Noosa resort back on market
THE world's largest commercial real estate service has put the Noosa Head's Seahaven Resort back on the market.
The CBRE Group has been appointed as the exclusive selling agent for the Hastings St beachfront property - which is expected to generate international interest from developers, hoteliers and strata dealers.
Offers to purchase the property close March 29 through CBRE Hotels regional director Rob Cross and CBRE Sunshine Coast managing director Rem Rafter.
The sales campaign follows a previous agreement that fell through in 2010.
Blue Sky Capital was lined up to purchase the property, and had development approval to turn it into Noosa's first beachfront development in more than a decade, but the parties could not reach an agreement on a settlement figure.
The site of the proposed Firstlight Noosa development was agreed in the first half of 2008 - before the global financial crisis - at $120 million.
Two years later the price was too high, Blue Sky Capital director James Walker said at the time.
"The fact that a development approval has been achieved is expected to give impetus to the new sale campaign, establishing a level of certainty in regard to what can be achieved on the site," CBRE Hotels regional director Rob Cross said.
"Whilst the property is likely to be bought for its residential value, it may also be the only site in Australia that could substantiate a six-star hotel/resort."
CBRE Sunshine Coast managing director Rem Rafter said Seahaven Resort boasted a successful trading history over three decades under single ownership.
"The complex provides above average accommodation, however, with moderate capital expenditure we believe this resort could easily be improved to provide one of the highest standards of accommodation on Hastings Street," he said.
Seahaven Resort
48 x one- and two-bedroom units (66 keys)
12 retail tenancies (including two restaurants fronting Hastings St)
Ground floor reception/front office
Basement car parking for 77 vehicles
Site area of 4722sq m
