The 12 Apostles Hot Springs and Resort development opportunity has been sold via a highly competitive international Expressions of Interest Campaign undertaken by Julian White and Chao Zhang of Stonebridge Property Group, and Andrew Jolliffe and Andrew Jackson from HTL Property.
The Purchaser is Sheargold, a Sydney-based multi-disciplinary Property company specialising in major residential development projects. Sheargold was selected as the preferred purchaser based on its reputation and previous regional development experience.
The Vendor is a Melbourne-based property consortium, who are delighted with the outcome after it obtained the permits for the proposed development and confirmed the presence of thermal hot water almost 1000m below the surface of the ground.
Stonebridge Property Group National Partner Julian White said of the transaction, “the 12 Apostles is the most visited regional tourism destination in Australia, however, there is a severe lack of accommodation or associated leisure activities close by. The market recognised this, with a highly competitive campaign that saw over 250 enquiries from local, interstate and international markets, keen to explore the opportunity.”
HTL Property Group Director Andrew Jolliffe said “An amalgam of the immigration boom and tightening of geopolitical tension in other regions speaks to an irreplaceability of sorts for world class domestic tourism assets. The 12 Apostles opportunity mirrors that investor magnetism, and the footfall of sophisticated enquiry underwrites the project’s prosperity.”
The global wellness industry has emerged as one of the fastest-growing sectors since COVID-19, and recorded a market value of USD$4.4 trillion in 2020, with the industry set to reach USD$7 trillion by 2025.
Managing Director of Sheargold, Michael Sheargold said “This acquisition represents an exciting opportunity for our organisation and team in a globally growing industry, expanding into a new geographical market and sector. I’m confident our experience of over 60 years developing great projects across the residential, industrial and commercial sectors, along with our deep understanding of what it takes to deliver major regional projects, will stand us in good stead for the delivery of the 12 Apostles Hot Springs and Resort.”
Sheargold have already started building the project team and Principal Steven Toia from project architect Genton, who are also the architect on Sydney’s new Powerhouse Museum in Parramatta added, “The 12 Apostles carved from the mainland’s limestone cliffs, are one of Australia’s great natural icons. We see our design reflecting this impressive Australian landscape, inspired by this very special place along the Australian coast”.