Informer Issue 102 by Resort Brokers

INFORMER I S S U E N O. 1 0 2

AU S T R A L I A ’ S BES T ACCOM M ODAT I ON I N V E S T M E N T S H OWCAS E

SPECIALISTS

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

HOTEL, RESORT & HOSPITALITY FITOUT AND REFURBISHMENT SPECIALISTS Delivering your project with confidence

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

CEO, Dennis Clark

Contents

What’s Inside I S S U E N O . 102

18 THE WONDER DOWN UNDER

Join us on this deep dive into what makes the Great Barrier Reef so great

6 QTR 3 SALES ACTIVITY We showcase some of our biggest deals from around the country during Q3

WHERE THE RAINFOREST MEETS THE REEF

24 SUITE DREAMS Australia’s first underwater accommodation is as spectacular as the Great Barrier Reef it rests on

Discover the refurbished Silky Oaks Lodge and meet the couple behind the Baillie brand

38 SUCCESS STORIES

NEW KIDS ON THE BLOCK

REGIONAL SNAPSHOP: FNQ

LET’S GET SOCIAL: RECENT EVENTS

Meet the two tradie brothers who’ve swapped their tools for the motel life

A big welcome to our two newest brokers, Glen Cummins and Leisa Wheatland

The only way is up for Far North Queensland according to our broker on the ground Shane Croghan

We’ve been out & about at industry events

Regular Features 42

ON THE MARKET

BROKER INSIGHT

SALES ACTIVITY

RELIEF MANAGERS

MEET OUR TEAM

Managing Director Trudy Crooks examines the best time to sell.

Our Sunshine Coast broker A round up of our Glenn Millar looks at what’s causing top sales from sky-high real estate prices around Australia

Taking a holiday? Need a manager? Find one here

ResortBrokers' national directory

resortbrokers.com.au

Words_Ian Crooks, Chairman

Preface

Get Ready To A week is a long time in politics, two years is a lifetime in a global pandemic, 20 years an eternity in the publishing business and more than 60,000 years somewhat of an infinity when it comes to the Great Barrier Reef. And more recently, mere days a devastation when it comes to the extreme rainfall events we’ve experienced along eastern Australia. The floods in Queensland and New South Wales affected many homes, families, properties and businesses. Thankfully, Australians are resilient and that is particularly true of this industry which has weathered its fair share of storms.

Welcome to our 20th year of publishing Informer, Australasia’s best accommodation investment showcase, where we delve into the big issues in this, our first edition for 2022. And 2022, the Chinese Year of the Tiger, is set to roar. According to Chinese horoscopes, a Tiger year is particularly pertinent when it comes to taking risks and moving forward with courage and chutzpah. And here resortbrokers.com.au

are ResortBrokers we believe it’s perfect timing. 2022 also marks an Australian federal election year as well as what we anticipate is a COVID-recovery year for the industry. In this issue we cover a smorgasbord of stories, with a spotlight on a region close to my heart – the Great Barrier Reef. It's a love affair which has endured through the decades.

While one of my favourite parts of Australia has always been the Australian Outback, there’s few sweeter spots than the Great Barrier Reef. I was fortunate to holiday in Port Douglas last year and take a trip out to the reef, and more recently, I was in Cairns on business where again I spoke to reef operators and market confidence is growing. In January, Prime Minister Scott Morrison made a $1 billion pre-election pledge to protect the Great Barrier Reef. In our cover story, key tourism stakeholders talk about what makes the Great Barrier Reef so special. It’s a story which begins long before it became The Great Barrier Reef

Marine Park in 1975, back some 60,000 years ago when it was known as the “sea country” to the traditional owners. We also highlight some of the amazing properties we’ve sold and listed along the Great Barrier Reef, speak with some influential faces in the tourism industry, and head out to ReefSuites in the Whitsundays – Australia’s first underwater accommodation. Little wonder Aussies, and international tourists, are enamoured with the reef. Speaking of international tourists, after some 700 days of closed Aussie borders, we welcome the opening of “Fortress Australia” and its knockon effects to business, particularly in the tourism and accommodation industry. Recently we sent you an email about the sale of the Powerhouse Armidale which received national media coverage because it sold for a record price and highlighted the fact that fund managers are looking for large high quality regional motels.

Domestic tourism growth past 20 years •D omestic overnight trips increased by two per cent Compound Annual Growth Rate (CAGR) between 2000 and 2019 to 117.4 million trips •D omestic overnight expenditure increased at a four per cent CAGR between 2000 and 2019 to $80.7 billion

ROAR! The photo we originally used in this email, and a recent edition of Informer, was of the outstanding five-star Powerhouse Hotel by Rydges Tamworth, the sister property of the Powerhouse Armidale. We apologise to our good friend Greg Maquire. Just as Informer has changed in the past 20 years, so too has consumer travel behaviour in Australia. Closed domestic and international borders mean the Great Barrier Reef hasn’t made Tourism Australia’s Top 10 of Australian Holiday Destinations, but we expect that to change in the coming year. Our Far North Queensland broker Shane Croghan gives us the run down on why you should be looking to inject your investment dollars in the tropics. We also welcome two new brokers, Leisa Wheatland in south-east Victoria and Glen Cummins in Townsville and surrounds. Director of New Developments and Hotels, my son Tim, launches a new

column on “what’s cool” in the industry and we speak with the Caravan Industry Association of Australia about the current issues in this burgeoning industry which has been one of the winners during the global pandemic.

With plenty of noise around the likelihood of rising interest rates, Managing Director (and my daughter) Trudy Crooks unpacks what this looks like for the accommodation industry.

• The average number of domestic overnight trips taken by every Australian increased from 3.9 in 2000 to 4.6 trips in 2019

Top 10 Australian holiday destinations in 2020

North Coast NSW

South Coast NSW

Sunshine Coast

South Coast of AUS

It’s also a good time to become familiar with recent changes to legislation surrounding real estate licences and we talk to the Queensland Office of Fair Trading about this.

Hunter Valley

Brisbane

Sydney

We also love our success stories, and you’ll enjoy our interview with two tradie brothers who have swapped the tools for motel investments.

Gold Coast

In this Tiger year, we reckon the industry is going to roar. But first, let me order a mai tai and read the rest of our 20th year edition, in preparation for the excitement ahead. END

Great Ocean Road

10.

Perth

Source: Tourism Australia

Sales Activity

QTR 3

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.

JUST SOLD

ANGLERS REACH LAKESIDE VILLAGE, LEASEHOLD, ANGLERS REACH, NSW

LISTING

NOOSA PACIFIC RESORT, NOOSA HEADS, QLD

A rare opportunity that offers great returns and a fantastic lifestyle in the

A stunning, iconic never-tobe-repeated property listing located in Noosa Heads.

idyllic NSW High Country.

Contact: Russell Rogers M: 0416 166 909

Contact: Chenoa Daniel M: 0403 143 151

JUST SOLD

ARMATREE HOTEL, FREEHOLD, ARMATREE, NSW Situated in the central west of NSW. This award-winning hotel/motel/ caravan park located 40km north of Gilgandra.

Contact: Chris Kelly M: 0431 055 221

JUST SOLD JUST SOLD

BOAB CARAVAN PARK, INVESTMENT, KATHERINE, NT This boutique, multi-income stream caravan park offers a long-term 27-year lease in place and shows a 9% return.

Contact: Kelli Crouch M: 0410 441 750 resortbrokers.com.au

THE BLUE WATER MOTEL, FREEHOLD, KINGSCLIFF, NSW A refurbished retro motel with coastal cool chic and relaxed northern NSW beach vibes.

Contact: Greg James M: 0416 247 068

JUST SOLD

EMERALD EXPLORERS INN, INVESTMENT, EMERALD, QLD An outstanding motel which ticks all the boxes if you’re looking for a secure investment with great returns.

Contact: Ian Crooks / Nathan Benjamin M: 0411 171 648 / M: 0459 955 649 JUST SOLD

SANDCASTLES ON CURRUMBIN BEACH, MANAGEMENT RIGHTS, CURRUMBIN, QLD Tthis easy-to-manage mixed letting resort has incredible ocean and beach views south to Coolangatta.

Contact: Todd Warner M: 0438 170 763

JUST SOLD

ROMA INLAND MOTOR INN, FREEHOLD MOTEL, ROMA, QLD An exceptional 25-room Freehold Going Concern Motel in Roma.

Contact: Jason Vogler M: 0467 600 610

JUST SOLD

THE LAWSON RIVERSIDE SUITES, FREEHOLD, WAGGA WAGGA, NSW A family-built property on the Murrumbidgee River with 40 highquality, elegantly spacious suites

Contact: Chris Kelly M: 0431 055 221

LISTING

QUEST ECHUCA, LEASEHOLD, ECHUCA, VIC Quest-branded 60-key hotel in central Echuca, Victoria.

Contact: Jacqueline Featherby M: 0424 497 056

UNDER CONTRACT

ON THE BEACH NOOSA RESORT, MANAGEMENT RIGHTS, NOOSA, QLD One of Noosa’s signature beachfront properties with beachfront studios to spa penthouses

Contact: Alex Cook / Glenn Millar M: 0467 600 610 / M: 0412 277 804

resortbrokers.com.au

5 1 A P A R T M E N T S,

3 8 L E T T I N G,

19.7 Y E A R S O N A G R E E M E N T S .

O W N E R ’ S R E S I D E N C E: 3 B E D , 2 B A T H

NOOSA PACIFIC Resort

A stunning, iconic property located in Noosa. ResortBrokers exclusively presents to market a oncein-a-lifetime opportunity to secure the rarely offered Management Rights to Sunshine Coast icon Noosa Pacific Resort.

Live in the sensational three-bedroom waterfront luxury apartment that comes with the business or rent it out to earn sizeable return. Reside offsite as there is no requirement to live onsite.

This well-established asset has generated an exceptional net income circa $750,000 in a COVID-affected year. It boasts a consistent letting pool in a market renowned for being robust.

Facilities include two pools, two spas and a tennis court. This sensational resort is located on the Noosa waterfront with private beach and jetty access with a stunning north-facing ocean vista.

Noosa Heads is one of Australia’s most in-demand markets and was voted the number one beach in Queensland in 2021.

This is your chance to secure a highly-prized trophy business providing the perfect combination of solid revenue with the idyllic lifestyle that only Noosa Heads can deliver.

