25-hectare property on sale after owners called in administrators
By Kirra Livingstone
A MULTIMILLION-dollar hinterland property formerly earmarked for a $350 million tourism resort and wave park has hit the market.
The 25-hectare block at 2652 Steve Irwin Way, Glenview, was formerly placed for sale three days ago by real estate agent, Colliers.
A spokesperson for Colliers would not comment on the sale, however it is being sold following external administrators being appointed to Nurrowin Pty Ltd, which bought the property for $4.1 million in late 2015.
Buyers have until March 7 to lodge expressions of interest, according to an information memorandum, which adds that approvals for the wave park and tourist centre, developed by Nurrowin and subsidiary Sanad Capital, remain in place for buyers.
They include the staged delivery of a water park & wave pool, 160 dwellings and 74 villas (as part of a resort development), and retail and food and beverage outlets.
“The approved development proposal offers developers and operators an ideal opportunity to capitalise on substantial forecast future population and tourism growth numbers for the region,” the memorandum states.
“(The property) is ideally positioned on 25.18 hectares of mainly level and cleared land, with over 500 metres of frontage to Steve Irwin Way, one of the Sunshine Coast’s major arterial roads. The property is situated 9.0 kilometres north of Australia Zoo, 18.0 kilometres west of Mooloolaba Beach, 30 kilometres south west of the Sunshine Coast Airport, 59 kilometres south west of Noosa and 96 kilometres north of the Brisbane CBD.”
“2652 Steve Irwin Way is located within 100 kilometres of a population catchment of 1.3 million, in addition to the 3.2 million interstate and international tourists visiting the Sunshine Coast each year.”
The project had faced significant delays, including Sanad’s challenge of council infrastructure fees and an appeal against the council’s approval of a rival surf park development east of the Bruce Highway at Glass House Mountains.
That appeal was ultimately dismissed at the hearing, with Sanad saying they were “cracking on” with their project.
