Early works are expected to be complete in October on a new 38-allotment subdivision at the The Dunes – the first major expansion since the project was saved from receivership five years ago.

Project director Kevin McGuinness said 10 of the blocks had been pre-sold in what he said reflected a renewed confidence in the Yorke Peninsula project.

“It really reflects the fact the project is moving forward in a positive way,” he said.

“This development is clearly pitched at giving the local community and particularly other markets that it’s moving forward.”

The resort, and its Greg Norman-designed nine-hole golf course, were placed into receivership in 2012 with debts of $13 million.

Bendigo and Adelaide Bank subsidiary Rural Bank, which was owed more than $8 million, took over control of the residential component of the project in 2013 after a failed attempt to sell the undeveloped land.

Mr McGuiness said there would be about 230 allotments in the development once the new stage – dubbed Stage 1C – is completed.

He said golf course membership has doubled in the past three years to 180 members and 80 per cent of existing housing blocks had been sold.

He said a new clubhouse had been approved which could cost somewhere between $2 million and $3 million.

He said there was still scope to develop the remaining nine holes of the golf course.