Australia has a significant presence in the global aerospace sector; however, securing land – much less freehold land – suitable for a commercial multi-user space facility is challenging. After almost a quarter century, a chance has arisen to acquire a freehold asset that meets multi-use spaceport requirements in terms of location, infrastructure, a diverse scope of capabilities, and strategic considerations. The available oceanfront land is located between the 10th and 11th parallel, on the Cape York Western Peninsula, Queensland. Since the early 1900s, there have been only five owners and the land is not affected by native title. It is situated 18 kilometres from the tip of the Australian mainland along its eastern seaboard and presents a promising prospect as an unduplicatible asset set for acquisition.
Click here to read the Utingu Information Memorandum
Introducing Utingu
Utingu is a freehold oceanfront land situated on Cape York’s Western Peninsula, Queensland, Australia, between the 10th and 11th parallels, spanning over 88 hectares with almost two kilometres of beachfront. It is privately owned land that is not affected by native title restrictions and is the only significant freehold landholding within a 600-kilometre radius. Queensland Sotheby’s marketing agent Lynn Malone said, “To my knowledge, Utingu is the only significant freehold land in northern Cape York. It is also the Australian mainland’s closest land to the Equator.”
Development Application approval is in place for 67 multi-use buildings ranging from accommodation and recreation to maintenance hangars and a heliport. Phase one building works are complete and operational for the 440 sqm Utingu Lodge, a 420 sqm maintenance hangar, helipad, gazetted road approval, along with supporting infrastructure and utilities. Phase two building works, as required, can commence as approved following the sale or the next owner can make a Council application for amendments. “Initially, it was thought that Utingu was likely to be purchased by an eco-resort developer. Now, with prospective buyers in the space industry, the DA approvals currently held can be repurposed to suit the next owner’s requirements, subject to Council approval,” Lynn Malone explains.
Utingu facts
Area: 88.754 hectares (219.32 acres)
Oceanfront: 1.9 kilometres (1.2 miles)
Latitude/Longitude: 10° 41’21” S, 142° 31’50” E
Tenure: Private ownership and freehold land
Council: Torres Strait Island Regional Council
Zoning: ‘Other Land’
Click here to view the listing and here to make an inquiry.
Pioneering History
Utingu has a long history of pioneering achievements, including Australia’s first coconut plantation in the late 1800s. Now, it has the opportunity to transform into one of the world’s only two commercial equatorial multi-user spaceports. Its equatorial position provides a distinct advantage in attracting the space, defence, and surveillance sectors, respectively. The vast size of the land parcel allows for a diverse portfolio of capabilities and tenancies as a multi-user space facility.
Next generation of pioneers
For over two decades, Utingu has served as a private retreat for its vendors. As time passes and circumstances change, it is time for the next generation of pioneers to take over the reins of Utingu. “The Utingu vendor holds a wealth of information about the property along with 20 years of commissioned reports, surveys and studies that will exponentially benefit the next owner”, advises Michael Vettoretto, Queensland Sotheby’s.
Utingu advantages
Proximity to the Equator
Sparsely populated
Clear airspace and dark skies
Stable weather patterns outside of the Cyclone Belt
Access to regional and international airports - serviced by Qantas, Virgin Airways, Rex Airline and international carriers such as Singapore Airlines
Access to support services and a deepwater port serviced by Sea Swift
Proximity to military assets
Access to major hospitals and universities
Geopolitical stability
Relatively flat land with a biodiverse landscape and vegetation
Significant land parcel to allow a diverse portfolio of capablities and tenancies
Access to 25 years of reports, surveys, and studies
Expressions of Interest sales campaign
Represented by Queensland Sotheby’s International Realty, Utingu is offered for sale as an Expression of Interest campaign that closes at 4:00 pm AEST, Monday, 01 July 2024. Upon request, the due diligence data room access, and a draft REIQ Contract of Sale are available for perusal, with private inspections by appointment commencing the week of 27 May.
About Sotheby’s International Realty
For over 270 years, Sotheby’s name has been synonymous with a revered tradition of marketing the world’s most cherished possessions. In 1976, an exceptional real estate company was launched with the same passion that guides the Sotheby’s Auction House. Today, we are a commanding global presence in the representation of the most unique and distinguished properties. We have a global network of more than 26,500 sales associates, in 1,115 offices worldwide, across 84 countries and territories. Artfully uniting extraordinary homes with extraordinary lives. We invite you to experience the difference.
For more information contact:
Lynn Malone
+61 408772880
or
Michael Vettoretto
+61 438705745
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