New investments mark turning point, signal green shoots: Nambour on the rise

Nambour Central has changed hands for $9.2 million.

By Cameron Outridge

Nambour is witnessing promising signs of growth, according to Mark Bray, President of the Nambour Chamber of Commerce. The town’s affordability and ongoing revitalisation initiatives were attracting new businesses and residents, contributing to its trajectory. 

Mr Bray said a notable advancement was the planned establishment of Queensland Hydro’s headquarters at 144 Currie Street (next door to the Fred Murray building), which follows the recent sale of the building for $4.5 million. 

This move is expected to open up new job opportunities and spur further economic activity in the area.  

The office will serve as the headquarters for the Lake Borumba mega hydro project, expected to create local employment opportunities and further investment in the region. Their five-year lease is anticipated to be just the beginning of their tenure in the town.

Mr Bray welcomed the influx of investment and praised the collective efforts of the business community, political advocates, and residents.  “The significant investment we’re seeing in Nambour is a testament to the hard work behind the scenes to attract investment and restore town pride. 

“We are excited for Nambour’s future and looking forward to continuing to help effect more change,” he said.

Interest in Nambour’s commercial real estate market is surging, with 144 Currie Street generating interest from 30 potential buyers before its sale. 

Nambour Central sells for $9.2 million

In addition, the Nambour Central shopping centre recently sold for $9.2 million, with plans to develop a medical hub, further boosting local employment. Boasting a 6,728sqm site, Nambour Central (not to be confused with Nambour Plaza) has been recently refurbished and is anchored by national tenants Pets Domain, Sunshine Coast Radiology, ANZ and Commonwealth Bank.

The previous Westpac Bank location also sold recently, offering another prime spot for future business operations. Investors are also eyeing 32-36 Lowe Street, home to the National Australia Bank, which will continue to occupy the ground floor for at least another year.

Managing Director at Colliers Sunshine Coast Nick Dowling highlighted the growing confidence in Nambour’s potential, reflecting the town’s upward trajectory after facing challenging market conditions in recent years.

“Over the last two decades, the  population of the Sunshine Coast has experienced a significant increase, growing by 65 percent to be over  413,000 residents in 2022. The trend towards remote work and lifestyle preferences, coupled with  housing affordability, has spurred significant migration to regional areas, positioning the Sunshine  Coast as a key beneficiary. 

“Nambour is currently experiencing robust growth, with its demographics evolving over the past  decade into a sought-after destination for young families seeking affordable housing on the  Sunshine Coast, thereby bolstering retail demand.”

Member for Nicklin Rob Skelton said hundreds of workers from Queensland Hydro were all set to move into 144 Currie Street.

“With Queensland Hydro having secured a 5-year lease on the building, this means more jobs for Nambour, boosting our local economy,” he said. “I’m proud to have advocated for this outcome for the last two years on behalf of the community, and I’m thankful the Miles Labor government is delivering for Nambour and the Sunshine Coast.”

• For more information on how your business can support the Nambour Chamber of Commerce, visit www.nambour.wavecrm.com.au.