New shops set for Coolum in bold expansion bid
Three new speciality stores and a gym could soon be added to a Coolum Beach shopping centre.
A development application has been submitted to Sunshine Coast Council for extensions to the Coolum Park Shopping Centre.
Project Urban submitted the application on behalf of Will Chains Investments Pty Ltd Tte.
The directors of which are a consortium based in Victoria.
The proposal is subject to impact assessment - meaning the community will be able to have their say on the proposal.
The current site at 21 South Coolum Rd is 18,850 sqm with an extension of 661sq m requested.
The increase in floor area is set to provide for three new specialty tenancies and a gymnasium.
Coolum Park Shopping Centre is already home to Woolworths, Australia Post and the Suncoast Medical Clinic.
In addition to the speciality stores and gym, a refurbishment and extension of an existing ATM bunker has been proposed at the northern end of the site.
The applicant noted in the proposal the extensions would reinforce the role of the Coolum Park Shopping Centre as part of a local full service centre and would not detract from the district centre of Coolum.
According to the report, the retail tenancies proposed expect to earn around $1.17 million in 2023, it's first full year of operation, climbing to about $1.23 million by 2026.
As a result of the extensions however, carparking at the site would be trimmed from 242 spaces to 229.