The 98ha site features a championship 18-hole, par-71 golf course, management rights for a 96-room resort and additional land with current planning approvals for up to 1,487 apartments.
The Expressions of Interest campaign for Paradise Palms closes March 2, 2018.
Mr Betros said; “Paradise Palms is the region’s most prestigious golf course and presents a lucrative opportunity for an incoming purchaser to develop the additional land over multiple stages. The opportunity is a blank canvas for any combination of resort, holiday apartment, retirement, hotel and or permanent living”.
Mr Halpin added; “Over $5 million in capital expenditure has been outlaid to improve the asset and it is now ready for an investor to take it to the next level and capitalise on the planning approvals, which encompass three major development precincts.”
Paradise Palms Golf & Country Club is located between Port Douglas and Cairns and is only a 20-minute drive from Cairns Airport.
The golf course is ranked in the top 50 public access courses in Australia by Golf Digest and is complemented by a major clubhouse and pro shop.
The design team of Graham Marsh and Ross Watson were commissioned to create the tropical destination golf resort for the former Japanese owners, Daikyo. It comprises
6,331 metres of sweeping fairways, 72 bunkers, three lakes and a series of creeks, with a World Heritage rainforest backdrop and stunning views of the surrounding mountains.
The associated resort comprises 46 one and two-bedroom, self-contained apartments in addition to a restaurant, bar, poolside kiosk, wedding and conference facilities, adventure playground, 18-hole mini golf course and 25 metre swimming pool.
Additionally, the site contains three development precincts for future residential development.
The sale plans have been announced amid surging investor interest in Queensland’s far north.
GA Group has been particularly active, having acquired the Port Douglas Marina with plans for a luxury 100-room hotel and residence and an expansion of the marina to accommodate super-yachts.
The group also recently acquired the Tradewinds Hotels Cairns and seven development sites through CBRE Hotels and committed to undertake circa $480 million in new development projects.
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