Informer Issue 101

INFORMER

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I S S U E N O. 1 0 1 AUSTRA L I A’ S B ES T ACCOM MODAT I ON INVESTMENT S HOWCAS E

® resortbrokers.com.au

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SPECIALISTS

IN ACCOMMODATION FURNITURE FF&E AND JOINERY Custom made furniture including packages & finance solutions.

STRUGGLING TO GET MULTIPLE OWNERS TO REFURBISH?

WE HAVE THE SOLUTION.

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CREATE THE LOOK

SELL THE CONCEPT

Our interior designer creates a furniture package at no cost to you, specific to your property and budget.

We supply a business case example for you to present with the concept.

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FINANCE Our Australian finance partner manages the finance complexities across multiple owners.

4 IMPLEMENTATION We project manage all the delivery and installation.

HOTEL, RESORT & HOSPITALITY FITOUT AND REFURBISHMENT SPECIALISTS Delivering your project with confidence L EARN MORE resortbrokers.com.au

www.hotelinteriors.com.au info@hotelinteriors.com.au | 1300 876 055

CEO, Dennis Clark

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Contents

What’s Inside I S S U E N O . 101

12 FOOD, GLORIOUS FOOD How the foodie revolution has changed the way hotels need to approach F&B

6 QTR 2 SALES ACTIVITY We showcase some of our biggest deals from around the country during Q2

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THE TOP END

THE OUTBACK CONNECTION

Our NT specialist Kelli Crouch reveals why the market in the Top End is going gangbusters

Meet two couples who have made a name for themselves in western Queensland

44 SUCCESS STORIES

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NEW KIDS ON THE BLOCK

LET’S GET SOCIAL: RECENT EVENTS

VALUER’S MARKET UPDATE

From Brisbane to the remote west of Tasmania, Leanne Roberts takes the plunge

A big welcome to our two newest brokers, Frank Matus and Nathan Benjamin

We’ve been out & about at industry events

Liam Greentree of Colliers Valuation Department

Regular Features 54

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ON THE MARKET

BROKER PROFILE

SALES ACTIVITY

RELIEF MANAGERS

MEET OUR TEAM

Managing Director Trudy Crooks looks at interest rates and what the future holds

Find out what makes our Sales Broker of the Year, Russell Rogers, happy and successful

A round up of our top sales from around Australia

Taking a holiday?

Need a manager?

Find one here

ResortBrokers' national directory

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Preface

THE ART

OF DINING People who know me well will tell you I’m not one to hark back to the good old days, but remember back in the good old days when you’d stay in a motel and breakfast was served to your room through one of those hatches near the front door? A typical breakfast order would involve small packets of Corn Flakes and Coco Pops with a serving of steak and eggs or bacon and eggs.

This was a standard offering and it was actually a bit of a treat and a big part of the fun while on a road trip. Just as an aside, when I was running a five room motel in New Zealand in the 1970s, we did breakfast this way as well and, let me tell you, it was a very profitable add on.

These days, however, the food experience offered by hotels and motels has changed dramatically, and for the better I think.

Our main feature article in this edition is called “Food, Glorious Food” and it resortbrokers.com.au

“These days, the food experience offered by hotels and motels has changed dramatically, and for the better I think.

Providing a unique and exceptional food experience can transform a business.”

covers the evolution of restaurants and dining in the accommodation industry and how many more players are coming to the realisation that providing a unique and exceptional food experience can transform a business by creating a new revenue stream and repeat guests, both in-house and locals.

The really interesting part for me is the advice that was provided by the operators of two of the best restaurants in our network. Bangalay Luxury Villas at Shoalhaven Heads on the NSW south coast has embraced “Inspired Dining”, and owner Michelle Bishop outlines how the food business kept them afloat during COVID-19. And Bobbie Murphy, General Manager of the Peninsula Boutique Hotel Port Douglas, provides an excellent rundown of what it takes to succeed in a restaurant business.

We’ve also showcased a selection of some of the best restaurants and cafes in the ResortBrokers network,

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Words_Ian R Crooks, Chairman

and there are some very impressive eateries amongst those. I’ve had the pleasure of dining at a few of them while on the road, so I know how good they are. It’s a tough job!

One of my favourite parts of Australia has always been the Queensland outback. As a New Zealander, that whole concept of wide open spaces, wide open sky with stars that go on forever is the complete antithesis to what I grew up with. We feature two couples who are both operating amazing outback accommodation businesses in Longreach. Damien and Judy Kennedy run Saltbush Retreat, an outback inspired getaway, while Tanya and David Neal have the glamping market covered with Mitchell Grass Retreat.

The Kennedys and the Neals have a family connection and they’ve worked together on several projects and have established themselves as among the best operators in western Queensland and their story is really interesting.

Speaking of successful operators, we have our regular “Success Stories” feature as well and this time we spoke with Leanne Roberts, who bought the historical Franklin Manor in Strahan, Tasmania. Leanne and husband Chris have taken a big leap of faith from Brisbane to the Apple Isle and we wish them the best of luck.

We also have two “newbies” starting with us as brokers – Frank Matus who joins the high performing Brisbane management rights team and Nathan Benjamin who will tag team with Grant Sulzberger in the vast Central Queensland region.

Both Frank and Nathan are whip smart and good with people so we know they’ll be kicking goals with us in no time at all.

You never know … they might even take on the great Russell Rogers as our number one broker some day.

We have a Q&A with Russell in this edition after he won our Sales Broker of the Year award for 2021. And Kelli Crouch, our South Australia and Northern Territory specialist, gives us the lowdown on the NT market and outlines why things are going gangbusters up there.

It’s not just the NT that’s going gangbusters, either. In my more than 50 years in this business, I have never seen a market quite like this one. I’ve been through all the ups and downs over the years, but the overall strength of this market demand right now is both unprecedented and unbelievable. This is down to a combination of a few key factors: the very low interest rates on offer, but I also think that the pandemic has given people a taste of freedom while they were under an enforced workfrom-home. I think people love the idea that they can be their own boss, and can you blame them?

It’s pushing towards dinner time, so I might take myself off to the Calile Hotel in Brisbane and its Hellenika restaurant. I might partake in an Arni Me Patates Sto Fourno or maybe the Souvlakia Moschariou, with a cheeky little grenache. Or maybe I’ll just go to my local pub and have schnitzel and chips. There is absolutely nothing wrong with that! END

“The past 18 months has been a challenging time for everyone, but I genuinely believe many people have an optimistic mindset as we move towards the end of 2021 and into 2022. In the 36 years we have been in business, it never ceases to amaze me what a resilient and exciting industry we are all in. We want to take the time to thank you for your support. It’s been a pleasure. Have a great Christmas and New Year, everyone!”

WE’D LOVE TO HEAR YOUR NEWS AND VIEWS. IF YOU HAVE ANY COMMENTS OR QUESTIONS ABOUT THE INFORMER PLEASE CONTACT OUR EDITOR: CARLA@RESORTBROKERS.COM.AU

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Sales Activity

QTR 2

Our Top Recent Sales & Listings We’ve been experiencing incredibly high demand across all accommodation asset classes and here’s a selection of some our biggest and best sales and listings.

LISTING

MANTRA QUAYSIDE, MANAGEMENT RIGHTS, PORT MACQUARIE, NSW

JUST SOLD

IVORY PALMS, MANAGEMENT RIGHTS, NOOSAVILLE, QLD

One of the most popular apartment hotels on the New South Wales mid-north coast

Rare large integrated resort complex in Noosaville on Queensland’s Sunshine Coast

Contact: Greg James M: 0416 247 068

Contact: Glenn Millar M: 0412 277 804

JUST SOLD

FRANKLIN MANOR, FREEHOLD, STRAHAN, TAS One of Tasmania’s most popular historic boutique hotels with 14 rooms in Strahan

Contact: Marissa von Stieglitz M: 0437 198 164

LISTING JUST SOLD

BARKLY HOMESTEAD, FREEHOLD, TENNANT CREEK, NT

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VENUS BAY CARAVAN PARK, LEASEHOLD, VENUS BAY, SA

One of Australia’s most iconic outback accommodation businesses which is a destination in its own right

This well-presented, low maintenance leasehold is perfectly positioned for owner operators to take it to the next level

Contact: Kelli Crouch M: 0410 441 750

Contact: Kelli Crouch M: 0410 441 750

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JUST SOLD

AUSSIE RESORT, MANAGEMENT RIGHTS, BURLEIGH HEADS, QLD With no office hours, no requirement to live onsite, this one received high enquiry levels

Contact: Todd Warner M: 0438 170 763

LISTING

SILVERTON HOTEL, MOTEL FREEHOLD, BROKEN HILL, NSW The iconic Silverton Hotel has featured in many Australian and international movies including Mad Max II & Mission Impossible II

Contact: Chris Kelly M: 0431 055 221

LISTING

BAYVIEW BEACHFRONT APARTMENTS, MANAGEMENT RIGHTS, BYRON BAY, NSW Situated in one of the most soughtafter Byron Bay locations, this is an exceptional holiday resort

Contact: Todd Warner M: 0438 170 763

LISTING

THE MARKER, OFF THE PLAN, MELBOURNE, VIC Presented exclusively by ResortBrokers is The Marker, a premium off-the-plan management rights opportunity in one of Melbourne’s most desirable inner city locations.

Contact: Tim Crooks / Alex Cook M: 0417 544 562 / M: 0467 600 610

JUST SOLD

UNDER CONTRACT

CHINCHILLA TOURIST PARK, INVESTMENT, CHINCHILLA, QLD

BAYVIEW TOWER, MANAGEMENT RIGHTS, YEPPOON, QLD

This rare passive investment is in a beautifully landscaped cabin and caravan park in a go-ahead Queensland country town, showing incredible returns.

Contact: Jason Vogler M: 0427 431 213

Absolute beachfront location, at the epicentre of the Great Southern Barrier Reef.

This outstanding lifestyle business delivers healthy returns with the potential to grow revenue even further.

Contact: Marissa von Stieglitz M: 0437 198 164

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MANAGEMENT RIGHTS 24 UNITS, 18 LETTING

20 YEARS

5 STOREY TOWER OWNER’S RESIDENCE 3 BED 2 BATH

Aegean Apartments Mooloolaba, QLD

REF // M R 0 0 6 9 7 7

This is your chance to secure a trophy property right in the heart of Mooloolaba.

Aegean Apartments has all the elements of a high performing property and is the perfect asset for those new to the industry or an experienced couple wishing to manage a well-established business and further increase revenue to an already profitable business.

Within the Mooloolaba landscape not too many properties boast this location as a private acquisition opportunity. With a newly painted, aesthetically pleasing façade and colourful interior design, this trendy boutique style management rights makes this property different to anything else in the area. With room to grow and a pro-active body corporate, this business is a dream for a motivated operator.

Aegean Apartments would benefit from a new operator to take the business to the next level. Showing a high ROI, comfortable body corporate remuneration and strong net profit - this property is an absolute dream to operate in one of Australia’s most in demand tourism markets.

Outstanding location within the Mooloolaba landscape 20 years left on the agreements Supportive, proactive Body Corporate Opportunity to grow letting pool and increase occupancy when the borders open Large 3 bedroom manager’s residence Recently repainted interior and exterior Strong occupancy and forward bookings Comfortable BC salary ($64,601) and consistent net profit

Business Price $1,530,800 Real Estate Price $800,000 Total Price $2,330,800

CHENOA DANIEL

GLENN MILLAR

BROKER

BROKER

+61 403 143 151

+61 412 277 804

chenoa@resortbrokers.com.au

glenn@resortbrokers.com.au

MANAGEMENT RIGHTS 757 APARTMENTS 453 LETTING 20 YEARS

The Yards & The Green Bowen Hills, QLD

R E FR E/ /F M / / RX 0 X _0_60908070

Unprecedented Brisbane permanent MR C. $2,000,000 NOP!!

The Yards & The Green are two high quality, investor/tenant focused permanent residential complexes. Located adjacent to each other in Bowen Hills, they are ideally situated next to some of Brisbane’s most popular attractions such as RNA Showgrounds/ Conference Centre, Gasworks shopping centre and James Street precinct.

With 757 apartments and 453 in the letting pool, Yards & Green represents one of the largest (if not the largest) Management Rights businesses ever seen. Underpinned by significant BC salaries totalling $1,032,000 and with over 20 years on C&L agreements this is an opportunity of unprecedented scale and security. There are several identifiable areas to grow the business; weekly rental increases; internet users; R&M work and building the letting pool by converting outside agents (c. 190) and potential part conversion for shortterm (previous restriction ends shortly).

Both complexes have been built with ease of maintenance in mind. All facilities are located on podium level, comprising planter beds, a BBQ / outdoor kitchen space, green space and a pool (in one complex). An allocation of 7 full-time staff (in addition to the two person management team) has been made in the sales P&L. One of the largest MR opportunities ever to hit the market 757 apartments with 453 managed in the onsite letting pool Net Operating Profit of circa $2,000,000 BC salaries in excess of $1,000,000 2 adjacent complexes, run as one business / one trust account No requirement to live on site, large team in place Over 20 years remaining of both sets of agreements Significant identifiable scope to grow the bottom line Prime location in sought after inner Brisbane suburb

Net Profit circa $2,000,000 Business Price $14,000,000 Real Estate Price $1,200,000

TIM CROOKS

ALEX COOK

D I R E C TO R

D I R E C TO R

+61 417 544 562

+61 467 600 610

tim@resortbrokers.com.au

alex@resortbrokers.com.au

MOTEL LEASEHOLD 23 ROOMS

26 YEARS

OWNER’S RESIDENCE 4 BED 1 BATH

Shearing Shed Motor Inn Dubbo, NSW

REF // L H 0 0 6 8 9 1

Central location boasting arguably the highest occupancy rates year round.

The Shearing Shed Motor Inn boasts an average occupancy of 90% annually with a substantial percentage of return guests. The motel is located on Cobra Street close to the heart of Dubbo’s consumer and professional facilities.

All rooms have been recarpeted, repainted, new beds and fittings, new shower screens and wet area floors installed. The carpark has been resurfaced. So move in and reap the rewards of all the hard work already done for you.

The owner’s residence features three upstairs bedrooms with bathroom and toilet plus a fourth bedroom downstairs. The size of the management quarters works well for relief management or large families. The lounge and dining area are attached to reception creating ease of access.

Financially the motel is showing an excellent net return of $453,545 after addbacks providing security for the purchaser. This motel is a cut above other motels with a sustained high occupancy rate, substantial net profit and all major repairs and maintenance taken care of.

Large occupancy year round Major upgrades both to units and external area Management in place to assist new owners Long term remaining on lease Adjusted net profit of $453,545 in 2021 Very limited capital outlay for next few years Almost completely booked the remainder of this calendar year Arguably the highest occupancy in Dubbo

Turnover $1,014,840 Net Profit $453,545 Price $1,420,000

CHRIS KELLY

BROKER

+61 431 055 221 chris@resortbrokers.com.au

MANAGEMENT RIGHTS 98 UNITS

53 LETTING

20 YEARS OWNER’S RESIDENCE 2 BED 2 BATH

Teneriffe Mangement Rights Opportunity

REF // MR006906

Amazing confidential off market MR listing netting $300K+ ResortBrokers is marketing a confidential sale of a Management Rights business and manager’s unit featuring two adjoining complexes in the heart of Teneriffe with a substantial net income coupled with the brilliant lifestyle that this premium location offers.

Rarely do you find the perfect blend of high net income of over $300K, and an excellent caretaking salary with a manageable workload in such an enviable location.

High net profit $300K+ Prime cosmopolitan Teneriffe location Strong & consistent letting pool Minimum 5% annual increases on BC salary Supportive Body Corporate Genuine reason for sale - owners looking to travel around Australia!

Property inspections are by appointment only

Net Profit Over $300,000 Price $2,550,000

NATHAN EADES

FRANK MATUS

BROKER

BROKER

+61 448 339 920

+61 435 742 698

nathan@resortbrokers.com.au

frank@resortbrokers.com.au

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Feature

Food, Glorious Food Words_Ben Hall

Guest expectations are changing.

They’re looking for uniqueness. They’re looking for variety. They’re looking for a form of creative tourism.

And as Ben Hall finds out, outside of a good night’s sleep, they’re also looking for authentic experiences that deliver localised character and this includes the pursuit of unique and memorable eating and drinking experiences.

It wasn’t that long ago that the concept of a hotel or motel restaurant was a routine offering with a basic dining room, or delivery for breakfast, in the smaller properties and a standard restaurant doing lunch and dinner in the larger ones, including the chain hotels.

For a long time, this worked fine. Everyone knew what they were going to get and were happy with that.

But then a new type of person, and culture, emerged – the foodie.

That term was first used in the 1980s by the UK publication Harper’s and Queen who popularised it as a reference to someone who is not a gourmand, nor a snob.

A foodie is a regular person who, according to Harper’s and Queen, “eats to meet the demands of their body from the neck up, not the neck down. Mind, mouth, soul: This is where the foodie lives”.

Soon after, the foodie brigade numbers rose in numbers in Australia in the 1990s and especially the 2000s. The internet is now crammed with food media from viral videos for making lasagne to how to do the perfect scrambled eggs. This movement has prompted many accommodation operators to rethink and revamp their food offerings.

Differentiation was the key and F&B trends changed radically.

Signature restaurant concepts became social hubs for the surrounding community, thereby mitigating their reliance on inhouse guest patronage.

Bold, targeted menus that reflect customers’ desire for more experiential dining options, renowned celebrity chefs and a more relaxed, subtly themed atmosphere all have become the norm. These signature restaurants, sometimes co-branded and outsourced, have helped put some hotels on the map.

Bangalay Luxury Villas at Shoalhaven Heads on the NSW south coast has developed a high-end restaurant with the theme “Inspired Dining”, and owner Michelle Bishop says it’s vital that her business provides a unique food experience.

“It has been essential in being able to define Bangalay as a luxury offering. It has also allowed us to diversify our income which has proven to be important during the extended Covid lockdown periods when travel was not permitted,” says Michelle.

