LUXURY: The Botanica development will offer 16 apartments with Maroochy River frontage.
LUXURY: The Botanica development will offer 16 apartments with Maroochy River frontage. Contributed

Bigger units, fewer of them in luxury Coast pitch

MAKING the most of a riverfront location doesn't mean fitting as many units as possible, according to Botanica developer Grant Kennedy.

He and Nexus Development Group partner Laz Dzufer have a approval to build 16 apartments next to the Maroochy River and expect to start marketing them in about a month.

Their selling point will be their size, offering 312sq m apartments up to eight levels.

Expected to cost between $2 million and $3 million, the Maroochydore units will be at the luxury end of the market.

"It's extremely high (quality) finishes and extremely large apartments," Mr Kennedy said.

 

The Botanica development will offer 16 apartments with Maroochy River frontage at Maroochydore.
The Botanica development will offer 16 apartments with Maroochy River frontage at Maroochydore. Contributed

He said the project would borrow aspects of Mr Dzufer's current Mooloolaba project Tangalooma, which has apartments larger than 500sq m.

"It (Botanica) is a similar finish but on a smaller scale."

The former Duporth Avenue fishing hub Bill's Bait Bar, another building and an apartment block will be demolished when construction, expected to cost just less than $20 million, starts.

A time frame for that is yet to be set.

"We obviously need to get some pre-sale commitments."

Mr Kennedy said improving market conditions had prompted investment in the project.

"You wouldn't have done this in the past 15 years because the market just wasn't there."