A “once-in-a-generation” Sunshine Coast property with 450m of absolute beachfront has come onto the market, after a court ordered its sale following moves by a high-profile power couple.
The 40-hectare (100-acre) Noosa North Shore property is being marketed by RWC (Ray White Commercial) Special Projects agents Tony Williams and Mark Creevey, in conjunction with RWC Noosa and Sunshine Coast agents Paul Butler and Paul Forrest.
Located at 337 Teewah Beach Road, the property is 3km as the crow flies from Noosa’s iconic Hastings Street, but a 15km drive away via a sealed road linking directly to the North Shore Ferry.
“Rarely does an opportunity arise to purchase a 40ha parcel of land with an expansive stretch of absolute beach frontage on the Sunshine Coast, within close proximity to one of Australia’s most popular lifestyle and holiday destinations,” Mr Williams said.
“The property offers a rare combination of proximity to the lifestyle, tourism, retail, restaurant and commercial amenities associated with the Noosa area whilst being a secluded and beachfront location.
“Zoned Rural Residential under the Noosa Plan 2020, the property provides an opportunity for an astute buyer to unlock the enormous potential the property holds.”
The property is subject to a Supreme Court order and is offered for sale by Glenn O’Kearney of GT Advisory and Consulting and Tim Elliott of Bell Legal as statutory trustees.
A Supreme Court finding delivered by Judge Tom Sullivan on January 10 outlines the complex history of the property.
Michael Malouf and Heidi Middleton, who own a half share of the land, applied in September 2023 for the appointment of Mr O’Kearney and Mr Elliott as trustees for the sale of the land.
Mr Malouf is the director of Calile Malouf Investments, which is the developer behind the five-star Calile Hotel at Fortitude Valley as well as the planned 178-room Calile Noosa, while Ms Middleton is a co-founder of women’s fashion label Sass & Bide.
The other half share of the land is registered in the name of Jill Cameron. The court documents state that “some form of Cameron family ownership seems to have existed at least from 1979”.
By 2015, Ms Cameron held a 50 per cent interest in the land, with three other parties holding a third each of the remaining half.
In April 2022 the land went to auction but was passed in with “no genuine interest”.
In September that year, Mr Malouf and Ms Middleton submitted an unsuccessful offer to purchase the land. They had expressed interest in it for potential commercial use and later as a site for a family residence.
From April to June 2023 Mr Malouf and Ms Middleton acquired the one-sixth shares owned by the three other parties, giving them half-ownership of the land.
The property was scheduled to go to auction in June 2023 but two days beforehand Ms Cameron decided not to proceed with the sale.
The documents state that in July “Mr Malouf’s solicitors wrote an email to the solicitors for Ms Cameron stating that Mr Malouf and Ms Middleton would enforce the sale of the Noosa land via the appointment of statutory trustees for sale”.
The documents state that Ms Cameron “consented to a proposed order” but the application by Mr Malouf and Ms Middleton was opposed by Ms Cameron’s former husband Ian Cameron “because in mid-2023 he also entered into a deed with Ms Cameron whereby she agreed to transfer the other half of her 50 per cent interest”.
Ms Cameron’s son William had also expressed a desire to build a house on the land, that he would offer to purchase the share held by Ms Middleton and Mr Malouf, and that he would be bidding at an auction if a statutory trustee was appointed.
Judge Sullivan ruled that the trustees be appointed and that a national commercial real estate agent market the property for sale.
The property will be auctioned in the Ray White offices at Eagle Street in Brisbane on May 10.
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