Andrew Sallway, from Grant Thornton Australia, the Sydney-based accountant and business advisory firm that was appointed receiver and manager of the property in February, said the Anna Bay resort was weeks away from going "live" and ready for sale.

"Right now we are in the process of putting the resort on the market," he said.

Port Stephens Mayor Bruce MacKenzie, who previously called the dormant site a "blight on Anna Bay and Port Stephens", said he was "delighted" the resort was finally being sold.

"I think it is great news," Cr MacKenzie said.

"The council felt it was something there to be proud of when we approved it [in 2011].

"I want to see the development council approved built there, especially now with the investment in the [Birubi Point] surf club and the new [education and entertainment centre] Pulse going down on the corner."

Grant Thornton Australia was appointed the receiver by the resort's financier, China Security and Surveillance Technology through another company, Anke Smart City, in February.

The firm was quick to establish new fencing around the Gan Gan Road site and in April, Swan's Security Alarms and Guards was re-hired to discourage further vandalism.

In 2011, when the concept of the resort was presented to Port Stephens Council, it was envisaged the eight-acre site would be home to a four-star resort with 198 strata-titled tourist apartments, tennis courts, a function centre and a pool.

Work on making those plans a reality came to a halt in 2012 when contractors stopped work due to money disputes.

It is believed more than $1 million is still owing to contractors, who are unlikely to receive payment for their work.

Fast-forward two years and the site, which has been stripped of copper, vandalised extensively and had people squatting in buildings, will be sold. Mr Sallway remained tight-lipped on the details.