Rare parcel of Horseshoe Bay land offered for sale
A rare 10-acre parcel of undeveloped freehold land on Magnetic Island has been put up for sale. Here’s what $1m could buy you.
Townsville
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An eco-retreat, rural residential subdivision or holding for investment have been suggested for a rare 4ha parcel of undeveloped freehold land on Magnetic Island.
The holding at 67-75 Swensen St, Horseshoe Bay, is being marketed exclusively by James Packer and Daniel Packer of Pascoe Commercial.
Offers of more than $1m are being sought for the land, which has been held in the same family for more than 35 years and backs on to the hills of Horseshoe Bay.
The seasonal Gorge Creek runs through the rear of the property.
“It is a unique proposition to find over 10 acres of freehold land on an island paradise and only 700m to a stunning bay that lends itself to many diverse uses, not least the concept of an eco-retreat,” Mr Pascoe said.
“Arguably one of the greatest advantages to this property is the variety of lifestyle options it offers — create and develop your dream home, potentially subdivide into one acre lots or perhaps start your own eco-retreat sharing with others or just invest for the future.”
Mr Pascoe said inquiries had come from local parties and interstate with the majority of interest coming from people looking for somewhere to enjoy family holidays while also looking for future capital growth opportunities.
The site has access to infrastructure including reticulated water and stormwater services, the local road network, electricity and telecommunications supply.
Subject to council approval, it can be subdivided into up to seven lots of 4000sq m.
According to the Magnetic Island Tourism Masterplan, the island supports more than 25 per cent of Townsville’s tourism jobs and injects more than $300m into the regional economy annually.
It says there has been significant investment into walking trails and roads and that current and forecasted tourism growth needs to be managed in a sustainable and environmentally considered way to retain the island’s natural, cultural and environmental values.
The holding fronts on Swensen and Gifford St.
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Originally published as Rare parcel of Horseshoe Bay land offered for sale
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