Bilinga army resort site sells for $11.5m
By ED SOUTHORN
THE old Malaraba holiday resort site on the south side of Gold Coast Airport has been sold for a whopping $11.5 million.
A Sydney-based developer bought the 2.83-hectare plot from the RSL Queensland War Veterans Homes and is planning a mixed-use redevelopment, possibly including a hotel and with a commercial component.
Airport general managerDennis Chant yesterday said at this stage he was unaware of any proposed redevelopment for the site, but hoped it would not add to traffic congestion and was compatible with the airport precinct.
"It does have fairly restricted access," Mr Chant said.
Estate agency Colliers International handled the tender sale, which attracted 12 bidders and more than 100 inquiries.
Colliers spokesman Jeff Dolan said: "It was one of the most highly sought properties that we have seen in recent years due to its exposure, prime position and potential to accommodate a number of uses subject to Gold Coast City Council approval."
He said redevelopment of the site, which opened in 1960 as an army personnel holiday resort and closed in 2004, would be compatible with the airport.
"This is a never-to-be-repeated development opportunity adjacent to the fastest growing regional airport in Australia."
Gold Coast Airport is undergoing a major expansion and is set to welcome its first truly international flight, non-stop from Tokyo, in June.
The runway has been extended from 2042 metres to 2500 metres, enabling direct routes from Japan and other proposed destinations including China, the Middle East, India, Singapore, Taiwan and Korea.