Sunshine Coast Farmland Sold for $93.5 Million Amid Development Plans

A 39-hectare farm in Maroochydore, Sunshine Coast, has been sold for $93.5 million to QM Properties. The land was owned by Peter Wise, a pioneering farmer who died suddenly last year. The site had prior approval for up to 570 dwellings, including retirement living, homes, townhouses, and apartments. Wise's family had placed the land on the market following his passing and the sale will secure their financial future.

A 39-hectare farm in Maroochydore, Sunshine Coast, has been sold for $93.5 million to QM Properties. The land, known as Wises Farm, was owned by Peter Wise, a pioneering farmer who died suddenly last year. The sale is a significant milestone for the Wise family, securing their financial future and marking the end of an era for the historic farm.

Wises Farm, which has been on the market since 2022, was sold to QM Properties, a privately owned property development company. The property, located just eight minutes from the beach at Mooloolaba, is bordered by Wises Road and the Sunshine Motorway. The site had prior approval in place to build up to 570 dwellings, including retirement living, traditional homes on residential blocks, townhouses, and apartments [1].

Peter Wise, an eighth-generation farmer, was known for his dedication to sustainable farming and his influence on the development of Maroochydore's CBD. He had previously run a pick-your-own-fruit agritourism attraction on the land where Maroochy Boulevard and Harvey Norman Homemaker Centre are now located. Wise's legacy includes his commitment to properly planning for growth on the Sunshine Coast [1].

The sale of Wises Farm comes at a time when the Sunshine Coast is experiencing increased demand for housing, particularly in coastal towns. According to a recent report, the Sunshine Coast has double the proportion of Airbnb listings compared to the national average, with 3.2 per cent of its housing stock listed on the platform [2]. This trend is contributing to rental affordability issues and increasing pressure on local housing markets.

The Wise family is continuing the tradition of growing Buderim gold coffee on another property on the mountain using trees passed down by their ancestors. The family has honored Mr. Wise with a final fig harvest using instructions scribbled in three notebooks left by him. Ms. Ivy Wise, his wife of 59 years, has stated that her family's support has helped her adapt to life without her husband [1].

The sale of Wises Farm is a significant transaction in the Australian property market, highlighting the growing demand for land in coastal regions. As the population continues to grow and more people seek to live in coastal areas, the pressure on housing supply is likely to increase, making investments in such properties increasingly attractive.

References:
[1] https://www.abc.net.au/news/2025-08-01/wises-farm-in-the-heart-of-maroochydore-sells-for-93-million/105601034
[2] https://www.smh.com.au/property/news/the-coastal-towns-with-the-most-homes-listed-on-airbnb-20250731-p5mjb0.html