A Queensland development company has beat overseas and interstate competition to secure the Tweed Coast site currently home to Australia’s premier glamping resort.
The Hideaway holding at 2-6 Tweed Coast Road, Cabarita sold for ‘circa $5 million’ – the biggest sale the seaside village has seen in a decade.
The Hideaway site at 2-6 Tweed Coast Road, Cabarita Beach has sold for ‘circa $5 million’.
The sale brings a reprieve of sorts for The Hideaway following community fears for the future of the resort and possible development of the site.
“It’s been bought by a Brisbane-based civil contract company for circa $5 million,” said Nick Witheriff of LJ Hooker – Kingscliff.
“They have got a view to keep the business going as it is for now and then look at an alternative for potential development of the site down the track.”
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The Cabarita Beach site is zoned for development or subdivision.
Located between the Gold Coast and Byron Bay, the 2.803ha parcel is the only development land remaining on the eastern side of Tweed Coast Road and is R3-zoned for a unit or townhouse development or land subdivision.
Mr Witheriff said the beachside holding attracted strong interstate and overseas interest.
“There were six written offers, with three rounds of negotiations to get the best and final offer,” he said.
“Offers came from Sydney, Melbourne, New Zealand, Brisbane, a local government entity and a local party.”
The Hideaway will continue to operate as a glamping resort for now.
Formerly home to the Cabarita Beach Caravan Park, the site was purchased by a syndicate of investors in 2018 before reopening as an outdoor hotel at the start of last year.
The idyllic seaside resort has received rave reviews worldwide for its spacious bell tents with all the modern trimmings and luxe bohemian decor.
News of the sale raised concerns within the Cabarita community who led a campaign to keep the land in local hands.
“There was a lot of anxiety from local community groups,” Mr Witheriff said.
“There’s been a lot of discussion around how locals might somehow retain the site to avoid future development.”
The existing infrastructure and amenities were included in the sale, due to settle on September 23, with the resort having resumed trade last month when COVID-19 restrictions were eased.
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