Two separate Noosa properties sell for more than $6M

TWO separate Noosa properties owned by the same vendor have sold separately for a combined total of more than $6M, at 48-59 Kabi Road (pictured above) and 404 Kinmond Creek Road (pictured below), both in the suburb of Cootharaba.

Kabi Noosa had been developed as an organic golf course and orchard on a vision to create the world’s first fully certified organic facility of its kind.

404 Kinmond Creek Road, known as ‘The 404’, was originally purchased to support the Kabi operations and had been run with certified organic status for a number of years.

The assets were marketed and sold by Ray White Commercial Noosa and Sunshine Coast North trio Louisa Blennerhassett, Paul Butler and Paul Forrest.

Ms Blennerhassett said the properties were taken to market with a commercial focus, understanding that the buyer for the properties would be an astute commercial operator, either as a venue/functions centre or operational rural property.

“Marketing for the properties comprised an extensive targeted campaign, specifically designed to attract overseas and interstate buyers, as we were conscious the local market had been saturated over previous years,” she said.

“Kabi improvements include an organic fruit operation, functions/restaurant space, golf course and cleared farming land. The 404 included 163ha* of prime agricultural country, with vast pasture improvements, sheds and a two-storey home.

“After being on the market unsuccessfully with other agents for three years, both properties were under contract within 10 weeks of taking them to the market.”

Mr Butler said buyer enquiry for both the properties was diverse, ranging from interstate, overseas and locally.

“We had a really wide range of enquiry for the Kabi Golf course in particular – from high net worth individuals looking for a private oasis, through to commercial operators, golfing enthusiasts and local business people,” he said.

“One of the key successes in the sale of both properties was in the understanding of their commerciality, rather than looking through a rural or residential lens.

“As these large holdings continue to grow in land value, we find that owners are looking at multiple income streams across the properties to make them commercially viable.

“No matter who the buyer is, they are seeking some commercial benefit to the purchase. We had to go through the process of finding the highest and best use for the properties with the buyers, to enable the best outcome for our client.”

Mr Forrest said the sale process also generated a lot of interest in the organic practices that had been maintained at both properties over a number of years.

“I think this points to a real focus in growing organic commercial operations, and the fact that Noosa is recognised across the country and internationally for its focus on environment and sustainability,” he said.

“The buyer for Kabi is an overseas businessman, with ties to Australia. He was attracted to the property for its rich history and story of pioneering organic golf course operations. He hopes to continue the original vision for the property.

“The buyer for Kinmond Creek Road are a farming family from Western Queensland. They were especially attracted to the fact that the property had previously been run as an organic operation.”

*Approximately.