Gardner Vaughan builds on development pipeline with $19m site acquisition in Caloundra

The 5,289sqm site, located in Caloundra’s CBD, carries an approval for a mixed-use development comprising 104 residential apartments, a 125-bed hotel, and approximately 2,976sqm of retail and commercial space.

However, Gardner Vaughan has lodged an amendment to the original development application to remove the hotel component.

The proposed twin-tower development, to be named Eden, is being repositioned as a residential development with a mix of one-bedroom to four-bedroom apartments while retaining the ground-floor retail component.

Gardner Vaughan says development of the site, which straddles 1–9 Bulcock Street and 45–47 Bombala Terrace, marks the company’s debut project for Caloundra.

Eden Caloundra is designed to target owner-occupiers and investors with the apartment offering complemented by premium amenities. The company says the project has already secured “significant interest” from potential buyers through an early registration process.

"As our fourth development in the region, Eden will increase our strong connection to the Sunshine Coast community,” says Gardner Vaughan Group commercial director Sam Gardner.

“The project reflects our ongoing commitment to creating well-considered, quality homes in highly desirable locations, and we’re excited to bring this vision to life in Caloundra.

“We only commence projects when we are fully committed, a philosophy that is reflected in our 100 per cent completion rate.

“This dedication ensures that every project we undertake is thoughtfully planned and successfully delivered. We take our opportunities seriously and follow through on our commitments not only to our buyers, who place their trust in us to create exceptional homes, but also to the communities in which we operate.”

Gardner Vaughan acquired the Caloundra development site from a private syndicate based in South-East Queensland in a competitive expressions of interest campaign undertaken by Colliers. The agency says the campaign attracted more than 210 enquiries and seven formal offers.

“The strong demand for housing and accommodation in the Sunshine Coast region drew intense interest from local and national developers,” says Colliers Queensland residential director Brendan Hogan.

“This was a particularly rare site as it is located in an established area close to beaches, shops, cafes and entertainment at the top end of Caloundra’s CBD but also offered an elevated site, offering potential ocean and mountain views.

“The opportunity to deliver a blend of resort-style accommodation, residential dwellings, as well as commercial and retail amenity presented a compelling vision for the area.”

Gardner Vaughan Group currently has three projects under construction including the twin-tower Bask development at Bokarina further north of Caloundra.

Bask joins One.Redcliffe at Redcliffe and Danby Lane at Nundah in the greater Brisbane area among the projects Gardner Vaughan has under construction and follows the recent completion of Estilo on the Park at Chermside. Previous Sunshine Coast projects undertaken by the group comprise Zinc and Revive Oceanside.

“This transaction reflects the continued strength of the Sunshine Coast market and the high level of interest for premium development opportunities in lifestyle destinations such as Caloundra,” says Colliers special projects manager Baydn Dodds.

“Caloundra is renowned for its coastal charm, walkable amenity, and strong tourism appeal, making it one of Queensland’s most supply-constrained and in-demand markets.

“The site is strategically positioned with sweeping views, exceptional amenity, and the benefit of an existing approval that spans residential, tourism, and commercial use making it an ideal addition to Gardner Vaughan Group’s pipeline.”

Gardner Vaughan plans to officially launch Eden to the market in September with construction expected to start in January next year.