A spectacular beachfront hotel development site has hit the market, in Queensland’s booming Capricorn Coast.
The area known as the Capricorn Coast lies roughly halfway between Bundaberg and Mackay, approximately 660 kilometres north of Brisbane, and only 30 minutes from Rockhampton airport, with daily commercial aircraft services by Qantas and Virgin.
The Tropic of Capricorn passes through a little to the north, and locals say the area is where ‘The great Australian outback meets The Great Barrier Reef’ or simply “Beef and Reef”.
Set on an elevated double beachfront location with panoramic views over the islands, the Capricorn Sands site is over 3.3-Ha (33,000sqm), covered by an unrestricted commercial hotel liquor licence.
Development potential comes in the form of an approved DA for a hotel, on 3,000sqm, and 201 residential dwellings, spanning around 24,000sqm, across four buildings.
There is already registered interest from major accommodation brands to operate the hotel rooms. The site enjoys good access to transport, as well as nearby golf courses, a marina, fishing, sailing and diving on some of the best unspoilt parts of the Great Barrier Reef.
And as per Queensland licence regulations, the asset has the potential for satellite bottleshops and gaming.
The area counts a regional population of more than 270k residents, which is projected to grow to over 350k by 2036, in an economy encompassing agriculture, mining, engineering, energy, tourism and laying claim to being one of Australia’s premier livestock producers.
Brisbane’s Courier Mail recently called the region ‘the new Byron Bay’ – underpinned by its massive $4.5bn Federal Government infrastructure plans, growing military presence and new $360m hospital.
Interest in the Capricorn Coast has been further turbo-charged by Gina Rinehart’s $1bn+ tourism resort development on Great Keppel Island, slated in time for the Brisbane Olympics.
“The huge amount of capital investment in search of coastal hospitality location opportunities knows no end,” suggests Savills’ Daniel Pepper, marketing the property.
“The opportunity and benefits of a new build allows a synergy between the two industries of hotel accommodation brands and traditional pub operators seeking to amalgamate and expand their profit centres.”
Colleague Gregory Woods describes the rebound in regional tourism being seen in coastal Queensland as “amazing”.
“The growth in the domestic drive market is unprecedented, and the Cap Coast is the closest and easiest way from the southern capitals to explore the Great Barrier Reef.”
The Capricorn Sands development site is being sold via Expressions of interest, closing Wednesday, 22 June.
