Coral Sea Resort, in one of Australia’s most recognised tourist destinations Airlie Beach, is to be offered for sale.
CBRE Hotels agents Paul Fraser and Hayley Manvell have been appointed to market the 4-star resort on behalf of Sydney-based owner Darrol Norman.
The offering at 25 Ocean View Avenue comprises 60 large guest suites, with a total inventory of 73 keys in the resort letting pool, conference and function facilities, tour desk, gazebo, private jetty, and the award-winning Clipper Restaurant and Lounge.
CBRE Queensland Director Paul Fraser said the asset has been held by the same owner for over 20 years and the family has now decided to divest their prized asset to focus on retirement.
“This is a quality hotel which presents exceptionally well, having been maintained with constant capital expenditure. The resort has an unrivalled location, positioned on a 7,521sqm ocean front site between the CBD and Abell Point Marina and offering spectacular views over the Coral Sea coastline. It is arguably the best site in the Airlie Beach region.”
“A strong economy, well-planned infrastructure and desirable lifestyle make the Whitsunday Region an inviting investment environment, with Airlie Beach being a particularly attractive prospect as it is currently experiencing a rebound in tourism numbers,” Mr Fraser added.
Ms Manvell said the sale offered prospective purchasers a strong cash flow business, with multiple income streams.
“Coral Sea Resort attracts a diverse range of hotel guests, underpinning its incredibly strong rate and a robust occupancy level. With the hotel being owner-operated at present, and offered with vacant possession, the opportunity could present excellent rebranding opportunities - opening up the buyer pool to major brands and owner operators. We are expecting wide ranging interest with a focus on off shore investors,” Ms Manvell noted.
The Coral Sea Resort is to be sold via Expression of Interest, closing Thursday, April 12, 2018 at 2pm (AEST).
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