“Our restaurant revenue breaks down to approximately 40 percent accommodation guests, 30 percent people visiting the area but not staying with us, and 30 percent locals from a 30 kilometre radius,” she says.

The restaurant at Bangalay Villas has received rave reviews from highly respected national food and news publications including Financial Review, NZ Herald, Vogue, Gourmet Traveller, Marie Claire, goodfood, Delicious and Broadsheet, among others.

So what are the essentials to building a successful restaurant business? Michelle Bishop says it’s a combination of key factors.

“Being client-centric and authentic to your location and target market. We took a lot of time to think through the guests’ experience when visiting Bangalay.

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“We have curated a food and beverage offering which includes a full à la carte breakfast, picnic hampers, grab and go style pastries, sandwiches and salads for taking with you for day trips, lunch and dinner services featuring local south coast and native Australian ingredients.

“Also a chef-prepared meal in your holiday house or villa, happy hour bar snacks and a large mini bar.

“It’s also important to consider how the accommodation guests and restaurant patrons from outside the accommodation will interact. This has been a constant balance for our business, particularly in the mornings.”

Bangalay is a classic example of creating a property which is not just a hotel where people can sleep. Guests are increasingly demanding an experience and dining can provide that.

The business potential in this space has been spotted by a growing line of Rich Listers including Justin Hemmes, famous for developing the mega-storey venue The Ivy in Sydney’s CBD. He has spent an estimated $30 million on a suite of assets in Narooma on the NSW south coast.

Among the assets are a seafood restaurant, the Quarterdeck pub and cocktail bar and the 17 room Whale Inn, where his company Merivale is planning to establish one of the region’s finest eateries.

“I love Narooma with a deep passion; I adore the people, and just about all my city staff I’ve sent down here on secondments end up calling me saying they want to move here permanently,” Hemmes told the Financial Review.

“It’s all about developing these venues in line with the feel of the town and giving both locals and travellers more choice in the venues they can enjoy.”

One of the benefits of having an on-site restaurant that guests stick around for dinner, drinks, and dessert which obviously drives additional revenue. Also, no one has to worry about how they’ll get to and from a local eatery or bar. Instead, they can safely eat and imbibe, then head back to their rooms without getting behind the wheel of a car. Even without drinking involved, it can be a hassle for guests to drive around, find somewhere to eat, come back, park, and go to their rooms.

Experienced hotel operators also say that for food and beverage, you must match the right restaurant concept with the right guest, instead of following the traditional ‘template’ of fitting a hotel with whatever restaurant a corporate team thinks will drive the most revenue.

“Understanding the demographic is essential, it’s also important to see how it changes throughout the seasons and change your offering to reflect it,” says Michelle Bishop.

“For example, we have gone out of our way to accommodate children under five which has become a large market segment for us.”

The reality is you don’t have to be a Justin Hemmes to create a F&B offering which drives value for your business. Done right, you’ll create a complete experience which will have guests coming back for more.

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Feature

Delight in Every Bite

As the saying goes in the hospitality industry, ‘it’s all about the complete experience’ and we’ve uncovered some of the best restaurants in our network to highlight some of the great work going on in the industry.

Yamba Beach Motel Yamba Sandbar is a casual beachside bistro run by a third generation Clarence Valley fishing family, passionate about bringing local seafood and fish, fresh from trawler to table, along with the best local produce available in the northern NSW region. The ambience is relaxed, the menu has a wide range of tasting plates, and there are craft beers and cocktails along with some of the best views in town.

Bangalay Shoalhaven Heads Kingsley Motel & Restaurant Manjimup, WA Surrounded by lush pastures and some of the most productive soils in Australia, Manjimup is fast becoming known as the Food Bowl of WA. It’s also home of the newly renovated Kingsley Motel, offering quality countrystyle accommodation along with a contemporary dining experience. The restaurant features produce, ingredients and wines curated from the local Southern Forest Region with a strong farm-to-fork approach.

The Sebel Launceston Hotel Launceston Bluestone Bar & Kitchen is the latest addition to Launceston’s growing foodie culture, a contemporary restaurant serving modern Australian cuisine with a hint of Asian influence.

Executive Chef Michael Mackaway’s menus aim to take guests on a culinary journey through a uniquely Tasmanian experience, combining the freshest, in season, local produce with an impressive range of specially curated wine, whisky and craft beer.

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Located between bush and beach, and nestled into the sand dunes at Shoalhaven by the Seven Mile National Park, this architecturally designed luxury eco-resort is the home of Bangalay Dining. The kitchen is headed up by the chef-hatted Wollongong chef Simon Evans, and it’s an airy space boasting views over the resort’s gardens, pool and giant blackbutt tree, along with a fine dining experience showcasing sumptuous native Australian ingredients.

Bannisters By The Sea Mollymook Rick Stein at Mollymook has been a fixture of this iconic boutique luxury resort for over a decade attracting locals and visitors alike with the promise of a fine dining experience coupled with sweeping clifftop views across the ocean. The internationally acclaimed restaurateur Rick Stein chose the idyllic Bannisters for the location of his first Australian restaurant, focussing on the abundance of freshly available NSW South Coast seafood along with a touch of his Asian culinary influence.

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Peninsula Boutique Hotel Port Douglas With an exclusive location overlooking Four Mile Beach, Hi Tide Cafe-Bar-Restaurant is one of Port Douglas’ best kept dining secrets. Along with warm ocean breezes, a cool decor, and amazing cocktails, Head Chef Adam Pownall offers a menu featuring the freshest tropical produce from sea and land, locally sourced, and with seasonal changes.

Kacy’s Beach Motel Bargara Located on Bargara Beach in the heart of town, Kacy’s Restaurant is a casual venue ideal for a quiet drink or an indulgent three-course dinner. Some of its attractions include an extensive wine cellar with over 2,500 bottles, a wide range of draught and bottle beers, and a menu featuring dishes cooked to order using fresh ingredients from the Bundaberg region.

Pelican Waters Resort Sunshine Coast Along with breathtaking views of the heritage-listed Glasshouse Mountains and the Greg Norman designed Pelican Waters Golf Course, this stylish Sunshine Coast resort has expanded its leisure facilities to include a sports bar and a pizza service. And there’s Waterlilies Restaurant, an indoor and outdoor dining venue bathed in natural light offering a menu of contemporary and modern fusion cuisine.

Lismore Bounty Motel Lismore The Lobby Café, Bar & Lounge at the contemporary Lismore Bounty Motel is a hidden gem away from the crowds. Open to house guests and the public, the café specialises in local Northern Rivers beef and seafood with a wide range of cuisine choices, along with an impressive selection of leading Australian wines and local and imported beers.

Peppers Soul Surfers Paradise Luxury apartments and enviable ocean views are just two of this resort’s main attractions. Hyde Paradiso is the American hospitality brand’s first Australian venue, with a laid-back luxe beach club vibe, a hanging garden, resident DJs and a fresh, seasonal, share-style menu with dishes embracing the exotic flavours of Greek, Turkish, Italian and Moroccan cuisines.

The Cubana Resort Nambucca Heads Open daily from 5pm to late, Hemmingways Bar & Grill at the Cubana Resort has an extensive gin collection, a menu of cool cocktails and a range of locally brewed beers. It also has a brand new restaurant menu with Chef Teejay Savelio working with local growers, bakers, farmers, fishermen, wineries and distilleries to showcase the best seasonal and local produce from the Nambucca Valley.

The Whale Inn Narooma Surrounded by unspoiled beaches, this much loved Narooma motel was recently purchased by Justin Hemmes and the Merivale hospitality group. Featuring 17 spacious rooms and a relaxed community vibe, it also has a brand new restaurant, Chez Dominique, boasting views along the Sapphire Coast and offering an “intimate farm-to-table pop-up” in collaboration with local French-Australian chefs and Chez Dominique founders Elsa Marie and Julian May.

Lookout Mountain Retreat Dorrigo Located a stone’s throw from Dorrigo’s World Heritage National Park, this resort enjoys picturesque mountain, valley and ocean views. The onsite Waterfall Way Café isn’t just a highlight of a stay here, but a key attraction in the area, with a rustic decor featuring a huge stone fireplace and local Tallowwood beams and posts, and an outdoor terrace bathed in sunlight surrounded by stunning gardens and hinterland views. It’s also famous for its delicious range of Dorrigo chocolates and handcrafted fudge.

Artesian Spa Motor Inn Moree Having direct access to three of its own Moree natural hot pools isn’t the only attraction of this charming motor inn. There’s also the Garden Restaurant, which enjoys a picturesque setting overlooking manicured gardens and the river running behind the property, along with a menu of contemporary cuisine based on local produce.

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Feature

How to Create a

SUCCESSFUL F&B BUSINESS Creating a successful restaurant as part of an accommodation is an obvious way to increase revenue and improve the guest experience. But there’s more to it than a ‘build it and they will come’ approach. We asked Bobbie Murphy, General Manager of the Peninsula Boutique Hotel Port Douglas and the highly rated Hi Tide Café-Bar-Restaurant, what it takes to run a successful restaurant business.

HOW IMPORTANT IS IT FOR AN ACCOMMODATION BUSINESS TO PROVIDE A FOOD EXPERIENCE? From a ‘guest experience’ perspective, having an onsite food and beverage operation is crucial if your goal is to provide the ultimate in luxury escapes. Allowing guests the freedom to explore the local area if they want, or simply stay within the walls of their hotel to be nourished, sets a standard in luxury resort accommodation.

From a ‘revenue creating’ perspective, a food and beverage operation is one of the most challenging things that you can do. With staffing shortages, continually changing hospitality trends, varying produce prices and growing competition, the restaurant game is not for the faint hearted. The complexities are multiplied with a restaurant attached to a hotel as the expectations of the guests are increased and the need for the team to be trained well in customer service is paramount.

WHAT ARE THE ESSENTIALS FOR A GOOD/SUCCESSFUL RESTAURANT IN A HOTEL/MOTEL? Teamwork! A guest paying a premium for a room, that dines in the restaurant has a silent expectation that they are a priority over ‘outside diners’. It is crucial that the team is trained to recognise repeat guests and make them feel valued.

Allowing time for a conversation regarding their stay and the activities they may have done the previous day, will always put you in the good books. In a boutique luxury resort, it is imperative that a relationship is formed with the guests and the team members in order to feel that they had good value for their hundreds or thousands of dollars spent on a bed for the night.

Service cannot be a transactional process, it must be sincere and personalised when you are dealing with hotel guests.

Repeat visitation relies on this level of service.

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Going hand in hand with acknowledging our guests, comes the need for a ‘YES’ attitude. One must remember that guests are on holiday, but often they don’t want to feel like they are on holiday – they want to feel like they are at home, in a sense. The need for us to be flexible and cater to their individual requests, allowing them to feel as though they were in their own dining room, is heightened. A menu or location can become repetitive after a five or six day stay, so we must be creative and allow for changes.

HOW IMPORTANT IS UNDERSTANDING YOUR DEMOGRAPHIC? If you don’t understand your demographic, you may be wasting a lot of money and time. Food and beverage costs, marketing expenses and operational expenses are all affected by a failure to understand your target market. Why try and cater to a clientele that are not interested in the product you are delivering? Once you know the breakdown of ‘who’ your clientele are, then you can create experiences to match their needs, thus improving the reach of the business and revenue.

For example, recently, I have been developing our wine list.

Knowing that the majority of my guests are from Melbourne/ Victoria and they are a mature generation, many being creatures of habit, I have introduced a variety of Mornington Peninsula wines to the list. These fast became the best selling wines as my guests were familiar with them and purchased them, rather than the small producer from South Australia they had never heard of. The guests that may purchase the wine from the boutique supplier they have never heard about, is a smaller part of my demographical pie chart.

This guest will try new things and will most likely be the guest that is happy to stay in their room and scan the QR code to order the dinner menu from the comfort of their bed. When I understand my guests and what their visitation trends are, I can introduce processes to best accommodate their needs whilst maintaining expenditure.

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IF YOU DON’T UNDERSTAND YOUR DEMOGRAPHIC, YOU MAY BE WASTING A LOT OF MONEY AND TIME. FOOD AND BEVERAGE COSTS, MARKETING EXPENSES AND OPERATIONAL EXPENSES ARE ALL AFFECTED BY A FAILURE TO UNDERSTAND YOUR TARGET MARKET. resortbrokers.com.au

OFF THE PLAN 198 APARTMENTS

70% PROJECTED INVESTORS

25 YEAR AGREEMENTS

The Marker

Melbourne, VIC

REF // O T P 0 0 6 9 5 1

On the rise - Melbourne’s newest off the plan mangement rights.

We are delighted to present the off the plan management rights to The Marker.

A stunning trio of residential buildings designed for short-term and permanent occupation. Located in a vibrant neighbourhood nestled between the CBD and Docklands, this large-scale development has superb inter-city connectivity and access to an array of eclectic amenities.

Beautifully designed and impeccably styled, on-site facilities include a garden courtyard, resident lounge area with kitchenette and dedicated dining space along with conference and meeting rooms. There are five retail tenancies on the ground floor and Aldi has been secured as a key tenant.

The Marker is an ideal opportunity for an experienced operator to establish a sizeable short-stay business in a high-quality building. Directly adjoining the main foyer is an 87sqm freehold operational space, ideal for reception / back office / back-of-house etc, ensuring an efficient and secure operation for the purchaser moving forward.

This coveted opportunity comes with brand new 25 year Facilities and Letting Agreements, a strong 70% projected investor profile and is underpinned by a solid $200,000 Owner’s Corporation Salary.

Three buildings comprising a total of 198 apartments Good mix of 1, 2 and 3 bedroom layouts Designed for permanent and short-term occupation 25 year Letting and Facilities Management Agreements Projected 70% investor profile based on sales to date Construction is well-progressed and due to complete in Q2 2022 $200,000 Owner’s Corporation Salary Designated 87sqm freehold operating space adjoining main foyer Cleaning and storage rooms Five retail tenancies on ground floor

Price Expression of Interest

TIM CROOKS

ALEX COOK

D I R E C TO R

D I R E C TO R

+61 417 544 562

+61 467 600 610

tim@resortbrokers.com.au

alex@resortbrokers.com.au

FREEHOLD GOING CONCERN 46 ROOMS

1.23 HECTARES BUILT IN 2002

Emerald Explorers Inn Emerald, QLD

REF // FH006954

High Quality 46 Room Freehold with multiple income streams.

Incredible value opportunities like this property don’t come around often. Highly visible in a strong regional town, this business enjoys solid trade but also has a lot of potential.

Consider all the elements of a fantastic investment opportunity: a high quality property with nothing to spend, highly visible and located on the main thoroughfare of a booming town, high quality repeat business, and multiple income streams with potential to grow the business even further.

This is your chance to secure the freehold going concern to the Emerald Explorers Inn which, quite simply, is an outstanding motel which ticks all the boxes if you’re looking for a secure investment with great returns as it shows great value at less than $80,000 per key.

Emerald Explorers Inn has established a deserved reputation as one of the best motels in the Central Highlands region and enjoys strong repeat corporate clientele thanks to the quality of the accommodation, the first class facilities and the onsite restaurant which receives rave reviews from visitors and locals.

The motel is by far one of the best we have seen and this is because it offers free Wi-Fi, pool, complimentary airport transfers, room service and an exclusive dining experience at the Restaurant & Lounge Bar. It also provides coach parking and has beautiful accessible grounds.

Undeniable reputation with the reviews to support it 46 well-appointed rooms to accommodate all guests Incredible investment value at less than $80,000 per room Located 5mins from the airport and Emerald’s CBD Highly visible location near the junction of two major highways Multiple income streams from the restaurant and accommodation Located in the heart of the booming Central Highlands region, driven by industry, tourism and agriculture Property inspections are by appointment only

Net Profit $338,025 Price $3,500,000 +SAV

TRUDY CROOKS

NATHAN BENJAMIN

MANAGING DIRECTOR

BROKER

+61 477 882 210

+61 459 955 649

trudy@resortbrokers.com.au

nathanb@resortbrokers.com.au

M O T E20 L LEASEHOLD 25 ROOMS 24 YEARS 4 BEDROOMS 2 BATHROOMS

Outstanding 25 room leasehold motel On offer is the leasehold of this well presented 25 room motel with long term, 24 year lease in place and located walking distance to the Murray River and town facilities. Other features include Ashley’s Restaurant & Bar, a swimming pool, plenty of off street parking and free guest Wifi.

Running at 58.2% occupancy for the last financial year, the business has shown strong recovery post-COVID, additional revenue has also been driven during the last 12 months with the motel down the road having been converted to a backpackers. A fantastic time to buy.

Citrus Valley Motel Renmark, SA

Long term 24 year lease Ongoing refurbishments and replacements Popular tourist destination, only 3 hours from Adelaide Spacious 4 bedroom, 2 bathroom managers residence Strong post-COVID trading

KELLI CROUCH BROKER

Net Profit $280,286 Turnover $624,113 Price $695,000

+61 410 441 750 kelli@resortbrokers.com.au

REF // LH006968

Off the plan modern apartment buildings - caretaking only!

OFF THE PLAN

54 UNITS

25 YEARS

ResortBrokers is excited to present what is sure to be a hugely popular opportunity to purchase two Off the Plan, ‘caretaking-only’ management rights situated within the bayside community of Redland Bay. Both complexes are 25-year accommodation module agreements with no office hours nor requirement to purchase a manager’s unit or live on-site.

These smaller caretaking only businesses have become one of the most highly-sought after asset classes over the last 12-24 months as existing operators are looking to securely add scale to their existing management rights portfolio or for first time operators to get a foot in the highly competitive market.

Caretaking only, no office hours, no requirement to live onsite or purchase a manager’s unit Full 25 years accommodation module agreements Both building complexes are conveniently located right next door to each other with minimal caretaking duties.

Bay House is 30 residential units with an estimated completion date of February 2022.

