One of Victorias most recognised function and resort destinations listed for sale
One of Victoria's most recognised function and resort destinations listed for sale
| 2 April 2019
The management rights and more than half of the apartments in Victoria’s highly regarded Silverwater Resort have been listed for sale amid continued demand for Australian accommodation assets.
CBRE Hotels’ Scott Callow and Wayne Bunz have been appointed to market the opportunity, one of Victoria’s largest regional integrated leisure and conference resorts.
Located just over an hour from Melbourne on the San Remo coastline, the 8.5ha north facing property offers panoramic views across to Phillip Island.
It comprises dual-key, one, two and three-bedroom, self-contained apartments, six conference and meeting facilities with a capacity for up to 500 delegates, food and beverage facilities, heated indoor and outdoor swimming pools, sports courts and a children’s playground.
The sale includes 88 apartments and the respective business operations and resort management rights for a total of 172 keys. The incoming purchaser will also have the opportunity to develop an additional 16 dual-key apartments under an existing town planning permit.
“Silverwater Resort is one of Victoria’s premium resort and conference facilities, easily accessed from Melbourne’s CBD and suburbs and with a long and successful trading history” Mr Callow said.
“The resort has broad appeal for family and conference guests given its high-quality facilities and proximity to a range of attractions, with the ability to expand the number of apartments providing additional growth potential.”
CBRE’s Mr Bunz noted that the listing coincided with significant investor demand for Australian hotel investment opportunities.
“Silverwater Resort will appeal to purchasers seeking an alternative, higher yielding investment opportunity in a non-CBD location, which appeals to both the leisure and corporate market,” Mr Bunz said.
The resort is being offered for sale by Expressions of Interest closing Thursday 2nd May 2019 at 4:00pm (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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.