Trophy asset located in one of Australia’s most in-demand markets

Stunning designer apartments most of which offer sensational ocean and river views

High net profit of $757,451

Qualified buyers should contact the agents to inspect or request further information

Manager’s luxury apartment is being offered at $2.9m Additional revenue can be generated from the manager’s residence for those wishing to reside offsite

Confidentiality conditions apply

Real Estate Price $2,900,000 Business Price $4,923,431 Total Sale Price $7,823,431

CHENOA DANIEL

GLENN MILLAR

BROKER

+61 403 143 151

+61 412 277 804

chenoa@resortbrokers.com.au

glenn@resortbrokers.com.au

Partner for success Join Choice Hotels Asia-Pac™

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Superior amenities, modern facilities.

Recognised for value and reliability.

Find out how you can enjoy the benefits of being part of the region’s largest franchise hotel group. Call a Development Director or visit JoinChoiceHotels.com.au

Scott Armstrong

Tim Mayoh

Development Director,

VIC, SA, WA, TAS

NSW, ACT, QLD, NT

scott.armstrong@choicehotels.com

tim.mayoh@choicehotels.com

+61 409 735 231

+61 448 505 660

MANAGEMENT RIGHTS 18 TOWNHOUSES

59 BEACH SHACKS

24 YEARS OWNER’S RESIDENCE 5 BED 3 BATH

Footprints Preston Beach Resort Preston Beach, WA

REF // M R 0 0 7 1 0 0

A unique beach shack-style complex located near the magnificent Indian Ocean beachfront ResortBrokers is proud to be appointed to market the Management Rights and associated real estate of Footprints Preston Beach Resort, incorporating the Preston Beach Hotel Cafe and Conference Facility. The complex is a unique mix of traditional beach shacks and townhouses clustered around magnificent landscaped gardens and open spaces. The Resort’s beach shacks and townhouses have been designed by award-winning architect James Chistou. The designs evoke casual living and spaciousness inside and out. Two storey voids above the beach shack living areas, and wide openings to shaded timber decks and landscaped gardens, enhance this feeling. Footprints Preston Beach Resort is booming, despite COVID. The current operators have been operating since 2015 and have shown an excellent net return of $630,648 for the 2021 financial year. The Body Corporate is required to provide all of the plant and equipment, which is modern and well maintained. The resort has a hotel liquor licence which allows it to cater for weddings, conferences and other events. The venue is a popular wedding destination given its close proximity to Perth, and abundant available accommodation for guests to stay overnight. The Management Rights’ agreement has recently been renegotiated and incorporates a further 24 years of tenure.

Net Profit $630,648 Real Estate Price $1,220,000 Total Price $2,720,000

BLAIR MACDONALD BROKER +61 433 149 144 blair@resortbrokers.com.au

SPECIAL PROJECT 15 BUNGALOWS

R E C E P T I O N & R E S TAU R A N T

75 YEARS ON LEASE

Coco Beach Resort Vanuatu

A true tax-free haven: boutique resort three hours’ flight from Brisbane ResortBrokers brings an exclusive opportunity to acquire a fully-refurbished, beachfront resort on the tropical island of Vanuatu in Paradise Cove, just 10 minutes’ drive from Port Vila. Coco Beach Resort is a premium holiday complex comprising 15 stylish bungalows set among a lush landscape with amazing views of the Pacific Ocean. Onsite amenities include a waterfront restaurant, with newly extended bar and updated commercial-grade kitchen. There is a renovated swimming pool with large covered entertainment space and timber deck. Being close to Port Vila is a major attraction for a broad range of guests, locals and tourists. The pandemic has caused trading to cease since 2019, however the vendors have used this time to upgrade all 15 bungalows, build a new lobby, renovate the pool and deck area, upgrade and extend the restaurant and make many general refurbishments. This resort would make an ideal holiday home for a syndicate of like-minded people. This unique opportunity beckons an astute investor / experienced resort management couple to take the helm and reshape the future of this truly stunning oceanfront property. Total of 15 studio bungalows with modern decor & A/C Large waterfront restaurant and bar / new kitchen Brand new 75-year land lease Newly-refurbished swimming pool and timber deck

Price $2,950,000

IAN CROOKS CHAIRMAN +61 411 171 648 ian@resortbrokers.com.au

FREEHOLD MOTEL 18 ROOMS 1,480 SQM

Highly sought-after freehold motel on prime coastal real estate The Evans Head Motel offers an opportunity to secure an established freehold motel on prime coastal land. It offers enormous potential to develop and enhance accommodation options to build a boutique property and maximise the return on your investment. The motel is crying out for a makeover, to cash in on the ‘retro renaissance’, that is currently gripping the accommodation market along the east coast of Australia. The real estate alone is highly sought after, the business and what you will be able to do with it is a plus. Premium coastal real estate, walking distance to both river and beach frontage Evans Head is situated on the NSW Coast between 2 of Australia’s hottest spots – Byron Bay and Yamba Be creative and reap the rewards

Evans Head Pacific Motel

Evans Head, NSW

Price $3,850,000

GREG JAMES BROKER +61 416 247 068 greg@resortbrokers.com.au

REF // FH006933

MOTEL FREEHOLD 15 ROOMS 3 BEDROOMS 1 BATHROOMS

Fantastic regional NSW freehold motel Parkhaven Motel is a fantastic opportunity for someone looking at entering the accommodation industry. This easy-to-run motel is perfectly positioned just two hours from Sydney, an hour from Canberra and along the main road into the town centre of Goulburn. This little gem has been a consistent performer until the recent pandemic. The owners decided to close the motel over the lockdown periods which is reflected in their P&L’s. Currently run under management, the business is certainly bouncing back since the reopening of the motel. New owners can enjoy a comfortable net profit, or an astute owner operator could take this motel to the next level. Strong regional town Prime location a block from the town centre Comfortable 3 bedroom owner’s residence Well presented 15 ground level units Perfect for new entrant or someone transitioning into retirement

Parkhaven Motel Goulburn, NSW

REF // FH007063

Pre Covid Net Profit $248,708 Pre Covid Turnover $355,800 Price $2,500,000

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

MANAGEMENT RIGHTS 28 APARTMENTS

6 LETTING

22 YEARS OWNER’S RESIDENCE 3 BED 2 BATH

East Village

Fortitude Valley, QLD Lifestyle-focused Management Rights, right on trendy James Street East Village is a fabulously located and well-established/ low maintenance Management Rights’ business, right on trendy James Street in the heart of Brisbane’s Fortitude Valley. This opportunity has all the elements of an easycare business with a good salary, coupled with a fantastic, well-appointed three-bedroom, two-bathroom (w/ private courtyard and undercover car park) manager’s residence. With more than 85 per cent of the income coming from the Body Corporate salary, this business has an excellent base to work from and provides a stable income to the incoming purchaser. It could be (and currently is) managed by one person part time. With minimal gardening duties and no office hours, this business would be perfect for someone looking for a city lifestyle and complementary salary to help pay the mortgage. East Village represents a rare chance to acquire a solid, centrally-located Management Rights’ business with a caretaker-focused salary coupled with a very liveable two-storey townhouse in the middle of Brisbane’s entertainment precinct. Combined with a manageable workload, East Village becomes an opportunity that needs to be acted upon quickly to not be missed. Right in the middle of trendy James Street, Fortitude Valley Spacious manager’s residence - 3 bed 2 bath 1 car w/ private courtyard Low maintenance - easily done by 1 person part time High b/c wages for only 28 Units- over 85% of net salary No set office hours Small complex, only 28 Apartments with 6 in the letting pool

Net Profit $90,297 Price $1,195,000

FRANK MATUS

NATHAN EADES

BROKER

+61 435 742 698

+61 448 339 920

frank@resortbrokers.com.au

nathan@resortbrokers.com.au

REF // MR007123

FREEHOLD MOTEL 48 ROOMS

4.4 STAR RATING

OWNER’S RESIDENCE 3 BED 2 BATH

Emerald Gardens Motel & Apartments Emerald, QLD

REF // F H 0 0 7 1 0 7

Prestigious 48-room opportunity Emerald Gardens Motel & Apartments is a well-appointed investment, centrally located in the thriving regional town of Emerald, in Queensland’s Central Highlands. Emerald is the gateway to the Sapphire Gemfields, the largest in the Southern Hemisphere, and services rich and diverse agricultural and mining sectors. Emerald appeals to both the travel and corporate market and is well serviced by up to three commercial flights a day into Emerald Airport. Emerald Gardens has it all: 16 motel rooms, 24 two-bedroom self-contained units and 8 one-bedroom apartments, amounting to a total of 48 rooms. Suited to a wide range of guests, the property has a restaurant with indoor and outdoor dining flexibility, a pool, new commercial laundry to keep operations in-house, and overall energy costs which reduced with a 100Kw solar power system. Emerald Gardens enjoyed 50 per cent occupancy over the 2020/21 financial year with a standard room priced at $140/night. In the past six months, occupancy has jumped to 60 per cent. There is room for the next operator to take this investment to the next level. All up this is a large 48-room opportunity, with ample undercover parking and pool. Situated in the middle of a thriving town, this is an incredible opportunity for a focused owner-operator wishing to take this business to the next level and reap the benefits. Centrally located in thriving Emerald 48-room opportunity Low energy costs Indoor/outdoor restaurant Outstanding offering with room to grow

Turnover $1,045,916 Net Profit $636,975 Price $6,500,000

NATHAN BENJAMIN

TRUDY CROOKS

BROKER

M A N AG I N G D I R E C TO R

+61 459 955 649

+61 477 882 210

nathanb@resortbrokers.com.au

trudy@resortbrokers.com.au

MOTEL FREEHOLD 12 UNITS

MANAGER’S RESIDENCE 2 BED 1 BATH

The Anchorage Bermagui, NSW 4-star apartment resort on the stunning NSW Sapphire Coast Opportunities to secure a freehold property like The Anchorage Bermagui come up once in a lifetime. Nestled in NSW’s Sapphire Coast, in the picturesque, seaside town of Bermagui, the exceptional 4,923 sqm property is popular with corporate, leisure and family travellers. On offer are 11 fully self-contained apartments featuring two queen-size bedrooms, gourmet kitchen, modern bathroom, Wi-Fi, smart TV, combined living/dining area and alfresco along with the two-storey manager’s residence, which has been converted to a two-bedroom managers apartment downstairs and a three-bedroom penthouse upstairs. The impressive two-bathroom penthouse is currently held as the owner’s private holiday residence but could be rented out for increased revenue. With Bermagui renowned for its deep sea and game fishing, the resort is highly recommended by fishing clubs and private groups for the CCTV, security lighting, practical parking options for car and boats, multiple hose down locations and a walkin freezer to store bait and fish. Other resort features include sophisticated remote SMS check-in system / keyless entry, mineral swimming pool, outdoor barbecue area, children’s playground (inground trampoline, sand pit and swings), Tesla charging station, coin operated guest laundry and 15kw solar system. This property is an owner’s dream, picture-perfect inside and out. Rare opportunity for a property of this calibre to come to market Magnificent waterfront property offering coastal views One of the most popular deep sea and game fishing ports in Australia Currently run under management Impressive turnkey operation Potential to increase revenue by renting out penthouse One of the most impressive locations and 4-star properties on the Sapphire Coast

