C A I R N S

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CBRE Hotels are proud to present for sale the Paradise Palms Golf & Country Club with additional land for multiple housing estate developments. This stunning asset is nestled between the World Heritage Listed Great Barrier Reef and Daintree Wet Tropics Rainforest. This is truly a spectacular destination at the gateway to these two iconic natural wonders.

These iconic natural features attract and draw domestic and international guests from around the world with direct flights. The region is supported by tourism infrastructure and easily accessible due to the international and domestic connections afforded by Cairns Airport.

This sales offering includes the opportunity to acquire the following assets:

• The regions most prestigious golf course that attracts golfers from Australia and around the world – Paradise Palms Golf Course, an 18-hole, par 71, 6,331 metre championship golf course (ranked in the top 50 public access courses in Australia by Golf Digest), pro shop, fully licensed Verandah Bar & Restaurant. The golf course presents meticulously and boasts an exceptional rainforest backdrop with stunning views of the surrounding mountains;

• Development Approvals – the site contains 3 precincts for future residential development in multiple stages. Current planning approvals exist for up to 1,487 apartments over the 3 sites. The opportunity is a blank canvas for any combination of resort, holiday apartment, retirement, hotel and/or permanent living;

• Management rights for the 96 room resort consisting of 46 one and two bedroom self-contained apartments, with 40 apartments within the letting pool; and

• Resort facilities include a restaurant, bar, poolside kiosk, wedding and conference facilities, adventure playground, 18-hole mini golf course and two swimming pools.

The property provides investor – the opportunity to invest in an international standard golfing resort and development opportunity surrounded by the reef and the rainforest. The existing Cairns tourism infrastructure and thriving market will continue to see the region as a world-class tourism destination.

CBREHOTELS.COM

I N T R O D U C T I O N

For further information please contact the exclusive agents:

CBRE HOTELS

DANNY BETROS

M: +61 418 772 049 danny.betros@cbre.com.au

WAYNE BUNZ

M: +61 419 698 640wayne.bunz@cbrehotels.com

SHARON YANG

M: +61 451 596 866 sharon.yang@cbre.com.au

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C A I R N S , A U S T R A L I A

A N O P P O R T U N I T Y T O I N V E S T I N

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PROPERTY PARADISE PALMS GOLF & COUNTRY CLUB

ADDRESS Paradise Palms Drive Kewarra Beach QLD 4879

LOCATIONLocated just 20 minutes North of Cairns and the International Airport, Paradise Palms. The resort is minutes from Palm Cove and a halfway point between Port Douglas and Cairns.

SITE AREA 98* hectares with multiple street frontages

GOLF COURSE DETAILS• 18-hole championship golf course• Par: 71• Length: 6,331m• Designer: Graham Marsh and Ross Watson

RESORT DETAILS

• Management rights for the 96 room resort / 46 one and two bedroom self-contained apartments - ‘the Greens’, with 30 apartments within the letting pool

• Wedding and conference facilities • Food and beverage facilities - restaurant, bar and poolside kiosk • Recreational facilities - adventure playground, 18-hole mini golf course and two

swimming pools• Pro shop

DEVELOPMENT POTENTIAL

Current planning approvals exist for up to 1,487 apartments over the 3 sites:• Kingscliff Peak - 1.76 ha• Orchid North - 3.78 ha• The Dunes - 3.86 ha

MANAGEMENT Management agreement with Troon

SALE DETAILS For sale by Expression of Interest closing 2nd March 2018

E X E C U T I V E S U M M A R Y

*Approximately

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T H E L O C A T I O NP O R T D O U G L A S

P A R A D I S E P A L M S

T H E D A I N T R E E

P A L M C O V E

TOWNSVILLE

CAIRNS

AIRLIE BEACH

PORT DOUGLASPALM COVE

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T H E L O C A T I O N

C A I R N S

G R E A T B A R R I E R R E E F

8

P E R F E C T LY P O S I T I O N E D

9

YORKEYS KNOB

TRINITY BEACH

JAMES COOK UNIVERSITY

SMITHFIELD SHOPPING COMPLEX

KEWARRA BEACH

TO PORT DOUGLAS & PALM COVE

*Blue boundary line is an indication only of The Paradise Palms Precinct.

