Owners ignite strata sale at Sunshine Coast resort
Investors looking for a slice of ‘Paradise’ need look no further than Queensland’s Sunshine Coast, with the remaining strata units at the Pacific Paradise Resort up for sale.
The offering involves the 40 remaining freestanding units, the restaurant, a manager’s residence and the management rights for 68 units at the resort in Mudjimba.
The resort is situated at 151-153 Mudjimba Beach Rd, Mudjimba, about 1.5km from the Sunshine Coast Airport, which the Sunshine Coast Council plans to expand with a new runway.
The resort is also about 10km south of Mount Coolum, where developer Sekisui House Australia has recently announced it has linked with Starwood Hotels and Resorts Worldwide to develop and operate a five-star resort, which is slated to open in 2021.
Sam Johnson and Scott Callow, of CBRE Hotels, have been appointed to oversee the Pacific Paradise Resort sale on behalf of Pacific Paradise Resort Pty Ltd, a private group of owners who developed the Sunshine Coast property.
The ability to split the asset up into smaller parcels will help maximise buyer interest
In total, the resort comprises 120 one or two-storey, two or three-bedroom units, with a mix of holiday, permanently let and owner occupied apartments.
Facilities include a lagoon-style swimming pool, two full size tennis courts, a golf chipping green, barbeque facilities and a children’s playground.
The resort also features the Paradiso – a fully licensed Italian restaurant open to residents of the resort and the public, which can cater for up to 110 people.
The assets being offered by CBRE Hotels are available in one line or in various combinations.
Combined, the assets provide a strong holding income of more than $1 million per annum.
“We’re expecting strong interest from private buyers, self-managed superannuation funds, owner operators and interstate property syndicates, particularly in light of the property’s premier location and attractive facilities,” Johnson says.
“The ability to split the asset up into smaller parcels will help maximise buyer interest, with the offering tipped to attract interest from both local and interstate purchasers.”
The resort is three minutes from the Sunshine Coast Airport and two minutes from Mudjimba Beach.
Expressions of interest close on Wednesday, July 20, if not sold prior.