Net Profit $276,609.43 Turnover $459,695.77 Price Expressions of Interest

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

REF // F H 0 0 7 1 4 1

MANAGEMENT RIGHTS 40 APARTMENTS 21 LETTING 25 YEARS MANAGER’S RESIDENCE 3 BED, 2 BATH

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

Redvue Luxury Apartments Redcliffe, QLD

REF // M R 0 0 7 0 9 5

Modern short-stay Management Letting Rights directly overlooking Moreton Bay Redvue Luxury Apartments is a boutique short-term building situated along the picturesque waterfront of Redcliffe. This tightly-run Management Rights’ business comprises 40 units in the complex with 21 in the onsite letting pool. It has shown consistent income (all throughout the pandemic) with a generous net over $250,000 per annum and the Caretaking and Letting agreement has recently been fully topped up to 25 years. The location is popular with multiple guest markets including tourists, corporate travellers, tradies and sports groups and has good return clientele with strong forward bookings and plenty of growth potential. Overlooking Moreton Bay, the property sits in proximity to local shops and dining options along Marine Parade and in the town centre. Nearby Suttons Beach and the Settlement Cove Lagoon provide for fun recreation and family entertainment. On-site facilities include secure parking, heated lap pool, equipped gym and communal barbecue area. Managers have exclusive use over the stylish reception with adjoining office and boardroom plus storage spaces. A spacious ground level manager’s unit offers comfortable living with three bedrooms, two bathrooms, two car parks and a massive outdoor courtyard. 40 apartments with 21 in the letting pool Letting pool includes 7 dual keyed – making 28 short-stay keys in total Newly topped up 25 year Caretaking and Letting agreement Supportive Body Corporate committee Experienced on-site managers happy to stay on to work in the business No set office hours and functional reception/office under EU Solid performing short term / corporate business with 3 years of stable income on P&L Strong occupancy with room to increase tarrifs and revenue Perfect waterfront location close to amenities Big 3 bedroom manager’s unit on ground floor

Net Profit $254,893 Unit Price $600,000 Total Price $1,700,000

JEFF KEAST

ALEX IAN COOK CROOKS

BROKER, BRISBANE

D IC RH EA C ITROM RA N

+61 414 669 007

+61 467 600 610

jeff@resortbrokers.com.au

alex@resortbrokers.com.au

MORE INCOME HIGHER VALUE EASY TO RETROFIT EXISTING BUILDINGS

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

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

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

Feature

The Wonder

Down Under -

Australians have held a long standing love affair with Queensland’s Great Barrier Reef, and for good reason. Geographically blessed with arguably the grandest natural wonder in the world, it’s little wonder we flock to explore her warm waters and sunny shores, not to mention her amazing accommodation offerings. But what is it that makes the Barrier Reef so, well, great? Christine Retschlag takes a deep dive.

resortbrokers.com.au

Long before wearing face masks became de rigueur, Australian and international tourists visiting Queensland were donning masks of a different kind. The type you pair with fins and an insatiable sense of adventure. Ever since it was declared the Great Barrier Reef Marine Park in 1975 - and well before when more than 70 traditional owner groups called this area their sea country for more than 60,000 years - we’ve been embracing the reef with gusto. And who can blame us? Stretching some 2300 kilometres along the Queensland coastline, the Great Barrier Reef is never far from the collective conscience. A recent Federal Government pre-election pledge to inject $1 billion into this natural asset for water quality, pest management and reef science, placed the spotlight back on the reef, which has played second fiddle to more pressing issues of late. In late February, tourism operators breathed a collective sigh of relief when “Fortress Australia” finally opened its borders to international travellers after some 700 anguished days. None more so than those businesses and properties along the Great Barrier Reef who rely heavily on the fascination overseas travellers have with our natural wonder you can spy from space. Little wonder it’s one of the heroes of Tourism Australia’s recently-launched “Don’t Go Small. Go Australia” $40 million campaign designed to lure international tourists back to our shores.

Proving it’s not only below the high tide line that the Great Barrier Reef plays such a critical role, latest figures by the Great Barrier Reef Marine Park Authority (GBRMPA) hold the reef responsible for contributing more than $6.4 billion to the Australian economy and 64,000 full-time jobs.

And that’s before we dive deep to witness 600 types of soft and hard corals, more than 100 species of jellyfish, 3000 varieties of molluscs, 500 species of worms, 1625 types of fish, 133 varieties of sharks and rays, and more than 30 species of whales and dolphins. In short, this 344,400 square kilometre property is well worth protecting both from an ecological and economical point of view.

8 great facts about the Great Barrier Reef •

It makes up about 10 per cent of the world’s coral reef ecosystems and is one of the most complex natural systems on the planet

•

This economic powerhouse contributes more than $6.4 billion each year to the Australian economy and around 64,000 full-time jobs

•

The Great Barrier Reef Marine Park covers 344,400km2 in area

•

It includes some 3000 coral reefs, 600 continental islands, 300 coral cays and about 150 inshore mangrove islands

•

Marine creatures which inhabit the reef include 600 types of soft and hard corals, more than 100 species of jellyfish, 3000 varieties of molluscs, 500 species of worms, 1625 types of fish, 133 varieties of sharks and rays, and more than 30 species of whales and dolphins

•

It is bigger than Victoria and Tasmania combined

•

This Marine Park stretches approximately 2300 kilometres along the coast of Queensland

•

It is roughly the same area as Japan, Malaysia or Italy

Source_The Great Barrier Reef Marine Park Authority (GRMPA)

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Feature

Tourism and Events’ Queensland CEO Leanne Coddington says it’s the scale, diversity of wildlife and natural beauty that makes the Great Barrier Reef so special. “We know when people visit the reef, they are inspired to protect it and so there are huge benefits from Aussies getting out to see and experience it,” Ms Coddington says. “The beauty of the size of the reef means you can go more than once, or travel at different times of the year and see new wonders – like the humpback whale migration from July to October, turtle nesting and hatching from November through to March, and coral spawning in November. “With some of the world’s best dive and snorkel sights filled with marine life, you won’t find anywhere else on earth where visitors can dive, snorkel, sail, kayak, learn about, fly above or even sleep on it – there really is something for everyone. “Together, it’s our role to continue to care for the reef and by visiting, you’re contributing to its conservation and helping to protect it for many generations to come.” Tourism Tropical North Queensland Chief Executive Officer Mark Olsen says it’s the diversity of ecosystems and life and the fact it’s the largest structure built by living organisms, that make the Barrier Reef so great. “It is as big as 70 million football fields stitched together and is one of the most complex natural systems on earth,” Mr Olsen says. “Visiting the Great Barrier Reef is the best way of understanding its beauty, ecological significance, and the economic and social impact on the communities adjoining it. “Visitors who engage with tourism operators on the Great Barrier Reef understand the reef’s importance, its challenges, and the opportunities resulting in a social and moral connection with the World Heritage area and the desire to create change.

“They are also supporting the businesses that are the eyes and ears of the reef, alerting scientists to any changes and carrying out reef stewardship activities to help build reef resilience. “Just like the symbiotic relationship of the diverse life supported by the Great Barrier Reef, there is a symbiotic relationship within the reef community of marine tourism operators, scientists, governments, traditional owners, and the broader community who together play a role in looking after the Great Barrier Reef.”

According to Queensland Tourism Industry Council Chief Executive Daniel Gschwind, the Great Barrier Reef is “almost certainly the most powerful natural drawcard” that Australia has in a crowded and competitive global tourism market.

“It gives accommodation providers, hospitality businesses, tour operators and transport services across coastal areas an enormous advantage to get the attention of potential customers and provide their services to visitors eager to experience this World Heritage-listed natural icon,” he says. “The Great Barrier Reef is a tourism billboard that can literally be seen from outer space. Tourism operators are in a strong position to benefit substantially from this prime advertising real estate.” According to the latest figures from GRMPA, the Great Barrier Reef Marine Park reported 1.13 million visitor days in the financial year ending 30 June, 2021. This represented a decrease of around 52 per cent when compared to the previous eight-year pre-COVID average. With international borders opening, and a renewed sense of optimism in the Australian domestic tourism market, it’s high time we swapped those face masks for snorkel masks. A reef revival? Sign us up. END

“Together, it’s our role to continue to care for the reef and by visiting, you’re contributing to its conservation and helping to protect it for many generations to come.”

Feature

Reef & Sleep Mother Nature provides the coral beds, we supply the hotel beds. Looking for an opportunity to invest in property along arguably Australia’s greatest tourism icon? Check out some of our current listings here.

Kellys Beach Resort Bargara

Offered for the first time in 17 years and situated in one of the fastest growing destinations in Queensland, this 3.5-star resort is a great opportunity for incoming managers to take this business to the next level, building on the strong foundations in place.

Pavillions at 1770 Agnes Water

Nestled among the dunes in a prime and pristine beachfront location, Pavillions on 1770 was developed by the Curry Kenny Group, opening in 2006 at a reported cost of $62 million. Pavillions on 1770 is the premier accommodation in the region.

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Reef Gateway Apartments Cairns

As the name suggests, this accommodation is a great gateway to not only Cairns and all of its local city attractions, but also to the Great Barrier Reef. Select from a standard townhouse to a balcony apartment.

The Channel Inn, Hinchinbrook Resorts Lucinda With a selection of 12 villas and 3 houses, The Channel Inn offers self-contained and fully-equipped accommodation. Positioned with views over Hinchinbrook Island, each Waterfront House offers a view over the canal and boasts a private pontoon for water access.

Cairns

Townsville Lucinda Bowen

Coral Cove Apartments Bowen Perched on the edge of the Coral Sea, every apartment in this luxury accommodation has views over the warm waters of this coveted region. Offering everything from one-bedroom apartments to a penthouse, relax in the generous pool and spa or grab your snorkel and plunge into the ocean, steps from your front door.

