The Pearl Resort, Emu Park, land for sale for the first time in 15 years

A Central Queensland coastal property recognisable to locals with its Balinese-style huts that were built and never finished, is now for sale and its idyllic location could see it fetch millions. See what’s on offer.

For the first time in 15 years, a prime piece of Capricorn Coast land already approved for development, is up for sale.

The property at Lot 5 Haven Road, Tanby Point, on the outskirts of Emu Park is iconic to locals.

A number of Balinese-style buildings were erected on the site years ago and were never finished and abandoned.

Central Queensland is no stranger to abandoned resorts - the popular Capricorn Resort just north of Yeppoon, owned by Iwasaki Sangyo Co, closed in 2016 and has remained abandoned since.

While the iconic Great Keppel Island Resort has been sitting empty and rundown since its doors were shut in 2008, and in June this year it was revealed Australia’s richest woman Gina Rinehart had abandoned her plans for the island resort there.

The real estate listing for Lot 5 Haven Road, Tanby Point, states the property is 3.37ha with 33,700sqm of “elevated beachfront land” with three-street frontage.

The site has development approval until 2028 with an unrestricted commercial hotel liquor licence covering the entire site and there is “registered interest from major accommodation hotel brands”.

The listing claims the area is a “hot eco-tourism area described as the new Byron Bay”.

It also makes reference to “multi billion dollar approval by the federal and state governments for a world class tourism resort on Great Keppel Island within the world heritage listed Great Barrier Reef which has helped to turbocharge interest in the Capricorn Coast.”

The property last sold in 2007 for $5.96 million to Moondaze Pty Ltd, with director Harry Nicol.

The Pearl Wellness Resort and Spa was approved in 2011, to feature 201 units with 333 bedrooms, commercial space, a 50-seat high-class restaurant, conference room, lounge bar, indoor sports facility and a health spa retreat.

Renders of the Pearl Wellness Resort and Spa from 2010.

Mr Nicol spoke to this publication in May 2021, after nearby residents had received a mail notice about the liquor licence application.

The application proposed trading hours from 10am to 12am, Monday to Sunday.

A “provisional” licence has since been issued.

In the interview last year, Mr Nicol said he had been in talks with hotel management companies like Hilton, Accor and Wyndham.

He said the reason the development had never got off the ground was because of the global financial crisis, economic downturn, the closure of the resort at Great Keppel Island and Covid-19.

He believed the Capricorn Coast economy was showing “good promising signs” and the economy was strong enough to start the project in the near future.

But nothing ever eventuated.

The real estate listing does not indicate a price.

The land valuation for the site, recorded in June 2022, is $1.05 million.