CLIFTON BEACH

HALF MOON BAY MARINA

CAIRNS CBD

CAIRNS AIRPORT

P A R A D I S E P A L M S

C O U N T R Y C L U B

P A R A D I S E P A L M S C H A M P I O N S H I P G O L F C O U R S E

G R E A T B A R R I E R R E E F

Cairns Airport – 15 minutes

Cairns CBD - 20 minutes

James Cook University – 5 minutes

Palm Cove and Northern Beaches – 5 minutes

Smithfield Shopping Complex – 10 minutes

Half Moon Bay & Bluewater Yacht Marinas – 10 minutes

Port Douglas Village and beach – 37 minutes

D R I V I N G D I S T A N C E F R O M P A R A D I S E P A L M S

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The Great Barrier Reef attracts more than 1.6 million visitors each year1.6

MILLION

The Great Barrier Reef contributes more than $5bil to the Australian economy$5

BILLION

The Great Barrier Reef generates 63,000 jobs63

THOUSAND

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C A I R N S A U S T R A L I AG A T E W A Y T O T H E G R E A T B A R R I E R R E E F & D A I N T R E E R A I N F O R E S T

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Visitor night trend:

Trend in visitor nights within the region is consistently on the rise, with levels reaching 16,678 million visitor nights in 2015 across Tropical North Queensland.

16.6

MILLIO

N10%

International Cairns visitors:

International visitors have grown in excess of 11% per year. Over the past five years, visitors from China alone have grown by 400%.

Endless opportunities:

Continued demand from domestic and international tourism markets, combined with significant growth from the Asian market will create demand and drive the need for investments across the tourism supply chain.

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Growth in expenditure:

Visitor expenditure has consistently grown over the last 10 years and now exceeds $3 billion annually.

$3BILLION

Fastest growing industry:

Over the past 30 years, tourism has been the fastest growing industry in the Cairns region, with 5 million passengers passing through the Cairns airport in 2016 alone.

5MILLION

World class tourism:

Cairns is one of Australia’s most visited tourism destinations, boasting natural wonders, incredible destinations, new developments and future investments alike, positioning Cairns as a leading tourism destination in world markets.

“The Great Barrier Reef is at

the top, by far, of the must-do

travel aspiration list for Chinese

people”

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A G R O W I N G R E G I O N . . .

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A G R O W I N G R E G I O N . . .

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C A I R N S E C O N O M Y

40kStrong employment industries:

Cairns region hosts more than 23,000 businesses across a range of industries, with additional expected employment gains of 40,000 jobs in the next 2 decades forecast, bringing the local labour pool to 160,000.

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Economic drive:

Cairns’ diversified portfolio of industries has created significant economic resilience and growth, with the Cairns economy worth a reported $16 billion and growing at 2.6% per year.

$16BILLION

The largest regional economy in Queensland:

Cairns sits at the top of the list for regional economies in Queensland, with annual economic growth averaging 2.6% over the last decade.

2.6%Supported by population growth:

Cairns is the second fastest growing city in Australia. A substantial 1.4% average annual growth rate is expected over the next 20 years, increasing the region’s population by 75,000 residents.

1.4%

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C A I R N S A I R P O R TThe Cairns Airport is Australia’s leading regional airport with substantial links provided to domestic and international locations. The terminal has been recently redeveloped, with additional plans to invest a further $1 billiwon AUD into the airport over the next two decades.

5 million passenger movements through Cairns airport in 2016 alone.

5MILLION

I N T E R N A T I O N A L

D O M E S T I C

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International visitors in 2016 continue to grow at 11% with additional direct flights supporting the growth of the tourism market.

