Receivers' sale for Peppers Airlie Beach Resort, QLD

The Peppers Airlie Beach resort in North Queensland is on the market through an expressions of interest closing Thursday 20 October with price estimations between $15 million and $17 million, according to reports.

The resort, 9A Hermitage Drive Airlie Beach offering includes 56 self-contained freehold strata titled 1, 2 & 3 bedroom apartments and 3 x 4 & 5 bedroom villas with ocean views.

The receivership sale will be handled by CBRE Hotels and PRD Nationwide Airlie Beach on behalf of McGrathNicol.

Features of the property include Management Letting rights business for up to 106 apartments in the complex, resort facilities such as infinity swimming pool, gymnasium and Endota Spa.

CBRE agent Wayne Bunz said there was already significant interest in the area, pointing to the recent sale of Club Croc, Daydream Island and South Molle Island. 

"We have been inundated with enquiries for leisure assets of late, particularly from mainland China," he said. 

"Investors are looking to enter key leisure markets and capitalise on their potential for future growth, particularly in light of the softening Australian dollar, which is creating favourable market conditions for the local tourism market."

The $80 million resort was developed in 2009 by Josh Thompson's Latitude Development Group, which was placed in the hands of receivers McGrathNicol in March, according to the Australian Financial Review.