BAYSEAS LIFESTYLE RESORT

BAYSEAS LIFESTYLE RESORTShops + beaches + clubs + parks + transport

Situated right in the heart of Hervey Bay and adjacent to the “Centro Shopping Centre”, “BaySeas Lifestyle Resort” is perfectly positioned a few hundred meters from the cross roads of Main St and Boat Harbour Drive, the two major link roads in the city.

The Hervey Bay “Mobility Corridor”runs down the entire eastern boundary of the site and when complete will link the it with the new hospital to the west and the beach and pier only a few hundred metres to the east. The mobility corridor is specifically designed for bicycles, buggies and golf carts as well as being a pedestrian walkway.

The site provides direct access to Hervey Bays major shopping centre complex, “Centro Shopping Centre” (recently purchased by a major developer who intends to double the size of the centre on land acquired adjacent to the subject site) and a newly opened Aldi store. There is a large RSL situated a few hundred meters down Main St towards the beach.

A sort stroll down Main streets connects the site with the commercial heart of town including a major new Bunnings across the road and the location of the proposed new council chambers, civic centre and library etc.

BAYSEAS LIFESTYLE RESORTDevelopment Site Summary

The land is relatively level with slight undulations to provide some interest. There are approximately 6.2 hectares of developable land (7.5 gross incl the landscaped council reserve) which will enable a complex of up to 350 homes /apartments combinations plus a community centre with pool, court, putting green etc.

The current zone is Res A. The council will support an application for a retirement village and is likely to allow up to 3/4 storey construction (see planning reports in appendix).

The DA submitted is a combination of 114 single level duplex villas and 73 two storey townhouses. While this may be considered an under-development of the site, we have opted for this low risk scenario with the benefit of an established and growing market. This option has received very strong council support and is being assessed on 5 stages (with the option to complete multiple stages simultaneously). A full planning and engineering report (including Traffic, stormwater, acoustic, drainage, electricity, telephone, headworks etc) is available on request.

BAYSEAS LIFESTYLE RESORTHervey Bay Summary

• Centre of the Wide Bay Region

• Population currently in excess of 50,000

• Second fastest growing area in Australia

• Predicted population increase 194% from 2001 to 2030 (source B.Salt)

• Serviced by the major retailers

• Recently voted the happiest place to live in Australia

• Excellent sub tropical climate with Safe Beaches, Fraser Island, Ecotourism, Whale Watching, Superb Fishing

• Regarded as being at the forefront of retirement lifestyles in Australia

BAYSEAS LIFESTYLE RESORTProperty Site Details

Address: St Joseph Drive, Pialba, Hervey Bay QLD 4655

Description: Lot 4 on SP 177740

County: March

Parish: Urangan

Title Ref: 50566523

Site Area: 7.521 ha

Type: Vacant Freehold Land

Zoning: Res A (retirement villages allowable under code)

Title Encumbrances: Nil

BAYSEAS LIFESTYLE RESORTAerial Site View

BAYSEAS LIFESTYLE RESORTAerial Site View

BAYSEAS LIFESTYLE RESORTStormwater Drainage Reserve

Gross Area 7.521ha

Less Drainage Reserve 1.333ha

Developable Land 6.188ha

Negotiated drainage Easement

New Road by Council

BAYSEAS LIFESTYLE RESORTMain Drainage Diagram

Perhaps the most relevant comparative development is recent times is the Sea Change Lifestyle Living development on Elizabeth Street, Hervey Bay.

Comprising approx 119 dwellings (combination of single level duplex and two storey town houses) on 4 ha, this development enjoyed a record velocity of sales and an excellent reputation. Comments from residents and visitors is very positive with a recurring comment being “the development has a good feel”.

Re-sales experience is also very good. Together with the strong growth being experienced and forecast for Hervey Bay as well as the soon to be announced direct flights by Virgin Blue and Jetstar from Melbourne, market confidence and sales expectations are very high.

For comparative prices, please refer to the attached market analysis by Elders Real Estate.

BAYSEAS LIFESTYLE RESORTComparative Developments and Sales