$10 million business park taps into strong industrial demand

Cooroy Business Park has tapped into strong demand for industrial space on the Sunshine Coast’s booming north with buyers securing more than half of the debut release well ahead of construction being completed.

Investors and owner-occupiers looking to get a foothold in one of the fastest-growing townships in the Noosa region have snared 20 of the 39 units offered in the first stage of the $10 million project. 

Cooroy Business Park, which is being undertaken HM Developments, is backed by Sunshine Coast property pioneers the Henzell family and heralds a new era for the local commercial-industrial market. 

HM Developments, established by Mclean Henzell and Ben Murphy, has created a five-stage masterplan for the 7ha site that will include a range of commercial facilities including a service station and fast-food outlet.

Cooroy Business Park is located on a high-profile site at 5 Taylor Court adjacent to the Bruce Highway along the southern entry to the Cooroy township, just 20km west of Noosa Heads. Construction began early last year and will be completed next month.

Featuring innovative architectural design features, Cooroy Business Park has been purposely created to appeal to a broad range of new businesses looking to locate in the rapidly growing region. The project will include a new shared outdoor recreation area for staff and visitors in a fully landscaped environment.

Mr Henzell, whose family were the visionary developers of the Pelican Waters community near Caloundra, said demand for Cooroy Business Park units has been solid among buyers looking for quality industrial space in the northern Sunshine Coast region.

“Inquiries we’ve received indicate a pent-up demand for this type of development which offers the best possible exposure and easy access to the highway,” said Mr Henzell.

“Cooroy Business Park has been designed to appeal to a broad market which is why we have taken an innovative design approach to this project.

“It’s created a lot of interest among new and existing businesses in the area and we’re seeing that interest pick up significantly as we edge closer to completion.”

Units in Cooroy Business Park range in size from about 65sqm to 151sqm, although they can be amalgamated to create larger spaces. Mezzanines are approved for most of the tenancies and each unit is fitted with a quality kitchenette and bathroom facilities with shower. There is off-street parking for 60 vehicles.

With Mr Henzell and Mr Murphy at the helm, HM Developments has more than 35 years’ combined experience in the real estate, development and construction industry. The company is highly active in the Sunshine Coast market targeting boutique residential and industrial developments.

HM Developments’ flagship project is the $200 million Cove at Pelican Waters, an upmarket lifestyle precinct comprising four residential towers in an exclusive waterfront enclave in the heart of Pelican Waters.

The Cove is currently awaiting development approval and is set to deliver 220 residences once completed in 2025, making it the largest private development on the Sunshine Coast.

The experienced Sunshine Coast-based developers are also responsible for the Banksia on Baden Powell project in Maroochydore, which offers 15 two and three-bedroom apartments, and the soon-to-be released Salt on Taylor luxury townhouse project, situated in the burgeoning Golden Beach.