News

Stockwell pulls pin on Civic

Noosa Civic developer Mark Stockwell.
Noosa Civic developer Mark Stockwell.

AFTER 12 frustrating years of doing business in Noosa, developer Mark Stockwell is selling his flagship shopping centre for reportedly more than $200 million to concentrate on staging the Commonwealth Games.

Mr Stockwell has confirmed the Noosa Civic has been bought up by the government-owned Queensland Investment Corp, which has an investment portfolio worth more than $63 billion.

The sale comes less than two years after the Sunshine Coast council's refusal of an application for a major stage-three retail expansion - to make room for a Myer centre - on the grounds the amount of additional retail shopping space is against the Noosa Plan.

His company, Stockwell Development, eventually dropped its legal challenge to the decision, but Mr Stockwell has not ruled out a high-end department store coming to Noosa provided the community got right behind the proposal.

"We've entered a contract with QIC. That contract's unconditional," said Mr Stockwell, adding the sale should be settled in a few weeks.

"We've been out for the last 18 months looking for a venture partner to go with us (for further centre development) and in the end QIC put an offer to us along the lines of them taking the whole property."

Although Mr Stockwell refused to reveal the sales price, he indicated QIC would be looking at further business investment at Noosa Civic.

"QIC have not expressed to me (what they will do with the Civic), but I've known them for a long time and they will no doubt have some plans for the centre's future development," he said. And so they should, because that's the role. Whoever is the owner of that land has a responsibility under the planning scheme to deliver on its promise to the community.

"It's fairly well documented - we've got a role up there to have the highest order business, retail and commercial (sector) there and delivering on the planning scheme's vision," he said.

"Nothing comes easy in Noosa and we have got major businesses and tenants who want to come into the areas and that no doubt will have a significant impact on people's lives.

"We were preparing to look at what was going happen with the de-amalgamation, and then looking after the court case to preparing a new application to lodge, which was on the basis there would be no Myer involved.

"There would have to be overwhelming community support for anything (like Myer) to happen, because without that it won't."

A spokeswoman for QIC Global Real Estate said the group was unable to provide any comment at this time. "In terms of our general strategy, however, the Group is actively managing its portfolio and constantly monitoring opportunities in the market," she said.

Topics:  mark stockwell, noosa, noosa civic, shopping centre


Join the Community.

Get your local news, your way.

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

MOTHER’S Day is coming up this weekend, and mum Bette

Mum Bette Hickox will experience her third Mother's Day as a mum to twins Bee Blossom and Tilly Tiger, as well as with her two-year-old daughter Willow Pearl.

MOTHER’S Day is coming up this weekend.

Report delivers double the bang for Noosa

Noosa's economy could be in for amajor convention and arts boost in the future.

Noosa may onde day be in for a 1000 seat convention centre.

Restoring Peregian eyesore

The Peregian roadside was in urgent need of rehab.

Peregian Beach community rehabilitates a roadside eyesore

Latest deals and offers

Bravehearted Mel taking the 777 challenge

Eumundi girl Mel is running seven marathons in seven states in seven days for Bravehearts, an organisation that protects Aussie kids from sexual assault.

MOTHER’S Day is coming up this weekend, and mum Bette

Mum Bette Hickox will experience her third Mother's Day as a mum to twins Bee Blossom and Tilly Tiger, as well as with her two-year-old daughter Willow Pearl.

MOTHER’S Day is coming up this weekend.

Report delivers double the bang for Noosa

Noosa's economy could be in for amajor convention and arts boost in the future.

Noosa may onde day be in for a 1000 seat convention centre.

Restoring Peregian eyesore

The Peregian roadside was in urgent need of rehab.

Peregian Beach community rehabilitates a roadside eyesore

Budget seen as business boost

CCIQ Noosa head Peter Chenoweth - likes small business tax breaks in the federal budget.

Local business generally welcomes the federal budget.

Posy to brighten someone’s day

The Posy Cart Noosa is a new online business venture for Helen Mondino.

little things that usually mean the most in life

Federal Police Defuse Dance Bomb

Australian Federal Police respond to "threat" in Canberra.

Australian Federal Police respond to "threat" in Canberra.

Claire St Jacques leaves court

Claire Rhiannon St Jacques, 37, leaves Maroochydore Court House after being sentenced for assaulting a security guard.

Claire Rhiannon St Jacques, 37, leaves Maroochydore Court House after pleading...

NSW Police join Dance Challenge

NSW Police show their moves at Manly Wharf.

Manly Wharf is the backdrop to NSW Police running-man dance entry.

Jail for real estate boss

Noosaville real estate agent boss will spend 14 months in jail

Demand for acreage lots pushes up property prices

Property values in Cooroy have increased 25%

Property values jump in Cooroy and Peachester.

How a sacked real estate agent made $725k in four months

Agent is now under investigation by the industry watchdog