Mosaic Makes Maroochydore Move
Mosaic Property Group has consolidated its $175 million expansion into the Sunshine Coast by opening an office in the heart of Maroochydore after securing the property through Ray White Commercial Noosa & Sunshine Coast North.
The Mosaic leasing deal in the 394 sqm tenancy at shops 1 & 2, 48-50 Duporth Avenue, Maroochydore, was negotiated by David C Smith of Ray White Commercial Noosa & Sunshine Coast North on behalf of a Melbourne-based investor.
Mr Smith said Mosaic snapped up the premises after just weeks on the market and it now plans to undertake a refurbishment of the property.
“The work being planned will transform the building into a modern office and enhance its street appeal,” Mr Smith said.
The property, developed by Sunshine Coast business identity Cliff Butt, formerly housed two tenancies, including a TAB.
“This Duporth Ave property comes with a very long history as it was the first telephone exchange and post office for the area,” said Mr Smith. “It was even a general store at one stage, so it’s great to see these premises now entering a new era.”
Mosaic Property Group Managing Director Brook Monahan said the establishment of the regional office reflected the company’s long-term commitment to the Sunshine Coast.
“It’s a logical step for Mosaic given our significant pipeline of projects in the region,” Mr Monahan said. “We want our local team of experts on the ground and operating efficiently and effectively from a well-resourced and easily accessible base.”
Mr Monahan said Mosaic’s existing and forthcoming projects across the region would pump almost $95 million into the Sunshine Coast economy.
Mosaic has taken out a three-year lease at net rental of $150,000 per annum.
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