Qld Coastal Sites Sold

Queensland Coastal Sites Sell for $8.1M

Strategic land holdings on the Queensland coast with potential for master planned estates have been sold separately by Ray White Special Projects Queensland for a total of $8.1 million.

Both the sites were sold by Ray White Special Projects Queensland Directors Mark Creevey and Tony Williams on behalf of the Receivers and Managers Philip Campbell-Wilson and Justin Walsh of Ernst & Young.

Mr Creevey said the 299ha Keppel Views Estate at Yeppoon was sold to a private development company based in South East Queensland with local interests for $5 million.

“This is a potential master planned development opportunity in a prime coastal location just five minutes from the Yeppoon Town Centre,” he said.

“There’s existing approval for 176 lots over seven stages with the balance land area providing scope for a master planned land estate.”

Mr Williams said a 212ha beachfront site near Hervey Bay was sold to a private national development company for $3.1 million.

“The site is situated in Dundowran Beach only 6km from the centre of Hervey Bay,” he said.

“There’s approximately 1.8km of direct beachfront access and development applications for the site had previously been lodged.”

Mr Creevey said the Formal Offers to Purchase campaigns for both properties, which had been owned by North Queensland-based development group Santalucia, attracted solid interest.

“There was reasonable enquiry generated across Queensland including SEQ and the regional centres as well as significant interest from interstate for both of the assets,” he said.

Another property in the Santalucia portfolio - a 255ha site at Rasmussen in Townsville – is on the market with offers above $3.95 million being sought.