Townsville Bulletin - - NEWS -

A PRIZED beach­front de­vel­op­ment site at Horse­shoe Bay, Mag­netic Is­land, has no tak­ers yet but it is ex­pected to ap­peal to cashed- up in­vestors, par­tic­u­larly in Asia, look­ing for tourism op­por­tu­ni­ties in North Queens­land.

The 2.45ha site is be­ing mar­keted by Graeme Rus­sell, of Ray White Com­mer­cial Townsville, and Alex Strens, of Best of Mag­netic.

Mr Rus­sell said Ray White had been tar­get­ing the Asian mar­ket and us­ing its China desk in Syd­ney.

“It’s an in­ter­est­ing site. A lot of peo­ple have been look­ing at the prop­erty via web­sites, but in terms of in­quiries it has been quiet,” he said.

The prop­erty is lo­cated on an un­formed sec­tion of the main wa­ter­front road sys­tem with ve­hi­cle ac­cess via Swensen and Gof­ford streets from Horse­shoe Bay Rd.

It is near Horse­shoe Bay’s tourist strip shop­ping cen­tre, bars, restau­rants and wa­ter sports fa­cil­i­ties.

The prop­erty has a 230m frontage with pedes­trian ac­cess to the beach.

The site has de­vel­op­ment ap­proval for a 56- unit re­sort or apart­ment com­plex and could also suit an ex­clu­sive pri­vate res­i­dence or gated hous­ing es­tate. It is mostly sur­rounded by bush­land. Mr Rus­sell said the land was zoned ru­ral. “I sus­pect that at some time in the past it would have been a pineap­ple farm,” he said.

ASIAN TAR­GET: An aerial view of the beach­front de­vel­op­ment site at Horse­shoe Bay.

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