Cable Beach resort hits the market
The 4½ star The Billi Resort at Cable Beach, the latest addition to Broome’s tourism infrastructure, has been placed on the market for $5.2 million.
The property, to be marketed by Resort Brokers Australia in conjunction with Accommodation West P/L, comprises eight two bedroom villas, four luxury eco tents and a studio apartment and was completed in June, 2012.
All accommodation is connected by raised timber walkways and fringes a large, modern resort-style pool with daybeds, water wall and a sunken fire pit. There is also a current development approval in place for six additional eco tents. The villas have a lounge area with TV/DVD, dining area, large dual shower bathroom, kitchen area, outdoor shower and a large private deck area with built-in couches for entertaining and relaxing.
The studio apartment has a queen size bed, en suite, kitchenette and private deck.
Three Queen Size luxury tents have a queen size bed, ceiling fans, kitchenette, bathroom with free-standing bath and rain shower, private outdoor deck with built-in couches and barbecue. A similarly equipped King Size eco tent is larger and suitable for families.
Resort Brokers Australia’s Glenn Millar said the business was a going concern with excellent management systems in place including reservations systems, housekeeping department, website, corporate identity and profile, established marketing and third party relationships with a solid business plan in place.
Mr Millar said there was also an opportunity for the purchaser to set up and operate a full commercial laundry operation as a large shed at the back of “the Billi Resort” has been designed to run four large washing machines and gas operated dryers.
“Recent valuations place the land at $3 million plus and the replacement value of buildings, gardens, sheds, furnishings at $3,750,000.
“Resort Brokers Australia’s clients are offering the property at below replacement cost at $5.2 million plus GST,” he said.
Projected net income for sale purposes has been projected at $430,000 (under management) based on current financial information and business trends.
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