Oceanside - The new pulse on the Sunshine Coast

Oceanside Kawana is the new name for the central Kawana region that Stockland is helping to transform into an estimated $5 billion world-class destination for the Sunshine Coast.

The new regional identity will encompass around 100 hectares of land in the heart of the coast, taking in Birtinya, Bokarina Beach and the future Town Centre. It will also include a Learning and Transit precint and a Commercial precinct.

At the heart of Oceanside Kawana will be the multi-billion dollar Health Hub and Kawana Health Campus – a vibrant 24/7 precinct that will become one of the most vital health and medical research districts anywhere in Australia.

The vision for Oceanside Kawana is to create a whole new way of living for the coast, where homes, shopping, entertainment, business, health services, tourism and jobs all co-exist in a single location that also happens to be a postcard sun, sand and surf setting.

Its creation will feature one of the largest infrastructure projects ever undertaken on the coast with new roads, bridges, parks and services on a massive scale. The total economic benefit during the development of Oceanside is forecast to top $5.3 billion over the next 15 years and generate more than 3000 jobs per annum during the development phase*.

On completion, the new heart of the Sunshine Coast is expected to create approximately 12,000 ongoing jobs and contribute $828 million annually to the local and state economy.*

 www.oceansideawana.com.au 

New blow for our hospital as UQ pulls out of partnership

Richard Bruinsma

Sunshine Coast Daily 22nd February 2013

THE University of Queensland has withdrawn from an agreement to provide medical school services at a $60.8 million health training centre at the new Sunshine Coast University Hospital.

The state's premier tertiary institution had formed a partnership two years ago with the University of the Sunshine Coast and TAFE Sunshine Coast to establish a Skills, Academic and Research Centre at the new hospital.

That partnership has been reduced to two, and no longer includes the UQ.

"THE role of the medical school provider was originally planned to be undertaken by the University of Queensland," Sunshine Coast Hospital and Health Service chief executive Kevin Hegarty said yesterday.

"However, UQ has recently confirmed that its current position and focus precludes it from participating in the SARC."

The University of Queensland was unable yesterday to provide clarification of the exact reasons for its withdrawal.

The three-way collaboration was announced by then deputy premier and minister for health Paul Lucas in January, 2011.

The parties were to share the planning and fit-out of the SARC, while also splitting the operational costs.

It was to open about the same time as the $2 billion USC Hospital in 2016 and would enable the training of 1300 health professionals annually.

It was also noted in 2011 that training health professionals locally would more than likely result in a considerable proportion choosing to remain on the Sunshine Coast after graduation, in line with trends identified at other training institutions.

Mr Hegarty said the search for a replacement health school provider would begin next month.

"UQ's withdrawal from the SARC has created the opportunity for an established medical school provider to work collaboratively with the other foundation members to deliver the vision for SARC and a market-sounding process will commence in March in this regard," he said.

Sunshine Coast Mayor Mark Jamieson remained upbeat about the training facility.

"There's little doubt UQ's loss will be someone else's gain," he said.

"It's a really great opportunity for another university to become part of this project, which is the biggest investment in the region's history."

Mr Hegarty said the SARC remained an integral part of the Kawana health campus.

"The SARC's dedicated and integrated research and learning spaces will provide opportunities for health professionals to participate in teaching, research and clinical practice in one convenient location," he said.

"It is planned to be delivered as a partnership between the Sunshine Coast Hospital and Health Service and leading providers of tertiary education, skills training and research, including the University of the Sunshine Coast and the Sunshine Coast Institute of TAFE.

"USC, TAFE and SCHHS are the current foundation members and have reached agreement on the terms of this partnership."

Developer's major sale

Sunshine Coast Daily Saturday 23rd February 2013

By Bill Hoffman

STOCKLAND will dump its interest in five major Sunshine Coast development projects as the company shifts its portfolio focus out of residential except for large scale master planned communities.

The move comes nine years after it paid nearly $1 billion to Lensworth for its property portfolio, the jewel in the crown of which was the Crown Development Lease at Kawana.

Stockland paid well above competing offers, attracted by location and the lease conditions that contained no holding costs but saw it pay 10% of the sale price of each lot as titles were registered.

Industry sources said the sell-off represented a very significant shift in the company's direction both on the Sunshine Coast and more broadly.

In all 13 residential developments will be sold nationally.

They include 24 lots in the Kawana Town Centre, the 364 lots at Birtinya (oceanside), 291 lots at Bokarina Beach (oceanside) and a further 126 lots at Doonella (Noosa).

Stockland will also offload its Lake Kawana oceanside superlot that had been earmarked for 250 residential units.

In its February results presentation to investors and the stock market, Stockland's group executive and CEO residential development Mark Hunter said the company had identified the 13 projects as suited for wholesale disposal.

The assets would cost half a billion dollars to develop out and have combined impairments of $234 million.

The company says the sell off would have limited impact on future earnings because most of the projects were impaired or had low margins.

Mr Hunter said yesterday that Stockland had undertaken a detailed review of its residential portfolio.

"Our strategy hasn't changed since 2009, when we announced that we would focus on key growth corridors, developing master planned communities, where possible, to achieve economies of scale and offer a wider variety of products and community amenity,'' he said.

"We continue to develop vibrant, sustainable residential communities around Australia and on the Sunshine Coast."

Sources say big question marks remained over Caloundra South with the controversial satellite city requiring such a massive amount of capital for infrastructure that it could take seven to eight years to become cash flow positive.

However Mr Hunter said the development remained a "key project" for Stockland.

He said Bells Reach, the early release stage of Caloundra South was already proving very popular.

"Together other nearby projects such as Brightwater, we'll be contributing to this precinct and the economic prosperity of the Sunshine Coast for many years to come,'' Mr Hunter said.

Despite the shift away from residential projects the company has been in the Planning and Environment Court all this week appealing council's refusal of its application to develop its flood-prone Twin Waters West land holding north of the Maroochy River Bridge, into a 900-lot subdivision.

Sources said the motivation was a desire to build value into the property before a sale.

Sunshine Coast Council representatives will meet with Stockland and the State Government in Brisbane on Saturday for ongoing talks about the developer's infrastructure obligations for the 50,000 population Caloundra South development.