This article is from the Australian Property Journal archive
A SUNSHINE Coast development site earmarked for a $350 million integrated lifestyle resort and water park has been put up for sale again.
The 25-hectare property at 2652 Steve Irwin Way in Glenview is less than 10 minutes down the road from Australia Zoo and Aussie World, and is being offered with approval for the staged delivery of a masterplan consisting of 234 villas and apartments, water park, surf pool, food, retail outlets and a sports club.
After going to the market early in the year, Knight Frank agents Christian Sandstrom, Blake Goddard and Chris Sales have the listing this time around.
The site is being offered for sale in one line or two separate parcels. Lot 1 spans 14 hectares and approved for 160 resort villas, retail space and water attractions, while Lot 2 measures 11 hectares and is approved for 74 resort apartments, a water tourist attractions, water park and surf pool.
Plans have been in the works since 2015, when Nurrowin Pty Ltd, linked with developer Sanad Capital, acquired the property for $4.1 million. Receivers and managers were appointed to Nurrowin – which reportedly debts believed to be of at least $10 million – late last year, a few months after Sunshine Coast Council approved a development permit for operational works.
That had followed Sanad Capital going to court over Sunshine Coast Council’s infrastructure charges and fees, and the developer launching an appeal against the Council’s approval of another surf park at Glass House Mountains, which has ultimately dismissed.
Goddard said the property offered buyers with a truly unique opportunity to secure a significant land holding with masterplan approvals in a key location of the Sunshine Coast with enormous potential.
“2652 Steve Irwin Way is a trophy asset opportunity to create a once in a generation legacy project not seen since the creation of its famous neighbour Australia Zoo down the way,” he said.
“The site is engineered with operational works and shovel ready.
“The successful purchaser can realise the maximum potential of the development approvals or alternatively develop a region-shaping product under the site’s flexible Masterplan.
The current masterplan is valid until April 2030, and there is the potential to change the plan with the exception of having to deliver a preliminary tourist attraction.
Flexible future development outcomes on the balance of the site could include retail and co-living accommodation,.
The Steve Irwin Way site is positioned at the gateway to the Sunshine Coast, with over 500 metres of frontage to one of the region’s major arterial roads, giving is exposure to around eight million passing vehicles each year.
“This is a prime opportunity to purchase a prominent site in a huge growth area of south east Queensland and build a landmark development,” Goddard said.
“Now is the time to be capitalising on a legacy opportunity like this, with the property perfectly positioned to benefit from the growth leading up to the 2032 Brisbane Olympic Games.”
The offers to purchase campaign closes on Friday, November 29th.
