The Kooralbyn Valley Resort for sale after owner Peter Huang lists it for the second time in a year
This sprawling Gold Coast Hinterland resort is a mooted 2032 Olympics venue, has a championship golf course, vineyard, half-built ski lodge and – if you have deep pockets – it could all be yours.
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THIS sprawling Gold Coast Hinterland resort is a mooted 2032 Olympics venue, has a championship golf course, vineyard, flower farm, a half-built ski lodge, mountain range and – if you have around $100 million cash – it could all be yours.
The Kooralbyn, known locally as Kooralbyn Valley Resort, is on the market for the second time in a year, after multiple negotiations with potential buyers floundered.
Owner Peter Huang said his mammoth 808-acre property has a potential end value of between $500 million to $2 billion depending on the masterplan – but he’s willing to negotiate a “limited time Covid special” for the right cash buyer.
He said the resort – which at one stage had plans for an outdoor ski field – would be a perfect venue to host the mountain biking if Brisbane’s 2032 Olympics bid was successful.
“We would be the best option, the president of the mountain biking club said there was no better venue,” Mr Huang said.
“All the athletes can stay here, it’s four-and-a-half-star accommodation.”
The property’s assets, which include a 102-room motel, 230-seat restaurant, resort pool, four wedding venues, farm animal feeding, polo and equestrian grounds, putt-putt, lawn bowls, tennis centre, four-wheel driving track and 30-room lodge, are for sale as a bundle, by joint venture or individually.
“We had two cash buyers and thought it was going to eventuate,” Mr Huang said.
“We had numerous buyers but a lot had conditions that we would not consider.
“We are still talking, but we didn’t want to wait any further.
“The market is getting close to pre-Covid levels.”
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Brisbane-based Mr Huang said international customers made up 60 per cent of the resort’s traditional clientele, a market which evaporated when the borders closed last January.
However, he said the local market was beginning to make up the lost ground and the resort was fully booked last weekend to host a vintage car drag racing meet on its airstrip – a feature that is also for sale.
Mr Huang, who also owns the Brisbane River Golf Course and plays a handicap of 27, said improvements to the resort had not stopped during the Covid crisis.
A new resort water park is due for completion in the next few weeks, while farm sheds for animal feeding were to be moved onto the grounds of the main resort as an added activity for guests.
The original 30-room Packer Lodge was built by Peter Ables and Arthur Georges and the 102-room main resort was built by Japanese owner Towa Group in 1980 for about $45 million including land. The resort was used as a hideaway for billionaire Kerry Packer in the 1980s.
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