The former home of the Terranora Lakes Country Club owned by hospitality heavyweights Godfrey and Jenny Mantle has come to market with project approval for more than 1600 residential lots.
Spanning a significant 184-hectares of land in northern New South Wales, and located seven-kilometres from Coolangatta, the former 18-hole golf course, has approval for 1604 lots and dwellings comprising residential, retirement, aged care, retail and commercial.
Godfrey Mantle purchased the landholding for $4.8 million from liquidators to the club 22 years ago.
One of Brisbane’s largest and longest running food and beverage operators Mantle Group, which last year confirmed it is working toward a mid-2019 IPO, is 100 per cent privately owned by Godfrey and Jenny Mantle.
The pair established Mantle Group in 1979, with popular Jimmy’s on the Mall — Queen Street Mall’s first outdoor restaurant in Brisbane’s CBD — opening and operating since 1982.
Colliers International’s David Higgins and James Holland along with Wilson Property’s Randal Wilson are brokering the deal via an expression of interest campaign.
Higgins said the site is expected to garner interest from residential and retirement developers looking to supply housing in the southern Gold Coast and northern NSW region.
“The approval allows for 1,604 lots and dwellings in addition to a 200-bed nursing home, which is a major project for the region and will transform the locality,” Higgins said.
The current plan allows for nine precincts with a variety of housing options to be built around a retail and commercial village.
The landholding was once put-forward for a Mediterranean inspired hilltop community that would have seen its homes and villas offer panoramic land and ocean views.
Nearby infrastructure development includes Gold Coast Airport’s $370 million expansion and the proposed $582 million Tweed Valley Hospital development.
The expression of interest campaign closes 17 April.