11INTERNATIONALAIRLINES

9DOMESTICAIRLINES

Two mainland Chinese carriers are set to expand their operations into Queensland this year, with Hainan Airlines launching a second service from Shenzen and China Southern to begin direct flights between Guangzhou and Cairns this December.

INCREASED FLIGHTS

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W E L C O M E T O P A R A D I S E

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W E L C O M E T O P A R A D I S E

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98HECTARES

100GOLF COURSEIN AUSTRALIA

A TOP

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G O L F E R ’ S P A R A D I S EParadise Palms Resort and Country Club is set over 98 hectares, consisting of a world class championship golf course, fully developed club house, commercial and retail facilities, together with already occupied residential dwellings.

The 18-hole golf course is a par 71 course, spanning 6,331 metres of sweeping fairways, snaking creeks, three lakes, 72 bunkers and a scenic natural World Heritage Rainforest backdrop.

- Ranked in the top 50 public access courses in Australia by Golf Digest

- Ranked in the top100 public access courses in 2017 by Golf Australia

The design team of Graham Marsh and Ross Watson, created this tropical gem when commissioned by Japanese owners, Daikyo, to create Australia’s most difficult tournament venue.

Course, Grounds and Equipment

The course has been designed to complement the surrounding mountain backdrop and utilise the picture perfect weather conditions enjoyed almost all year round with traditional style course architecture.

The golf course improvements include substantial landscaping, driving range, fairways, greens, sand bunkers, water hazards / lakes, workshop and maintenance facility, extensive irrigation systems and native trees and shrubs.

The golf course offers state of the art Visage GPS Club Car golf carts with 3D visual hole layouts that displays information to the golfer relating to fairway size, distances and hazards that are in play. The carts can update the golfer with real time imagery and yardage information. The system also allows the golf shop to monitor the cart position on course and relay cart information back to the golf shop and staff to monitor pace of play and cart maintenance. The carts also offer advertising opportunities to clients wishing to advertise on course as well as a food and beverage ordering option.

The Golf Shop, located on the lower level of the Clubhouse, is open 7 days a week.

HOLE PAR1 52 43 34 45 46 47 38 49 510 411 312 413 414 315 416 417 518 4

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M A N A G E M E N TIn June 2016, Troon Golf were engaged to operate the golf course and other business enterprises,with a focus on:

• Reviewing the operations and make recommendations to improve both the experience at the golf course and associated restaurant as well as identify options for reducing operating costs associated with the golf course;

• Expand upon the marketing utilising the existing networks held by Troon through the various golf courses they operate within Australia and internationally;

Troon Golf has a worldwide reputation for presenting its courses to a world-class standard, manages the golf course. Troon Golf manages over 300 golf course and resort facilities in 32 countries around the world and includes 7 facilities within Australia.

As the largest golf course management company, Troon offers unprecedented assistance in all aspect of Golf Course and Resort management operations, including sales and marketing, operations advisory, purchasing, and agronomy services. Through there expertise determined various strategies to improve the standard of the golf course via improved playing surfaces, improvements to manage / reduce maintenance costs associated with the golf course as well as various improvements to the hospitality side of the business.

Troon Golf have marketed the Paradise Palms product globally via multiple marketing platforms including their own Troon Gold and Travel Magazine that reaches over 625,000 readers worldwide.

Pertinent terms of the agreement with Troon are as follows:

PROVIDER Troon Golf Switzerland

COMMENCEMENT 3rd June 2016

TERM Two full fiscal years plus two five year options

FEESFees are based on following thresholds:A) $80,000 p.a. upon commencement date and continuing until breakeven point;B) After breaking even, the annual base fee shall increase by $20,000 to $100,000 p.a.; andC) For each $200,000 improvement thereafter the fee shall raise by another $10,000.

TERMINATION Based on performance owner has the right to terminate on the last day of full fiscal year 3 and every 3rd full fiscal year thereafter if a GOP deficiency occurs.

OPERATING / CAPITAL BUDGET

Annual capital replacement is typically allocated at 3% of Gross Revenues which owner shall have approval rights on both operating and capital budgets.

