A Queensland site that helped prove a new wave-making technology is being offered for sale, with a 37ha landholding and approved tourism development providing the next owner with a substantial Capricorn Coast opportunity.
The property at 1668 Yeppoon Road, Mulara, between Rockhampton and Yeppoon and 400km north of Brisbane, is being marketed by Knight Frank and Elders Commercial Rockhampton through an expressions-of-interest campaign.
The 37.18ha freehold property includes an established 4ha lake basin previously used as a prototype facility by Surf Lakes, which developed a wave-making system designed to generate multiple surf breaks simultaneously.
The site has approvals for a recreational resort development, with the marketing campaign outlining capacity for 150 tourist park and short-term accommodation rooms and 100 caravan park sites.
The existing lake infrastructure and balance land provide scope for a tourism, hospitality and leisure destination, according to the sales listing.
Surf Lakes established the Yeppoon facility in 2018 as a full-scale prototype to test and refine its wave-making technology before pursuing commercial surf parks.
However, the company has since shifted its corporate headquarters and executive focus to the US, where it sees its largest growth opportunity.
In January 2024, Surf Lakes established Surf Lakes Global Inc as its Delaware-incorporated parent company, citing access to US capital markets and proximity to prospective customers as reasons for the move.
The company had secured nine licensing agreements, eight of which were in the US, and chief executive Aaron Trevis relocated to the country.
The transition did not mean a complete withdrawal from Australia, with Surf Lakes retaining Australian operations, including its Gold Coast office and Yeppoon research and development facility.
The Livingstone Shire Council approved a broader tourism development application in January 2022, covering a surf lake attraction and associated facilities, 52 cabins, 100 caravan or tent sites and a renewable energy facility.
The approved concept also included a surf shop, food and beverage facilities, a skate park, mountain bike trails, a scuba pool and a research and development lake.
In 2024, Surf Lakes was pursuing funding for the commercial development, with Gatehouse Hospitality appointed to help secure a debt financing partner.
Plans at the time included a commercially upgraded surf lake capable of delivering up to 2000 rides an hour, with waves reaching 2.6m, alongside cabin accommodation, dining, wellness, spa and yoga facilities.
Expressions of interest close on December 10, 2026.
Glen Cummins of Knight Frank, Adam Kelly of Elders Commercial Rockhampton and Christian Sandstrom of Knight Frank are handling the campaign.
