Village of Penguin, Tasmania, For Sale

Mr Roche’s failure to sell the properties as a package means they are now likely to be sold off individually. Many of the 10 properties in Penguin and nearby Ulverstone have permits for hotels, apartments and shops.

Gross Waddell selling agent Andrew Waddell said buyers had already begun picking at properties in the portfolio, which are valued at between $300,000 and $4 million.

All up, more than 20,000 square metres of beachfront property is for sale, worth about $20 million. Mr Roche expects them to sell over the remainder of the year.

Penguin and Ulverstone are about a 40-minute drive from the Spirit of Tasmania dock in Devonport, which receives regular visitors from Sydney and Melbourne. It is a short drive from Burnie, which has an airport.

Mr Roche’s plans to build an exclusive resort were met with widespread community disapproval.

Death threats, coupled with a mail campaign urging residents to “think of their children” and say no “to an influx of gay Sydney men” tainted development plans.

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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