Since Troon have been operating the golf course:

• The revenue streams have gradually improved year on year with the most notable improvements being around the Food and Beverage element meeting the market and offering a product that is attractive to the local demographic;

• Significant focus has been placed on cost management with the view to the operations achieving a break-even position to profit during the course of FY18 / FY19; and

• Paradise Palms is now ranked number 48 golf course in Australia by Golf Digest for the Top 100 Golf Courses.

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1BEDROOM

2BEDROOM

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T H E R E S O R TParadise Palms Country Club and Resort offers the follow facilities:

ACCOMMODATION - THE GREENS

Management rights to 96 rooms / 46 apartments consisting of one or two bedroom self-contained apartments and range in size from 134-137 sqm. Of the 46 apartments, 40 apartments (80 rooms) are within the letting pool, 7 are owner occupied and 9 are permanently let.

These spacious, modern rooms are nestled amongst lush tropical gardens and pools. One bedroom apartments feature a king bed, separate living area and spacious bathroom, private balcony, full kitchen and laundry. Two bedroom apartments feature full kitchen including dining table, laundry, private balcony and two rooms each with their own en-suite bathroom. Included within the sale is the caretaker’s lot.

FOOD & BEVERAGE FACILITIES

Food and beverage facilities including a restaurant, bar, a poolside kiosk and golf course catering.

RECREATIONAL FACILITIES

18-hole mini golf course, 25 metre swimming pool and the ‘Adventure Playground’ - a themed play village with a 21 metre jumping pillow, slippery slide, climbing frame and deluxe children’s playground. These facilities are open 7 days per week from 6:30am to 8:00pm.

Residents of the may use these facilities Free of Charge while they are residing on the property. Restaurant diners and their children may use the playground without cost, however, the pool and mini golf are charged at a cost of $4 per child and $8 per adult.

These facilities are operated by the bar mid week or during the low season, however, on weekends and holiday season this is operated by the Kiosk. The use is monitored by duty supervisors, floor staff and the kiosk attendant (when the kiosk is operating).

During the Holiday Seasons the pool area is monitored by qualified life guards who are casual employees of the business.

Paradise Palms also offers Leisure memberships at annual fee of $199 (Pool and Playground) or $259 which also includes the mini golf without further charge.

WEDDING, CONFERENCE & EVENT FACILITIES

Offering a selection of multipurpose spaces through its Clubhouse, function rooms, restaurant, gardens and pool areas, with the following capacities:

ROOM CABARET BANQUET COCKTAIL THEATRE

Mangano Room 110 120 220 120

The Palms Room 40 50 180 -

Fairways Restaurant - 180 500 -

Poolside & Garden - 180 500 -

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The table below represents a summary of the actual results to 31 October 2017 on an annual basis with projections for FY18 and FY19:

PERIODFY16

ACTUAL (10 MTHS)

FY17 ACTUAL

(12 MTHS)

FY18 ACTUAL

(3 MTHS)

FY18 ACTUAL/FORECAST(3/9 MTHS)

FY19 FORECAST(12 MTHS)

Revenue 4,206,949 5,877,177 1,841,580 6,544,160 7,599,138

Cost of Sales 3,428,825 4,193,071 1,266,799 4,037,268 4,546,137

Gross Profit 778,124 1,684,106 574,781 2,506,892 3,053,002

Expenditure 1,838,407 2,654,434 660,172 2,633,172 2,584,000

EBITDA -1,060,283 -970,328 -85,391 -126,281 469,002

The graph below represents the revenue on a quarterly basis, year on year with actual and forecast results for FY16 to FY19:

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

Q1 Q2 Q3 Q4

FY16 FY17 FY18 FY19

The primary increases in revenue are associated with improvements in wedding and function business and continued improvement in trade within the restaurant. Increases in golf revenue have been projected based primarily upon expansion of the holiday market and packages being offered in conjunction with various functions in Cairns.

F I N A N C I A L S

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F O O D & B E V E R A G E O P E R A T I O N SAt the time of acquisition, the Food and Beverage business was trading at an operating loss of ~$400,000 p.a.

