Major waterfront resort and development land to test the Sunshine Coast market

​Sydney, 29 September 2014 – One of the most significant resort and land offerings on the Sunshine Coast is coming to the market.

The Maroochy Waterfront Resort comprises a 64 room motel backing onto a natural forest reserve, 20 holiday cottages, 23 relocatable homes, a freehold lagoon and 33 hectares of DA approved development land, of which 50% can be permanent residential housing.

The property is owned by the Humzy family and managed by Phil Humzy, a significant developer in his own right. His father, Allen, built the resort in the early 1980s to appeal to the budget conscious family traveler.

Today, the resort attracts a range of visitors, including families, sporting groups and school camps, all drawn to the comfortable atmosphere, north-facing beach and sizeable lagoon offering an array of watersports.

Centrally located just five minutes from Maroochydore CBD and stunning beaches, the property is set to attract a diverse buyer audience via an Offers to Purchase Campaign, led by Andrew Jackson from CBRE, Rob Keam from Elite Lifestyle Properties and Peter Ward from Ward Commercial.

Mr Jackson said the development land is a substantial parcel, which is DA approved for an integrated tourism resort in the style of a Manufactured Home Estate.

“This is a significant DA and will be the largest sale of its type on the Sunshine Coast for many years. The fact that it combines a freehold going concern motel plus other leased accommodation precincts, which can offer a holding income while the other land is developed, as well as an uncommon freehold lagoon, will make it an interesting prospect to a range of buyers,” Mr Jackson said.

Mr Ward said the Sunshine Coast is experiencing major change, with population growth to over 500,000 residents in the next ten years. Maroochydore is at the centre of this significant increase in activity, with a major multi-billion dollar redevelopment currently underway of the new Maroochydore town centre which will be developed on a site of around 60 hectares covering Council land including the Horton Park Golf course site plus State government land.

“The resort is only five minutes from what will be the biggest municipal development on the coast. It is also close to four golf courses within a five km radius, including the well-known old Horton Park Golf Course which is currently being relocated from central Maroochydore to Bli Bli to allow the new Town Centre to be developed,” Mr Ward said.

“Additionally, the Maroochy River is easily accessed from the property and flows directly to the ocean from the resort’s own private lagoon.”

Mr Keam said that the location of the resort, as well as the land would be the key selling attractions.

“The resort is located midway between Caloundra and Noosa Heads, with an extremely central location close to Sunshine Coast airport, beaches and road links. There is a real shortage of land in the area, with the appetite for development land extraordinarily strong at the moment,” Mr Keam said.

Offers to Purchase close 13th November.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue).  The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.