The owner of the 132-room Kooralbyn Valley has announced the resort is once again up for sale as border "openings and regional growth boost investor interest in the area".
The resort has been on and off the market several times since it reopened in 2016, most recently last year, soon after a state government plan to consider the facility for use as a COVID-19 quarantine centre caused outrage among Kooralbyn residents.
Resort owner Peter Huang of the Yong Group said he closed the initial listing in mid 2020 after local cash buyers failed to meet expectations.
Mr Huang said the resort included 327-hectare-808 acre-site with 27 existing lots and 30 existing buildings.
He said the resort had a potential end value of "between $500 million to $2 billion" depending on the masterplan.
"The Packer Lodge was built by Peter Ables and Arthur Georges and the 102-room main resort was built by Japanese owner Towa Group in 1980 for about $45 million including land," he said.
"The resort was used as a hideaway for billionaire Kerry Packer in the '80s."
Also read: Kooralbyn Resort sale settles
Also read: Kooralbyn resort off the market
Mr Huang said all properties on the site were up for sale, comparing it to the NSW Hunter Valley for ease of access to visitors.
"Like the Hunter Valley, the Kooralbyn Valley is an easy drive for the three million local residents from south-east Queensland and the large golf community, and remains a popular international tourist destination," he said.
Mr Huang said a stage one subdivision surrounding the golf course and resort was approved but he had allowed it to lapse due to a "new plan for a large scale over 50s retirement development".
He said the resort included a 230-seat restaurant, 240-seat convention centre, three outdoor wedding venues plus The Pavilion Tavern and a private airport and international school buildings.
"It's truly the one and only corporate asset in Australia ideal for potential public listing or as an addition to a successful investor or fund manager's existing portfolio," Mr Huang said.
Mr Huang said the selling price of the whole portfolio could be "much less than the recent sales of the 25-room Beach Hotel Resort at Byron Bay on 4,585sq m of land at $104 million, the 145-room Vibe Darling Harbour at $108 million and the 172 rooms Primus at $130 million".
He said the resort could generate better income from the multiple businesses of the resort including the golf course, tavern, international school and other assets.
"The resort] has far more development profit and potential ongoing income from the massive over-50s retirement masterplan with a lot of upside for capital gains as well," Mr Huang said.
"The eventual workforce from the nearby largest inland port of Australia-the Bromelton Estate could reach 35,000 jobs, according to the state government.".