After a mutually agreed cash unconditional contract has been sitting in a Qld based buyer's solicitors' office for over one month, the owner Peter Huang decided to pull the plug. Now that the borders to other states, except Victoria have opened, Mr. Huang has put the resort back on the market.
The resort sits on 327 ha or 808 acres within emerging community zoning on 27 lots over 30 buildings after tens of million dollars of cash injection for renovation and further acquisition of the neighbouring properties.
The Property is situated in the Golden Triangle location between Brisbane and Gold Coast surrounded by famous mountains, lakes, and home to over 3 million residents. The Kooralbyn Resort is a world-famous and popular international tourist and golf destination.
A potentially $500m-$2b project depending on the master plan and funding. Based on the previous CBRE agent's advice, the replacement value is well over $200 million.
The 102 Room Main Resort building is the largest rammed-earth eco-construction in the southern hemisphere. The property also includes an award-winning pool complex, 230 seat restaurant, 240 seat convention centre, the "Pavilion" Tavern and the recently renovated 30 room Packer Lodge where Kerry Packer used to stay.
The tavern is a popular dining destination for guests, golfers, and locals with TAB, Keno & Foxtel with Pokies coming soon.
The Private airport has a 1.4km resurfaced runway ideal for drag racing, skydiving, scenic flights, and flying school, etc.
The Championship golf course ranked #24 in Australia with Greg Norman as its previous tour pro and is the home course of the world No.1 Adam Scott and Jason Day.
The 2 polo/equestrian/rodeo fields were Kerry Packer's favourite playground.
The Championship Mountain Biking Park could potentially host the Olympic competition if Brisbane won the bid.
The International School building produced 2 young Australians of the year: Cathy Freeman and Scott Hocknell plus much more.
The owner is also getting the Caravan Park/RV Park/Camping Ground/Aussie Muster Farm Showground relocated to be within walking distance to the main resort.
The owner has allowed the previous DA for stage 1 subdivision to lapse and is now in the planning stage for 1000 - 2000 over 50s retirement village.
"The resort is close to Australia's largest inland port - Bromelton, where potentially 35,000 jobs will be created as per the state government plan to further boost the resort and golf business, its development profit, and capital gain", Mr. Huang said
"Compared with the recent sales of the 25 room Beach Hotel Resort for $104m, the 145 room Vibe Darling Harbour for $108m or the penthouse of One Barangaroo Sydney for $140m, this integrated resort with so much more potential for business and development profit on top of the capital gain, will be sold for substantially less taking into the consideration the current COVID 19 market", Mr. Huang said.
As the founder and CEO of Yong Real Estate, the owner is marketing the property himself with his son Harvey Huang, the General Manager of Yong.
For Media Enquiries, Please Contact Peter Huang on 0418 888 889.