Agnes Water Bargara

Coconut Glen Caravan Park Townsville With a tropical pool, shady barbecue facilities, outdoor eating areas and campers’ kitchen, plus a commercial laundry, Coconut Glen ticks all the boxes. Accommodation here includes studio cabins, caravan sites, tent sites and CMCA Dollar Wise sites.

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Property Profile

Suite Dreams Australia’s first underwater accommodation has caused quite the splash. Reefsuites – 40 nautical miles off the Airlie Beach mainland and four metres beneath the ocean – brings new meaning to luxury down under. Words_Christine Retschlag

Reefsuites

THE COUNTRY’S FIRST UNDERWATER ACCOMMODATION

They’re the operators behind 13 of Australia’s most iconic tourism experiences including The Ghan, Rottnest Express and Sal Salis Ningaloo Reef, so it’s no surprise Journey Beyond’s Cruise Whitsundays’ Reefworld – home to Reefsuites – has been a success as roaring as the ocean upon which it is perched.

And evolution is the name of the game when it comes to the Reefworld pontoon which was acquired by Cruise Whitsundays in 2012. The original pontoon, on Knuckle Reef, enabled tourists to swim, snorkel and dive and included an underwater viewing chamber for those who wished to view the reef without getting wet, as well as basic swags on the top deck as part of an overnight Reefsleep experience.

Recently bought by the Hornblower Group – a global leader in world-class experiences and transportation – Journey Beyond will continue to deliver and evolve this dynamic tourism portfolio.

When Cyclone Debbie smashed the Whitsundays and Reefworld in 2017, it provided the opportunity to rebuild bigger and better. Enter: Reefsuites – the country’s first underwater accommodation.

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The two premium suites, which sit four metres beneath the ocean surface, form part of a $10 million redevelopment of the pontoon which also includes an upgrade from the swags to more comfortable Reefbeds. The uber private suites, which measure three metres wide and 3.5 metres long, come replete with floorto-ceiling glass - from which to view the reef and its inhabitants - USB ports and power points, and ensuites with toiletries, robes and a hairdryer. “We reopened the new Reefworld pontoon with Reefsuites and the renewed Reefsleep experience in 2019,” Cruise Whitsundays General Manager Lee Newton says.

“Building underwater accommodation as part of a floating pontoon is no easy feat and we engaged the expertise of a naval architect and a marine design company. “We undertook a series of tests throughout the build to ensure the pontoon’s safety, including air flow and pressure tests. The pontoon balancing is a finelycalculated analysis which considers the pontoon’s weight and water ballast tank volumes and is all managed by a qualified naval architect.” The result is a unique accommodation offering which includes an onboard chef who utilises local produce like Whitsunday wild barramundi and quintessential Queensland ingredients such as mango puree in the five-star meals which are served in between copious snorkelling adventures.

So successful is this venture, that Reefsuites are solidly booked six months in advance. “Working on the Great Barrier Reef as we do is a real privilege and we want that sense of privilege and commitment to the environment to prevail with guests,” Mr Newton says.

“We want them to be in awe of the incredible show natures puts on and find it a seamless and unforgettable guest experience. “Whether they’re local, from interstate or overseas, whether they’re seasoned visitors of first timers, we want each person’s experience to leave them with a sense of wonder and fulfilment.” END

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Faces Of The Industry

Where The Rainforest

Meets The Reef

For almost two decades their surname has been synonymous with luxury. Founded by James and Hayley Baillie in 2003, the Baillie Lodges’ collection includes Longitude 131 at Uluru-Kata Tjuta, Capella Lodge on Lord Howe Island, and Silky Oaks Lodge in the Daintree Rainforest among other delectable destinations. The Baillie’s share the secrets of their success, their passion behind the luxury accommodation industry, and the new-look Silky Oaks following a $20 million refurbishment. Words_Christine Retschlag

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Photographer_Peter Braig

It's been a busy few years for James and Hayley Baillie. In 2019, an affiliate of KSL Capital Partners acquired Baillie Lodges with the aim to further expand the collection of luxury lodges including Silky Oaks Lodge in the Daintree Rainforest. A year later, their flagship property Southern Ocean Lodge on Kangaroo Island was destroyed in the 2020 bushfires. And then along came a global pandemic. It was enough to stop anyone in their tracks. Except, it didn’t. In November 2020, Canada’s Clayoquot Wilderness Resort joined the collection in early February last year, Baillie Lodges added New Zealand’s iconic Huka Lodge to its portfolio, marking a bold leap into international waters.

More recently, The Louise in the Barossa Valley has come under the Baillie banner, and the rebuild of Southern Ocean Lodge is underway, with a reopening slated for mid-2023.

But it’s the new-look Silky Oaks Lodge for which James Baillie holds a special affinity. “This property has always held a place in my heart as I was the general manager there in the mid-1990s, so having it under our own brand is a circle completed,” he says. “It’s now a very different time for Queensland tourism, and we’re thrilled to invest in the destination and its operators, bringing a stylish and contemporary vibe to the luxury lodge and offering so many ways for our guests to experience the tropical north.

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Faces Of The Industry

“We like to think Silky Oaks Lodge offers a new way to experience the world’s oldest living rainforest.” Under this new experience, guests making the 50-minute journey along the Great Barrier Reef Drive can tune into Baillie Lodge’s new Luxury Redefined podcast for a virtually escorted arrival. Once at the lodge, visitors can escape to the main lodge or one of 40 guest suites which have been recreated to reflect “cool, contemporary luxury” including king beds and premium finishes.

“We like to think Silky Oaks Lodge offers a new way to experience the world’s oldest living rainforest.” Soaring ceilings, slowly turning fans and generous open-air spaces are designed to welcome guests to the ambience of the world’s oldest rainforest, perched on the Mossman River, in which they find themselves. “We were unfortunate in our timing for the Silky Oaks’ refurbishment just as COVID-19 hit and so we were challenged with builders and designers’ access to the site. We were lucky to have Lodge Manager Sonya Boaden, Chef Mark Godbeer and a small team remain onsite, which meant we were able to make more progress than we otherwise would have done,” Mr Baillie says. “We wanted to offer a more contemporary experience of the region while maintaining the essential footprint and vibe. The result is a new main lodge with ceilings that reach for the rainforest canopy, while suites are dotted among the rainforest and offer luxuries like outdoor baths. “We have redesigned the lodge to really welcome the rainforest in, with dark interiors allowing the forest greens to ‘pop’ in a visual sense. We have partnered with premium local operators to deliver adventures in Mossman Gorge, the Daintree, Great Barrier Reef and Cape Tribulation. Silky Oaks’ central location makes it an ideal hub for exploring all that Tropical North Queensland has to offer.”

And what’s next for the Baillies? “We are renovating The Louise in the Barossa, and then looking to Huka Lodge in New Zealand for renovations when the travel bubble opens,” Mr Baillie says.

“ My advice? Have a vision and commit to it, with room for new ideas along the way to make the vision even better.” END

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Analyst Feature

Vacancy rates, rental prices and Management Rights – what’s the link? ResortBrokers’ in-house property economist Josh Mangleson examines the current state of the industry

Residential vacancy rates continue to tighten across Australia, with latest national figures from SQM Research revealing a 16-year low, down -0.8 per cent to just 1.2 per cent annually. Rental markets are considered “healthy” at around 3 per cent according to the Real Estate Institute of Australia, with solid rental growth often beginning to occur at around 2 per cent. The decline in the national vacancy rate cannot be attributed solely to the scattered migration seen across some parts of the country. Even CBD markets, which bore the brunt of COVID-19 in their loss of people to regional areas or city fringes, are now largely recovered to pre-pandemic vacancy levels. The major CBDs of Sydney, Melbourne and Brisbane are each exhibiting rapidly-tightening vacancy rates, with the Brisbane CBD now sitting at its lowest since 2013. As international borders re-open and immigration normalises, this trend will only become more aggressive due to limited incoming supply in the residential development pipeline. For context, in 2019 PRD Research reported a three-year average annual commencement of 11,946 apartments in the Brisbane Metro area for the period 2018-2020. At present, the source of this data (Cordell Connect) currently shows an estimated 7,162 apartments commencing in Brisbane Metro across 2022 - a figure significantly lower than previously seen. Limited net absorption of new developments in the pipeline will continue to favour investors in the near-term

A 16-year low in national vacancy rates continues to put pressure on rental markets

Double benefit for Management Rights’ operators leading to increased net income through: •

Increased letting pool sizes with looming uptick in investor activity

•

Pass-through of increased rental rates via management fees

This highlights how a pattern of net absorption will continue to favour residential investors in the near term due to limited incoming stock. Adding further attraction to residential apartment markets are uplifts in median rental prices, which are even outpacing unit median price growth in some areas, resulting in increases in average rental yields. As investors look for security of returns in a lowcost environment, and residents are more and more comfortable in returning to inner-city dwellings, perhaps apartments are once again a truly attractive prospect.

