$30m beachfront tourism project hits the market
A PLANNED beachfront development touted as the "perfect launch pad" for a Southern Great Barrier Reef experience is on the market.
The 12.14ha Rules Beach residential caravan park and resort development is for sale with Knight Frank, with a 15-year planning approval for the tourism project, near Baffle Creek and about two hours from Gladstone.
There are 15 beachfront house lots that have been subdivided and an approved plan for 42 holiday villas to be developed as lease or freehold.
There is also an approved development application for a "world class" 95-site caravan park, which includes cabins and glamping tents.
Knight Frank principal Ron English said the sale was not just aimed at developers, with potential to sell single beach-front housing blocks too.
He said while the expressions of interest sale campaign had a slow start, they now have two interested developers from southern states.
"If people want an affordable beach front block I would suggest making an inquiry too ... you walk out the front and you're walking down the beach, you can't do that too many other places in Queensland for an affordable price tag," he said.
Mr English said the approved development application was a major draw card for developers interested in capturing the grey nomad market.
Some project work has already been completed, including the main entrance and power and water connections.
The development application was originally lodged by Tareeda Group's John Callahan, who had envisioned the tourism development for more than 15 years.
Mr Callahan purchased the land in 2001 for $960,000.
The $30 million project was given the green light by the Gladstone Regional Council in December 2015.
After 14 years of planning, the project was officially launched in September 2016, when works started on dividing the housing lots.
A display home was built in December 2017 by Gladstone's G and D Lawrie Builders, with the aim of showing potential buyers what they could be investing in.
The home is being used as tourism accommodation.