Body Corporate Remuneration is $37,500 + GST. Breeze comprising of 24 residential and retail/commercial space with a gross starting care-taking salary of $30,000 +GST. Breeze due for completion in mid 2023

Net Profit $67,500

Bay House & Breeze Redland Bay, QLD

resortbrokers.com.au

REF // OTP006943

|

Price $337,500

JESSIE SHI

NATHAN EADES

BROKER

BROKER

+61 422 935 428

+61 448 339 920

jessie@resortbrokers.com.au

nathan@resortbrokers.com.au

resortbrokers.com.au

Dreamtime Resorts are seeking business partners for new acquisitions & future growth Dreamtime Resorts are specialists in the acquisition, management and promotion of premier Australian holiday accommodation. Active exclusively in the Management Rights / Strata sector, the hallmark of a Dreamtime Resort property is high quality, self-contained, apartment-style holiday accommodation... a home away from home.

Dreamtime Resorts are typically purchased and owned by a partnership of private individuals seeking return on investment. They are operated by experienced short-stay managers, often investors themselves. They are promoted by a highly experienced, centralised marketing team.

Dreamtime Resorts own and operate 12 properties along Australia’s Eastern coastline, in locations including the Gold

21

Coast, Sunshine Coast, Brisbane and Cairns, and including some of Australia’s largest and most successful Strata resorts such as Reflections (Coolangatta) and Turtle Beach (Mermaid Beach).

With 2 exceptional, large-scale, resort-style Management Rights businesses currently under contract, and plans for continued expansion in the coming year, Dreamtime Resorts are seeking new investors to join them on their growth trajectory. They are also seeking experienced managers, both on a contractual and business investment basis.

Dreamtime Resorts also assist independent Strata short-stay properties with promotion. If you are an owner of a shortstay Management Rights and feel you could benefit from professional, centralised marketing, we’d love to hear from you.

nb: Properties above are part of existing Dreamtime Portfolio

Accommodation sector investor looking for your next opportunity?

Experienced short-stay strata operator looking for your next role?

Get in touch with us today!

Aimee Knight (07) 5565 0700 aimee@dreamtimeresorts.com.au

Management rights owner looking for marketing assistance?

22

Faces of the Industry

The Outback Connection A dynamic business model underpinned by an unshakeable family bond has proven a powerful formula for outback accommodation gurus Judy & Damien Kennedy and Tanya & David Neal. While the road has been criss-crossed with challenges, opportunities and that occasional ‘leap of faith’, it’s been a heck of a ride!

resortbrokers.com.au

23

It was on a motorcycle tour across India in 2018 when Damien Kennedy took a phone call from his partner Judy.

She’d been trying to reach him for days. According to Judy, they’d been presented with an opportunity too good to pass up.

An established Longreach property was coming up for sale, and they had the inside running. According to Judy, Damien’s response was pretty much, ‘What have we got to lose? Let’s go for it!’ With business partners, Tanya and David already onboard, this was the start of the award-winning Saltbush Retreat in Longreach.

But how did they get to this point? Like any good outback folk, there’s always a great story!

“After five years of drought and terrible commodity prices, we made the difficult decision to sell our cattle and wheat farm. My uncle asked us to look after his Toowoomba property while he was in New Guinea.

This was a gift really, as it gave us breathing space to take stock and think about our next step, business wise,” Damien says.

“Over the next two years, we researched and weighed up the pros and cons for a multitude of potential businesses. We decided on motels, in particular motel leases, because of the return on investment,” Damien says.

“But that wasn’t the only factor.

A big attraction was the opportunity this business presented for our family. A business where we could work together with our children,” says Judy.

Damien and Judy Kennedy’s move into the industry in the early 1990s was more of a push than a planned decision.

resortbrokers.com.au

24

Faces of the Industry

In 1995 the Kennedys purchased the Emerald Town Motor Inn. With three kids and one on the way, their first venture into the accommodation business was indeed a family affair. With feet firmly grounded, they bought several other motel businesses in western Queensland and essentially honed their craft.

In what could be described as a serendipitous moment, they were presented with the opportunity to purchase the Longreach Motor Inn. A much larger establishment with 57 rooms and a 90 seat restaurant, they knew they would need help, but they were ready.

Help came in the form of David (Judy’s brother) and Tanya Neal. Their family business model was about to expand.

“Because of our close relationship with David and Tanya, we ran our ideas and concerns past them,” the Kennedys said.

“Straight away, they were enthusiastic and said they were keen to sign up as business partners, if we wanted them.

“Bloody oath, yes. We need all the help we can get,” Judy recalls.

Thus, began what is now a 14 year partnership built on shared goals and mutual respect. Each brought a different skill set to the business which strengthened the business enormously.

One non-negotiable goal shared by all four was customer service.

“We are passionate about ensuring every guest gets the best experience possible. This goes across all of our markets.

Whether they be corporate, group or road tripping families, we make it our mission to meet their needs,” Tanya says.

resortbrokers.com.au

25

The opportunity to purchase Saltbush Retreat as a family partnership in 2018 came at just the right time. They had all noticed the growing demand for high-end, unique accommodation.

Here was their chance to put all of their creative ideas to use and really build on that all important customer experience.

They amplified the experience in the already beautiful accommodation, ensuring it appealed to the more discerning guest. Guests rave about the authentic Slab Huts crafted using traditional outback building techniques.

They also love the beautifully presented Homestead Stables that recreate an outback stable-boy’s accommodation. And the Outdoor Bath Terrace, with its three clawfoot baths strategically positioned to capture the sunset, is extremely popular on Instagram.

2019 Queensland Tourism Awards, Outback Queensland Tourism Awards and the RACQ Peoples Choice award.

Strong relationships and a solid foundation, rooted in family values, is key to this successful partnership. Coming from a rural background, their sense of community is rock solid and all four are actively involved in their local events and services.

Diversifying their markets and growing their distribution relationships has helped them build sustainable businesses. They’re certainly not putting all their eggs in one basket! END

A massive career highlight has been the recognition by industry and guests with a host of awards.

These include Gold for their category in the

resortbrokers.com.au

26

Property Profile

Mitchell Grass Retreat Fancy a spot of luxury under canvas? Tanya and David Neal designed Mitchell Grass Retreat with three motivations in mind - escape, reconnect, relax. This was exactly how they felt as they took in a glorious sunset from their back deck.

It was the inspiration for bringing a new level of accommodation to Longreach.

escape to the country resortbrokers.com.au

27

After establishing Saltbush Retreat with Damien and Judy Kennedy, it’s safe to say that the ‘fire was lit’ and the stage set for Tanya and David Neal’s ambitious project to bring five star glamping to Longreach, the first of its kind in Queensland’s central west.

As the golden red hues changed to deep blue, they marvelled at the clarity of the outback sky at night; a sky free from light pollution found in towns and cities. This was the outback they wanted to share with their guests.

An authentic outback experience with low environmental impact and one that blends seamlessly into the Mitchell Grass landscape. Glamping tents ticked all the boxes.

“We wanted to create an outback oasis for our guests, an experience they would return to many times,” Tanya says.

“There wasn’t anything of its kind in our region and we knew there was demand. Saltbush Retreat is perfect for traditional high end markets with its beautiful rustic accommodation, close to all of the top attractions. But there was no eco-friendly offering, one that connected with the landscape and gave a real sense of space.”

Mitchell Grass Retreat was opened in July 2020 (mid global pandemic), with its 15 luxury glamping tents. All tents feature a spacious open plan design with kitchenette, beautiful ensuite and a private deep bath. It’s the type of retreat which puts guests directly in contact with nature, and stargazing around the fire pit is essential.

When guests travel to Mitchell Grass Retreat, they are seeking a break from the hustle and bustle of modern life - an oasis.

“We don’t have televisions in the tents, but we do have premium internet. Our guests give the thumbs up for the welcome detox from technology. Who wants to look at a screen when you can gaze up at a million stars,” David says.

“Guests come to spend quality time together. We’re also popular with small groups of friends and family.

It’s all about the relaxation and getting back to nature.

Our communal tent is stocked with books, board games and yoga mats, with a deck for shared gatherings and barbeques.

“And we’re just four and a half kilometres from the river, perfect for our newly mapped out river walk. We are working on some more walking and biking trails for our growing number of active guests,” Tanya says.

“It’s great to see that we are tapping into a totally new active market. There’s so much opportunity for new product development and partnerships. Our brains are buzzing!”

“At Mitchell Grass Retreat, it’s all about giving people the opportunity to reconnect with each other and with nature.

Hands down though, the most satisfying feeling we both get in delivering our glamping experience is seeing the change in guests. They arrive quite often looking tired but leave our retreat looking calm and relaxed. Job done!”

resortbrokers.com.au

C A R AVA N PA R K F R E E H O L D 30 POWERED SITES

11 CABINS

OWNER’S RESIDENCE 4 BED 1 BATH

Inverell Caravan Park Inverell, NSW

REF // F H 0 0 6 9 8 2

“Gem of the North-West” high quality freehold caravan park Here is an opportunity not to be missed with no money to outlay as all the hard work has been done. This freehold caravan park has undergone large scale improvements including new amenities and new cabins.

Inverell Caravan Park also known as the “Gem of the North-West” is located one kilometre south east of Inverell. The park is set upon more than 3 acres of immaculate lawns with a superb array of native trees and shrubs and picnic tables scattered throughout.

The amenities in the park have recently undergone extensive refurbishment with very high quality fixtures and fittings such as heated flooring, heated towel rails, marble look tiles and automatic lighting. There are five new replacement cabins bringing more new and modern features for accommodation in the park.

The park consists of 30 spacious powered sites with an un-powered section for campers. Set among the manicured gardens is also 11 cabins which cater for a different configuration from couples to families.

The swimming pool and camp kitchen in the park are both very well maintained and are kept to a high standard to give guests that old-fashioned service.

Inspection is a must!

No money to spend with high quality refurbishment Consistent year on year growth Very well maintained surrounds Spacious modern living accommodation Easily operated by a couple Top quality inventory Very popular tourist location

Turnover $627,263 Net Profit $333,340 Price $3,150,000

JASON VOGLER

DES FAGG

BROKER

BROKER

+61 427 431 213

+61 427 849 119

jasonv@resortbrokers.com.au

des@resortbrokers.com.au

Elevate Elevate your your hotel hotelbusiness business Choice Hotels Asia-Pac™™ JoinJoin Choice Hotels Asia-Pac

Rest, Relax, Rest, Unwind.

Relax, Unwind.

rnationallyInternationally recognised, recognised, superior amenities, superior amenities, modern facilities modern facilities

Rested.

Rested.Set. Set.Go. Go. Recognised Recognised for for value value and and reliability reliability

Rest, Relax, Unwind.

Relax, Unwind.

Rested.

Set. Go. and Rested.

Set. Go. Awarded Rest, for Awarded superior for service superior and service facilities, and facilities, our midscale our midscale rangerange caters caters for the for the discerning discerning business business and rnationally Internationally recognised, recognised, superior amenities, superior amenities, modern facilities modern facilities Recognised Recognised for for value value and and reliability reliability leisure guest leisure looking guestfor looking top quality, for top quality, drivingdriving exceptional exceptional roomroom nights nights andand high high volumes volumes ofofreturning returningguests. guests.

To enquireToabout enquire theabout region’s the region’s largest franchise largest franchise hotel group hotel group with with overover 300300 properties properties across acrossAsia AsiaPacific Pacific

visit JoinChoiceHotels.com.au visit JoinChoiceHotels.com.au or contact or contact a development a development director director Awarded for service superiorand service and facilities, our midscale range caters for the discerning businessand and Awarded for superior facilities, our midscale range caters for the discerning business

leisure guestfor looking for top quality, exceptional nights high volumes returningguests. guests. leisure guest looking top quality, drivingdriving exceptional roomroom nights andand high volumes ofof returning

enquire the region’s largest franchise hotel group properties across AsiaPacific Pacific To enquireTo about theabout region’s largest franchise hotel group with with overover 300300 properties across Asia

visit JoinChoiceHotels.com.au or contact a development director visit JoinChoiceHotels.com.au or contact a development director

Scott Armstrong Scott Armstrong

TimTim Mayoh Mayoh

Development Development Director,Director,

Development Development Director, Director,

Scott Armstrong Scott Armstrong

VIC, SA, WA, VIC,TAS SA, WA, TAS

TimTim Mayoh Mayoh

Development Development Director,Director,

Development Development Director, Director,

VIC, SA, WA, VIC,TAS SA, WA, TAS

NSW, NSW, ACT, ACT, QLD, QLD, NTNT

scott.armstrong@choicehotels.com scott.armstrong@choicehotels.com

tim.mayoh@choicehotels.com tim.mayoh@choicehotels.com

scott.armstrong@choicehotels.com scott.armstrong@choicehotels.com

tim.mayoh@choicehotels.com tim.mayoh@choicehotels.com

+61 409 735 +61231 409 735 231

+61 +61 448448 505505 660 660

+61 409 735 +61231 409 735 231

NSW, NSW, ACT, ACT, QLD, QLD, NTNT

+61 +61 448448 505505 660 660

FREEHOLD GOING CONCERN 41 ROOMS

2 STOREY

OWNER’S RESIDENCE 3 BED 1 FAMILY ROOM

Hotel Corones

Charleville, QLD

REF // F H 0 0 6 9 7 0

An outstanding accommodation business which caters for all guests from budget to luxury This is your chance to secure a grand piece of Australian history – the freehold to the historic Hotel Corones which stands sentinel over Charleville – in one of Queensland’s iconic country towns.

This remarkable hotel was built between 1924 and 1929 by Greek immigrant Harry ‘Poppa’ Corones, who arrived penniless and created this iconic hotel from the ground up. The famous property has stood the test of time and has been painstakingly restored and upgraded with all the modern conveniences of the 21st century, whilst maintaining its original charm.

This is not your typical country hotel. This is a major accommodation provider, disguised as a grand hotel. It is a stunning piece of architecture which will take your breath away. High ornate ceilings, flowing timber features, a grand staircase and one of the largest main bars in the southern hemisphere.

The current owners of the past six years have worked hard to restore the hotel and an extensive list of renovations have been undertaken to an extremely high standard, always maintaining original charm. Among its recent additions are unique, and private, champagne roof top baths for exclusive guests.

Grand historical property Increasing revenue year on year Upside through addition of breakfast & entertainment Huge turnover with opportunity to increase margins Extensive renovation program already completed Unique accommodation offering Suit a family operation or group 4 rooms for staff accommodation Extra shop space for further ventures

Turnover $3,023,078 Net Profit $323,033 Price $2,500,000 + SAV

JASON VOGLER

BROKER

+61 427 431 213 jasonv@resortbrokers.com.au

FREEHOLD MOTEL 26 ROOMS 17 ACRES LICENSED CAFE

Lookout Mountain Retreat Dorrigo, NSW

Set on top of mother nature’s masterpiece The Lookout Mountain Retreat is one of those truly special retreats that rarely come on the market and quite simply, the opportunity to secure this freehold is one not to be missed!

Located off the iconic Waterfall Way, which is widely recognised as one of Australia’s most outstanding road trips, the property also has potential for further expansion across the 6.32 hectares.

This is the perfect business with modern accommodations capturing one of Australia’s most stunning natural wilderness areas, solid revenue from multiple streams, an outstanding manager’s residence with views to die for and very little in the way of competition in the area.

The 26 units across various configurations have benefited from major renovations which have been carried out over the past five years and the rooms now have outstanding facilities with a country style feel. They’ve been given the full makeover with brand new furniture, bedding, lighting, modern kitchen appliances and new bathrooms.

The additional revenue streams are provided by the fully licensed café, a newly refurbished conference room, beautifully landscaped gardens which can host weddings, conferences and other special events.

Solid financials and future bookings Set on 17 acres for further expansion 760m above sea level on the Dorrigo Plateau 26 rooms of various configurations Fully licensed Waterfall Way Cafe Conference Room / Wedding Reception areas Limited accommodation competition in the area Surrounded by national parks & iconic waterfalls

Turnover $1,106,597 Net Profit $549,666 Price Expression of Interest

GREG JAMES

BROKER

+61 416 247 068 greg@resortbrokers.com.au

REF // FH006768

FREEHOLD GOING CONCERN 22 GUEST CAPACITY

52 HECTARES

OWNER’S RESIDENCE 1 BED 1 BATH

Salisbury Lodges Salisbury, NSW

REF // F H 0 0 6 9 5 9

Stunning 52ha wilderness retreat at the base of the Barrington Tops in the Hunter Valley.

A magnificent and tranquil 52ha Wilderness Retreat is up for sale for the first time in over 50 years!

This property, although partially run due to the vendors in semi-retirement has a world of opportunity for a buyer wanting to step in, pick up the business and start operating to its full potential.

With a 1 bedroom + loft owners residence including lovely kitchen, stunning balcony overlooking the property and huge fireplace, 2 x studio rooms below, 2 x Lake Lodges, 1 x Bush Nook (studio cabin) & Williams Lodge which consists of 3 bedrooms, 2 living spaces & 3 bathrooms, all rooms boasting spa’s, fireplaces and peaceful verandah’s overlooking the property and accommodating up to 24 guests, this is purely a piece of paradise in the Hunter!

A fully licensed restaurant with indoor and outdoor seating, featuring a separate amenity block and overlooking the billabong offers a capacity of 80 making this a premium location for weddings and events, and with an approved helipad meant previous guests to the restaurant would fly in by chopper!

Bordering the Barrington National Park there is only peace and quiet & with prime Williams riverfront land and 2 natural spas and swimming holes this creates an even more special surrounding for guests, not to mention plenty of wildlife including birds, macropods, koala, reptiles and you are surrounded by beautiful trees. To add to this there is a large flat area great for camping or glamping, approval for a mini golf course and a huge property offering the potential for expansion.

Make with it what you will! Don’t miss out and contact me now to secure an inspection or request information.

Stunning 52ha property in the Hunter Award winning 80 capacity restaurant Perfect location for wedding and events First time selling in 50 years Hand custom built lodges catering up to 24 guests Prime riverfront with natural spa and waterholes Approval for helipad and mini golf Huge amount of flats for camping or to expand

JACQUELINE FEATHERBY

BROKER

+61 424 497 056 jacqueline@resortbrokers.com.au

MANAGEMENT RIGHTS 28 TOWNHOUSES

4 LETTING

22 YEARS OWNER’S RESIDENCE

The Ridges on Pine Ridge Road Runaway Bay, QLD

This truly is a lifestyle business worth inspecting today Offered exclusively by ResortBrokers, we present the rare opportunity to acquire the management rights and associated real estate at The Ridges on Pine Ridge Road.

