Heinrich Ruiz de Roxas and Lu Lin Yong, directors at Eden Resort Hotel, are selling a mixed-use development site in the coastal town of Eden in the Australian state of New South Wales through Colliers International, The Australian Financial Review reported.

Upon the completion of the project intended for the site, the seven-hectare land parcel is expected to be worth over A$400 million, according to the publication. The property was earlier marketed with the help of Knight Frank but failed to attract a buyer.

The site carries a concept-plan approval for a 150-room hotel, a restaurant and a conference center, while the areas surrounding it are intended for the development of 200 serviced apartments, townhouses, and single- and semi-detached homes. Within the next two weeks, the vendors expect to secure approval to develop a 154-berth marina in the property, the Oct. 21 report added.