Industry players snap up $15 million rights to landmark resorts
The management rights to two Queensland oceanfront resorts have sold for a combined figure of close to $15 million.
Minor Hotels has bought the rights to Oceans Resort and Spa in Hervey Bay from Oceans Queensland.
The seven-storey, 128-unit complex on Charlton Esplanade, which was launched in 2007 as Peppers Pier Resort, will be operated as Oaks Resort & Spa Hervey Bay.
“The Hervey Bay complex is an exceptional hotel-style property and the management agreements are such that it can operate as a full-service resort with an exceptional range of recreation, spa, conference and hospitality facilities on site,” said sales agent Glenn Millar of Resort Brokers Australia.
Further south, Caloundra’s five-star Rumba Beach Resort has been bought by SC Resort Management, headed by former On The Beach Noosa operators Benn and Leslie Wilson.
The five-level, 74-unit resort on Leeding Terrace is the holiday town’s only five-star resort.
Opened in 2009 by Village Management Corp, it took out the top Sunshine Coast Tourism Accommodation Award in 2014, 2015 and 2016 and was shortlisted for state awards.
Rumba comprises two low-rise towers, two swimming pools and a mix of luxury one, two and three-bedroom apartments.
Mr Millar said the management rights sale included a two-bedroom unit and a 387 sqm commercial lot incorporating the 26° Bar + Venue, conference rooms and kitchen.
“With an impressive trading history, high annual occupancy exceeding 80 per cent, and robust net income, this is a true blue-chip operation that attracted very strong interest,” he said.
“It’s great to see it sold to an experienced local Sunshine Coast operator.”
Large-scale infrastructure projects like the new Maroochydore CBD and Sunshine Coast airport, university and hospital developments, plus tourism projects including the $450 million Actventure theme park and $60 million Badderam Eco Luxe Resort and Spa, mean investment in the region is booming.
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