There is mounting speculation about the future of a large area of land in a prime location on Magnetic Island earmarked for a major development following an unconfirmed report that the owner was recently killed in a Sydney car accident , which his wife survived.
Building activity and real estate sales are noticeable on the island . Several blocks with ocean views have been cleared ready for construction, one, below, on the Esplanade , Nelly Bay. The house on the site has been moved to the back of the block to make way for apartments .
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Fronting the safe harbour , with views of yachts , across Cleveland Bay towards Townsville , is the following two- storey building under construction .
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Another large block , below, overlooking Geoffrey Bay, has recently been cleared.
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At Picnic Bay , Best of Magnetic is offering four beach front four- bedroom apartments on the Esplanade , starting from $1,120,000 .