This premium complex consists of 28 individual lots, all with three bedrooms.

There is plenty of upside from engaging in sales and driving the repairs and maintenance income.

The facilities are so elementary to maintain, with only the swimming pool; it is safe to say the caretaker duties here are incredibly manageable.

Combined with no set office hours, this complex is the definition of “lifestyle business”.

Allowing you plenty of time to enjoy the best that the Northern Gold Coast area offers, from the beaches to the cafes.

One of the Gold Coast’s best-kept secrets. It is nestled amongst a nature reserve.

The current manager has lovingly maintained this 15-year-old development.

Current manager looking to pass on this lifestyle complex right in the growth corridor of the Gold Coast.

First to inspect will buy, as this ticks all the boxes.

88% on the income comes from the salary 22 years remaining No set office hours Truly manageable by one person Ability to close off the office from the main residence Low maintenance gardens and facilities Large three bedroom home Well maintained complex Secure and gated community

Net Profit $52,800 Price $800,000

PAUL MUELLER

BROKER

+61 439 255 507 paul@resortbrokers.com.au

3 BED 2 BATH

REF // MR006926

MANAGEMENT RIGHTS 25 APARTMENTS, 22 LETTING 24 YEARS 5 STOREY TOWER OWNER’S RESIDENCE 3 BED, 2 BATH

1 . 4 5 3 H E C TA R E S I T E

Sunseeker Beach Accommodation

Sunshine Beach, QLD

REF // M R 0 0 6 9 0 5

Location and lifestyle in one package the ideal sea change.

Located in the affluential and virtually COVID proof Sunshine Beach, Sunseeker comprises 25 apartments with 22 of these in the letting pool. Known as “Millionaires Row”, the complex is located amongst some of the best beachfront real estate in Australia.

Due to this prime location, the business attracts year round bookings and high occupany rates. Sunseeker is nestled on an elevated position with extensive ocean views of one of the coast’s best beaches.

Within moments to the beach and an excellent range of restaurants, cafés and boutiques, Sunseeker offers the very essence of beachside relaxation that the Sunshine Coast is famous for.

The agreements have 24 years to run and a generous body corporate salary is in place.

This complex is ideal and can be easily run by a management couple. Don’t miss out on this excellent opportunity and book in an inspection now!

This is a rare opportunity to secure a business in the tightly held Sunshine Beach market.

Stunning ocean views Long agreements Spacious three bedroom manager residence Solid letting pool Strong repeat and return business Prime year round holiday destination Valuation available

Net Profit $253,131 Price $2,416,281

GLENN MILLAR

BROKER

+61 412 277 804 glenn@resortbrokers.com.au

IAN CROOKS

CHAIRMAN

MORE INCOME HIGHER VALUE EASY TO RETROFIT EXISTING BUILDINGS

VALUE FOR TENANTS Speeds equal to or better than fibre Instant connectivity

If you outsource internet service provision in your permanent building, you are missing out on valuable income. With gigafy’s simple WiFi network system, you become the preferred ISP.

EASY TO Residents enjoy betterRETROFIT service. We take care of EXISTING BUILDINGS billing and support. You collect the $$$.

Full coverage, including common areas No contracts, flexible plans No set-up fees, no equipment needed

TENANTS VALUE FOR No dealing with telcos/ISPs Speeds equal to or better than fibre Instant connectivity

It’s whyFull gigafy’s WiFiincluding solutions are found coverage, If you outsource internet service provision in

VALUE FOR YOU on valuable income. With gigafy’s simple WiFi your permanent building, you are missing out

network system, you become the preferred ISP. Residents enjoy better service. We take care of

New on-going revenue stream

billing and support. You collect the $$$.

Proven 300-500% 5yr ROI

common areas

in more than 30,000 apartments and No contracts, flexible plans

450 venues across Australia.

No set-up fees, no equipment needed No dealing with telcos/ISPs

YOUR BUILDING COULD in more than 30,000 apartments and BE MAKING YOU MORE! 450 venues across Australia.

It’s why gigafy’s WiFi solutions are found

Faster, more reliable connections YOU VALUE FOR High tenant satisfaction and retention New on-going revenue stream Proven 300-500% 5yr ROI

Increased management rights resale value Faster, more reliable connections

Easy switch satisfaction between permanent and High tenant and retention

YOUR BUILDING COULD BE MAKING YOU MORE!

Increased rights resale value short-termmanagement uses Easy switch between permanent and short-term uses

gigafy.com.au gigafy.com.au 1300 1300 444 444 239 239 I S S U E N O. 9 8 _RESORTBROKERS.COM.AU

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36

The TOP END The Territory is a relaxed and friendly place, yet it also benefits from a robust tourism and overall economy, and the smart money is chasing accommodation assets in this great part of the world.

By Kelli Crouch

resortbrokers.com.au

37

Regional Spotlight

Top 5 Reasons To Invest

In The Territory KELLI CROUCH BROKER, SOUTH AUSTRALIA & NORTHERN TERRITORY

One of the things most people notice when they drive around the Northern Territory is obviously the immense sense of space, dotted with surreal landscapes. From the natural waterholes in the Red Centre to the sprawling wetlands of Kakadu and Litchfield National Parks, the NT has more diverse landscapes to explore than most countries. Every time I visit, I feel like I’ve stumbled into another world.

1.

HIGH RATE OF RETURNS SOUTH AUSTRALIA & NORTHERN TERRITORY

2.

STRONG DOMESTIC TOURISM MARKET

Then, when you finally bump into someone, they often have a bit of a story to tell. Sometimes it’s true, sometimes not. Either way, this place is a unique combination of the beautiful and the bizarre and this is helping drive the tourism market.

Like the rest of the country, the past 12 to 18 months have been impacted by COVID-19 but all the statistics are pointing to the fact that the Northern Territory has performed better than other states and territories in terms of tourism. The overall economy is also powering along with several significant projects driving business confidence in the region.

According to STR data, occupancy rates in the Northern Territory were at 58 percent for August 2021, which is the highest of all states and territories in Australia.

How did this happen?

Border closures and lockdowns have driven demand for domestic tourism and The Top End has been relatively COVID-free and therefore seen as something of a “safe haven” from the uncertainty of dealing with the most destructive pandemic in our generation.

Australians are embracing the “good old fashioned road trip” in the wake of international border closures and accommodation assets that are located in areas that are relatively COVID-free are benefiting from this as well.

The domestic market traditionally serves as the Territory’s largest source of visitors anyway, including intrastate travel

3.

MAJOR PUBLIC & PRIVATE PROJECT INVESTMENT

4.

GATEWAY TO ASIA

5.

STRONG MILITARY PRESENCE

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38

Regional Spotlight

within the NT, as well as from the rest of Australia. NT Tourism is running eight marketing campaigns, including a Drive Campaign, which is aimed at building awareness of the NT as a destination for a drive holiday with a difference. As the rest of Australia emerges from lockdowns and borders reopen, this will turbocharge tourism in this part of the world.

Because of this, I’m now getting enquiries from a really broad range of buyers and investors from interstate who are interested in assets across the Northern Territory and caravan parks, in particular, are in high demand right now.

I sold the lease to the Hidden Valley Holiday Park in Darwin recently to Lifestyle Villages, which has a large portfolio of similar properties across Australia. This rising demand for parks and resorts is also due to the fact that they often present multiple income streams and produce strong revenue. The cap rates on these regional caravan parks has remained largely unchanged for the past 20 or so years, until this year when they have tightened because of this surge in demand.

As soon as we list a caravan park in the Northern Territory, and especially if it’s good quality, we’re getting serious offers. In the past, parks would often take some time to get sold but now that’s changed dramatically.

Northern Territory Quick Stats OCCUPANCY RATE 58% DOWN 17% FROM AUGUST 2019

ROOM RATES $218 UP 25% FROM AUGUST 2019

REVPAR $127 DOWN 3.4% FROM AUGUST 2019

This is also down to the fact that over the past 15 years, the NT economy has experienced an ongoing pipeline of major project investments by both the public and private sectors, stimulating the expansion of the NT economy, exports and industries. It benefits from a strong resources sector and also because it is the gateway between Asia and Australia.

One piece of information that really caught my eye recently was a CoreLogic report that showed residential home investor funding in the NT soared by more than 82 per cent in August 2021, compared to the same month last year, as increased mining activity boosted the number of people moving from other states and competition for property.

For me, this really confirms the positive economic sentiment in the NT and also explains why the smart money is following that. END resortbrokers.com.au

No. Golden #2 Rule No. No. Golden Golden No. Golden Must show the Gross Income #2 #2 Rule Rule Rule and #2 not the Net Income

39

Agents may also claim any enable one party (but not expenses relating to cancellations that another) to breach or terminate Regional Spotlight Agents may alsoappointment claim any (but not • the enable one party (but not • one party areenable stipulated in the contract Agents may also claim any to • enable one party (but not expenses relating to cancellations that another) to breach or terminate act. another) to breach or termin If cancellation are not expenses relating toexpenses cancellations that another) to party breach(but or terminate • penalise one not are stipulated in the appointment to the contract the contract We have a long and proud association with the Top End and stipulated in the appointment, the are stipulated in the appointment toagent the contract Must Must show theshow Gross Income the Gross Income another) for breaching or Must show the Gross Income act.

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If a guest cancels their booking clients that clearly shows each amount is required to provide an account to their Berrimah, NT Alice Springs, NT NT the accommodation costs.

– Who isAccommodation Entitled?

Accommodation Cancellation Fees Cancellation Fees isKatherine, required to provide an account to their Accommodation Cancellation Fees and is penalised a cancellation If a guest with cancels their booking If a guest cancels their the agent has received and exactly how book clients that clearly shows each amount – Who – is Who Entitled? is Entitled?

If a guest cancels their booking clients that clearly shows each amount – Who is Entitled? is penalised with athe cancellation is penalised with abe cancellati feeand in accordance agent's anditthe agent has received and exactly how Booking cancellation fees for was paid out.

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Success Stories

FROM BRISBANE TO

small town living Here at ResortBrokers, we love hearing about how the lives of the people in our network have changed for the better with a move into, or within, the accommodation industry. These are the stories of those who decided to make a positive move.

MOVED FROM: BRISBANE TO STRAHAN, TAS LEANNE ROBERTS

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BUSINESS: FRANKLIN MANOR

DISTANCE FROM BRISBANE: 2,441KM

41

Most of us at some stage have experienced an epiphany which proves to be both life changing and positive and for Leanne Roberts, her big realisation occurred while driving through the forests of Tasmania.

Leanne was working in the retail industry in Brisbane and was on holiday in Tasmania when her next big life move dawned on her: she was going to buy an accommodation property on the Apple Isle and change her life.

“When I first visited the west coast of Tasmania in May last year, I couldn’t believe how beautiful the place was.

I felt like I was driving around the South Island of New Zealand,” Leanne Roberts said.

“I actively started looking for a property in February with a google search of ‘cottages by the sea’ and Franklin Manor came up and straight away I knew this was the place I wanted,” she said.

Franklin Manor is one of Tasmania’s most popular historic hotels and she bought the grand hotel through ResortBrokers and now has big plans to transform the property into a vibrant hub for both tourists and the local community.

Located adjacent to Macquarie Harbour, Franklin Manor was originally built for Strahan’s Harbour Master, Captain Edward Miles in 1896. The house has been extensively renovated to convert it into a hotel and provide communal sitting areas and access to the historical gardens shared with local birdlife.

The boutique historic hotel has 14 guest rooms, with a mix of accommodation types, many of which have serene garden views. The property also has a dining room, a cocktail bar and wine tasting room, a lounge room with open fire, a sitting room with a wood heater and a meeting room.

“My vision is to return Franklin Manor to its former glory as a real hub and meeting place for local people.

The dining room is only being used for breakfast but back in the day it was a highly rated and successful restaurant with a world class chef and I aim to bring this back so the local people have something special,” Leanne Roberts said.

“The same goes for the bar and wine cellar. We want to serve a wide variety of classic cocktails, beers and spirits and offer afternoon tea on the veranda. I want Franklin Manor to be a place that tourists and locals will want to visit and come back time and time again.”

With lockdowns coming to an end and state and international borders opening up, Leanne believes her timing with the purchase is a good one as people start to travel again.

“A few people I know questioned why I was buying a hotel in the current climate, but I think Tasmania and the west coast will be in high demand and we’re in a good position to make the most of that.

“I think everyone is starting to realise that once the vaccination rates hit a high level and people start moving again, Tasmania is going to benefit from all the pent up travel demand and accommodation operators will be the big winners.”

Leanne says the shift into accommodation and tourism feels a little “overwhelming” but she’s looking forward to the challenge and settling into running her new business in Strahan.

“I’ve already met with the staff and they’re fantastic so that will help a lot. I also have a lot of transferable business skills and experience and the main thing is we keep providing guests and locals with a great experience when they come here,” Leanne said.

“I’m so grateful to have this opportunity, I absolutely love the west coast. I’ve always wished for a property like this, it’s simply a dream come true.”

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FREEHOLD GOING CONCERN 26 UNITS

2 STOREY BUILDING

OWNER’S RESIDENCE 1 BED 1 BATH

Mavis Court Miles, QLD

REF // F H 0 0 6 8 8 7

Seven year old freehold going concern with commanding street appeal.

Exclusive to ResortBrokers is the opportunity to purchase a Freehold Going Concern with multiple income opportunities. The architecture designed structure has multiple uses and would be excellent for an owner operator or as an add on to other accommodation businesses in Miles.

Listed at less than real estate value with a holding income from longer term rentals within the energy sector. The current operation is limiting itself to a small portion of the available market share. The overnight, short term accommodation market is un-tapped, providing instant growth for experienced operators.

The main road location and commanding street appeal, will attract new business with the introduction of new singage and an online presence. Convert to overnight accommodation and reap the rewards quickly.

Can be strata titled Short or long term letting DA approved as a motel Huge upside to convert to a motel 7 year old building at less than real estate value Current holding income Excellent location and street appeal Commercial tenant for office space

Turnover $142,201 Net Profit $62,000 Price $1,800,000

JASON VOGLER

BROKER

+61 427 431 213 jasonv@resortbrokers.com.au

C A R AVA N PA R K 71 SITES

13 CABINS 29 YEARS

OWNER’S RESIDENCE 4 BED 1 BATH

Googarra Beach Caravan Park Tully Heads, QLD Location, profit and lifestyle wrapped into one package.

ResortBrokers are proud to exclusively bring to market the Leasehold of the Googarra Beach Caravan Park, situated between Hull Heads and Tully Heads.

Tully Heads is one of those extremely laid back coastal towns with fishing as its main recreation.

With 29 years remaining on the current lease, the park offers guests all the usual services and amenities, including guest laundry, camp kitchen, a licensed bar/cafe, fuel sales, kiosk and takeaway food and gas refills.

There is a great mix of powered sites (66), unpowered sites (5) and a range of cabins (13), plus annual rentals (16). The park is extremely popular with fisherman and holiday makers, all of whom seek out the beautiful climate that we enjoy in North Queensland. The majority of the internal roads within the park are sealed.

The park is currently managed by an owner couple. There are casual staff for the shop and casual cleaners for the cabins for the busy season. This business is showing a net profit of $213k with a net return in excess of 30%. Don’t delay in securing this opportunity with plenty of room for growth as domestic travel is set to grow exponentially with reduced restrictions with border closures etc.

Idyllic North Queensland location near beach front and boat ramps 29 years remaining on lease Healthy net profit of $213,000 showing +30% return All cabins owned by lessee and new since 2011 Licensed bar/cafe, shop, takeaway food, fuel and gas refills Extremely large 4 bedroom manager’s residence

Turnover $1,247,454 Net Profit $213,869 Price $695,000 neg + SAV

SHANE CROGHAN

BROKER

+61 418 451 006 shanec@resortbrokers.com.au

REF // LH006936

C A R AVA N PA R K 30 POWERED SITES 11 CABINS & VILLAS 4 ON SITE VANS 5 FISHERMAN’S HUTS OWNER’S RESIDENCE 3 BED, 1 BATH

Flying Fish Point Tourist Park Flying Fish Point, QLD

REF // L H 0 0 6 8 6 8

Profitable beachfront council lease caravan park with very low rent The location is purely exquisite, situated directly opposite the beachfront on the Flying Fish Point Peninsula, a short 5 minute drive from Innisfail. This park is not only popular with North Queensland locals due to it’s prime fishing location, it is a destination site for many intra/interstate visitors who return each year.

Featuring 30 Powered sites, 11 cabins & villas, 4 on site vans and 5 fisherman’s huts (with the on site vans and fisherman’s huts showing near 100% occupancy all year round), the park is currently run by the owners plus one casual staff member in order to allow them adequate time off for fishing and leisure.

The park contains a large, well presented amenities block, guest laundry, inground swimming pool, camp kitchen, tv/book exchange room and a 9 hole mini-putt golf course.

Showing a net profit of $224k per year, providing a return of 27%, The Flying Fish Point Tourist Park presents not only as a fantastic opportunity for an experienced operator, but a wonderful entry level opportunity for someone new to the industry, particularly those who want a profitable business AND love their fishing!!

Absolute beachfront location Long council lease in place - 18 years + 10 year option Low annual rent at $14,063 per year Healthy net profit of $224k Easily managed by a couple High level of return holidaying clientele Spacious 3 bedroom manager’s residence Great amenities throughout park

Turnover $387,500 Net Profit $224,570 Price $825,000

SHANE CROGHAN

BROKER

+61 418 451 006 shanec@resortbrokers.com.au

FREEHOLD 20 LUXURY VILLAS

2 4 S TA N DA R D V I L L AS

ACROSS TWO FREEHOLD LOTS

AWA R D W I N N I N G R E T R E AT

Saltbush Retreat Longreach, QLD

Award-winning boutique Outback property with outstanding net profit and nothing to spend This is your chance to secure one of Australia’s most popular Outback experiences which delivers outstanding returns. Saltbush Retreat is an award-winning property in Longreach, western Queensland, which has delivered a net profit of $1,650,000 over the past 12 months. This is an easy-to-run business and the experienced and highly motivated managers are keen to stay on and help with the transition.

