Resort airstrip hits market for $1.5m
PETER Huang, owner of the Ramada Resort Kooralbyn Valley, has decided to asset strip around the resort – literally.
The Brisbane real estate agency principal has put the resort’s airstrip, once a landing point for polo-playing tycoon the late Kerry Packer, on the market.
Mr Huang is seeking $1.5 million for the 1.4km long strip, which was built in 1974, with a terminal added two years later.
The strip has just undergone a $300,000 resurfacing.
Mr Huang said the strip could take planes that would seat up to 30 people. “It would be good for skydive, scenic flight or flying school operators.”
A commercial operator at one point ran a business from the Kooralbyn airstrip and during the 1980s billionaire Mr Packer arrived at it by helicopter for polo tournaments.
Mr Huang, who owns Yong Realty, also is looking to sell other “unused extra assets” at the resort.
They include two polo fields at $1.5 million each and the property leased to the Kooralbyn International School, at $6 million.
Also on the market, at $2 million, is a half-completed snow-ski facility started by the resort’s previous owner, New Zealander Ray Schofield.
“The golf course and school are not for sale,” said Mr Huang.
“The course has just been ranked No. 1 resort course in Queensland by Golf Australia.”
Mr Huang bought the resort from receivers in 2014 and undertook a $10 millionplus renovation of the 101room hotel before reopening the property in 2016.
He has just completed a renovation of the resort’s original accommodation lodge, naming the 36-room building Packer Lodge.