The Sands Torquay listed for sale

THE Sands Torquay has been placed on the market by receivers Mackay Goodwin, after the owners defaulted on a loan.

Situated in Torquay, the property spans 76.5 hectares and boasts 112 suites, a restaurant, conference facilities, and an 18-hole golf course designed by Stuart Appleby, which includes a 20-bay driving range.

Following a recent refurbishment that elevated the resort to a 4.5-star standard, the sale encompasses all freehold land and buildings, along with the business, which is offered with vacant possession.

Additional amenities include a health club with a 25-metre indoor swimming pool and tennis courts.

CBRE’s Scott Callow is overseeing the sale through an expression of interest campaign that concludes on 29 May 2024.

Mr Callow said the strategic location of the resort leverages tourism from Melbourne and the local golf community in Torquay.

“The resort is strategically located to benefit from tourists coming from Melbourne and the local support for the golf club in Torquay,” Mr Callow said.

“The vacant possession offering means the new owner will have the freedom to operate the resort themselves or install their own management company, while enjoying steady income from the golf and health club, resort amenities, food and beverage services and the swim school.”

“Additionally, there is potential for further residential development at various locations around the golf course, subject to council approval.”

“This opportunity in a prime surf coast location, just 90 minutes from Melbourne, is highly sought after.”

Originally constructed in 2007 and designed by Perrott Lyon Matheson, the resort underwent significant upgrades recently.

The golf course, a key feature of the property, was awarded Pro-Am of the Year in 2022 by the Australian PGA and maintains a robust membership base.

It is renowned for hosting regular golf tournaments and corporate events, having been developed initially by the Handbury Group.

DLH acquired the 76.5-hectare property in administration for $12.8 million.