Why Birtinya's newest off the plan apartment development St Clair stacks up for investors
Sunshine Coast developer Habitat's recently launched apartment development, St Clair in Birtinya, is attracting both local and interstate investor interest due to the robust infrastructure pipeline in the area and anticipated population boom in population in the Sunshine Coast region.
Birtinya, which neighbours Bokarina and Wurtulla, will become a main attraction for the Sunshine Coast and have significant transport links as part of the government's $10 billion infrastructure pipeline.
The government's light rail project, connecting the Maroochydore CBD with Caloundra, will pass through Birtinya and the $3.2 billion, 37-kilometre rail extension between Beerwah & Maroochydore.
Further infrastructure upgrades in the region include the Sunshine Coast Airport expansion of the 5.6-hectare greenfield Maroochydore CBD, which will contribute $4.4 billion to the economy, and the $3.2 billion investment in the Sunshine Coast Health Precinct.
All of the infrastructure—the expansion of the Sunshine Coast Airport, the light and heavy rail extension project, solar farm, submarine cables, injection on the Sunshine Coast health precinct, and a new USC University campus—will create over 100,000 jobs for the region which is already booming more than some of Australia's capital cities.
The GDP of the Sunshine Coast is $24 billion a year, which surpasses Adelaide's, Canberra's, and Darwin's GDP. Sunshine Coast's economic growth is expected to reach $33 billion by 2033.
Sunshine Coast has evolved beyond its initial small-town status, indicating significant potential for growth and an attractive investment opportunity.
The transformation into a larger city, coupled with unprecedented factors, is expected to lead to a substantial economic expansion, potentially more than doubling in size within the next 15 years.
Despite the positive outlook, challenges such as record-low unemployment and persistent population growth highlight an increasing demand for housing on the Sunshine Coast. These challenges are further intensified by a growing shortage of available dwellings, creating a critical opportunity for astute investors to capitalise on the favourable conditions anticipated.
According to Bis Oxford Economics, solid population growth, combined with supply-side challenges, is expected to result in the undersupply of dwellings on the Sunshine Coast rising from 3,900 dwellings in FY2023 to approximately 4,800 dwellings in FY2027.
Investors at St Clair, two adjoining buildings on the water, can expect to secure tenants anywhere between $600 to $680 a week for the two-bedroom apartments, which would reflect a rental yield of around four per cent. They start from $749,900.
The three-bedroom apartments, priced from $869,900, could see yields at comfortably over four per cent if they secured a tenant at the lower end of the $700 to $900 a week forecast. At closer to $900 a week, that yield jumps to nearly 5.5 per cent.
The $150 million development, KArchitecture-designed St Clair, on two side-by-side blocks on Waterfront Retreat, will comprise two eight-level residential towers with 200 two, three and four-bedroom apartments.
There will be a maximum of 13 apartments on each level. Some large penthouse apartments will have over 50 sqm of outdoor space, while a handful of courtyard apartments will have around 90 metres of gardens.
A 25-metre resort-style lap pool is on the ground level, featuring a five-metre shallow wading entry adjacent to a BBQ pavilion. A residents' 16-seat dining room with a private outdoor terrace complements the pool for social gatherings.
Crowning St Clair is a communal rooftop terrace enveloped by lush subtropical landscaping by Place Design Group, with an outdoor kitchen and BBQ facilities. The rooftop deck faces Bokarina Beach towards the east, while the lounge overlooks the hinterland to the west.
Additional amenities and services include an outdoor beach shower, dog wash facilities, parcel locker storage, and professional property management.
Builder developer Habitat, who are currently building The Corso in Maroochydore where they are also seeing significant interest from Sydney investors, has fast tracked construction due to strong sales.
Habitat Construction is estimating completion of St Clair in Q1 2026.
