$50 million plus for beach resort at Margaret River
A beach resort spanning 69,000 sqm in WA's Margeret River is on the market with expectations of more than $10 million.
The Gnarabup Beach Resort, five sites with direct Indian Ocean frontage and approvals in place for a 102-key resort and potential for a further 73 individual villa sis on the market through Savills Barney Dear and Chas Moore.
Chas Moore said the site was being offered for sale by its joint venture owners with Development Approvals for the resort, designed by Grounds Kent Architects, had been granted.
This property is coming to the market at an ideal time, with the Western Australia State Government prioritising and strongly promoting the state’s tourism sector, and the $59.7 million expansion of the Bussellton-Margaret River Regional Airport to deliver invaluable direct flights to the region, he said.
"Tourism is on the rise in Western Australia and this is one of the best beachfront resort developments available in the entire state.
"It provides a stunning south-west setting overlooking the Indian Ocean, with boardwalks and footpaths leading directly to the beach, in the heart of Western Australia’s premier tourism destination and widely recognised as one of the world’s best wine producing regions.’"
