There is already strong evidence that the revitalisation of Caloundra’s CBD is helping to breathe new life into our much-loved beach town, where commercial activity is now approaching a five-year high.
According to Henzells’ Commercial Manager, Paul Bell, confidence is strong on the back of the CBD upgrade, demonstrated by high occupancy levels, an injection of new businesses and strong sales.
A vibrant streetscape project including tree planting, gardens, street furniture, shade features, interactive feature lighting, new footpaths and pedestrian crossings is part of wider plan for the CBD to create more interesting public spaces and diverse attractions.
March this year will see the commencement of stage three of the Bulcock Streetscape upgrade and drainage works carried out at Otranto Avenue.
“The general feel is one of optimism. Sellers are no longer hesitating, while investors and owner occupiers are out in force looking for that next opportunity,’’ Paul says.
“We are seeing a fresh injection of businesses from professional service providers to trendy new eateries and boutiques as well as the blue chip tenancies and national franchises.
“New freehold owners are making their mark with exciting new businesses and fresh ideas.’’
Office and retail space is at a premium with major commercial hubs including Caloundra City Centre and Sun City Centre, both in Bulcock Street, running at more than 90% occupancy.
Henzells Caloundra has also experienced a flow-on effect beyond Bulcock Street and the surrounding CBD, with industrial areas such as Caloundra West also experiencing increased commercial activity.
A boutique complex of 10 brand new industrial units still three months from completion at Exeter Way, Caloundra West, is already 40% sold.
“You wouldn’t have seen that four years ago,” says Paul.