The Food and Beverage offering has been through a number of changes since acquisition which include:

• Refurbishment of the facilities to provide a modern offering for customers

• Market analysis to consider the customers being serviced

• Analysis as to the demographic and offerings that would appeal to the greater customer base available

• Revision of the menus to offer a variety and price point that suited the clientele and general demographic

The marketing of the Food and Beverage element has been revitalised with significant use of the following:

• Social Media – Facebook, Instagram

• Paradise Palms website

• Cairns Post – regular front page advertising

• Direct marketing emails

The operation of this business has improved significantly over this period with revenue increasing 17% over the last 12 months and the business now generating an operating profit of $330,000 p.a.

The functions and weddings side of the business has been steadily growing since the acquisition through various advertising undertaken in publications such as:

• MICE Magazine

• My QLD Wedding

• Australian Bride Magazine

The functions and weddings aspect of the business is anticipated to significantly further improve over the coming 12-24 months through market recognition from advertising undertaken.

Prior to the acquisition, Paradise Palms was in receivership and the functions and wedding aspects of the business were impacted heavily as:

• Marketing was not being undertaken to promote these events

• Potential clientele were not booking events due to concerns as to the future of the venue and that their event would occur at the premises

This has been a two year rebuilding process to re-develop market awareness and gain the confidence of the clientele to book these events.

The table below represents a summary of the trading results for the Food and Beverage operations since the property was acquired:

FY16 (10 MTHS)

FY17 (12 MTHS)

FY18 (3 MTHS)

Revenue 1,690,549 2,396,264 834,389

Cost of Sales 1,467,443 1,451,951 441,175

Gross Profit 223,106 944,313 393,214

Expenditure 349,494 303,579 62,228

EBITDA -126,388 640,734 330,986

The graph below represents a comparison of revenue by quarter, year on year.

-

200,000

400,000

600,000

800,000

1,000,000

Q1 Q2 Q3 Q4

FY16 FY17 FY18

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Since the acquisition of the property the golf operations were significantly upgraded to provide a point of difference compared to other courses within the region. In order to increase and sustain revenue streams a marketing plan was implemented to provided a greater awareness of Paradise Palms and establish it as the premier golf course.

With an Australia wide reduction of 6% in membership retention, Paradise Palms has maintained its membership revenue and has grown the golf business. This has been achieved through a combination of pristine golf course conditions, state of the art golf carts, luxurious clubhouse facilities and an extensive variety of food and beverage offerings for it’s members and guests.

Over the past two years, Paradise Palms has invested heavily in reconditioning the golf course to bring it back to its championship status. Paradise Palms has engaged with 1991 British Open Champion Ian Baker-Finch to assist in various re-design elements as noted below.

Improvements were undertaken on the course include:

• Tree and vegetation removal programs allowing for better air flow on course and improve the maintenance costs associated with the greens;

• Significant fairway and green renovation programs undertaken bi-annually to promote root growth and enhance playing surfaces;

• Investment in new drainage and irrigation to improve the maintenance aspects of the course and general operating costs;

• Ian Baker-Finch assisted with the re-design of the bunkers and tees to reduce maintenance costs and improve playability. As part of this he determined a strategy for the removal of a number of bunkers and conversion to grass bunkers (36 in total, 14 have been removed and a further 22 expected over the coming 12 months) to reduce maintenance costs incurred by heavy rains producing bunker damage during the wet season; and

• Development of two nursery greens which enables for any damage or diseases that may affect the greens to be repaired quickly and efficiently by maintenance staff.

The improvements undertaken were done from two aspects being to reduce the maintenance costs associated with the course and improve the experience for the golfer.

The table below represents a summary of the membership numbers by category for the last 2 years:

FY17 FY18

Platinum 111 155

Gold 96 64

Lifestyle 392 166

Youth 5 8

EBITDA -1,060,283 -970,328

The membership structure has changed with a number of Gold members converting their memberships to platinum in the last 12 months.