What it means for Management Rights Any increase in residential investment activity will immediately benefit the Management Rights’ industry, with increases to business’ letting pool sizes a distinct possibility as a result of investors purchasing units. The pressure from tight vacancy rates which is leading to increased rental prices, is also beneficial to Management Rights’ businesses, by passing on a larger dollar value for managing renegotiated rental prices. Both of these factors directly increase net income through the letting component of the Management Rights’ model and, in turn, increase Management Rights’ business values. In more good news for Management Rights’ owners, a low vacancy rate and limited supply in the development pipeline means the current rental environment is here to stay. END resortbrokers.com.au

No. Golden #2 M SRule R O ONo. No. Golden Golden #2 Rule Must show the Gross Income #2 Rule

MOTEL LEASEHOLD

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Management ManagementRights Law Specialists

Alexander Motel Whyalla, SA

Australia Wide Austral

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MANAGEMENT RIGHTS 41 TOWNHOUSES

21 LETTING

20 YEARS OWNER’S RESIDENCE 4 BED 2.5 BATH

Everton Grove

Everton Park, QLD

REF // MR007120

Immaculate modern townhouse complex, with huge manager’s stand-alone townhouse Everton Grove is an extremely well-maintained complex, complete with a large stand-alone manager’s townhouse and office perfect for an incoming manager with a family. This complex boasts stable income benefiting prospective buyers (with Body Corporate salary being 65 per cent of net) and has long agreements in place (20 years). The committee and owners are cooperative and easy to work with, solidifying the business value to the incoming purchaser. Everton Park is a prime city-fringe location with strong infrastructure, close to employment hubs and excellent transport options making it popular with renters, assuring the new on-site manager of continuing low vacancy rates, quality tenancies and lifestyle to boot. The large and appealing manager’s townhouse is extremely liveable as a stand-alone residence, with a big, open-plan kitchen/lounge/dining area, four bedrooms/2.5 baths and huge two car garage as a separate outdoor manager’s car space. Coupled with a downstairs office and no set office hours, Everton Grove provides real flexibility in the running of your new Management Rights’ business. Immaculately presented townhouse complex Huge 4br /2.5 bath/ 2 car manager’s townhouse (stand-alone) 65% of net coming from Body Corporate salary Fantastic Everton Park location, close to transport/ schools and amenities Long agreements, soon to be topped up to 25 years

Net Profit $74,533 Price $885,000

FRANK MATUS

TIM CROOKS

BROKER

D I R E C TO R

+61 435 742 698

+61 417 544 562

frank@resortbrokers.com.au

tim@resortbrokers.com.au

MANAGEMENT RIGHTS 23 APARTMENTS

20 LETTING

20 YEARS OWNER’S RESIDENCE 1 BED 1 BATH

Altitude on Montville Montville, QLD

REF // M R 0 0 7 1 3 9

Luxury in the Sunshine Coast hinterland Boasting breathtaking views across the coast, luxury accommodation, architectdesigned building Altitude on Montville represents a rare opportunity to secure a high-performing, chic investment. The complex is eco-friendly, aesthetically striking and well located within walking distance to one of the hinterland’s most beloved villages, Montville. Altitude on Montville is also in a beautiful location for wedding receptions and first-class business events. The business offers stunning studio, one-bedroom. two-bedroom and threebedroom options. All 23 units are well appointed which is standard throughout the entire complex. Rooms are complemented by fireplaces, large bath and charming decor - perfect for a romantic weekend away to the hinterland. Still to realise its growth potential, with the borders now open and the long backlog of brides waiting to whip out their over-priced white gowns, Montville is in for a record-breaking season – now is the time to buy. Affordable real estate No requirment to reside on site No set office hours Long tenure of 20 years Strong letting pool Stunning property located in the Sunshine Coast hinterland Opportunity for growth heading into a bumper season Aesthetically-pleasing, architect-designed property

Net Profit $452,239 Price $2,150,000

GLENN MILLAR

CHENOA DANIEL

BROKER

+61 412 277 804

+61 403 143 151

glenn@resortbrokers.com.au

chenoa@resortbrokers.com.au

Management Rights 15 ROOMS 7 LETTING 19 YEARS

OWNER’S RESIDENCE 2 BED 2 BATH

Le Lavendou

Broadbeach, QLD Changing of the guard Looking for a foot in the door of the Management Rights’ industry and the Gold Coast lifestyle? Le Lavendou is a small Management Rights’ business that can easily be run by one person. Located in the heart of desirable Broadbeach and conveniently located minutes’ walk to premier dining precincts, the best beaches in the world, Star Casino, Pacific Fair and Convention Centre, this little business has it all. A strong 19 years remaining on the Caretaking and Letting agreements, this easy-tomaintain complex sits on a small footprint. With a supportive Body Corporate and room to improve on COVID-affected figures, buy today and watch your net profit and investment grow. The complex has a total of 15 units. Of these, seven are in the manager’s letting pool and these are all let on a short term / holiday letting basis. There are four owneroccupied units and three units managed by outside agent. All units have been meticulously maintained and present beautifully. The manager’s residence is a comfortable two-bedroom, two-bathroom ground floor unit with two car spaces. The vendors are ready to retire, and motivated to move on, so now is your chance. 19 years remaining on agreements Easily managed by 1 person Excellent location Experienced vendor to assist with all training required No set office hours Enjoy the Gold Coast lifestyle today

Net Profit $67,558 Price $805,000

STEVE CAMPBELL BROKER +61 407 220 668 steve@resortbrokers.com.au

REF // M R 0 0 6 8 3 8

FREEHOLD MOTEL 25 ROOMS

68% OCCUPANCY

OWNER’S RESIDENCE 3 BED 2 BATH

Biloela Palms Motor Inn Biloela, QLD

REF // F H 0 0 7 0 8 6

This is your chance to secure an outstanding 25-room freehold motel in Biloela with room to grow The town of Biloela is a thriving Central Queensland mining and agricultural hub, and is home to a host of ancillary businesses which support these industries. Biloela Palms Motor Inn reported outstanding 68 per cent occupancy for the 2020/21 FY. The current vendor maintains a consistent $140 per night tariff, however we think there is a huge opportunity to increase the tariff by $5 to $8 per night. This would substantially increase the net profit under new ownership. The motel is approximately 21 years old with a swimming pool at the rear of the property, ample undercover parking and free Wi-Fi. The spacious three-bedroom manager’s residence is built over two levels. The restaurant space is ideally suited for small meetings and conferences with 30 seats indoors and a further 20 seats in the alfresco area, which would make an ideal breakout area. This motel was leased for 19 years, and most recently was run under management, after the vendor took the property back. This business needs a strong owner-operator to drive the numbers and reap the benefits of this great opportunity. Thriving central QLD hub Opportunity to raise tarriff Spacious manager’s residence Swimming pool Outstanding occupancy

Net Profit $451,000 Price $3,100,000

IAN CROOKS

NATHAN BENJAMIN

CHAIRMAN

BROKER

+61 411 171 648

+61 459 955 649

ian@resortbrokers.com.au

nathanb@resortbrokers.com.au

Broker Insight

Skyrocketing prices prompt investigation into real-estate-to-business-ratio Words_Glenn Millar

It’s no secret that Queensland real estate prices have exploded off the back of demand generated by southern migration and record low interest rates. But concerns are arising that another cause of this explosion is linked to Management Rights’ operators splitting out the unit from the business.

With real estate values soaring sky high, this dramatically changes the real-estate-to-business-ratio. As a result, we are starting to see several Management Rights’ operators exploring the separation of their lot from the Management Rights, selling the lot and residing offsite. In the Sunshine Coast alone, more than 100 suburbs have been listed, with median house prices in eight suburbs increasing by more than $500,000 in 18 months. Overall, the Sunshine Coast’s median house prices increased by 48 per cent to $968,308 compared to a 27.2 per cent rise in greater Melbourne ($941,000). Back when real estate wasn’t as expensive, and based on the informal calculation that the real estate should not exceed more than 40 per cent of the total sale value, this was not an issue. Now, with the average manager’s unit on the Sunshine Coast nudging $1 million + in many cases, the tide has turned.

“ With the average manager’s unit on the Sunshine Coast nudging $1 million+ in many cases, the tide has turned.” As we all know, every Management Rights’ business is unique. There are no hard and fast rules, but in general terms, there are some challenges that you will face when splitting out the real estate portion of the business. Council by-laws usually provide a form of protection through special usage rights given to the owner or occupier of the manager’s lot. Some of these state a lot ‘associated’ with the holder of the Management Rights’ agreements. Some may allow different lots to be nominated. Changing the by-laws will require a special resolution at a general meeting, and in some rare instances a resolution without dissent. Your local council may also need to be involved if a subdivision of the office

Source: Pevy Lawyers – Core Logic

from the residential parts of a unit are necessary. This makes the situation much more difficult and time consuming. By splitting the unit out, it effectively takes out the non-revenue producing asset and allows it to be sold down if the agreements allow it. However, before you think about this, you will need to review what the Management Rights’ agreements include about owning a lot and residing onsite. The Property Occupations Act does not require you to reside onsite anymore as a condition of your resident letting agents’ licence, but that does not mean that the obligations in the Management Rights’ agreements to reside onsite have changed.

“ Persuading a Body Corporate to support a manager moving offsite is often much more difficult to get passed than a top-up of term.” If you are contractually bound to live in a lot, you have to, no ‘ifs or buts’. The reasons you should be considering this is to attain maximum flexibility without upsetting the Body Corporate. Any changes to your Management Rights’ agreements will require an ordinary resolution at a general meeting. And as most lawyers will tell you, persuading a Body Corporate to support a manager moving offsite is often much more difficult to get passed than a top-up of term. Objections may be many and include the misconception that owners pay you to reside onsite. Concerns may be raised about what happens if there’s a fire or an emergency and who will deal with this. You need to be ready for this and plan your responses well. Splitting out the unit can be done and there is no doubt the rewards are there for those who have the patience to succeed. However, the key takeaway is that it is not an easy task and one on which you must obtain legal advice early in the process. END

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MANAGEMENT RIGHTS 41 SUITES

41 LETTING

23 YEARS

Kelly’s Beach Resort Bargara, QLD

REF // M R B 0 0 7 0 6 1

Iconic resort on Queensland’s Coral Coast - high ROI ResortBrokers has been appointed as marketing agents for the sale of the Management Rights and associated freehold of the iconic Kelly’s Beach Resort located in Bargara in Central Queensland. This offering presents a great opportunity for incoming managers to take this business to the next level, building on the strong foundations in place. Offered for the first time in 17 years, the 3.5-star Kelly’s Beach is a multi-award winning resort and is the only mainland eco-accredited resort on the southern Great Barrier Reef. It’s located a block back from the beach on 5.5 acres of gardens and there is a total of 41 villas with all 41 of these in the letting pool. The resort is classified as an accommodation-only facility so no owner occupiers are permitted. The ground floor of the reception building, which includes the restaurant/ bar, office and kiosk, is 344 sqm. The facility has a commercial on-premises liquor licence which covers the whole complex. Long accommodation module agreements Potential to increase food and beverage business Zoned tourism accommodation only Healthy Body Corporate salary Valuation available on freehold Eco-accredited resort No unit to buy and no requirement to reside onsite

Net Profit $318,000 Price $1,600,000 - Includes all freehold

GLENN MILLAR

CHENOA DANIEL

BROKER

+61 412 277 804

+61 403 143 151

glenn@resortbrokers.com.au

chenoa@resortbrokers.com.au

New training requirements the ‘passport stamp’ for the real estate industry The Office of Fair Trading (OFT) has approved new training requirements for people wanting to enter the real estate industry. The new training, as part of initial licensing requirements, follows an independent review of the national property services training package. Before approving the new training, the OFT consulted on its potential impact with a range of industry bodies and stakeholders including the Real Estate Institute of Queensland (REIQ), Australian Resident Accommodation Managers Association (ARAMA), and the Australian Livestock and Property Agents Association (ALPAA). ResortBrokers Director of New Developments and Hotels Tim Crooks welcomes the move but says there is a current backlog in processing licences. “Now, before you accept an offer, you need to ensure that your licence is not just complete but lodged at the Office of Fair Trading,” he says. “There is a growing number of people who get qualified in the industry but are not prioritising lodgement with the OFT and don’t realise they are not qualified to practice. “In terms of training, the REIQ is one of the most wellrespected bodies in the industry and ResortBrokers works closely with them, however with sensitivity around the timing of deals, there is a place in the market for companies such as the Validum Institute, which has trained more than 8500 real estate professionals in Queensland alone.”

