Coastal charm for sale
Batemans Bay's The Isla and Kon Tiki Apartments offer lucrative tourism investment opportunity
A prime opportunity has emerged in the burgeoning regional tourism sector of New South Wales as boutique motel The Isla and adjacent Kon Tiki Apartments in Batemans Bay hit the market.
Spearheaded by a Canberra-based investment group, these coastal assets promise not only a lucrative investment but also significant future development potential.
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CBRE’s Hayley Manvell and Tristan Cotchett have been entrusted with leading the Expressions of Interest campaign for these sought-after properties.
The Isla, a passion project of a group of Canberra professionals, has undergone a remarkable transformation into a retro-inspired getaway aimed at capturing the imaginations of contemporary travellers. With 18 guest rooms and suites boasting various configurations, the motel exudes a modern retro charm envisioned by Those Architects, blending nostalgia with stylish sophistication.
Yanna Dascarolis, one of The Isla’s co-founders, expressed the group’s vision, stating, “The Isla was created to provide a design-led and exciting new environment from which to rediscover the Batemans Bay area.”
Complementing The Isla, the neighboring Kon Tiki Apartments offers seven two-bedroom apartments, adding diversity to the accommodation offerings in the area.
Together, occupying a substantial 3238 sqm freehold land parcel, these properties present a rare opportunity for future development. Mr. Cotchett highlighted the potential for substantial value enhancement through redevelopment or enhancements to existing facilities. A proposed residential development scheme by Stewart Architecture envisions 58 two- and three-bedroom apartments across four storeys, capitalising on the picturesque ocean views and including basement parking for 120 cars, pending planning approvals.
Ms. Manvell emphasised the allure of beachside hotels, especially in the context of the surging domestic tourism trend witnessed in regional NSW and across Australia. With the South Coast Region recording remarkable growth in visitation, nights stayed, and expenditure, the demand for quality accommodations is on the rise.
The Isla and Kon Tiki Apartments, positioned strategically on Beach Road, approximately four hours’ drive from Sydney and two hours’ drive from Canberra, present an enticing investment proposition. Prospective buyers, including owner-operators, high-net-worth individuals, hotel investment funds, syndicates, and developers, are expected to vie for these coastal gems.
The assets are offered for sale in-one-line with Vacant Possession, with the Expression of Interest campaign set to conclude on March 27, 2024. As the regional tourism sector continues to flourish, these properties stand as a testament to the immense potential of Batemans Bay as a premier destination for both leisure and investment.
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