The Memberships are structured as below:

• Platinum - $3,200 p.a. with no green fees

• Gold - $800 p.a. with $50 green fees

• Lifestyle - $285 p.a. with discounted green fees of $75

The table below represents a summary of the trading results for the golf operations since the property was acquired.

FY16 (10 MTHS)

FY17 (12 MTHS)

FY18 (3 MTHS)

Revenue 1,663,132 2,352,884 637,674

Cost of Sales 794,318 1,409,814 442,962

Gross Profit 868,814 934,070 194,712

Expenditure 248,870 625,613 95,354

EBITDA 619,944 317,457 99,358

The graph below represents a comparison of golf revenue by quarter, year on year.

-

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

Q1 Q2 Q3 Q4

FY16 FY17 FY18

G O L F O P E R A T I O N S

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The Food and Beverage revenue includes the Functions and Wedding income as the core of this revenue is associated with the food and beverage element.

Below is a graph representing the weddings by dollar value since July 2016 with FY18 (November onwards) reflecting booked events:

-

10,000

20,000

30,000

40,000

FY17 FY18

The revenue currently generated from weddings show significant capacity for an increase to group revenues through further promoting this market/

Below is a graph representing the Functions by dollar value since July 2016 with FY18 (November onwards) reflecting booked events:

- 20,000 40,000 60,000 80,000

100,000

FY17 FY18

The revenues generated by functions has improved substantially year on year for FY18, though management considers that there is significant opportunities to increase revenue in this area.

The Function and Conference business is seen as a growth market as the smaller conferencing groups of 10 – 40 participants are producing repetitive business. This is promoted via Conferencing Booking Agents, MICE Agents, Government Wholesalers, Government Departments and Websites including the Paradise Palms website.

Prior to the current ownership there had been a downturn in Wedding promotions and advertising. With most weddings being booked 18 months in advance the turn around of this business should begin to show in the first part of 2018.

There is extensive marketing in place in specialised wedding publications, websites and through wedding planners offering Paradise Palms as a wedding venue.

F U N C T I O N O P E R A T I O N S

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C A P I T A L E X P E N D I T U R EA summary of the capital expenditure since acquisition is as follows:ITEM VALUE ($)GOLF EQUIPMENTToro Multi Pro $68,000Toro Sand Pro $32,000Toro Groundmaster 4000 $75,000Toro Groundmaster 3500 $40,000Toro Groundmaster 4700 $86,900Toro Groundmaster 3250 $62,073Toro Groundmaster 3250 $44,000Carryalls x 4 $59,000GPS $210,000Golf Carts $345,000TOTAL $1,021,973GOLF COURSE IMPROVEMENTSTree and Vegetation Removal Programs 210,000Fairways and Green Renovations 145,000Drainage and Irrigation 28,000Tee and Bunker Renovations 78,000New Greens and Nursery Development 85,000TOTAL 546,000CLUBHOUSE IMPROVEMENTSPainting and redecorating $245,000Furniture, Fittings and Equipment $435,000TOTAL $680,000DEVELOPMENTMoore Road extension $2,440,152Consultants / Development Parcels $435,000TOTAL $2,875,152TOTAL EXPENDITURE 5,123,125

Paradise Palms was acquired in August 2015 and has gone through a number of changes since acquisition, which include:

• Refurbishment of the golf course to return it to championship status and subsequently the ranking to ‘Top 50 Golf Courses in Australia’;

• Re-branding operations and marketing campaigns to re-establish the business within the function and wedding markets and further emphasis of the property within local markets as the regions premier golf course;

• Refurbishment of the clubhouse facilities with $680,000 spent;

• Updating the plant and equipment – addition of new state of the art golf carts and on course maintenance equipment. Over $1million was spent in acquiring new plant and equipment for the golf course as most equipment held at acquisition was aged significantly and the costs to maintain exceeded the benefit in retaining the assets. The Golf Carts are state of the art with built in GPS units allowing for course management i.e. can restrict access to areas of the course as well as providing the golfer course information.