“People using services provided by the real estate industry need to be confident their property and financial interests are protected by licensees operating with the right blend of integrity, expertise and professionalism.” Anyone wanting to obtain a real estate licence will be required to complete the new training ahead of applying for the following registration and licence classes: • • • • • • •

Auctioneer (property) Chattel auctioneer Limited real estate agent – affordable housing Limited real estate agent – business letting Real estate agent Real estate salesperson Real estate letting agent

The new training requirements do not impact people who hold current registrations and licences. Validum Institute Director Victor James Pisanos says under the legislation, agents need a Certificate IV in Real Estate Practice. “Prior to this, there has been a stigma that people in the industry can get qualifications really easily and really quickly,” Mr Pisanos says. “Now there are new compliances for people in the real estate industry and they need to be well versed in that. The certificate has given them the criteria to be taken more seriously. “Doing the course with us is like a stamp in the passport to get into the industry.” END

Fair Trading Executive Director Brian Bauer says it is important to ensure qualifications for licence requirements are contemporary, meeting the needs of industry and expectations of people using critical real estate services. The new training requirements also remove units of competency that are obsolete or duplicative. “Queensland has 14,647 licensed real estate agents and 19,659 registered salespersons, and the OFT issues approximately 5,000 new real estate licences and registrations annually,” Mr Bauer says.

resortbrokers.com.au

Success Stories

FROM PLASTERER & PLUMBER

To Property Owners 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.

BUSINESS 1: YAMBA SUN MOTEL ROB & DAVE SALCE

YAMBA SUN MOTEL

BUSINESS 2: CHINCHILLA MOTOR INN

BUSINESS 3: BUSHMAN’S MOTOR INN

Tradie Rob Salce, 45, who lives on the Gold Coast and works as a plasterer, and his brother Dave, a plumber, who lives in Melbourne, decided to invest in motels to future-proof their retirements.

the global pandemic, particularly when Omicron arrived last year.

Around four years ago Rob and Dave Salce decided to build residential units at Mermaid Beach, which whet their appetites for the property industry.

“We just had to scrape through those three months.”

“We’ve always liked property and bought and renovated houses before separately and we decided to do this project together,” Rob says.

“We’ve started moving forward and things are going well now. We had near 95 per cent occupancy for Yamba for December/January. Parkes is moving along all right with 80 per cent over Christmas,” he says.

“We were looking at passive investments and a different line of income. I was the soccer coach of the son of ResortBrokers’ Gold Coast broker Steve Campbell and we started talking about motels and income and we decided to move in that direction. “Dave and I went and purchased the freehold and leasehold on the Yamba Sun Motel in 2020 and in the same year we purchased the leasehold on the Chinchilla Motor Inn. “We were getting on a roll and were heading down to Parkes in New South Wales to purchase another lease but it sold so we ended up putting our attention on the Bushman’s Motor Inn freehold and leasehold in Parkes.”

“ We’ve always liked property and bought and renovated houses before separately and we decided to do this project together.” The brothers sold the Chinchilla Motor Inn at the end of last year, and Rob admits the industry has been a “big change” from working as tradies. “We are trying to get out of our trades and move forward with other projects. I needed a change from being on the tools all day,” he says. Rob says the hardest part of the past two years has been

YAMBA SUN MOTEL

BUSHMAN’S MOTOR INN

“The second wave was what hurt. Everything was looking great until that next wave and we pretty much had to close the motels again.

Thankfully, for these entrepreneurs, things are looking up.

For those seeking to follow in the footsteps of these two tradies, Rob says it’s working with motel managers which is both the shock and surprise of their ventures.

“ T he second wave was what hurt. Everything was looking great until that next wave and we pretty much had to close the motels again. We just had to scrape through those three months.” “I thought once you’ve got managers a motel would run itself but it’s not that simple. Equally, getting to know our new managers has been a pleasant surprise,” he says. “My advice would be to just have your eyes open and do your homework on the region. It is a rewarding industry if you’ve got a good place in a good area. “We look at new infrastructure coming on in a region and that’s why we picked Parkes. We picked Yamba because of the beach. Our next move would be more coastal again as the capital growth is really good. “We absolutely wish we’d moved into property sooner than two years ago. Our Mermaid Beach units are all rented out for the residential market and we’re glad we held on to them.” END

CHINCHILLA MOTOR INN

Feature

Camping & Caravanning Industry Reaches Fever Pitch Last popular in the 50s, 60s & 70s, caravanning and camping has made a spectacular comeback across the nation. Words_Christine Retschlag

NATIONAL CABIN OCCUPANCY

Jan 2022 68%

Jan 2021 66%

NATIONAL UNPOWERED SITES OCCUPANCY

Jan 2022 24%

Jan 2021 27%

TOP 3 REGIONS FOR POWERED SITES OCCUPANCY HOBART & THE SOUTH

91%

resortbrokers.com.au

PHILLIP ISLAND

91%

SUNSHINE COAST

88%

POWERED SITES OCCUPANCY

Jan 2021 58%

Jan 2022 62%

QLD LED HIGHEST GROWTH IN CABIN OCCUPANCY

QLD 15%

TAS 11%

HIGHEST CABIN OCCUPANCIES NATION WIDE PHILLIP ISLAND

92%

CENTRAL COAST NSW

89%

GREAT OCEAN ROAD

87%

Australia has entered the “golden era” of caravanning and camping, according to Caravan Industry Association of Australia CEO Stuart Lamont. Mr Lamont says while other sectors of the tourism industry – such as international travel and cruising – have been hammered by the global pandemic, caravanning and camping have emerged as the unlikely winners in an industry which is perceived as “safe, affordable and attractive.” “We’ve been very much blessed by COVID and not many industries have been able to say that,” Mr Lamont says. “There has still been some heartache from COVID with border closures and last-minute cancellations, but we are certainly doing better than others. “Across the board our occupancy is up relative to the past couple of years. Manufacturing of new caravanning products alone is up 30 per cent. “In the 1970s, with Cyclone Tracy in the Northern Territory and the start of the mining boom, there were a lot of caravans with about 35,000 new units. “In 2021, demand for new units was at 50,000.” Mr Lamont says Australians are unlikely to abandon their caravanning holidays now that international borders have opened. “If you’ve got $20,000-$150,000 sitting in your yard you are emotionally invested in caravan parks,” he says.

“Some people may go overseas but will still continue to go caravanning and camping in Australia too. These are high-priced items and demand for these products doesn’t seem to be abating. “There are still a lot of nerves within a portion of the market about overseas travel and what happens if borders close or they get sick.”

Mr Lamont has welcomed the Australian government approval of 75,000 working holiday visas as a positive injection into the industry. “Working holiday makers are going to flood in in the future and where they will stay will be in caravan parks and renting caravan products,” he says. “That is nice cream on top.” One of the current industry challenges is the corporatisation of caravan parks with big companies taking over what was once a “mum and dad” industry, according to Mr Lamont. He says for those looking to buy a caravan park asset, they represent a great investment. “Large companies are borrowing at next-to-nothing and their ability to pay over for caravan park assets has never been better,” he says. “It’s getting harder and harder for mum and dad operators to take over.

“For those who can get into the industry, there is a lot of money being directed into the caravan park industry and values have absolutely held up at the moment. “They are in the most spectacular locations in the country and have a great cashflow.” Mr Lamont says caravanning is so popular because it is “part of the Australian psyche”. “It’s always had a soft spot and it’s well thought of,” he says. “There was a real popularity in the 50s, 60s and 70s and with COVID and the digital and tech era, people are looking for that reconnection. “It’s all about ‘how can I give my kids a wholesome holiday option?’ “Absolutely we are in a golden age. The question is how long does this age go? There is a long pipeline ahead.” END

resortbrokers.com.au

On The Market

Should I stay or should I go? The BIG question the accommodation industry is asking itself right now. Words_Trudy Crooks, Managing Director

Wise people have always said that success in real estate is all about timing. Recognising the perfect moment to buy or sell is always challenging and we are seeing many of our current clients across Australia grappling with this dilemma. Much of the confusion we are witnessing swirling around the Australian commercial property sector has been fuelled by the impact of COVID-19. The global pandemic has created a two-speed economy in which some properties are coming off a terrible year of earning. But despite being emotionally “checked out” of their business, to sell now would mean not reaping maximum profits after years of hard work. Other regions are staring down the barrel of a great year. Our Gold Coast brokers report they are seeing the most robust business there in two decades. Understandably, investors in this market want to hold on and maximise their earnings before taking the property to market. But they are equally nervous about what the future holds in this new post-pandemic paradigm in which we operate. Tossing even more confusion into the current chaos is the uncertainty surrounding inflation and interest rates, with most economists forecasting rates will now rise mid this year. On top of this, we have a looming Federal Election on or before May 21, the outcome of which even the shiniest crystal ball is struggling to predict. As I write this, Australia’s international borders have opened today for the first time in some 700 days. Will the boom in domestic tourism and regional Australia continue? All of these factors make it easy to see why our brokers are fielding daily calls from clients confused about whether they should sell now or hold on for another 12 months. resortbrokers.com.au

In times of uncertainty, it’s critical to read the economic signals:

Interest rates will rise over the next 24 months which could have a knock-on effect to capitalisation rates. The cheaper the money, the more someone can afford to pay and vice versa.

Buyer demand is at an all-time high from all sectors of the market. This includes newcomers wanting to relocate and be their own boss to corporates looking to invest capital in the appealing hotel industry.

Deals are taking longer than ever so if you want to be out by Christmas, the time to be on the market is now.

Stock levels will be higher by the end of the year and supply vs demand is always one of the biggest determinants in a good result.

