 2010-11 (Queensland Government 2013). The average annual economic growth of the Sunshine Coast from 2001-13 (4.05 per cent per annum) compared with other major global economies (International Monetary Fund, October 2013) demonstrates the region’s economic strength and resilience. Economic growth on the Sunshine Coast surpassed the Australian average annual growth by 1 per cent per annum over this period.
Source: SCRC Website 2016
DEMAND INTENSIFIES ON THE BACK OF ENORMOUS INVESTMENT.
The Sunshine Coast’s regional growth has traditionally been fuelled by a number of key drivers including:
- Its strategic location within economically dynamic South East Queensland;
- Its quality lifestyle focused on ideal climatic conditions and diverse recreational opportunities;
- Its proximity to large population centres that make it a favourite day trip and weekend destination;
- Construction and Retail Activities supported and promoted by tourism.These factors are still in place and are now supplemented by powerful new economic catalysts.
THE $4 BILLION MAROOCHYDORE PRINCIPAL ACTIVITY CENTRE
Designated by the Queensland State Government and developed by the amalgamated Sunshine Coast Regional Council, the Maroochy City Centre Plan defines Maroochydore as the key regional centre of the Sunshine Coast.
It’s a framework to guide the city’s growth and has seen new investment and infrastructure become part of the landscape to meet the challenges of the rising population tide.
A core strategy of the Principal Activity Centre plan was the Council’s $42 million acquisition of the Horton Park Golf Club, early in 2012.
The purchase of Horton Park paved the way to create a forward thinking commercial, retail and public space adjacent to Sunshine Plaza.
Stage 1A of the SunCentral Project commenced February 2016.
$3 BILLION SUNSHINE COAST UNIVERSITY HOSPITAL PRECINCT
The Sunshine Coast University Hospital (SCUH), the centrepiece of a new worldclass health precinct at Kawana, is just ten minutes drive from Emporio. The SCUH precinct is one of the largest greenfield integrated health care projects ever undertaken in Australia.
The campus style precinct will include:
- The $2 billion tertiary teaching hospital with 450 beds (to increase to 738 beds
in the future)
- 200 bed Ramsay Private Hospital
- The Skills, Academic and Research Centre
- 5,000 student TAFE facility
- The Health Innovation Park
For at least the next five years, the precinct will generate an average capital expenditure of a staggering $1.5 million per day. When complete, the SCUH will inject an estimated $700 million annually into the regional economy.
The total precinct will generate 22,000 permanent jobs and more than 12,000
construction jobs. The public hospital alone will generate 3,500 jobs, and the private hospital will create 700 full time jobs from late 2013.
Source: Sunshine Coast University Hospital Resolution research
SUNSHINE COAST AIRPORT EXPANSION
Sunshine Coast Airport is a critical and growing transport infrastructure hub, supporting both the tourism and the business sector, and is located just five minutes north of Emporio.
The proposed project includes:
- A new 2,450m long x 45 m wide main Code E runway aligned to the north-west/south-east (RWY 13/31)
- Two end taxiway loops and navigation aids
- Expansion of the apron at the existing terminal
- A combined new Air Traffic Control (ATC) tower and Aviation Rescue and Fire Fighting (ARFF) station, access road and utilities.
- Contribution of $4.1 billion to Gross Regional Product between 2020 and 2040
- Generation of 1,538 direct and 693 indirect full time jobs by 2040
- Supporting of the ongoing development of the Sunshine Coast.
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