• The investment in golf course improvements was undertaken with the view to managing the maintenance costs associated with the course and in particular the greens and bunkers.

• Improvements to the golf course to manage costs and playability with $546,000 in expenditure.

The following capital improvements have been made since acquisition:

• Repainting and decorating the clubhouse interior ;

• Re-carpeting and renovations to function rooms;

• Replacement of equipment and kitchen appliances including bench fridges, gas cooktops, pizza and sandwich benches, ovens, dishwashers;

• Upgrade to furnishing throughout the clubhouse.

The Moore Road extension was undertaken to:

• Enable the sub-division of the development parcels

• Create an alternate access point to the clubhouse whilst also alleviating traffic issues that can arise at the highway intersection in particular in peak traffic periods

The golf course was also re-configured at the time of construction of the Moore Road extension as 1 hole was removed resulting in a requirement to re-align a number of holes within the course.

Significant works have been undertaken in relation to the development sites such that they are largely shovel ready for construction to commence.

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F I N A N C I A L SX X X X X X X X X X X X XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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S I T E D E T A I L SThe combined site has a physical frontage to Paradise Palms Drive, Moore Road and Discovery Drive, with access to these roads via the Captain Cook Highway immediately to the east.

LOT SIZE LOT & TITLE DETAILS DESCRIPTION

Golf Course & Clubhouse 87.99ha Lot 4 on SP 285555Title Reference 51059772

18 holes and the clubhouse comprises a large two storey structure which includes a restaurant, bar, function rooms and pro shop. Car parking facilities, a commercial playground and practice driving range are also situated on this lot.

Vacant Land 8.70ha Lot 900 on SP 285555Title Reference 51059773 This lot is located between Moore Road and Paradise Palms Drive.

Vacant Land 8,051sqm Lot 6 on RP 804481 Title Reference 21463132

This lot comprises vacant land at the corner of Moore Road and the Captain Cook Highway adjacent to South Point.

Entry Statement 313sqm Lot 2000 on SP 187407 Title Reference 50700573

The lot captures a landscaped entry statement on Paradise Palms Drive adjacent to Latitude North and The Entrance.

Entry Statement 307sqm Lot 2001 on SP 187408 Title Reference 50697066

The lot captures landscaped entry statement on Paradise Palms Drive adjacent to Latitude North and The Entrance.

Caretakers Lot / Letting Office - The Greens 42sqm Lot 999 on SP 219936

Title Reference 50757738 Lot 999 is identified in the Community Management Statement as a caretaker’s lot.

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D E V E L O P M E N T O P P O R T U N I T YThe site contains 3 precincts for future residential development in multiple stages offering a wide variety of styles, uses, configurations and densities. Current planning approvals exist for up to 1,487 apartments over the 3 sites and the opportunity is a blank canvas for any combination of resort, holiday apartment, retirement, hotel and or permanent living.

The proposed site density is 400pph and as such the 3 precincts can accommodate the following:

T H E D U N E S - H 13.86 Hectares

The Dunes offers the future possibility for unique concept development located in the central part of the golf course which would ideally suite a holiday resort, hotel or apartments. A reconfiguration of the golf course would be required to make this site available but the resulting position and aspect on 4 sides would be ground breaking for its amenity and offering. The site could accommodate up to a further 600 apartments approx. in multiple stages of a lower rise of 3-4 levels. Designs have not been commissioned for this sector.

O R C H I D N O R T H - H 23.678 Hectares

Orchid North is proposed to be a mixed-use development precinct incorporating a mix of permanent and holiday rental apartments. This site has been master planned to accommodate approx. 600 apartments in 15 stages of 3-5 levels. This precinct is also ideal for a Retirement Village or a Holiday Resort. The area is large enough and has good separation to incorporate different uses as the market requires and as the market changes from year to year. Flexibility and versatility is this property’s greatest asset. Small retail services could also be incorporated into this area if demand requires.