A new trend As pioneers of the leasehold concept and currently transacting about 100 leasehold properties a year, ResortBrokers is always taking the market’s pulse and keeping an eye on new trends. We are witnessing a big opportunity to capitalise on a new market with the demand for Freehold Going Concern hotels, motels and parks like nothing we’ve ever seen. As I mentioned in the previous edition of Informer, this is driving a sharpening of capitalisation rates. To benefit from this, we are working with many lessees and their landlords to enable them to go to market together in one line. This is helping operators exit their property faster and is reaping great sale prices for both parties. We would recommend that if you are thinking of selling your lease that we speak with your landlord and go back to market in one line. Just like splitting properties was great for the market when we launched this concept in 1985, this is a definite win/win for all parties in the current market.

Speaking of win/win, we’ve been working on some big deals.

Salt, Beaches on Lammermoor & Echelon_Yeppoon, QLD

Kulgera Roadhouse_Ghan, NT

Portfolio of 4 beachfront complexes. Net $10mil+. Record multiple achieved.

Located in the heart of the country, this property is a cash machine.

Jolly Knight Motel_Casula, NSW

Wanderers Holiday Village_Lucinda, QLD

Freehold sale of one of the original sydney suburbs motels.

We had numerous offers on this great park. Highlighting the demand in this sector.

resortbrokers.com.au

MANAGEMENT RIGHTS 93 APARTMENTS

33 LETTING

20 YEARS

Lincoln on the Park Greenslopes, QLD

REF // M R B 0 0 7 1 2 2

Rare opportunity to acquire a business-only Management Rights just 3 km to Brisbane City Situated in a vibrant inner-city district, Lincoln On The Park represent a rare opportunity to purchase a business-only Management Rights’ businesses with no requirement to live onsite, no set office hours and long-term agreements. With NO real estate to purchase, this business offers a robust ROI of more than 16 per cent. The Body Corporate salary counts for 58 per cent of the total net profit which makes this business a must consider. This striking parkside residential building offers true lifestyle and convenience for its owners and tenants. Overlooking 5.2ha of lush parklands, the building features a distinctive internal breezeway with vertical gardens and a residentsonly rooftop pool, barbecue terrace, sunlounging deck and gorgeous city skyline views. Rising over eight levels, it offers 93 spaciously-designed one and two bedroom apartments that have been finished to a high standard. The floor plans span 62m2 to 140m2 with leafy outlooks. The ground foyer entry has a dedicated manager’s office and two lifts. Each apartment has an assigned underground car park. Managers can utilise the storage areas for cleaning and equipment. The vendor has provided strict instructions to sell. No requirement to purchase real estate or reside on-site No set office hours Solid BC salary - 58% of total income Long agreement terms - 20 years Easily managed caretaking duties Highly sought-after location with strong rental demand Solid foundation to continue to grow into long-term business Property inspections are by appointment only

Net Profit $190,287 Price $1,180,000

JESSIE SHI

TIM CROOKS

BROKER

D I R E C TO R

+61 422 935 428

+61 417 544 562

jessie@resortbrokers.com.au

tim@resortbrokers.com.au

MANAGEMENT RIGHTS 10 APARTMENTS

8 LETTING

8.5 YEARS OWNER’S RESIDENCE 3 BED 2 BATH

Lakeside Apartments Merimbula, NSW

REF // MR007035

Leave the rat race: live and work in stunning Merimbula Situated directly opposite the lake, Lakeside Holiday Apartments are perfectly located in a prime north-facing location, just minutes from the shopping precinct, restaurants and more. The nearby Merimbula Airport is serviced by both Qantas and Rex airlines. This compact complex is packed with features including a large in-ground solarheated saltwater swimming pool, half-court tennis court, table tennis table, a spacious barbecue area and manicured gardens. The current letting pool features eight of the ten apartments. Three years’ financials will be made available to qualified purchasers on request. The managers currently reside off-site, which is a choice for an incoming operator however there are several on-site options that can be utilised - please note that living off-site will require a full real estate licence. The apartment can either be fully utilised as the family home using all three bedrooms or could be rented out separately as a two-bedroom residence and the studio apartment rented separately. Another option is for the operator to live off-site and rent out the whole apartment. Offered only twice in more than 30 years Opportunity to reside offsite and generate income from letting manager’s residence Stunning waterfront north-facing location High volume tourism destination Spacious 3-bedroom apartment Easily run by a single operator

Net Profit $105,759 Price $1,595,000

GLENN MILLAR

RUSSELL ROGERS

BROKER

+61 412 277 804

+61 416 166 909

glenn@resortbrokers.com.au

russell@resortbrokers.com.au

MANAGEMENT RIGHTS 45 TOWNHOUSES 23 LETTING 22 YEARS

Dakabin Crossing Dakabin, QLD

REF // M R B 0 0 7 0 9 9

Quality add-on business-only permanent complex Fantastic Management Rights’ business, the offer is for stage 1, stage 2A and 2B of Dakabin Crossing. This complex comprises 45 high quality townhouses and is now fully established with 22 years remaining on agreements. Part of a masterplanned community, future stages 3A & 3B are due to commence in April 2022 and will consist of another 44 townhouses with communal pool area. A further 135 units and retail centre are in the pipeline over the next three to four years. This offers superb upside opportunity for the incoming manager to keep growing the rent roll and earning additional income if desired. This permanent townhouse complex is easy to maintain with limited gardening duties and no pool. It has no requirement to live on-site or own a lot stipulated in the agreements and there are no set office hours. Designs include a range of two and three-bedroom townhouses with quality finishes throughout. Located in Dakabin, in the burgeoning region of Moreton Bay, the business is close to amenities including train and bus transport services, an excellent array of schools, numerous parks and large-scale retailers IKEA and Costco at nearby North Lakes. It is also a 20-minute drive to the Redcliffe bayside and under 30 minutes to the Brisbane airport and CBD. Solid Body Corporate salary of $55K p.a. 23 in the letting pool with 3 outside agents Strong opportunity to increase net profit Business-only with no requirement to live on-site No set office hours and no real estate to purchase Easy one-person management with minimal gardens Stage 1 was completed in 2019 Stage 3A & 3B - 44 units + communal pool - coming soon

Net Profit $86,000 Price $473,000

JEFF KEAST

TIM CROOKS

BROKER, BRISBANE

D I R E C TO R

+61 414 669 007

+61 417 544 562

jeff@resortbrokers.com.au

tim@resortbrokers.com.au

MOTEL FREEHOLD 12 ROOMS

OWNER’S RESIDENCE 3 BED 1 BATH

Tall Timbers Motel Dungog, NSW Prime location, high demand freehold motel in Dungog Situated in the heart of Dungog is this fabulous freehold property, Tall Timbers Motel. Tall Timbers sits in the prime position of the main street of Dungog and consists of 12 rooms, a three-bedroom manager’s residence (currently being rented to guests), a large commercial kitchen and a space which was previously used as a restaurant. Walking distance to shops, schools, pubs, clubs, parks, restaurants and Dungog Train Station ensures the motel is the obvious choice for guests wanting to stay in town. The only other accommodation is the pubs however with council workers and other trades the preference is to stay at the motel. The business has performed exceptionally well despite many of the town’s events cancelled due to COVID. Dungog stages a number of events including a rodeo, polo and film festival ensuring the motel is fully booked out in advance. The vendors have had plans drawn for an extension for an additional eight rooms so there is ample room for growth. This great asset is a very reluctant sale from the vendors however they are ready to move on. Don’t miss your opportunity of securing this motel. Contact me now for more information. Prime location on main street of Dungog High demand for bookings Plans drawn to extend (not yet approved) Strong repeat business Strong performance during COVID Minimal competition

Turnover $329,952 Net Profit $203,675 Price Expressions of Interest

JACQUELINE FEATHERBY BROKER +61 424 497 056 jacqueline@resortbrokers.com.au

REF // FH007165

MANAGEMENT RIGHTS 56 ROOMS 40 LETTING 22 YEARS OWNER’S RESIDENCE 3 BED, 2 BATH

Rosslyn Bay Resort Rosslyn Bay, QLD

REF // M R 0 0 7 0 9 8

Holiday resort on southern Great Barrier Reef Offered exclusively to the market is the Management Rights and associated real estate to Rosslyn Bay Resort, a fantastic holiday complex located on a picture-perfect bay, perched on the southern Great Barrier Reef. Rosslyn Bay is the gateway to Great Keppel and surrounding group of islands. Its harbour hosts a flurry of ferries and vessels, as well as the award-winning Beaches Resort. The area is synonymous with fishing, sailing, whale watching and adventure boating. The property offers a range of room configurations (many refurbished) and an array of resort-style facilities including lagoon pool, pool bar and outdoor cinema. Spa treatments, yoga classes and on-site restaurant are also available through external management. The business is underpinned by excellent management real estate (apartment, reception, shop, office, storage) and lengthy tenure to the agreements. With significant future growth anticipated for the region (i.e. ‘Surf Lakes’ and Gina Reinhardt’s proposed Great Keppel redevelopment), the future is very bright for Rosslyn Bay. True holiday resort on southern Great Barrier Reef 56 apartments with 40 in on-site letting pool Range of studio, 1 bedroom and 2 bedroom options Great facilities including lagoon pool, bar, and outdoor cinema Popular on-site restaurant (separate management) Significant identifiable upside potential Strong trading history with strong forward bookings 22 years remaining on caretaking / letting agreements Walk to Kemp Beach, Rossyln Harbour and Beaches Bistro

Net Profit $458,398 Real Estate Price $475,000 Business Price $2,300,000

ALEX COOK

IAN CROOKS

D I R E C TO R

CHAIRMAN

+61 467 600 610

+61 411 171 648

alex@resortbrokers.com.au

ian@resortbrokers.com.au

MANAGEMENT RIGHTS 78 ROOMS

47 LETTING

15 YEARS OWNER’S RESIDENCE 3 BED 2 BATH

Pavilions on 1770

Agnes Water, QLD Large upscale offering in Agnes Water voted Queensland’s #2 beach in 2021 A prime opportunity to secure this beachfront Management Rights. The current corporate vendor wishes to divest the asset and has priced the business to sell and all reasonable offers will be considered. Nestled into the dunes in a prime and pristine beachfront location, Pavillions on 1770 opened in 2006 at a reported cost of $62 million and is considered the premier accommodation in the region. The complex features 78 spacious, beautifully-equipped apartments all with large spa baths, big balconies with barbecue’s, fully air-conditioned, Foxtel, secure entry, secure car parking and lift access to all levels. The facilities include poolside barbecue’s and entertaining areas plus a range of outdoor pools - heated spa, heated plunge pool, childrens’ wading pool and a 25-metre lap pool. There is significant growth potential to reclaim units in the letting pool as this sought-after destination grows. The manager’s accommodation features a freestanding two-level, three-bedroom, twobathroom manager’s residence, double lockup garage and large guest lounge on the lower level. This is complemented by a delightful landscaped outdoor entertaining area. Solid $500,000 net income Wages for all cleaning staff, reception and grounds/gardeners included in the figures Opportunity to decrease costs now incurred by the corporate entity ask us how High growth tourism destination Generous Body Corporate remuneration Absolute beachfront location Opportunity to regain the letting pool Three-bedroom manager’s residence priced at $600,000

