THE iconic Kooralbyn Valley Resort is back on the market.
The reported asking price is $68m.
“We have had four deals over the past two years however all of the buyers struggled to get the right funding in place due to the impacts of Covid,” said the resort’s owner Peter Huang.
With the international border open, the resort has being signed up as the satellite Olympic village for Brisbane 2032.
The 130-bed resort would be expanded into a 1200bed facility for the 2032 Olympics to cater for water sports competitions that will be held in the area.
With that, Mr Huang is confident he will find the right buyer.
The Scenic Rim has been ranked as one of the top 10 holiday hotspots in the world for 2022 by the travel bible Lonely Planet.
The resort sits on 327 ha or 808 acres within emerging community zoning with over 30 existing buildings after tens of million dollars of cash injection for renovation, operations and further acquisition of the neighbouring properties.
The property is situated in the Golden Triangle location between Brisbane and Gold Coast surrounded by famous mountains and lakes in South East Queensland.
The Kooralbyn Resort is a world-famous and popular international tourism and golf destination. It was once the hideaway for the rich and famous including Kerry Packer who regularly played polo at the resort.
It is a potentially $500m-$2b development project depending on the master plan and funding.
According to the previous CBRE agent’s advice, the replacement value of the existing properties is well over $200 million, but the owner is selling at a fraction of the replacement value.