Timeshare resort a last-chance to buy into Broadbeach beachfront

Voyager, a timeshare resort on the beachfront in Broadbeach, is up for sale.

TIME has been called on a landmark timeshare resort located on a prime piece of beachside real estate in Broadbeach.

The resort, known as Voyager, occupies 2,070sq m fronting the esplanade on the corner of Old Burleigh Road and Elizabeth Avenue.

Built about 1984, the 16-level Voyager building is comprised of 62 one-bedroom units, two levels of basement parking, and shared use of a pool, spa, sauna and tennis court.

The resort is opposite Kurrawa Surf Club and beach.

Timeshare properties boomed in the Eighties and gave people a form of ownership or right to use a particular property for holidays. The concept has since fallen out of favour with holidaymakers, who now have far more options when it comes to accommodation.

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The journey to bring Voyager to market has been a lengthy one, with the amalgamation of some 3,000 timeshare entitlements attached to the resort.

Kollosche sales agent Adam Grbcic, who is marketing the property alongside Tony Grbcic and Simon Worthington, said freehold opportunities of this magnitude, location and aspect were rare.

It sits on a corner block of almost 2000sq m.

The site at 167 Old Burleigh Road has unobstructed easterly ocean views, and excellent proximity to beaches, dining and shops. Being on a corner block of more than 2,000sq m, the site has the potential to accommodate a dual tower development with a retail precinct to adjoin the Oracle retail.

“This is the jewel of Broadbeach and the last remaining slice of beachside land available for development in the suburb. It is extremely unlikely that a similar site would become available here again,” Mr Grbcic said.

More than 3000 entitlements are linked to the property.

The semi-modern apartment building presents buyers with a strong holding income, with the

option of operating as a hotel or long-term stay accommodation.

But according to Mr Grbcic, it is the redevelopment potential that is likely to attract a buyer.

“Any beachfront parcel is going to attract a lot of interest but this blue-chip site offers the opportunity for a legacy development,” said Mr Grbcic.

It offers an extremely unique opportunity, according to marketing agent Adam Grbcic of Kkollosche.

“The location is irreplaceable. So far we’ve had interest from long-term investors looking to landbank, hotel operators and as well as developers seeking to redevelop he site.”
Voyager is opposite patrolled surf beaches, Pratten Park and Kurrawa Surf Club.

Expressions of interest in the property will close on August 12 at 3pm.

Expressions of interest close on August 12.