Saltbush Retreat is rustic and beautiful accommodation which is truly unique.

It somehow manages to successfully blend Australia’s historical pioneering spirit with luxury and this is why it receives rave reviews from guests and from national and international publications.

Quite simply, this is a trophy asset which has won Queensland Tourism awards and is in immaculate condition. Call today to arrange an inspection.

Award winning boutique retreat property 44 keys, made up of huts, cabins and self-contained rooms Net profit of $1,650,000 over the past 12 months Incredible managers who want to stay Easily run, with no restaurant Fully upgraded property including new air-con & hot water systems Prime opportunity for expansion Recently painted and no other work to do Winner of two major Queensland Tourism awards Glowing review-style articles in The Australian, Australian Traveller and The Daily Mail UK Just take over this trophy asset and watch the dollars roll in!

Net Profit $1,650,000 Price on application

TRUDY CROOKS

M A N AG I N G D I R E C TO R +61 477 882 210 trudy@resortbrokers.com.au

REF // FH006983

MANAGEMENT RIGHTS 24 APARTMENTS, 23 LETTING 10 YEARS OWNER’S RESIDENCE 2 BED 1 BATH

Outrigger Bay Resort Byron Bay, NSW

REF // M R 0 0 6 9 7 9

Byron Bay is booming, here is your chance to invest in your dream business.

Proudly offered exclusively by ResortBrokers is the incredible opportunity to acquire the management rights for the Outrigger Bay Resort, in Byron Bay. Perfectly located on Shirley Street a short stroll to the main beach and all that Byron’s town has to offer. This securely gated, boutique resort style complex consists of 24 x two & three bedroom apartments all of which have a relaxed & comfortable feel, enjoying views of the beautiful resort style facilities. With all of the apartments managed in the holiday letting pool, the income is a solid net+$492k. With interest in the Byron Bay market at an all time high, this is the perfect opportunity to secure a high net, premium accommodation business & ride the local tourism wave.

The caretaking duties here are very manageable, with lovely landscaped grounds for the guests to enjoy, plus direct beach access. The business is also really well supported with repeat guests, direct bookings, wonderful owners and very consistent income.

Byron Bay is on fire right now, so here is your chance to invest in this lifestyle!

Incredible prime Byron Bay location High net +$492,000 p/a actual income 100% holiday letting - no owner occupiers Topped up agreements Easy to manage resort facilities Loads of upside post-COVID with event income Positive BC support & rapport First time to market in 8 years Consistent performer in a highly sought after market

Net Profit $492,794 Price $3,535,000

TODD WARNER

BROKER

+61 438 170 763 todd@resortbrokers.com.au

Extremely Rare Mooloolaba

MANAGEMENT RIGHTS 30 ROOMS, 26 LETTING

Absolute Beachfront Opportunity

24.5 YEARS 12 STOREY TOWER

OWNER’S RESIDENCE 3 BED 2 BATH

REF // MR006997

ResortBrokers proudly and exclusively presents to market the Management Rights to this high-performing boutique Mooloolaba Resort. A rare business generating an outstanding net income of over $500,000+ p.a.

Positioned for success on a beachfront location with unrivalled ocean views, settled amongst the cosmopolitan fanfare of Mooloolaba. The opportunity to acquire an asset of this class in such a prime location is one not afforded often.

The resort offers guests a unique concept in Mooloolaba holiday accommodation boasting the private apartment-style comforts and facilities, friendliness and personal service complimented by high end resort facilities.

Due to its central location, it attracts a strong mix of domestic holiday visitors, couples and families year round, driving increased occupancy, high-end room rates and stronger, more consistent trading.

This exclusive offering represents a unique opportunity to secure an exceptional business with an exceptionally high net income. Going concern Management Rights of this scale in the prime tourism destination of Mooloolaba are extremely rare and we recommend your serious consideration of this high-quality offering.

Strong consistent net profit Long tenure on agreements (accommodation module) Complimentary Body Corporate salary Large manager’s residence with ocean views No requirement to reside onsite Unbeatable beachfront location Rare opportunity for private acquisition in one of Australia’s most in demand markets

Net Profit $525,214 Unit Price $1,050,000 (valuation available) Asking Price $4,148,800

CHENOA DANIEL

GLENN MILLAR

BROKER

BROKER

+61 403 143 151

+61 412 277 804

chenoa@resortbrokers.com.au

glenn@resortbrokers.com.au

MANAGEMENT RIGHTS 21 APARTMENTS, 9 LETTING 10 YEARS OWNER’S RESIDENCE 2 BED 2 BATH

Albatross North

Mermaid Beach, QLD

REF // M R 0 0 6 9 3 7

Outstanding lifestyle business right on the sands of Mermaid Beach Albatross North is a very special business. One that offers its residents a taste of pure luxury coupled with a laid back vibe. Impeccably presented, this mediumrise complex hosts a total of 21 apartments. Of these, nine are in the holiday letting pool producing solid income returns due to their high-end quality and popularity which sees occupancy rates sitting around 75%.

With a great mixture of two and three bedroom high quality luxury apartments, repeat business from your guests is a given. With families, and local tourists all making up your clientele. The business is set up to be smoothly run by a couple with plenty of time and opportunity to enjoy the beach lifestyle it creates.

The incredible two bedroom manager’s unit has sweeping ocean views and direct access to the golden sand of Mermaid Beach. It is simply stunning and one of the best you will find on the coast.

Don’t miss out on this incredible opportunity, book an inspection today to see it for yourself!

Incredible absolute beachfront location +$178K net profit balanced with a lifestyle business Luxury building, high quality rooms & high quality guests Manager’s residence is superb with ocean views and direct beach access Ultimate Hedges Ave/Albatross Avenue address Growth opportunities via lock-ups to drive income Awesome repeat business + newly updated online presence Very easy to run business perfect for first timers or semi-retired

Net Profit $178,226 Price $2,500,000

TODD WARNER

BROKER

+61 438 170 763 todd@resortbrokers.com.au

MANAGEMENT RIGHTS 144 UNITS 75 LETTING MANAGER’S RESIDENCE 2 BED 2 BATH

SW1 & Fish Lane

South Brisbane, QLD Coming to the market soon high netting MR in the heart of South Brisbane SW1 and Fish Lane is a rare opportunity for the astute buyer looking for location and high netting management rights opportunities in the epicenter of Brisbane’s Management Rights capital, South Brisbane.

Featuring 75 letting appointments with strong residual income from car parks and storage cages, both SW1 and Fish Lane are underpinned by a combined BC salary of approx $225,000.

The current owners are looking for a change in lifestyle and with high net MR’s in Brisbane in huge demand, this is a opportunity not to be missed.

High net profit circa $400,000 Blue Chip South Brisbane location Strong & consistent letting pool Brisbane State High School catchment Diversified multiple Body Corporates Genuine reason for sale Property inspections will be by appointment only Register your interest with the agent

Net Profit Available to registered parties Price Contact Agent

NATHAN EADES

BROKER

+61 448 339 920 nathan@resortbrokers.com.au

FREEHOLD GOING CONCERN 12 ROOMS

OWNER’S RESIDENCE 3 BED 1 BATH

Moruya Motel Moruya, NSW

REF // F H 0 0 6 9 0 1

An escape to the country offering big potential Moruya Motel offers considerable potential to grow an already established operation while living the idyllic south coast rural lifestyle.

This easy to run motel is comprised of 12 well maintained units all with ground level access, an undercover BBQ area and inground saltwater pool.

Set on almost 10 acres of beautifully maintained grounds, it offers an incredible opportunity for further development (STCA). The lush, beautiful landscape would suit the addition of safari style glamping tents which has seen an increase in popularity over the last few years.

The property also offers the potential for additional revenue streams. In the past the motel has hosted weddings and events on the spacious acreage which could be further developed and enhanced. The 4 paddocks, fertile soil and rural zoning also presents an opportunity to raise livestock and grow crops.

Ideally located on the Princes Highway, the motel is close everything that the region has to offer. Moruya’s Airport is also only minutes away offering regular services to Sydney and Melbourne.

This is an incredible opportunity for an astute investor to take this motel to the next level.

Set on 9.93 acres with beautifully maintained gardens Huge potential to enhance and expand STCA Minutes from Moruya Airport offering regular flights to Sydney & Melbourne 12 room motel all with ground level units Enjoys regular & repeat NSW government clientele Princes Highway frontage close to Moruya township Spacious and private 3 bedroom owner’s residence Busy South Coast tourist hub with popular events calendar

Turnover $304,589 Net Profit $235,775 Price $1,995,000

RUSSELL ROGERS

SENIOR EXECUTIVE BROKER +61 416 166 909 russell@resortbrokers.com.au

FREEHOLD GOING CONCERN 15 NEW LUXURY APARTMENTS B E A C H L O C AT I O N C L O S E TO M E L B O U R N E

Ocean Grove Chalet

Bellarine Peninsula, VIC Lifestyle opportunity with potential to tap into the Melbourne market We are excited to present this luxury 15 room accommodation situated in the heart of Ocean Grove, one of the Bellarine Peninsula’s most vibrant and scenic towns. Situated just 100m from the shops and restaurants in the town centre and a short walk further takes you to (without question) one of the best, safest and most beautiful beaches in Victoria.

This easily run boutique business boasts breathtaking ocean views from the penthouses, including Point Lonsdale’s historic lighthouse and the Mornington Peninsula. The Chalet was built in 2018 by local high end builder LeMaistre and has been finished and maintained immaculately. Offering a versatile unit configuration, opening the door to a wide range of clientele, and providing allocated parking for each room and storage facilities available. There is also a swimming pool & spa facility, with a relaxation lounge and TV area for guests to share.

With the Bellarine Peninsula property market on a skyward trajectory, investment and ease of travel from Melbourne, this beautiful location on the doorstep of the Great Ocean Road will quickly follow suit with the Mornington Peninsula’s popularity.

This is the opportunity of a lifetime to own and run a business that will go from strength to strength, with very little competition at this level locally. Discerning guests looking for a luxurious getaway will not be disappointed and will certainly be looking to book again as soon as possible, and next time, they will bring their friends!

Great lifestyle and potential returns Magnificent location, minutes from town centre and award winning beach 15 immaculate luxury apartments – no more to spend Breathtaking ocean views Easy to run boutique business Steeped in local history Little competition at this level in the area Swimming pool and spa facility, with TV and lounge area Easily accessible from Melbourne via 2 ferry options and a direct road, all taking 1.5hrs Up and coming Bellarine Peninsula opportunity – get in now and watch it grow!

Financials on application Price $5,900,000

DAVID JEFFERIES

BROKER

+61 447 101 970 david@resortbrokers.com.au

54

On The Market

Regional demand still runs strong, but how long will the cheap money last?

Words_Trudy Crooks, Managing Director

From the start of this financial year, it feels like we’re all aboard a runaway train with a slew of sales going through to settlement and levels of inquiry which we’ve never experienced previously. A large percentage of the inquiry is from people who are reassessing the way they want to live, with COVID-19 the obvious reason behind that.

Barkly Homestead Tennant Creek, NT

Powerhouse by Rydges Armidale, NSW

55

Even as state and international borders open up and vaccination rates accelerate, there’s a real sentiment towards moving to regional areas and, for many of these people, the “no brainer” option is to buy an accommodation property which provides an automatic cash flow business, often with a home attached.

We also sold the freehold to the Powerhouse Hotel Armidale by Rydges in an off market deal which delivered an eight percent yield. The Powerhouse Hotel Armidale is a short distance from the CBD on the main New England Highway and is widely regarded as the best accommodation business in the region.

Naturally, there’s also that added advantage of “being your own boss” which helps, but what this all means is that there is a lot of activity in the market right now. This buyer demand means that many operators are choosing to put their businesses on the market to make the most of the fact that they can achieve a good price.

One other big trend so far this year is that caravan parks in regional destinations are emerging as some of Australia’s hottest commercial assets.

While the regions are benefitting the most from this intense demand, some of the more experienced and sophisticated operators are now looking to get back into the capital city CBD market, especially now that borders are opening and people are returning to the cities.

Directors Alex Cook and Tim Crooks, who handle our off the plan management rights sales in Melbourne, are reporting that the Victorian capital is set to undergo something of a renaissance after some pretty tough lock-downs.

Office workers have already started returning to the city centre and 200,000 dining vouchers worth up to $150 were handed out to Victorians in November to encourage people to dine at the city’s restaurants, cafés and bars.

All this activity means there have been some pretty big transactions taking place, and none bigger than the Barkly Homestead in the Northern Territory. This one sold at the $14 million asking price, which is a record for a roadhouse.

Barkly Homestead is a unique destination in itself, providing accommodation, food and fuel in one of the most remote regions of Australia. It is the only stop on a 450 kilometre stretch of road between Camooweal in Queensland and the Threeways Roadhouse near Tennant Creek in the Northern Territory.

Experienced investors and operators are looking to capitalise on a major surge in domestic and drive tourism. In one four week period after the start of the new financial year, we sold four regional caravan parks, including the Hidden Valley Holiday Park just outside Darwin, with a combined total of $22 million and there is another five parks under contract worth a total of just over $34 million.

The Hidden Valley Holiday Park was picked up by Lifestyle Villages, which has around 10 other similar properties across Australia. They’ve made no secret of the fact that they’re positioning themselves for a domestic travel boom once the country is fully open.

One final point to consider - RBA Governor Philip Lowe has dismissed market pricing for a rate increase next year as “a complete overreaction”, although he has softened its stance a little on its previous schedule of “not before 2024”.

Against a backdrop of a bullish economic outlook, he said: “borrowers need to be aware that rates will rise again – not quickly, and not next year; the most likely case is 2024, but it’s possible it’s 2023”.

So what does that really mean? It means that for those who are thinking about selling, it might be a good time to get your ducks in a row. The cheap money is out there right now, which is really helping fuel this demand. But will it be there after next year? END

Hidden Valley Holiday Park Berrimah, NT

resortbrokers.com.au

MANAGEMENT RIGHTS 75 ROOMS 5 LETTING 23 YEARS

Northcliffe Residences Surfers Paradise, QLD

REF // M R 0 0 6 9 1 6

Secure your financial future and beach lifestyle with this absolute beachfront management rights No requirement to live onsite - but honestly when you set foot onto this complex you will not want to live anywhere else!

Northcliffe Residences is a two year old building on the beach in Surfers Paradise.

On offer are two units - 1 x one bedroom and 1 x one bedroom plus MPR. With a strong BC remuneration of $168K, big opportunity to grow the letting pool, and 23 years remaining on the long agreements, this business really does tick all the boxes.

The common area facilities include a sauna, steam room, well equiped gym, and infinity pool overlooking the beach. In addition to these facilities, is the Residents Beach Club and Dining. An amazing facility where you and your guests can relax and unwind in comfortable surrounds while you take in the ocean views.

An adjoining private dining room with service kitchen can be booked for use for special dinner parties. The letting pool currently consists of 5 permanent let apartments.

This business can be easily managed by one person.

Have you been considering that seachange? Now is the time.

Opportunities like this seldom come along.

Secure your new Gold Coast beach lifestyle today.

Modern building by renowned architects Cottee Parker No requirement to live onsite Healthy BC remuneration of $168,746 Absolute beachfront location Building on small footprint Opportunity to grow letting pool

Net Profit $177,382 Price $2,065,000

STEVE CAMPBELL

BROKER

+61 407 220 668 steve@resortbrokers.com.au

57

Associate

Planning for Olympic Success.

Words_ Dennis Clark, CEO, Hotel Interiors

The Brisbane Olympics may be a decade away, but operators need to think hard about their FF&E offering as more rooms hit the supply chain.

One question I’m often asked by accommodation operators is ‘how often should I refresh my furniture, fixtures and equipment?’ to stay ahead of the competition.

The answer varies according to the type of property, how many rooms and what your direct competition is doing, however, the general rule of thumb is that you should be looking to do a refresh every five to seven years.

When Brisbane was announced in July as the Olympic Games host city for 2032, like most people here, I felt a sense of euphoria and pride. What I also feel now is a sense of urgency.

A decade may seem a long way off, but it will come around faster than you think and you might believe there is plenty of time to prepare for the big event.

Now is the time to consider the age and condition of your current stock and, I ask you, at what point do you refresh your existing product, and what is the flow-on effect of that timing to the presentation of that product, and subsequent booking rates, when 2032 finally arrives?

Hotel developers, builders and project managers are gearing up in preparation for the Olympics, with the number of new projects expected to skyrocket throughout Queensland in readiness for 2032.

More than 41,000 beds are needed just for Olympics officials to deliver the Games, with some operators already contracted for supply and more needed to sign on. Thousands of additional rooms will be required to accommodate spectators, visitors, other Games officials, team support staff and so on.

So what does this mean for the Management Rights community?

Operators need to take a long term view, with product updated via investment into the rooms to bring them up to a standard that is desirable to secure long stay guests over the Olympics period.

There is no shortage of room stock, and support and ancillary staff, who will be in Queensland for long periods in advance of the Games. In short, competition for these guests will be strong.

This is why you need to consider that five to seven year life cycle on your FF&E. Operators may need to be looking at refurbishing rooms sooner in the short term, and plan for a full refurb again pre-2032.

They key is to plan for success; with timing and budgeting of your refurbishment to ensure that your product is at a standard that enables you to optimise returns both now, and for event-related bookings in 2032.

HOTEL INTERIORS P 07 5514 8097 M 0420 257 022 ww.hotelinteriors.com.au

resortbrokers.com.au

58

Appointments

New Kids On The Block Our Queensland team has been bolstered by the addition of two new brokers who join ResortBrokers with an outstanding skill set from diverse backgrounds. Welcome to Frank Matus, who’ll be based in Brisbane, and Nathan Benjamin, who’ll cover Central Queensland.

