Caloundra resort-conference centre on the market
Management rights and the associated real estate for the seven-storey Shearwater Resort and Vue Conference Centre at Caloundra on the Sunshine Coast has been placed on the market for $4.25 million.
The 62 unit complex, purpose built for short term accommodation and with panoramic views across Kings Beach to Moreton Island and the Pacific Ocean, is being marketed exclusively by Resort Brokers Australia. It is comprised of one-, two- and three-bedroom units as well as a spacious front and back office and separate meeting room for dealing with conference clients and wedding planners.
The two bedroom manager’s residence is located on the fifth floor and has sweeping ocean views.
Resort Brokers Australia’s Glenn Millar said the apartments had been designed for short term letting and were unsuitable for long term stays or owner occupiers, providing managers with a strong letting pool. An independent valuation report has valued the manager’s lot at $535,000 which includes the residence, office and reception area, three storerooms and a tandem car park while the conference facility has been valued at $475,000.
Net profit for sale purposes has been put at $610,000 by the vendor’s accountants with occupancy for the past 12 months being 60.7%.
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