Controversial five-star hillside resort site hits market
An eight-hectare hillside site earmarked for the $100 million Badderam Eco Luxe Resort and Spa has hit the market.
Sunshine Coast
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AN EIGHT-hectare hillside site earmarked for the $100 million Badderam Eco Luxe Resort and Spa in Box St, Buderim, has hit the market.
21-24 Box St was put up for sale earlier this week, with Savills Brisbane agent Tim Packman and Savills Resorts sales agent Max Cooper tasked with marketing the property.
An expressions of interest process is being carried out, with expressions due by October 30.
Mr Packman said they'd already fielded a few inquiries on the property, citing "pretty good interest" in the opportunity.
"The DA is fairly specific," Mr Packman said.
"It's pretty special up there."
Sunshine Coast Council granted approval for the controversial development last year, which included a 111-suite resort and restaurants, targeting the high-end, international markets.
The property was being marketed as an approved, five-star luxury resort on 4ha of land, which included 94 dual-key apartments (188 lettable keys) as well as the Aquila Retreat on the adjoining 4ha property.
The ad also noted the adjoining property had approval for a seven-lot subdivision.
Approval for the subdivision expired in 2016 and Mr Cooper said it would have to be revived by the prospective buyers.
Mr Cooper said there was scope to stage the project to reduce the initial costs for buyers.
"There's different ways you could develop the scheme," he said.
"It wouldn't be unusual.
"There's quite a bit of potential there development-wise."
He said the dual-key concept was pretty widely used in Queensland, New South Wales and Victoria, as it gave resort operators flexibility, but there was also scope to stick with larger, two-bedroom suites.
"We're expecting certainly Queensland and national interest, plus some international interest," Mr Cooper said.
"International parties are looking for sites around the country, and looking for something unique, which we think this is."
Badderam proponents Heidi Meyer and Kim Carroll had initially proposed a 125-suite eco resort and spa, but it was scaled down slightly prior to its final approval.
In mid-July the pair lodged an application for a four-year extension to their approval, which was due to expire on June 29, 2020.
Last month consultants advised council that application would be withdrawn and council confirmed it had been withdrawn on October 1, along with an application to vary the infrastructure agreement.
Ms Meyer and Mr Carroll had been seeking investment of $100 million to create their dream resort.
Division Seven Sunshine Coast Councillor Ted Hungerford said the proponents had sought a four-year extension of the currency period of their development approval and had then withdrawn it.
"They need to meet certain conditions by December 29," Cr Hungerford said.
"Whoever buys it would have to meet those conditions. Putting the land on the market is an interesting move.
"I'm not sure what's going on."
The Daily has attempted to contact Ms Meyer.
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