Moreton Island
In line with other
locations, the real estate on Moreton Island took a hit during
the Global Financial Crisis of 2008, bottoming out in mid-2011.
Values on Moreton Island continue to remain fairly level.
The Banking sector made investment difficult with higher than
usual loan to valuation ratios. Despite this, people continue
to invest and in the townships of Kooringal, Bulwer and Cowan
the first 6 months of 2021 saw most properties sell at close
to list price and very limited stock now available. Tangalooma,
being leasehold, remains a difficult proposition, despite
having some of the most spectacular real estate in South East
Queensland. But if historical reference is anything to go
by, during the market rises of 2002 to 2007 Moreton Island,
including Tangalooma was initially slow to get going, but
once it did, it also saw very respectable capital appreciation.
Time will tell.
Kooringal
Kooringal
Kooringal is an
established village located on the southern end of Moreton
Island. It is approximately 20 kilometres south of the tourist
resort of Tangalooma, and about 27 kilometres south of the
township of Bulwer. Moreton Island is 98% National Park. It
has no bitumen roads and all vehicular access is by 4 wheel
drives only. Kooringal has one of two air strips located on
the island.
Tangalooma
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"Tangalooma
Wild Dolphin Resort" is located on the western side of
Moreton Island. Tangalooma is approximately 4 kilometres south
of the township of Cowan Cowan, and about 11 kilometres south
of the township of Bulwer. Tangalooma has a local shop that
caters for basic supplies. Tangalooma is an arrival and departure
point for vehicle and passenger ferries from Brisbane. The
Resort has its' own power driven ferry running daily between
the Brisbane River and the Resort. Moreton Island is 98% National
Park. It has no bitumen roads and all vehicular access is
by 4 wheel drive only. Cowan Cowan and Kooringal both have
airstrips. Tangalooma has a helipad.
Tangalooma Resort occupies approximately 26 hectares of the
western side (including beach to low water) of Moreton Island.
Tenure is held by Perpetual Country Lease No 2593 under the
Land Act in the State of Queensland. It has been held since
1974.
The real estate at Tangalooma has been sold under a sub-lease
arrangement, with terms ranging from 99 years to 990 years
depending on the location and property. The real estate includes
beach front villas, beachfront apartments and beachfront houses.
Other residential land releases have occurred on the high
sand ridge running behind the resort. Stage 1 called "Beach
Haven" comprises a 9-lot subdivision. Stage 2 called
Bay View comprises a 44 lot residential subdivision. Stage
3 called "Sunset" is a 55-lot subdivision.
With a furniture package in place individual properties may
be rented through the resort. Owner occupation will reduce
income figures, particularly if occupied during peak periods.
During periods of owner occupation, owners are required to
pay additional services charges for the utilities they use
during their occupation. The properties may be withdrawn from
the rental pool and incur no penalty, however all previously
made bookings must be honoured. We understand there are no
restrictions on permanent occupancy by owners provided they
are prepared to pay service charges for gas and electricity.
Body corporate fees apply.
Bulwer
Bulwer is the most
northerly established village on Moreton Island. It is approximately
7 kilometres north of the township of Cowan Cowan, and 11
kilometres north of the tourist resort of Tangalooma. It has
a local shop, post office and service station and is the arrival
and departure point for the vehicle and passenger barge "The
Mircat". Moreton Island is 98% National Park. It has
no bitumen roads and all vehicular access is by 4 wheel drive
only. Bulwer has a helipad on the towns' outskirts. An airstrip
is located approximately 7 kilometres south near Cowan Cowan.
Cowan Cowan
"Cowan Cowan"
is an established village on the western side of Moreton Island.
Cowan Cowan is approximately 4 kilometres north of the tourist
resort of Tangalooma, and about 7 kilometres south of the
township of Bulwer. Bulwer has a local shop that caters for
basic supplies including fuel and liquor distribution. Bulwer
and Tangalooma are the closest arrival and departure points
for vehicle and Passenger ferries from Brisbane. Moreton Island
is 98% National Park. It has no bitumen roads and all vehicular
access is by 4 wheel drive only. Cowan Cowan has one of two
air strips located on the island.
Cowan Cowan is about 27 radial km east north-east from Redcliffe
on the mainland, and about 51 radial km north easterly from
the Brisbane CBD. The settlement is residential in nature,
offering permanent and holiday accommodation, predominantly
in detached houses.
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