Homeowners Take Advantage of Town Plan Change
Home owners on the Sunshine Coast are taking advantage of town planning changes which have enabled them to rezone their residential properties for commercial use.
Ray White Commercial North Coast Central’s Emily Pendleton has just leased adjoining properties at Mooloolaba to commercial tenants after their owners rezoned their homes.
Emily Pendleton said the leasing of the former homes at 199 and 201 Brisbane Road, Mooloolaba, followed a recent letter box drop of residents in the area to advise them of the town planning changes and potential opportunities.
“We told residents that the release of the latest Sunshine Coast Town Plan resulted in an increase in residential houses in some pockets being rezoned for commercial use, be it office, retail or high density mixed use development,” she said.
“This development has coincided with an overall improvement in the market and increased consumer confidence.”
Emily Pendleton said as a result of the town planning changes there has been a solid increase in the number of buyers and tenants searching for residential-style properties suitable for a home business, owner-occupiers or investors.
She said 199 Brisbane Rd was an approximately 240 sqm two level property on a land area of 508 sqm that has now been leased by G & S Plumbing for $28,000 per annum, while the 400 sqm building next door has been leased by Mooloolaba Law for $35,000 per annum.
“These properties offered plenty of office space as well as sizeable onsite parking and were ideally located on a high exposure road close to a commercial precinct,” Ms Pendleton said.
“There are some strict compliance issues that need to be addressed before a residential house can be transitioned to a commercial use, regardless of the zoning.
“These are specific to each building and the intended use, but can include disabled access requirements, health and safety as well as car parking.
“But successfully rezoning a residential property for commercial purposes can increase its sale value or make it an attractive investment.”