Frank joins ResortBrokers’ Brisbane management rights team with perhaps the most diverse sales and marketing background, from an equally diverse range of locations, of any broker who has joined our team.

prove that I can successfully lead culturally diverse, highperforming teams and stakeholders towards challenging commercial goals.”

“A large part of what I’ve done consistently over the years is developing constantly as an expert integrator of sales, marketing, sponsorship, communications and event programs. This has given me the understanding of how to drive growth, profitability and brand awareness across a range of industries, delivering creative, return on investment-led strategies through superior relationship management.”

BROKER, BRISBANE

FRANK MATUS

“This experience has helped equip me for the transition into the accommodation industry and I’m really looking forward to hitting the road to get to know people and their businesses.”

He’s directed numerous sales, marketing and event projects in a range of sectors such as event operations, aerospace, building, construction, information technology, finance, gaming, mining, luxury travel, sustainability and wine. This passion to continually learn and challenge himself has led him to the Middle East, China, Europe and Australia.

Frank is a big part of ResortBrokers’ plans to scale up the business across Australia and he brings an exceptional skill set which will benefit all operators in Brisbane. His sales and marketing nous is complemented by this proven experience and he is a firm believer in the “client comes first, always” philosophy.

South East Queensland-born and bred, this is something of a homecoming for Frank after many years of chasing business opportunities around the world.

“I always knew I’d end up back in Brisbane at some stage.

I love the city and the people. The big thing I noticed about coming back is how genuinely friendly people are here. It’s made me feel very welcome and right at home again.

With an entrepreneurial mindset, Frank has proved himself to be a resourceful leader and problem-solver with a focus on developing client and industry relationships.

“The management rights industry is at an exciting stage right now.

A lot of people are moving here and investors are following that and these businesses are now becoming in very high demand.

“I’ve had the privilege of working in some of the most interesting places in the world and this has allowed me to

“And there’s a real buzz here now as well. With the Olympic Games in 2032, this is the place to be.”

resortbrokers.com.au

59

NATHAN BENJAMIN BROKER, CENTRAL QLD

Nathan joins ResortBrokers as part of our plans to scale up the business across Australia and he brings an exceptional skill set which will benefit all operators in the Central Queensland region. His sales and marketing nous is complemented by his proven experience as a professional photographer and you’ll find his attention to detail is second to none.

“My vision is to help people transition into, and out of, a successful accommodation business and make their path to both as problem free as possible. I’m all about making connections with people that last. If you want to consider your next move in business, let’s talk.”

Like many of the new brokers who join ResortBrokers, Nathan comes from a diverse business background but the one constant is that he ensures his clients remain top of his priority list and communication remains the key.

He’s worked in real estate, is an accomplished professional photographer and has been part of an event that aims to educate tech entrepreneurs – Tech Startup Weekend – and help them on the road to success with his marketing knowledge and experience.

“I’m all about making connections that last. In any business, this is the key to success along with maintaining communication with people. Then you have to back that up with good old fashioned hard work and be prepared to go the extra mile. I want to help people to think differently. My vision is to inspire others to think differently and to give them the best path to succeed and achieve more and make those lasting connections.”

Nathan’s core business fundamentals means he arrives at ResortBrokers well equipped to become a successful motels and caravan parks broker.

“I’ve always been fascinated by the accommodation and tourism industry. For me, it’s a dynamic industry which is vitally important to the Australian economy and way of life.

“I’m not sure whether I was drawn to this job, or whether the job followed me. It was probably a bit of both, but either way, I’m really looking forward to getting on the road and meeting everyone in our network.

“ResortBrokers is also big on driving its collaborative culture and this was one of the big reasons I took the plunge to join the team. There are 30 or so other brokers all over the country and the fact that we have the opportunity to work together for our buyers and sellers is a real plus.”

Away from work, Nathan is a real outdoors type who is a keen fitness enthusiast.

“I love anything to do with the beach and most weekends, I’ll be in the water or running and walking on the beach. It’s all about connecting with nature and this is where I feel centred and ready for anything.” END resortbrokers.com.au

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McBride Legal is a specialist commercial and litigation practice, acting for small to large size commercial enterprises. McBride Legal provides a full suite of commercial legal services to its clients and looks for a practical commercial solution to any situation. The firm strives to provide quality legal services in an efficient manner with a focus on client service that sets it apart from other professional service providers.

Acc. Spec. (Bus.) - Qld Special Counsel, McBride Legal M. 0410 644 246 E. davidadolphe@mcbridelegal.com.au

David Adolphe is a Queensland Law Society Accredited Business Law Specialist and has been in practice for 20 years. He has advised clients in all manner of business transactions and takes a specific interest in Tourism and Hospitality matters. David takes a practical approach to delivering the best possible strategic legal advice to clients on all aspects of business and commercial law matters.

McBride Legal Level 15, 239 George Street, Brisbane, Qld 4000, Australia 07 3193 9800 www.linkedin.com/company/mcbride-legal

resortbrokers.com.au

61

Events

Let's Get Social!

As industry leaders, we’re always looking to host events to help educate everyone in our network and we also attend Australia’s major conferences.

Winner Third Year Running!

ONSITE MANAGER’S INDUSTRY EXCELLENCE AWARDS BRISBANE ResortBrokers added another major industry award to its cabinet when it was named as Broker of the Year for 2021, for the third year running, at the recent Onsite Manager’s Industry Excellence Awards. Around 200 people attended the gala event at The Warehouse and the Broker of the Year award was one of six categories that were announced on the night.

ARAMA QUARTERLY ROADSHOW EVENT BRISBANE ResortBrokers was strongly represented by our Brisbane team of Nathan Eades, Jessie Shi, Jeff Keast and Frank Matus at this event which attracted a 150 strong crowd. Nathan was also part of the panel which held a Q&A with attendees to discuss the state of the industry and what lies ahead for the management rights sector.

PUTT PUTT GOLF DAY BRISBANE More than 70 management rights operators turned out for the fun day which was hosted by the ResortBrokers Brisbane team. At these special events, we like to get everyone together to simply have a fun day out - no presentations, no sales pitches, no spreadsheets and even the putt putt itself is optional!

® resortbrokers.com.au

Do you want to be successful?

Are you incredibly tenacious?

Do you always want to learn?

Can you handle rejection?

Are you ambitious?

Are you quick on your feet?

Are you hardworking?

WE’RE HIRING N E W B R O K E R S N AT I O N W I D E

ResortBrokers is the No.1 privately owned commercial brokerage specialising in the accommodation industry.

We are looking to grow our team in key locations up and down the eastern seaboard to meet the increased activity we are experiencing across the country.

This is an on-the-road role where your days are spent building relationships with clients and putting deals together. You will need minimum 3 years sales experience, although it doesn’t need to be industry-specific.

Call our Operations Manager, Marissa, on 0437 198 164 or send a CV to marissa@resortbrokers.com.au BENEFITS OF WORKING WITH RESORTBROKERS:

FLEXIBILITY AND FREEDOM

A RECOGNISED AND RESPECTED BRAND

CONTINUOUS TRAINING AND SUPPORT

AN ATTRACTIVE RETAINER

AN IN-HOUSE MARKETING AND ADMINISTRATION TEAM BEHIND YOU

UNCAPPED EARNING POTENTIAL THROUGH A GENEROUS COMMISSION STRUCTURE

®

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National Property Valuation Experts Acumentis is Australia’s only independent, locally owned, ASX listed property valuation and advisory firm for all property types - Residential, Accommodation & Tourism, Commercial & Rural Agribusiness.

More than 300 property professionals deliver property-related insightful research, advice, and property valuation services across the nation, from over 45 metropolitan and regional offices.

Acumentis National Contacts

Damien Burley National Director Regional Operations — Port Macquarie P: 0412 217 336 E: damien.burley@acumentis.com.au

Nathan King

Annette Smith

P: 0416 082 499 E: nathan.king@acumentis.com.au

P: 0409 068 485 E: annette.smith@acumentis.com.au

Andrew Kemp

P: 0405 415 902 E: andrew.kemp@acumentis.com.au

Mark Robins

P: 0421 566 614 E: mark.robins@acumentis.com.au

Craig McMillan

David Duffield

P: 0419 025 491 E: david.duffield@acumentis.com.au

Tax Depreciation

Insurance Valuations

1300 882 401 • www.acumentis.com.au

P: 0400 349 285 E: craig.mcmillan@acumentis.com.au

Self Managed Super Funds

64

Finance

Valuer’s Market Update: Liam Greentree, Colliers Caravan parks in regional destinations are emerging as some of Australia’s hottest commercial assets with experienced investors and operators looking to capitalise on a major surge in domestic and drive tourism created by the lockdowns and international border closures.

ResortBrokers reports that in the first quarter of the financial year it has sold and settled five regional caravan parks with a combined total of $31.9 million, and has another 10 parks under offer or contract worth a total of just over $34 million.

The Colonial Tweed Holiday and Home Park at Tweed Heads, NSW, the Hidden Valley Holiday Park in Darwin, Wild River Caravan Park at Herberton in far north Queensland and the Chinchilla Tourist Park in the Western Downs region of Queensland all reportedly changed hands quickly as major investors actively chase these assets in a rapidly changing market.

Liam Greentree, Colliers Associate Director and valuer who specialises in caravan parks said investors have become very active and this was putting upward pressure on asset prices.

“Demand for caravan parks has been increasing over the past four to five years, however, the demand has increased exponentially in the past 12 to 18 months despite the COVID-19 lockdowns,” Mr Greentree said.

“Investors are taking a longer term view on the market with a majority of caravan park operators experiencing significant increases in average room rates and occupancy levels between the varied lockdowns over the past 18 months,” he said.

“This occurred despite some border restrictions still being in place and should increase again once the lockdown measures and border restrictions end.

Investors are also of the opinion that there will be continued interest and appetite for domestic travel over the coming years.

As for which types of investors are driving this demand, Mr Greentree says there’s a mix of different players who are attracted to what is now perceived as a “safe” asset class.

resortbrokers.com.au

“There are a number of existing entities competing for caravan parks, including Ingenia Communities, Tasman Tourism, Hampshire, NRMA and Discovery Parks,” Mr Greentree said.

“There has also been an increase in appetite from smaller existing operators who are looking to expand their portfolio, as well as new entrants attempting to access the space.”

This has had the obvious effect of increasing demand for caravan parks and, as a result, capitalisation rates are shifting in a big way. Australia has about 2,400 holiday and caravan parks, most of which have seen demand pick up in 2020 and 2021.

“Cap rates are definitely tightening and, when coupled with increases in both revenue and net operating income levels, this has seen the prices/values rise accordingly.

“Yields for high-quality coastal parks now range between circa 6.5% and 7.5% if above $10 million.

Yields have softened in some regional locations, with lower price quantum and reduced buyer sentiment “The entities also take into account the number of permanent residents and long-term casuals (annuals) in these caravan parks, as they have been able to receive a consistent income stream from these sites despite the lockdowns.”

As for valuation methods, Liam Greentree says the pandemic has forced adjustments in the way he goes about valuing caravan and tourist parks.

“In instances where the caravan park has been impacted by lockdowns, the current trading position is not considered a true reflection of sustainable levels,” he said “Appropriate adjustments are then required to return to that level, which can be difficult given the continued uncertainty of some of the lockdown and border restriction measures.”

C A R AVA N PA R K 27 POWERED SITES 13 CABINS 8 STUDIO UNITS

Monto Caravan and Cabin Park Monto, QLD

Queensland freehold caravan park under $2 million with a 23% return on investment.

Offered by ResortBrokers is the opportunity to acquire the Freehold Going Concern of the only caravan park located in the bustling town of Monto in the North Burnett Shire.

The property consists of 27 powered sites, 10 exceptional cabins with full facilities, and 3 budget cabins, 2 blocks of 4 studio units with a shared bathroom in each, ideal and constantly in demand from workers and 6 unpowered sites.

The owners have extensively renovated and upgraded the park buildings and gardens and it truly presents in immaculate condition , there is virtually nothing for the new owners to do but book in and look after the many regular repeat guests.

The park is situated in a lovely quiet rural setting in the town confines within easy walking distance to all that Monto has to offer including a thriving main street with an extensive range of shops, eateries and plenty of service businesses.

The residence and reception/office is a modern brick building with 4 bedrooms that would suit a family or even two couples, there is plenty of scope to accommodate all buyers.

This is an exceptional opportunity and an inspection will not disappoint.

Excellent freehold park with a 23% return on investment Presents beautifully; nothing to do Spacious shaded sites that guests love Walk to town for all Monto has to offer Easy day trip to multiple national parks in the area Could be run under full management and still return 17.5% on investment Huge demand for additional cabins with plenty of room for expansion

Turnover $577,870 Net Profit $417,999 Price $1,750,000

GRANT SULZBERGER

BROKER

+61 455 053 832 grant@resortbrokers.com.au

6 UNPOWERED SITES MANAGER’S RESIDENCE 4 BED, 1 BATH

REF // FH006991

MANAGEMENT RIGHTS 114 TOWNHOUSES 92 LETTING 20 YEARS MANAGER’S RESIDENCE 4 BED, 2 BATH

Exceptional Opportunity Griffin, QLD

REF // M R 0 0 6 9 4 9

Two permanent townhouse complexes producing a solid net income.

Both of these established estates were developed by Philip Usher Constructions who is renowned in the industry for producing well-planned communities, supported by manager friendly caretaking and letting agreements. They have consistently high performing letting pool numbers, underpinned by solid Body Corporate salaries and are situated in a burgeoning location in high demand with tenants. Currently managed by a husband/wife team this is a great acquisition for a couple or would suit a management team structure.

The combined businesses offer a total of 114 townhouses with 92 in the letting pool. The dominant complex contains 77 modern three and four bedroom designs. Four minutes’ drive away is the smartly presented, secondary complex which consists of a further 37 x three and four bedroom designed townhouses. These are both run under separate Body Corporate Schemes on 25-year terms.

Boasting a combined net profit over $350,000 is evidence of the hard work the husband and wife team have invested to get these complexes performing so strongly.

114 units across two complexes producing a solid $350,052 net income Very reasonable multiplier for permanent management rights of this size and scale with 14.6% ROI 92 units in the letting pool with some outside agents to lure back offering upside Low rents make for high occupancy and your pick of quality tenants Both complexes developed by Phillip Usher

Net Profit $350,052 Price $2,385,000

JEFF KEAST

BROKER

+61 414 669 007 jeff@resortbrokers.com.au resortbrokers.com.au

MANAGEMENT RIGHTS

Incredible Opportunity For Growth - Less Than 4x Multiplier!

ResortBrokers are proud to exclusively present this rare opportunity to secure a well-established management rights business at Kangaroo Point.

Currently trading as short-term management rights, the business performs outstandingly under the current market condition by generating an actual net profit of $390,000. An experienced onsite operator has the opportunity to drive revenue even further to achieve the pre-COVID figure or easily convert to permanent letting which is still able to generate solid ROI.

Actual up to date net profit $390K (incl. over 52% contributed by body corporate salary) Prime location in one of the most sought after inner-city areas No need to maintain gardens and plenty of upside Buy now on COVID figures and enjoy the upside growth or convert to permanent letting business.

Large manager’s lot includes real estate (all on title) over three levels Easy walk to the CBD and the Gabba Part of Brisbane 2032 Olympics Precinct

When Opportunity Knocks, Open the Door!

Kangaroo Point, QLD

Net Profit $390,360

|

Price $2,500,000

JESSIE SHI

TODD WARNER

BROKER

BROKER

+61 422 935 428

+61 438 170 763

jessie@resortbrokers.com.au

todd@resortbrokers.com.au

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Sandra Swatton

Co-Founder & Director

nuvho.com | sandra.swatton@nuvho.com | +61 420 589 946

MANAGEMENT RIGHTS 36 ROOMS 24 LETTING 23 YEARS 2 BEDROOMS 1.5 BATHROOMS

Coral Cove Apartments Bowen, QLD

Absolute Beachfront Lifestyle Top of the Whitsundays.

ResortBrokers have been appointed to take to market the management rights and associated real estate of Coral Cove Apartments. A 4.5-star resort situated right on the very edge of the sparkling Coral Sea. This is a truly attractive building set in tropical landscaped gardens in the very popular and sought-after region of Bowen in the Whitsundays.

Offering stunning sea views over the magnificent turquoise waters and comprising of either one, two or three bedrooms, every apartment is self-contained and provides a spacious and modern design. The resort facilities comprise of a resort style pool and spa and secure undercover car parking.

Absolute beach-front location Good mix of holiday & corporate letting The quality building presents beautifully & easy to manage by a couple Minimal office hours, this complex is the definition of a “lifestyle business” Repeat clientele Luxury, spacious 2 bedroom manager’s unit with sea views & private garden

DES FAGG

Net Profit $274,307 Turnover $492,681 Price $1,750,000

BROKER +61 427 849 119 des@resortbrokers.com.au

REF // MR006957

MANAGEMENT RIGHTS BUSINESS ONLY

Mint Apartments prime city fringe and a strong letting pool.

55 APARTMENTS

Mint Apartments, a highly sought after business only management rights positioned right on the water front and in a CBD location in Townsville.

28 LETTING

21 YEARS

Mint is home to a variety of two and three bedroom apartments, all configured to complement a modern, busy lifestyle. They feature generous, open-plan layouts with large entertainment balconies and premium fixtures including split air conditioning, modern caesar-stone kitchen benches and appliances throughout.

This business has steadily increased in income and will continue to grow in the future. A guaranteed BC salary with an ongoing annual increase with further income opportunties give this business a perfect work/life balance.

Mint Apartments Townsville, QLD

REF // MRB006988

Solid BC salary increase 3% annually 21 years on the agreements No need to live on site Additional market streams of income real estate sales Supportive Body Corporate

Net Profit $191,494 Turnover $206,959 Price $925,000

DES FAGG BROKER +61 427 849 119 des@resortbrokers.com.au

70

Finance

MCG MCG QUANTITY QUANTITY What is a tax SURVEYORS SURVEYORS depreciation schedule

Flat Rate Fee

and how can itINSURANCE increase CONSTRUCTION CONSTRUCTION COST & INSURANCE COST & ESTIMATING SERVICESESTIMATING SERVIC your tax return?

