It's sold: renewed hope for site of failed $50 million resort at Anna Bay

There is renewed hope for an abandoned $50 million resort at the entrance of the Birubi Beach sand dunes in Anna Bay.

After years of sitting idle, the derelict site has sold to Sydney-based S & C Group after an expressions of interest campaign led by Port Stephens-based listing agent Michael Kirby, from Century 21 Paradise Waters.

The sale price is undisclosed.

The property, at 74-84 Gan Gan Road, was sold on September 9 and settled on October 3, according to Mr Kirby.

S & C Group is led by medical device entrepreneurs Stene and Corri Marshall, founders of the microneedling company DermapenWorld, which has representation in more than 107 countries.

The property, which spans 4.14 hectares, has remained dormant for years.

It was offered to market with approved plans for 11 free-standing two-level accommodation towers consisting of 110 one-bedroom studio apartments and 44 two-bedroom apartments.

S & C Group told the Newcastle Herald it aims to begin work on the site "as soon as possible", building a holiday resort for "couples and families alike".

Original plans for the site included a four-star resort with 154 rooms, a 500-seat function centre, a restaurant, a main bar, tennis courts and a swimming pool.

The reception area and restaurant, which are partially built, will be completed as part of the new resort.

"I believe the original building, as the reception and restaurant area, is still structurally sound and can be renovated into what will be a great venue for the facility," he said.

"Obviously, over the years, the vandalism and graffiti on the site make it a larger project than it otherwise could be, but that's what we signed on for and are very aware of the scale of the project."

Construction on the site stopped in 2012 after a dispute between contractors and resort owners.

The resort was placed into administration in 2014.

The site sat idle before it was sold for an undisclosed sum in 2016 to developer Frank Shi through administrators Grant Thornton, as part of an expressions of interest process.

Mr Shi hoped to have the resort operational in December 2019; however, he also struggled with limited funds.

The project has remained in an unfinished, derelict state.

Stene and Corri Marshall have completed multiple building projects over the last 30 years; however, this is the largest they have undertaken so far.

"This will be the biggest project that we have taken on; however, that is certainly not daunting to us, as we have successfully built a multinational business in over 100 countries," he said.

"We are very confident that the experiences we have learnt in systems, financial acumen, along with visionary attributes that saw great business success, will translate very nicely across into a project such as this.

"We are confident with the design and engineering partners we have on board."

He said they were drawn to the site's long-term potential to make a significant impact on the available facilities in Anna Bay and the larger Nelson Bay precinct.

"We love coming to the area for a break ourselves over the years, and we had been driving past this site for a number of years, thinking that it would be an opportunity to create something great for the town," he said.

"We are excited to be able to bring the site to life with high-end accommodation facilities, great food and an entertaining venue, along with provisions to be able to capitalise on the passing trade, both those that are utilising Stockton beach, but also the passing daily traffic and local community."