Press Release: 10/2/2021
EDEN DEVELOPER ACQUIRES PRIZED BEACHFRONT LAND IN BATEMANS BAY
Experienced developer Core Asset Development Pty Ltd (CAD) has acquired a prized parcel of 10,300 square metres of beachfront land in North Batemans Bay for residential and an eco-tourism development.
The parcel of land at 2A Myamba Parade at Surfside fronts two beaches and has development approval for CAD to create a five star eco-tourism resort, with construction expected to total $30 million.
CAD plans to create 22 apartments and townhouses and a glamping operation, as well as restaurants, bars, conference and wedding centre and a 65 room hotel.
The acquisition and planned development follows CAD commencing this month the first stage of a $100 million, four-tower complex in Eden, to be known as “The Sapphire of Eden”, as well as the refurbishment of the recently acquired Australasia Hotel in the city’s centre.
Mark Toma, a director of CAD, said “We are very excited about the unique opportunity to put Batemans Map on the five-star tourism map with a top quality hotel, function centre and luxury accommodation.
“We are especially keen to create a glamping operation as the position is perfect for couples and families to enjoy a pristine, private setting on two beaches with boardwalks and nature trails in the area”, he added.
CAD intends to call the resort “The Sapphire Batemans” and is expected to commence construction in the middle of the year.
Both the Batemans Bay and Eden projects are expected to general hundreds of jobs during their construction and ongoing operations.
Mr Toma said “Both our projects will give the South Coast a much needed, private sector shot in the arm, generating jobs and economic growth to the area through tourism”.
