Developments

Ruffles Lodge sold to Chinese investor

A Chinese investor has acquired Peppers Ruffles Lodge and Spa on the Gold Coast hinterland from John and Jan Nicholls who developed the resort. The purchase price was $4.5 million.

The agreement with the Mantra group to operate under the Peppers brand will remain unchanged.

Stewart Gilchrist of Colliers International who negotiated the deal, said the buyer was a private investor from China who resided on the Gold Coast part time and saw the Peppers Ruffles Lodge and Spa as an income-producing property and, sitting on more than 26ha, it has potential for resort development in the future.

The Nicholls have been trying to sell the Chris Beckingham-designed property for two years so they can retire.

Peppers Ruffles Lodge and Spa has a health spa, golf practice range, restaurant and an infinity pool.

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