K I N G S C L I F F P E A K - H 31.76 Hectares

This precinct is the highest development site and has been master planned to accommodate luxury apartments of a 1, 2 and 3-bedroom configuration totaling 281 units in 5 stages of 4 -7 levels. Most units will enjoy panoramic views over the golf course and out to the ocean. It is envisaged that this development would be of more prestige targeting owner occupiers or high-end rentals.

* ARTIST’S IMPRESSION

独立洋房

The world heritage tro

pical forest

未来 己完工

C L U B H O U S E

G O L F C O U R S E

K I N G S C L I F F P E A K

O R C H I D N O R T H

T H E D U N E S

* OUTLINES INDICATIVE ONLY

* ARTIST’S IMPRESSION

K I N G S C L I F F P E A K

* ARTIST’S IMPRESSION

copyright©

O R C H I D N O R T H

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METHOD OF SALE

The freehold going concern interest in Paradise Palms Resort & Country Club is offered for sale via an expressions of interest campaign closing 2nd March 2018 (unless sold prior).

Parties interested in acquiring the asset, and approved by the Vendor, will be granted access to a virtual data room after signing a non-disclosure agreement.

Expressions of interest should include, but are not limited to the following information:

— Name and details of the proposed purchasing entity and principals involved with contact information;

— Purchase price;

— Capacity to complete the transaction including any requirement to raise debt or equity;

— Details of any conditions or approvals required including Foreign Investment Review Board approval;

— Timetable for due diligence, execution of contract and settlement.

SELECTION OF BIDDER(S)

The Vendor may shortlist one or more Bidder(s) from among those Bidder(s) who submitted an EOI, and grant the opportunity to conduct formal due diligence. In selecting the Bidder(s), the Vendor may consider factors including:

— The Bid price and other terms outlined in the EOI;

— The Bidder’s financial capability

— The Bidder’s ability to complete the transaction with the Vendor in a manner which will satisfy timing and other objectives; and

— Such other factors as the Vendor consider to be relevant in its sole and absolute discretion.

On the basis of the EOI’s received, the Vendor may then select one or more preferred parties from whom they would like to receive final and binding bids for the Property. These shortlisted parties will be provided with detailed information on the Property and a draft sale and purchase agreement which will be made available in the virtual data room.

CBREHOTELS.COM

S A L E P R O C E S S

For further information please contact the exclusive agents:

CBRE HOTELS

DANNY BETROS

M: +61 418 772 049 danny.betros@cbre.com.au

WAYNE BUNZ

M: +61 419 698 640wayne.bunz@cbrehotels.com

SHARON YANG

M: +61 451 596 866 sharon.yang@cbre.com.au

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DISCLAIMER

This Information Memorandum has been prepared by CBRE (C) Pty Ltd ABN 64 003 205 552 on behalf of the vendor. Its purpose is to provide general information only in relation to the property referred to in this Information Memorandum (the “Property”). It is produced solely as a general guide for potential purchasers and should not be relied on for any purposes. The Information Memorandum does not constitute valuation advice, a recommendation in relation to the purchase of the Property or an offer. Potential purchasers must satisfy themselves as to the accuracy and completeness of the information in this Information Memorandum and must make and rely on their enquiries as to all matters relevant to the Property. All descriptions, dimensions, figures, opinions and other details in this Information Memorandum have been prepared in good faith but may not have been independently verified by the Parties. In the event of any discrepancy between this Information Memorandum and information forming part of the due diligence of the Property, the latter shall take precedence. Prospective

purchasers should proceed on the basis that no party will be legally committed, and no arrangement or understanding will be binding, unless and until formal agreements are executed and exchanged. The terms of any such agreement will be as expressly recorded in the agreement and will not include this Information Memorandum. Prospective purchasers are solely responsible for their own costs of investigating the Property in all circumstances. This Information Memorandum is confidential and for the sole use of persons directly provided with it by CBRE and is not to be reproduced, copied or sent to any other person without the prior written consent of the Vendor

and CBRE.

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A N O P P O R T U N I T Y T O I N V E S T I N