Words_Mike Mortlock, Quantity Surveyor and Managing Director of MCG Quantity Surveyors

PH: 1300 795 170 We We specialise specialise in preparing in preparing Accurate Accurate WWW.MCGQS.COM.AU Insurance Insurance Replacement Replacement Cost Estimates.

Cost Estimates.

INSURANCE@MCGQS.COM.AU MCG MCG QUANTITY QUANTITY Flat Rate SURVEYORS SURVEYORS Australia Australia wide service wide service Fee

CONSTRUCTION CONSTRUCTION COST & INSURANCE COST & ESTIMATING INSURANCE SERVICESESTIMATING SERVIC

PH: 1300 795 170 We We specialise specialise in preparing in preparing Accurate Accurate WWW.MCGQS.COM.AU Insurance Insurance Replacement Replacement Cost Estimates.

Cost Estimates.

83% 83% of Australians of Australians are currently are underinsured. currently COVID underinsured. has INSURANCE@MCGQS.COM.AU increased this COVID percentage.has Australia Australia wide service wide service

Flat Fee for Insurance Replacement FlatCost Fee Estimates* for Insu

83% 83% of Australians of Australians are currently are underinsured. currently COVID underinsured. has increased this COVID percentage.has

Flat Fee for Insurance Replacement Flat Cost Fee Estimates* for Insu

Sydney Sydney | Melbourne | Melbourne | Brisbane | |Adelaide Brisbane | Canberra | Adelaide | Newcastle || Perth Canberra | Parramatta | Ne

resortbrokers.com.au Sydney Sydney | Melbourne | Melbourne | Brisbane | |Adelaide Brisbane | Canberra | Adelaide | Newcastle || Perth Canberra | Parramatta | Ne

71 71

Albert Einstein said if you can’t explain something simply, then you don’t understand it well enough. So, it’s time to test my understanding of tax depreciation schedules!

A tax depreciation schedule is simply a report detailing the depreciation entitlements available to you within your commercial premises whether it be of a freehold going concern, freehold passive investment or a leasehold.

The depreciation entitlements can be broken into two simple categories; 1.

Capital Allowances (Division 43)

Capital allowances are based on the historical construction cost of the property, excluding the value of plant and equipment assets, which we’ll come to in a moment. Capital allowances can be claimed on short term accommodation property, where it was constructed between the 15th of September 1987 and the 26th February 1992 at a rate of 2.5% over the next 40 years.

Any similar property constructed after the 26th February 1992 will attract the rate of 4% over the next 25 years. For all other types of accommodation premises the applicable rate is 2.5% over 40 years. You can also claim on any subsequent qualifying renovations or improvements completed by either the previous owner or yourself.

So, to put it another way, say your property was built in 1996. We will estimate the cost to build the property at that time, and you’ll be able to claim 2.5% of the value each financial year. So, if the total build cost was $500,000, this would attract a 2.5% deduction of $12,500 each financial year for 40 years from the date of construction.

2.

Plant & Equipment Items (Division 40) Plant & equipment items are generally ‘loose assets’ or control panels for automated systems as defined by the Australian Taxation Office (ATO). The ATO publishes a list of these assets every year around July.

In accommodation & hospitality premises, the most common plant assets are; •

Bathroom assets

•

Air Conditioners

• Furniture •

Hot Water Systems

• Carpets •

Blinds or Curtains

•

Guestroom assets

•

Kitchen assets

•

Food preparation and service assets

•

And many more!

These assets are estimated as part of a depreciation schedule, and you’ll generally be able to claim between 100% and 20% of the estimated residual value each year.

Each plant and equipment item has a different depreciation rate, but we’re sticking with an overview here. The rules for plant and equipment are changed every so often by the ATO. Therefore, a tax depreciation schedule includes these two components of depreciation and their estimated value. The schedule itself will show 40 years’ worth of depreciation in two different accepted methods. One tends to be more aggressive in the first few years (see diminishing value) and the other maintains a more constant level of depreciation (see prime cost).

Now that we know what a depreciation schedule is, how can it increase your tax return?

We’re not qualified to provide accountants advice, so you should always speak with them to find out the EXACT impact on your personal situation. Essentially though, the total depreciation comes off your taxable income. Let’s run through a quick scenario.

Case Study: Short term accommodation property built in 1990.

Freehold Going Concern purchase in 2018 for $2.6 million Total Deductions = $966,000 First Full Year Deductions = $100,000 First 5 Years Deductions = $352,000 *Figures above calculated using the Diminishing Value Method

Based on this scenario, a company tax rate of 30% and without any additional deductions the depreciation entitlement for this purchase will equate to an additional $30,000 in the business tax return.

The most important thing is to contact a quantity surveyor for an indication of the deductions you might have available to you, as the tax savings can make a huge difference to your investment cashflow and or convert the pain of a trip to the accountant into pure joy!

One last thing to remember, as Quantity Surveyors we also specialise in calculating an accurate replacement cost of your property for insurance purposes. This report takes into consideration the demolition and removal of debris, reconstruction costs of a new build, consultants and preliminary fees, and escalation costs all at a fixed rate of $600+GST. As 83% of all Australian property is under-insured, we are here to make sure you have the right cover for your investment.

Mike Mortlock is a Quantity Surveyor and Managing Director of MCG Quantity Surveyors. MCG Specialise in Tax Depreciation Schedules and Construction Cost Estimating.

You can visit them at www.mcgqs.com.au resortbrokers.com.au

72

Legal

Restaurants and Licensed Premises in Motel Transactions Words_David Adolphe, McBride Legal

Freehold or leasehold motels often include a restaurant and licensed premises. These premises can add value to a motel in providing more services to guests and potentially setting the motel apart from local competitors. However, there are additional factors a Purchaser should consider in purchasing a motel which also includes these types of business operations and premises.

Some important issues to consider are:• Stock, plant and equipment • Requisitions • Licensing • Lease • Employees.

Stock, plant and equipment Stock for restaurants and licensed premises can be significant so the parties will need to consider whether the costs of stock will be included in the purchase price or paid in addition to it. If paid in addition to the purchase price, then a stock take will usually be undertaken the day before completion. If included, the Purchaser should require a special condition in the Contract that the Vendor will be required to maintain usual levels of stock until the completion date so that the Purchaser will be able to commence trading in the usual way on completion.

Plant and equipment will usually be added to the inventory of the motel. It will be important to inspect this part of the plant and equipment carefully to understand its condition and whether it will pose any regulatory compliance issues (for example seals in fridges or filters in extraction fans may require cleaning or replacing).

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Requisitions or Work Orders In Queensland, ‘requisitions’ in a Business contract refer to lawful demands, notices or orders issued by a local authority.

This is different from ‘requisitions’ in NSW Business and Land Contracts which refers to ‘requisitions on title’ delivered by a Purchaser to a Vendor. In NSW, the standard Business Contract refers to ‘work orders’ being a valid direction, notice or order that requires work to be done or money to be spent on or in the Business.

The Business Contracts used in each State provide different obligations with respect to requisitions or work orders but it is important that Vendors and Purchasers are aware of their respective obligations.

Purchasers should undertake careful inspections of restaurant and licensed premises and arrange for Council inspections where available as part of their due diligence enquiries to determine any costs of satisfying any requisitions or work orders.

Purchasers can then consider those costs in deciding whether they are satisfied with their due diligence enquiries.

For Vendors it is important that such inspections are undertaken as part of their Vendor due diligence prior to listing a motel for sale to determine any costs they may be liable for under the Contract and whether works should be undertaken at an early stage to ensure they receive the maximum value in the sale of their business.

Often there are requirements for periodic inspections by local councils and theses should be checked by Vendors and requested by Purchasers as part of their respective due diligence.

73 73

Licensing Restaurants and licensed premises in motels will require a food license and a liquor license for operation.

Food licenses are issued by local Councils. Sometimes they are transferrable and sometimes a new application is required by a Purchaser.

In some cases, Council requires an inspection to be undertaken as part of a transfer or grant of a new license.

Requisitions or work orders may be issued as a result of such inspections.

Liquor licenses are issued and transferred by State government departments. Typically, a special condition will be added to the Business Contract to make completion conditional on the grant (or provisional grant) of the liquor license.

There are different types of liquor licenses which may be applicable depending on the nature of the licensed premises and activities to be conducted such as provision of a minibar; a licensed restaurant or café; a pub or bar; a commercial hotel or tavern; or a nightclub.

Purchasers should check the different license requirements for the applicable type of license required. For example, they may be required to lodge a risk assessment management plan with the

state regulator. Purchasers should also consider whether they will have the necessary staff and managers holding the correct approvals (and living at the right location in the case of certain approved managers) to satisfy liquor licensing requirements. Purchasers should also consider at an early stage whether they may have any issues in satisfying any ‘fit and proper person’ checks with owners or managers to obtain the necessary approvals.

Lease Usually, the lease of the motel includes the restaurant and licensed premises.

While the lease should be a specialized motel lease, it should also include some provisions relating to the restaurant and liquor license. For example, the lease may need to specifically provide that the permitted use includes the operation of the restaurant or licensed area activities rather than just “motel”.

If the lease is separate to the motel lease, this may be a retail shop lease with certain States having legislation affecting the rights and obligations of Landlords and Tenants entering into or transferring the lease.

The lease will usually contain obligations for the Tenant to comply with all liquor licensing conditions and

legislation and to transfer the license back to the Landlord on expiry or earlier termination of the lease.

Employees A restaurant and licensed premises will require employees with the appropriate skills and qualifications for its operation. Certain awards will also apply to these employees and a Purchaser will need to consider any employment agreements that they may be required to offer on the exact same terms as part of their due diligence enquiries.

In some cases, these employees may also be skilled migrants on temporary visas. There may be additional costs associated with visa sponsorship in hiring these employees which need to be considered.

When considering a sale or purchase of a motel with a restaurant or licensed premises, parties should seek specialist legal advice in the area to ensure their interests or protects in the transaction.

END

Acc. Spec. (Bus.) - Qld Special Counsel, McBride Legal M. 0410 644 246 E. davidadolphe@mcbridelegal.com.au

David Adolphe is a Queensland Law Society Accredited Business Law Specialist and has been in practice for 20 years.

He has advised clients in all manner of business transactions and takes a specific interest in Tourism and Hospitality matters. David takes a practical approach to delivering the best possible strategic legal advice to clients on all aspects of business and commercial law matters.

resortbrokers.com.au

74

Legal

Another Attack Repelled Words_John Mahoney, Mahoneys

In yet another attack on the management rights industry certain academics and lawyers with an anti management rights agenda have been pushing a disingenuous theory that any management rights agreement can only ever be “topped up” once.

That of course is contrary to the long established industry practice for managers to top-up the term of their management rights agreements every 5 years or so, and even more often in the case of agreements subject to the Standard Module’s 10 term limitation.

Once again we find ourselves having to defend against an attack that seeks to cause confusion and disputation.

Those who have latched onto the argument do not seem capable of accepting the will of the owners. After all, any top up can only ever happen if a majority of voters at a general meeting vote for it and if that I what the majority want, why not accept it?

Those who came up with the theory and those who perpetuate it rely on a misconceived interpretation of a particular section of the Regulation Modules.

The particular wording is:

The body corporate may subsequently amend the engagement to include a right or option of extension or renewal (a subsequent right or option) only if ….. the subsequent right or option is for not longer than 5 years…

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The argument is that the right to include “a” right or option means that there can only ever be one such right or option, and no more. Part of their argument relies on reference in the previous sub-section of the Regulation which allows for multiple rights or options of extension or renewal in the initial agreement, in contrast to reference to “a” right or option for top ups. However in the context of statutory interpretation such contrast is inconsequential It is a principle of statutory interpretation that the words of a statute ought to be given the meaning which the legislator intended them to have. This requires consideration of the actual wording and its context and purpose – not just the Act and Regulations but any extrinsic material.

In considering the actual wording the Acts Interpretation Act 1954 provides that in any legislation there is a presumption (which may only be displaced by a contrary intention appearing in the legislation) that words in the singular include the plural and vice versa.

75

The relevant section in the Regulation Modules cannot be interpreted as imposing a singular cap on the number of topups, as the substance and tenor of the legislation as a whole is not capable of displacing this presumption.

It is reasonable to expect that if there was a legislative intention to cap the number of top-ups permitted, it would appear with reasonable clarity from the terms of the legislation itself. By way of example section 130 of the Act (which deals with the statutory review re the terms and remuneration of a management rights agreement) states: The contract may be reviewed under this division only once.

If there was a legislative intention to impose a similar cap on “top-ups,” then arguably a similarly phrased provision would have been included in the Regulations.

Further, the cap on “top-ups” is inconsistent with the operation of those sections of the Modules which preclude top up motions from being included on the agenda of a general meeting more than once in any financial year. If a Manager was only able to “top-up” their management rights agreement once, then only one motion would ever be able to be

considered. If that were the case there would be no need for these provisions.

The one only top up concept cannot be reconciled with the purposive and extrinsic material related to the BCCM Act and Regulation Modules. Explanatory notes to the 2003 amendments include these words: However, at any time, the body corporate may grant an extension of the term of the agreement, up to a maximum equivalent to the term limitation. Explanatory notes to the 2020 Module changes are also consistent with the concept of multiple top ups.

Whilst the issue has not yet been tested by the Queensland courts and tribunals, comments by adjudicators have recognised without question current industry practice. Whilst I cannot envisage a court or tribunal would accept the argument that there can only ever be one top up, I genuinely hope that a hostile body corporate does not seek to challenge a top up on the basis of the argument and put the manager to the trauma and expense of having to fend off what I am confident would be a futile and unsuccessful attack.

Experts in Management Rights and Motel Law For over 30 years Mahoneys has been one of Australia’s leading management right and motels law firms.

We are a preferred supplier to the Accommodation Managers Industry and have been awarded “Service provider of the Year” by the peak industry body (ARAMA) for the past 2 years.

Our team of industry leading lawyers regularly assist clients with: Buying and selling accommodation businesses Preparing and reviewing leases, licences and service agreements Renewing and varying existing management arrangements Assisting with remuneration reviews, disputes and other disagreements Feel free to contact us if you want to discuss how we can help. Alternatively visit our dedicated industry web page or subscribe to our industry focused newsletter.

www.mahoneys.com.au

Brisbane office L 18, 167 Eagle Street Brisbane Qld 4000

Gold Coast office L 2, 235 Varsity Parade Varsity Lakes Qld 4230

p 07 3007 3777

p 07 5562 2959

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76

Finance

We’ve Got a Contract…

Now What?

Words_Mike Phipps, Mike Phipps Finance

“Now is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.”

- Winston Churchill 1942.

Churchill is of course famous for many an inspirational quote made all the more magnificent by virtue of the circumstances in which he found himself. I suspect somewhat more uplifting and motivating than the dross found on social media these days. Imagine addressing a population facing the existential threat that emerged in Europe in the late thirties and imploring the population to be the best they can be and to speak their own truth. Gimme a break!

But, as always, I digress.

Much has been written about selling accommodation businesses and it occurs to me that parties to transactions sometimes feel that the signing of the contract is, in fact, the end. If I put myself in a vendor’s shoes, I can appreciate how this mind set comes about. The decision to sell is not an easy one and the emotional roller coaster that follows can be pretty stressful. It’s totally understandable that once contracts are afoot a vendor might think that the worst is over, so to speak.

Of course, as Winston knew, there’s still a bit of water to go under the bridge before matters are successfully concluded.

I would encourage vendors to remain “present” throughout the process and with a little bit of pre-planning the bumps in the road can be successfully navigated.

The sale will swing on three important outcomes. Each can throw up “surprises” which can be emotionally taxing for vendors and challenging for their advisors. Let’s take a closer look: FINANCIAL DUE DILIGENCE AND VERIFICATION The buyer’s accountant will be instructed to prepare a verification of net profit report. The process is highly detailed and relies on vendors and their advisors being organised and ready for the information request that will surely come.

I think it makes sense for vendors to find out who’s doing the verification as soon as an offer is accepted and request a copy of that firm’s information checklist. It should come as no surprise that the buyer’s accountant will want complete

resortbrokers.com.au

and unfettered access to accounting software, copies of agreements and relevant leases and in the case of management rights, up to date letting appointments. If you derive income from any activity outside industry norms, be ready to justify that income and have relevant documentation to hand.

The buyer’s accountant will also want to build a picture of the business, particularly if it’s a management rights. To this end vendors should be ready with copies of the last AGM minutes, the CTS/ CMS, sample owner statements and a copy of the BC budget. If there’s been a recent review of the BC salary details will be required. The verifying accountant will be keenly interested in the composition of the letting pool and any trends insofar as pool numbers go. A clear and concise understanding of the dynamics in the building will go a long way to painting a positive picture, particularly if letting pool numbers are down.

Critical to the process will be the buyer’s accountant’s review of operating costs, particularly labour expenses.

Vendors should be ready to justify in detail any inconsistencies between the P and L for sale purposes and the actual costs incurred in running the business.

In our experience labour costs tend to be the most contentious area. If a vendor ends up in negotiations over a difference in verified net profit, I’d be prepared to bet it will boil down to labour cost allowances.

There’s always a “story” about labour costs and some are less than compelling. Be ready!

LEGAL DUE DILIGENCE A lawyer friend of mine has a great saying... you can fix most documentation errors but you can’t fix dodgy numbers. He’s right. That’s why most prudent practitioners will not start the legal due diligence process in earnest until the outcome of financial verification is reasonably clear. Unlike analysis of financial performance, which can be open to interpretation, a legal document or compliance to process is generally either right or wrong. There are of course areas of legal ambiguity but it’s very unusual for a transaction to fail as a result.

The buyer’s lawyer will, for the most part, rely on the outcomes of searches and information provided by the vendor’s lawyer. Key to the legal due diligence process is to establish that what is being sold is as presented and that contracts pertaining to the business are enforceable and reside with the seller. Establishing the chain of ownership since the business started is key to the process as is confirmation that any amendments to contracts or leases have been legally brought about. In particular, deeds of assignment and variation must be appropriately entered into to ensure security of tenure for the buyer.

