A large tourist-zoned site in the Byron Bay hinterland with two development approvals attached and existing income stream offers broad appeal.
The Hinterland Retreat on 33.9ha has hit the market for about $10 million, and is predicted to have broad buyer appeal, not least because it’s forecast to be valued up to $25 million once the final stages are completed.
In place now are seven buildings and 15 accommodation rooms operating as a boutique wellness retreat in the idyllic northern NSW rural setting.
Ray White Byron Bay’s Michael Cudgeon said it was extremely rare to find a property for sale with any approval in place, let alone at this level. “The seller is motivated, and with a price guide of $10 million, there is significant scope for the new owner to achieve big returns.”
Ray White Corporate head of research Vanessa Rader said the size of the landholding and its premium location would be enticing for domestic and international investors.
Meanwhile, the development potential would appeal to “domestic developers looking to capitalise on the tourism trend in this location, particularly wellness tourism”, Rader said.
The property has broad appeal and will suit wellness or eco-tourism developers/operators or builders/developers, with uses including residential accommodation, Wellness tourism, Events/weddings, restaurant/cafe (STCA), rehabilitation.
On completion this property is thought to be the largest rural tourist facility in Byron Shire.
The information memorandum accompanying the sales campaign says the property features three distinct development stages that are separate, yet potentially interconnected via walking tracks.
The Stage 1 Hinterland Retreat is built and operational; Coolamon Boutique Hotel and Cabins is approved and ready to build; and Stage 3 Skyline Boutique Hotel is approved and ready to build.
“This gives the purchaser immediate return, no approval risk, minimal holding costs and operating flexibility to run these separately or as one large facility depending on demand/use,” the sales brochure says.
“The ability to purchase a property with existing infrastructure in place along with ready to build development approvals in the Byron property market which is experiencing supply issues is second to none.”
For more details and images, please visit: https://www.colliers.com.au/en-au/properties/eco-tourism-development-opportunity/aus-nsw/aus66018108
Contact the agent for further information.
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