​​Sunshine Coast’s Former Sizzler Site Sold for $12M to Devcon for Landmark Beachside Development ​

​The Sunshine Coast’s status as a national development hotspot continues following another major site transaction by Colliers

Sunshine Coast-based Devcon Property Group has acquired one of Maroochydore’s most prominent development sites for $12,000,000, unlocking the potential for a 37.5-metre high mixed-use project with sweeping ocean views in the sought-after Cotton Tree precinct. 

The 4,178sqm site at 41–43 Aerodrome Road—well known as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market Expressions of Interest campaign by Colliers’ Sunshine Coast experts Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property, which was sold on behalf of private owners. 

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,” Michael 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.” 

This transaction cements the Sunshine Coast’s status as a national development hotspot following several major site transactions handled by Colliers recently including, Lots 925 & 928 Southbank Parkway, Birtinya ($14.725M), 1–9 Bulcock Street, Caloundra ($19M), and 9 Onslow Street, Golden Beach ($10.775M). 

The property’s location offers direct access to Cotton Tree’s coastal lifestyle, with Maroochydore Beach, Alexandra Headland, and Mooloolaba all within minutes, and the Sunshine Coast Airport just a short drive away.  

Zoning for the site supports a wide range of uses including multiple dwellings, a resort complex, hotel, retail, office, food and beverage, and healthcare, providing significant flexibility for future development outcomes, subject to council approval.