Devcon buys Sunshine Coast’s former Sizzler site for new apartment development
Sunshine Coast-based Devcon Property Group has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.
The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.
Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.
“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside communities, offers for a broad range of development outcomes,” Kain said.
“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an outstanding development prospect. Our plans are to refurbish the existing building and then review development options for the remainder of the site.”
Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the Sunshine Coast’s development site market, particularly for projects capable of achieving water views.
“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said.
“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.
“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located mixed-use sites across the Sunshine Coast.”
Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the Sunshine Coast’s status as one of Australia’s most active development markets.
“The combination of strong population growth, lifestyle appeal, and infrastructure investment is driving demand for quality development opportunities,” Nick Dowling said.
“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, reflecting the strength of the region’s construction pipeline.
“Opportunities like this are rare and continue to generate strong buyer interest in the region.”
The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.
Joel Robinson
Joel Robinson is the Editor in Chief at Apartments.com.au, where he leads the editorial team and oversees the country’s most comprehensive news coverage dedicated to the off the plan property market. With more than a decade of experience in residential real estate journalism, Joel brings deep insight into Australia’s evolving development landscape.
He holds a degree in Business Management with a major in Journalism from Leeds Beckett University in the UK, and has developed a particular expertise in off the plan apartment space. Joel’s editorial lens spans the full lifecycle of a project—from site acquisition and planning approvals through to new launches, construction completions, and final sell-out—delivering trusted, buyer-focused content that supports informed decision-making across the property journey
