Queensland resort

Kerry Packer’s favourite resort goes on sale

PHOTO: The main resort includes 102 rooms and as well as a restaurant and wedding centre

  • Estate agent Peter Huang picked up the 1980s resort from receivers in 2014
  • Spent more than $10 million on renovations to make it operational again
  • Now looking to sell for a special COVID-19 price of $60 million
  • The resort includes a private airstrip, golf course and mountain bike course

A huge Queensland resort – once favoured as a Queensland getaway by mogul Kerry Packer – is up for sale at a ‘limited time COVID-19 special price’ of $60 million.

Real estate agent Peter Huang is the owner of the Ramada Resort Kooralbyn Valley, a 3700-acre masterplanned community in the Gold Coast Hinterland, with its own airstrip, golf course and polo fields.

Huang first tried to sell the property in 2017 but is now offering a COVID-19 discount on the $104 million retail price for a ‘cash unconditional term’.

‘It’s unlikely you will get a loan from any banks now and you should not borrow, like Harry Trigubuff (sic), therefore completely eliminate your risk,’ he continued.

The main 102-room resort was built in the 1980s by the Japanese Towa group on land owned by Sydney entrepreneurs Sir Peter Abeles and Arthur George.

The more exclusive 30-room Packer Lodge was built later and became a regular Queensland bolthole of the man it was named after, who visited the resort to utilise its two championship polo fields.

Kerry Packer often visited the Kooralbyn resort because of its championship polo fields

Kerry Packer often visited the Kooralbyn resort because of its championship polo fields

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