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The occasional challenge that arises from the due diligence process is the discovery of a documentation or process error which requires attention prior to settlement. On the one hand most vendors would want their paperwork to be squeaky clean. On the other hand, many will be less than enthusiastic about alerting a landlord or body corporate to a potentially fatal flaw. In these circumstances all those years of building positive relationships with the BC pays back in spades. Either that or convince the buyer to have the problem fixed post settlement. Good luck with that!

FINANCE Here’s where the rubber hits the road. While buyers can use all manner of spurious excuses to wriggle out of a contract on financial and legal due diligence grounds, once finance is approved and confirmed with the other side the deal is unconditional and there’s no escape.

Given that we pre-qualify buyers, finance approval should be a given and in most cases it is, albeit at glacial pace. It’s the glacier that vendors need to be aware of.

Nothing spooks a seller more than a finance extension request. Regrettably very few such requests come with

an explanation and some context. I’m a big fan of the buyer explaining why the extension is required and giving the vendor enough information to make an informed decision. With our client’s permission we will always brief their lawyers and provide enough information to put the vendors mind at ease. Some vendors do not take finance extension requests well albeit when faced with the prospect of jumping off the roller coaster so close to the end, more often than not cool heads prevail.

In summary being a highly organised and patient vendor is the key. I’m also a huge believer in using lawyers and accountants who pick up the phone and discuss potential issues with the other side. By all means send the billable hours confirming email but talk first.

Most important of all, choose the right agent. I’ve met them all over the years and some hold the deal together better than others. The ability to juggle the competing interests of vendors and buyers is not a skill to be taken lightly. The really great agents know that the real work starts once the contracts are signed.

I’ll close with Winston again...

“If you’re going through hell, keep going.”

resortbrokers.com.au

78 78

Broker Profile Broker Profile

Broker Profile Russell Rogers He’s won our Sales Broker of the Year Award four times, including FY21, and has been Motel Broker of the Year five times in a row, and Russell Rogers is one of ResortBrokers’ most effective and prolific brokers. In the last six years alone, Russell has sold and settled on nearly 100 properties with a value in excess of $175 million and he’s now regarded as Australia’s premier broker in the motels and caravans sector. Since joining us in 2011, Russell has excelled covering a beautiful, diverse region taking in the NSW south coast, Snowy Mountains, Canberra and Southern Highlands.

YOU’VE BEEN INVOLVED IN SOME BIG DEALS THIS YEAR – WHICH ONE STANDS OUT FOR YOU AND WHY?

HOW, AND WHEN, DID YOU COME TO WORK AT RESORTBROKERS? I had owned and run motels in Mollymook and Goulburn since 1991 and the accommodation industry was well and truly in my blood. I think one day I saw an advertisement in a newspaper for ResortBrokers and I thought I’d be perfect to take on a position in this part of the world because of my experience. All I did was ring “Crooksy” (ResortBrokers Founder and now-Chairman Ian Crooks) and suggested he give me a job. It was as simple as that. I think he liked the direct approach I took, so I was hired. Never looked back since.

ARE THE RUMOURS TRUE THAT YOU WERE ONCE AN ABALONE DIVER? Yes it is. I owned and dived an Abalone Quota in NSW and New Zealand from 1986 to 1997. I know someone in there has a photo of me from back in the day and I bet it’s used with this article! It was hard work but it was lots of fun and I look back with fond memories to those days. I still call it my “working holiday of 11 years” and it was an amazing time.

WHAT DO YOU SPECIALISE IN, AND HOW IS YOUR MARKET ON THE NSW SOUTH COAST LOOKING RIGHT NOW? I specialise in large motels, caravan parks and MHE land lease communities and my area on the NSW south coast is on fire at the moment. There’s massive demand for accommodation businesses and there are lots of newer and bigger buyers who are very active at the moment. I have never in 10 years seen the market this strong across the board. Pretty much everything I have listed is selling really quickly and there’s probably a few key factors driving this. COVID has helped boost drive tourism as the NSW south coast is the perfect drive holiday from Sydney and Canberra, and the players are following this. Interest rates are low, and likely to remain so for some time, and the simple fact is that this is such a beautiful part of the world, far away from the hustle and bustle of the big smoke. I think people realise this and are making their tree and sea change moves. resortbrokers.com.au

I have a couple of big deals this year, one each in both the Canberra region and Wollongong area. Both these have been standout deals. I love the big deals as they attract the large “cando” buyers who are serious and happy to move quickly. Working with these buyers, you get an understanding of what they are pushing to achieve in the accommodation industry and it’s just really exciting to be able to be a part of it. Ultimately it’s all about helping both vendors and buyers achieve their desired results.

WHAT IS THE TOUGHEST PART OF YOUR JOB? As with any business, there are ups and downs. Dealing with the disappointments is the hardest part. As a broker, to be successful you have to learn to take them on the chin, laugh and move onto your next deal. I was fortunate to have good mentors when I started with the company and have learned this quickly. You have to be resilient.

WHAT MAKES YOU TICK? WHAT DO YOU DO ON A TYPICAL WEEKEND? I live at one of the most beautiful beaches in Australia in the Mollymook area so my time off revolves around the ocean. I love walking the beach daily and exercising. I dive and fish whenever the time and conditions are good. All of these things are good for the soul and I try and make time to do them, even if work is really busy – which it is right now. We also have nine grandchildren who visit and stay with us regularly. We have an enormous tiered vegetable garden behind our house and we spend time on that and I have always loved growing vegetables and fruit trees. Most of our vegetables are grown by us. We also grow mangoes, figs, citrus and papaya.

IF YOU COULDN’T WORK HERE AT RESORTBROKERS, WHAT WOULD BE YOUR IDEAL JOB? I honestly can’t think of anything at this stage. Working here gives me autonomy in my region of the NSW south coast, it’s rewarding on all levels and I get to travel and meet really good people. And I get to work with a great team from all around Australia.

79

Sold Properties

Our Deals Settle SOLD MOTEL FREEHOLD ARARAT, VIC

SOLD MOTEL LH VICTOR HARBOUR, SA

SOLD MANAGEMENT RIGHTS MINYAMA, QLD

SOLD MOTEL FH JUNEE, NSW

SOLD MANAGEMENT RIGHTS CURRUMBIN, QLD

SOLD MANAGEMENT RIGHTS KIPPA-RING, QLD

SOLD MANAGEMENT RIGHTS POINT LOOKOUT, QLD

SOLD MANAGEMENT RIGHTS BIRTINYA, QLD

SOLD MANAGEMENT RIGHTS VARSITY LAKES, QLD

SOLD MANAGEMENT RIGHTS STAFFORD, QLD

SOLD MOTEL FH TANNUM SANDS, QLD

SOLD MANAGEMENT RIGHTS MORAYFIELD, QLD

SOLD MOTEL FH TENNANT CREEK, NT

SOLD BOUTIQUE MOTEL FH STRAHAN, TAS

SOLD MANAGEMENT RIGHTS KINGS BEACH, QLD

SOLD MOTEL FH EMU PARK, QLD

SOLD

SOLD

SOLD

CARAVAN PARK LH BERRIMAH, NT

MANAGEMENT RIGHTS MAROOCHYDORE, QLD

MANAGEMENT RIGHTS AIRLIE BEACH, QLD

SOLD

SOLD

SOLD

MOTEL FH BERMAGUI, NSW

MANAGEMENT RIGHTS KAWANA ISLAND, QLD

MOTEL FH CLONTARF, QLD

SOLD

SOLD

SOLD

MANAGEMENT RIGHTS MOOLOOLABA, QLD

MOTEL INVESTMENT PENOLA, SA

MANAGEMENT RIGHTS EAGLEBY, QLD

SOLD

SOLD

SOLD

MANAGEMENT RIGHTS NOOSAVILLE, QLD

MOTEL LH ARARAT, VIC

MANAGEMENT RIGHTS MURARRIE, QLD

SOLD

SOLD

SOLD

MOTEL LH ROMA, QLD

MANAGEMENT RIGHTS WINDSOR, QLD

MOTEL LH PENOLA, SA

SOLD

SOLD

SOLD

MANAGEMENT RIGHTS NEW FARM, QLD

MANAGEMENT RIGHTS CHERMSIDE, QLD

MANAGEMENT RIGHTS PALM BEACH, QLD

SOLD

SOLD

SOLD

MOTEL FH TAMBORINE, QLD

MANAGEMENT RIGHTS PARKINSON, QLD

CARAVAN / CABIN PARK CHINCHILLA, QLD

SOLD

SOLD

SOLD

MOTEL LH DUBBO, NSW

MOTEL FH EDEN, NSW

MANAGEMENT RIGHTS SURFERS PARADISE, QLD

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80

Regular Feature

Relief Managers Please note: this is simply a directory service that we provide to assist you. Should you choose to go on holiday or take a break, we recommend you interview and qualify relief managers yourself, before hiring. Nb. You’ll find more managers listed on our website: resortbrokers.com.au/buy/reliefmanagers

GRAEME & DEBORAH WALLACE

CHARLIE & JACKY

KARLA HARDING

Motels, QLD & NSW

Caravan Parks & Motels QLD & NSW

Holiday Apartments, Resorts, Boutique Hotels & Air Bnb’s, Nationwide

07 4622 3221 jacquelineryan1@bigpond.com

0414 767 499 bnbangels@gmail.com

MARION & PETER KEULEN

D O N N A & WALT E R S I M M E N

D AV I D A N D S A N D R A C A I R N S

Caravan & holiday parks Nationwide

All property types QLD

Management Rights QLD

0411 865 905 marion_keulen@hotmail.com

0497 675 105 info@simmenanderson.com

0411 335 539 moretonbeachhouse@bigpond.com

CARMEL MOLONEY

ROGER ANDREWS & JILLIAN CAIN

FRED BISHOP

Motels QLD Coast

Hotels & Motels, VIC & SA

Motels Nationwide

0427 512 751 graemedeb@motelmanagers.com.au

0400 483 291 c.m.j64@hotmail.com

VICTORIA MCDONOUGH & BRENDAN HUGHES

0488 780 071 0403 021 504 jilliancain@optusnet.com.au

0429 444 010 flashb2261@yahoo.com.au

KEVIN & MELISSA SPEER

DYLAN STICKLE

Motels, East Coast

All property types QLD

All property types Nationwide

0412 138 642 vickymcdonough@bigpond.com.au

0422 006 497 speer1@bigpond.com

0457 586 225 dylan.stickle@hotmail.com

PETER & MICHELLE JACOBI

CRAIG & ANDREA JOHANSON

GRANT SKINNER

Motels & Caravan Parks Nationwide

All property types, Nationwide

Management Rights Nationwide

0427 183 416 casabargara@gmail.com

0436 358 877 0498 213 204 managers@vacationminders.com.au

THE GOOD KNIGHTS

SUE BARTON

CHRISTINE WILMOTT

All property types Nationwide

Motels Nationwide

All property types QLD

0432 336 703 info@thegoodknights.com.au

0432 411 900 bartonsue@rocketmail.com

0413 452 263 christine.09@bigpond.com

PAUL & TANYA GREEN

JOHN & VAL SAUNDERS

CHRIS BAKER & SHARON CHARLES

All property types NSW

Motel QLD & NSW

All property types Nationwide

0411 874 392 tanyacooper1@msn.com

0466 325 461 valandjohnsaunders@gmail.com

0418 748 903 sharon.charles@live.com.au

resortbrokers.com.au

0408 996 188 grantandjuliet@bigpond.com

81

SCOTT & LIN MCKENZIE

JOHN & SUSAN DONE

KAREN & ROBERT NISBET

Management Rights Brisbane Only

All property types Nationwide

Motel & Caravan Parks, Nationwide

0451 010 117 scott@mcwu.com.au

0447 077 420 suedone@mac.com

0427 933 414 0488 934 899 karen.nisbet70@gmail.com.au

DILYS & NEIL HARVEY

SHARON & STEPHEN DEWSBURY

CHARLES & COLLEEN LUBANS

Motels Nationwide

All property types Nationwide

Management Rights QLD

0420 948 996 neil.dilys@xtra.co.nz

0402 142 075 sharon@airliebeach.net.au

0432 586 099 colleenlubans@hotmail.com

PETER CAMPBELL

CAROL PREECE & ALLAN VERDICH

BAY6 MOTEL MANAGEMENT

Management Rights & Resorts Brisbane & Gold Coast

Motel & Caravan Parks Nationwide

Motels Nationwide

0468 688 008 petcam100@hotmail.com

0438 822 295 carolpreece11@gmail.com

0416 016 614 info@businessbay6.com.au

LINLEY & ALISON MADDICK

LEONI & LAURIE BENNETT

GEORGIANNA DYSON

Motels QLD & NSW

Motels Nationwide

Motels Nationwide

0432 008 988 alisonandlinley@icloud.com

0408 743 817

0438 527 894 georgi1440@icloud.com

NEROLI GLENYS REID

THOMAS GRAF

CHAZZ & ADELE PEARCE

Management Rights, Motels, Caravan Parks & Resorts, Nationwide

Caravan Parks, Nationwide

0488 060 755 neroli.reid@gmail.com

0438 014 035 07 4032 1573 tomas49@me.com

0437 718 526 0429 087 090 chazzpearce1@gmail.com

KEITH & JULIE JOHNSON

CHRIS CAMPBELL

KRISTY & LANCE BUTT

Caravan Parks Nationwide

Motel & Management Rights Nationwide

All property types QLD & NSW

0404 004 427 wckpt@internode.on.net

0449 957 414 cj.jwcampbell@gmail.com

0428 902 878 kristymay22@outlook.com

BRUCE DRURY

DAVID & BELINDA GUSTAFSON

STEVE REYNOLDS

Motel & Caravan Parks Nationwide

All property types Nationwide

Management Rights QLD

0428 631 573 bruceandsandra34@gmail.com

0403219 562 gustafsondavid@hotmail.com

0413 614 936 steve.managemenrightsrelieft@gmail.com

CHARLIE MILLINGTON & JACKY RYAN

PAUL KIRKPATRICK

SHANE & MADONNA ASHMAN

Caravan Parks & Motels Nationwide

All property types Nationwide

Management Rights, Nationwide

07 4622 3221 jacquelineryan1@bigpond.com

0419 675 671 paul.kirkpatrick@gmail.com

All Property Types Nationwide

0437 478 401 0438 146 091 shaneashman@outlook.com

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82

Regular Feature

Meet our team Introducing ResortBrokers' national team of accommodation business and property brokers.

We are the industry experts at your service in every state and territory.

IAN CROOKS

TRUDY CROOKS

TIM CROOKS

ALEX COOK

Chairman Nationwide

Managing Director Nationwide

Director of New Developments and Hotels, Nationwide

Director Nationwide

0411 171 648 ian@resortbrokers.com.au

0477 882 210 trudy@resortbrokers.com.au

0422 208 450 tim@resortbrokers.com.au

0467 600 610 alex@resortbrokers.com.au

CARLA COOK

MARISSA VON STIEGLITZ

NICHOLA LANE

NATHAN EADES

Director of Marketing and Strategy, Nationwide

Operations Manager Nationwide

EA to Trudy Crooks

Broker Brisbane

0467 600 611 carla@resortbrokers.com.au

0437 198 164 marissa@resortbrokers.com.au

07 3878 3999 nichola@resortbrokers.com.au

0448 339 920 nathan@resortbrokers.com.au

JESSIE SHI

JEFF KEAST

FRANK MATUS

KELLI CROUCH

Broker Brisbane

Broker Brisbane

Broker Brisbane

Broker South Australia

0422 935 428 jessie@resortbrokers.com.au

0414 669 007 jeff@resortbrokers.com.au

0435 742 698 frank@resortbrokers.com.au

0410 441 750 kelli@resortbrokers.com.au

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GLENN MILLAR

CHENOA DANIEL

STEVE CAMPBELL

GREG JAMES

Senior Broker Sunshine Coast

Broker Sunshine Coast

Broker Central Gold Coast

Broker Gold Coast & Northern NSW

0412 277 804 glenn@resortbrokers.com.au

0403 143 151 chenoa@resortbrokers.com.au

0407 220 668 steve@resortbrokers.com.au

0416 247 068 greg@resortbrokers.com.au

PAUL MUELLER

TODD WARNER

DES FAGG

SHANE CROGHAN

Broker Gold Coast North

Broker Gold Coast South & Northern NSW

Broker North QLD

Broker Far North QLD

0439 255 507 paul@resortbrokers.com.au

0438 170 763 todd@resortbrokers.com.au

0427 849 119 des@resortbrokers.com.au

0418 451 006 shanec@resortbrokers.com.au

GRANT SULZBERGER

NATHAN BENJAMIN

RUSSELL ROGERS

JASON VOGLER

Broker Central QLD

Broker Central QLD

Broker NSW South Coast

Broker SE & SW QLD, NW NSW & New England Region

0455 053 832 grant@resortbrokers.com.au

0459 955 649 nathanb@resortbrokers.com.au

0416 166 909 russell@resortbrokers.com.au

0427 431 213 jasonv@resortbrokers.com.au

CHRIS KELLY

JACQUELINE FEATHERBY

DAVID JEFFERIES

BLAIR MACDONALD

Broker NSW Central West

Broker NSW Central Coast, Hunter & Blue Mountains

Broker Victoria

Broker Western Australia

0431 055 221 chris@resortbrokers.com.au

0424 497 056 jacqueline@resortbrokers.com.au

0447 101 970 david@resortbrokers.com.au

0433 149 144 blair@resortbrokers.com.au resortbrokers.com.au

84

Queensland PO Box 5004 West End, QLD 4101 (07) 3878 3999 New South Wales PO Box 567 Ulladulla, NSW 2539 (02) 9904 8224 Victoria PO Box 1100 Carlton, VIC 3053 (03) 9347 3100 South Australia PO Box 327 Fulham Gardens, SA 5024 (08) 8356 5057 Tasmania PO Box 3024 Devonport, TAS 7310 (03) 6424 3474 Western Australia PO Box 103, South Perth, WA 6951 (08) 9314 7638

1300 665 966 resortbrokers.com.au

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