Brisbane has been announced as the winning bid for the 2032 Olympics and outside of the USA, Australia is the first country to host the games 3 times. While the main athletes' village will be built at Hamilton, today it was announcement is that there will also be a few smaller villages on the Gold Coast, Sunshine Coast and at Kooralbyn, near the rowing venue - Wyaralong Dam. With potentially more accommodation being built on-site, it’s great news for Kooralbyn, the Scenic Rim, Brisbane, Queensland and Australia!
The iconic Kooralbyn integrated resort was just put back on the market on 15 July 2021, after the third mutually agreed contract failed to eventuate over the past few months due to the Covid drama for the buyers to get the right funding in place on time. The once in a lifetime Olympic Village plan will certainly boost the local economy and confidence of any future buyer for its incredible international exposure and massive government capital investment to the local economy.
The resort sits on 327ha (808 acres) within emerging community zoning. It encompasses over 30 existing buildings after enjoying millions of dollars of cash injection for renovations, operations and further acquisition of the neighbouring properties.
The Property is situated in the Golden Triangle, wedged between Brisbane and the Gold Coast, surrounded by famous mountains, lakes, and homes to over 3 million residents in South East Qld. The Kooralbyn Resort is a world-famous and popular international tourism and golf destination, a hideaway for the rich and famous like Kerry Packer who was regularly playing polo on the resorts 2 polo fields.
It’s potentially a $500m-$2b development project depending on the master plan and funding. According to the previous CBRE agent's advice, the replacement value of the existing properties is well over $200 million, but the owner is selling at a fraction of the replacement value so he can pursue his new venture of a global premium clothing brand called BESTT.
He has recently acquired one of Australia's longest established clothing manufacturers called The Australian Coat Company, with its Claybourn Oilskins product established over 111 years ago, in year 1910. The clothing business contract has now gone unconditional.