The Colonial Palms Motor Inn, in one of Australia’s most recognised tourist destinations, is to be offered for sale.
CBRE Hotels’ agent Shane Mullins has been appointed to market the Airlie Beach asset via an Expressions of Interest campaign.
“The resort is positioned on an elevated 3,759sqm, ocean view site and offers spectacular views over the Coral Sea coastline from all guest rooms and the restaurant,” Mr Mullins said.
“The property also benefits from its quiet location, which is just 700 metres from downtown Airlie Beach.”
The motor inn is rated 3.5-stars and features 30 well-appointed guest rooms, a licensed restaurant and bar and two lagoon style swimming pools.
“A strong economy, well-planned infrastructure and desirable lifestyle location make the Whitsunday Region an inviting investment destination,” Mr Mullins said.
“This has benefitted the performance of the Colonial Palms Motor Inn, which is popular among the leisure, rep/corporate and coach tour market. There is also future potential for the property to accommodate small conferences, weddings and functions, in addition to capitalising on strong demand from international tourists”.
The resort is currently owner operated and is being offered with vacant possession, allowing an incoming owner to re-brand and reposition the resort.
Expressions of Interest close March 14th, 2019 at 3pm (AEST).
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.