Tropic of Paradise development site hits the market

25 May 2022

The Tropic of Capricorn passes through iconic towns like Alice Springs, Longreach and Rockhampton and exits over the Great Keppel Islands. Locals say it is where The Great Australian Outback meets The Great Barrier Reef or as they refer to it “Beef and Reef”.

A spectacular elevated double beachfront development site on the Southern Great Barrier Reef has been listed for sale with leading agency Savills.

Located at Tanby Point just south of Yeppoon, the 33,000 sqm Capricorn Sands development site boasts panoramic views of the Great Keppel Island group. The Capricorn Coast is being touted as “the new Byron Bay” with the area a mere 30-minute drive from Rockhampton Airport, and a 40- minute plane flight from Brisbane.

Great Keppel Island is only a short boat trip from the nearby Marina and provides multiple sandy beaches. The news that Australia’s richest person, Gina Rinehart, has made a move on the island, applying for the transfer of leases from the Queensland government to build an approved billion-dollar world class tourism destination in time for the Brisbane Olympics has turbo charged interest in the area.

The development site is DA approved for 201 residential dwellings together with commercial and hospitality areas of over 3,000 sqm, including an unrestricted Commercial Hotel liquor license.

Alternatively, the DA has potential to be amended for a beachfront residential subdivision.

Capricorn Sands has raised the registered interest of leading hotel accommodation brands such as Accor and others enjoying the booming regional drive market since state borders have reopened.

Savills expects strong interest from owner-operators in the hospitality industry, together with median joint venture and syndicated developers focused on the dynamic growth of Queensland beachfront real estate.

Savills Queensland Directors, Gregory Woods and Daniel Pepper say the site boasts significant development potential.

“The business case for Capricorn Sands is compelling with its year-round temperate climate and a unique approval for a mix of commercial, tourism and residential development. The site certainly lends itself to further concept development input for a possible increase in site coverage,” said Mr. Woods.

“The critical attraction to the Capricorn Coast is its underwritten strength represented by the same strategic Military benefits and importance that apply only to Cairns and Townsville together with a State significant regional economy underpinned by Agriculture-Energy-Mining-Engineering- Health care and Education Mr Pepper stated”

The site location provides a premium lifestyle with Golf, Marina, Sailing and two scenic beaches on the doorstep, and with all power, water, and high-speed internet in place, the development site is ‘shovel ready’ with the design lending itself to an easy staged construction over four separate accommodation buildings.

Capricorn Coast’s regional population is over 270,00 and forecast to grow over 350,000 by 2036, providing an enormous 24/7 year-round customer base the majority of whom reside within some 30 minutes’ drive.

Expressions of Interest to purchase Capricorn Sands will close 22 June 2022.