Net Profit $500,000 Price $2,350,000

GLENN MILLAR BROKER +61 412 277 804 glenn@resortbrokers.com.au

REF // MR007105

FREEHOLD GOING CONCERN 31 ROOMS

OWNER’S RESIDENCE 5 BED 2 BATH

Latara Resort Motel Georgetown, QLD

REF // F H 0 0 7 0 3 1

Extremely profitable freehold motel with huge potential for growth Spread over 7.5 acres and consisting of natural bushland gardens and sweeping lawns, this extremely profitable motel creates an oasis in the rich beef cattle and gold mining region of Georgetown, Queensland. There are 31 well-appointed rooms offering modern conveniences including air-conditioning, flat screen TVs, guest laundry, saltwater swimming pool, barbecue area and fully licensed restaurant and bar, which is very well supported by in-house guests. With consistent year-on-year growth, Latara is the number one choice for strong, repeat corporate visitors and government workers which include mining and road crews, electricity, Ergon, education and health workers. It also has an extremely strong tourist trade. The one defining upside to this already impressive business is the fact that there is adequate land to expand with either more units or to take advantage of the burgeoning caravan park tourism sector. Given the current zoning of the property, there is no need to apply for a material change of use of the land to achieve this goal. Latara Resort would then further enhance its reputation as the jewel in the accommodation crown between Cairns and the Gulf of Carpentairia. Freehold Going Concern motel with 17% Return Located in area with growing gold mining and cotton growing expansion Plenty of room for addition of caravan park facilities 54-seat licensed restaurant well supported by guests Very strong repeat corporate and tourism clientele Enormous 5 bedroom manager’s residence Bore water and 2 massive water tanks ensuring beautiful lawns/gardens 2021/22 figures well on track to eclipse current figures

Net Profit $655,348 Turnover $1,038,947 Price $3,850,000 neg

SHANE CROGHAN BROKER +61 418 451 006 shane@resortbrokers.com.au

Management Rights 72 ROOMS 55 LETTING 24 YEARS

OWNER’S RESIDENCE 2 BED 2 BATH

Discovery Apartments Helensvale, QLD

This new Managment Rights will tick all the boxes This presents an outstanding opportunity to secure the Management Rights to a high-quality portfolio of beautifully-designed modern lifestyle apartments set among low maintenance gardens and pool and located right in the centre of the Helensvale urban hub. Discovery Apartments ticks all the boxes when it comes to purchasing a Management Rights’ business. With a modern and spacious new two-bedroom and two-bathroom ground floor apartment with a separate office, there are no office hours or requirements to reside on-site. With 24 years remaining, it is like buying off-the-plan with all the systems in place. Helensvale is one of south-east Queensland’s economic success stories as the first master-planned suburb built on the hinterland fringe of the Gold Coast. Its rapid growth has been driven by the fact that it is a central transport hub within easy striking distance of both the Gold Coast’s world-famous beaches and the Brisbane CBD. Near new complex 24 years remaining No office hours No requirements to reside on-site Separate office on title High investor profile location Great BC salary Room for futher growth Perfect add-on complex Systems in place for smooth transition

Net Profit $184,000 Price $1,630,000

PAUL MUELLER BROKER +61 439 255 507 paul@resortbrokers.com.au

REF // M R 0 0 7 1 1 7

FREEHOLD GOING CONCERN 10 ROOMS

OWNER’S RESIDENCE 1 BED 1 BATH

Bourke Bridge Inn Bourke, NSW

REF // F H 0 0 7 0 9 2

The most prestigious accommodation in town with space to grow Enter this property under a pergola draped in grape vines and feel removed from the outside world. Guests can retreat to their own quarters or rest and relax in the surrounding gardens and swimming pool. The main building consists of the manager’s quarters, commercial kitchen and two executive suites. The commercial kitchen can be used as a restaurant for internal and external clients as well as functions and corporate training facilities. Guest also have an undercover barbecue area adjoining the in-ground swimming pool. All rooms are spacious and of a high standard throughout. The business has run at a continued profit throughout COVID and would suit any operator looking to run a business in a relaxing atmosphere. The property also has a large amount of vacant unused land that could be developed into additional units, doubling both the number of units or a conference centre to manage large events. The potential is endless. This property would suit individuals or couples looking for a business to make your own. Properties such as this don’t come along often so don’t let this pass you by. Set on 9.93 acres with beautifully-maintained gardens Huge potential to enhance and increase income 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 $279,615 Net Profit $143,253 Price Expressions of Interest

CHRIS KELLY BROKER +61 431 055 221 chris@resortbrokers.com.au

Management Rights 49 ROOMS 24 LETTING 25 YEARS

OWNER’S RESIDENCE 2 BED 2 BATH

Meridian Tower

Kirra Beach, QLD High-performing holiday letting business in booming southern Gold Coast location Looking for a high-performing holiday letting business that has demonstrated resilience, performance and growth despite the impacts of the pandemic? Then look no further. This resort is perfectly located in one of the most popular southern Gold Coast beachfront destinations - Kirra Beach. This opportunity is not to be missed with long-term topped up 25-year agreements, no set office hours, >$400k net profit, repeat clientele and wonderful resort-style facilities. With many renovations recently completed to the complex and the manager’s residence, lots of the hard work has been done. Now it is up to you to take over and continue to reap the rewards. The business is delivering terrific income through focusing on the local tourism wave which is driving occupancy rates and rising room tariffs. This is a perfect opportunity to capitalise on the next few years of domestic tourism growth that the Gold Coast will undoubtedly experience. Do not hesitate to inspect this little gem as opportunities like this one do not last long. Incredible beachfront in sought-after southern Gold Coast location Long-term topped up 25-year agreements Consistent performance driven by local tourism and repeat guests Proven performance pre and post COVID with upside to continue growth No set office hours Renovated manager’s residence & renovated complex Supportive Body Corporate relationship with proactive group of owners

Net Profit $408,625 Price $3,063,000

TODD WARNER BROKER +61 438 170 763 todd@resortbrokers.com.au

REF // M R 0 0 7 0 8 4

MANAGEMENT RIGHTS 24 UNITS 18 LETTING 23 YEARS OWNER’S RESIDENCE 2 BED, 2 BATH

Melaleuca Resort Palm Cove, QLD

REF // M R 0 0 7 1 1 3

Beachfront Management Rights offering unrivalled ocean views Positioned for success on a beachfront location with unrivalled ocean views, Melaleuca Resort is just steps away from the cosmopolitan village of Palm Cove. This business is one of only a few of independently-owned resorts that line the palm-fringed golden sandy beaches of Palm Cove, Far North Queensland. The resort caters for couples or small families with its one-bedroom apartments. The apartments are fully self-contained and have been modernised over the years with quality appliances and tasteful decor. Guests can relax on private balconies with ocean views from all apartments. A large lagoon-style swimming pool further complements the resort, surrounded by an oasis of tropical gardens to provide privacy without interrupting the ocean views. A recently installed barbecue/pavilion dining area adds further convenience for your guests to cook with a view. While the pandemic has ravaged the tourism market in Far North Queensland, the newfound optimism and reopening of domestic and international borders see properties such as Melaleuca perfectly positioned to thrive in 2022 and beyond. Properties of this calibre and location are extremely rare in Palm Cove. Absolute beachfront location Same owner for past 15 Years Very consistent year-on-year results Perfectly positioned to grow post COVID Refurb and advertising funds paid monthly by owners Restaurants, cafés and bars located along foreshore 23 years left on agreements. No requirement to live on site. Palm Cove is an internationally & domestically-desired location Pre-COVID net profit figure consistently exceeding $200k

Net Profit $174,493 Price $1,650,000

SHANE CROGHAN BROKER +61 418 451 006 shanec@resortbrokers.com.au

MANAGEMENT RIGHTS 20 ROOMS 13 LETTING 18 YEARS

OWNER’S RESIDENCE 3 BED 2 BATH

Endeavour Inn Emu Park, QLD

Rare opportunity to secure Management Rights’ business in beautiful seaside town Situated only moments away from the beach, this Management Rights comprises a total of twenty apartments all of which have a relaxed and comfortable feel, enjoying views of the beautiful resort-style facilities. Thirteen of the apartments are currently managed in the letting pool, giving the incoming manager a solid net profit of $150,000 projected for FY 21/22 which equals an above-average 16 per cent yield on the purchase price. The manager’s residence has been thoughtfully designed and offers three spacious bedrooms and two bathrooms. It has a double car park and ample storage. The resort facilities at Endeavour Inn are easy to maintain and the overall caretaker duties are very manageable. Facilities include an in-ground pool and spa for guests to enjoy. The business is also really well supported with repeat corporate long-stay guests, direct bookings, holiday makers and wonderful owners and enjoys a very consistent income. Interest in the Capricorn Coast market is at an all-time high and this is the perfect opportunity to secure a high-netting, premium accommodation business. 16% Yield Lifestyle business with minimal caretaking duties Repeat long stay corporate clientele Gorgeous beautiful boutique seaside town Totally refurbished with nothing left to do Ample parking Property inspections are by appointment

Net Profit $150,000 Real Estate Price $425,000 Total Price $875,000

IAN CROOKS CHAIRMAN +61 411 171 648 ian@resortbrokers.com.au

REF // M R 0 0 7 0 5 8

MOTEL FREEHOLD 10 ROOMS 3 BEDROOMS 2 BATHROOMS

Award-winning, family-friendly motel in Culburra Beach Looking for a sea change? This is the one you have been waiting for. Nestled between Nowra and Jervis Bay in breathtaking surrounds, this easy-to-run 10-room motel offers a fantastic lifestyle for sea changers with young families, or empty nesters looking for a new venture while earning a proven income. Culburra Beach Motel has a sound reputation with perpetual bookings and excellent reviews across all booking channels. The motel has won numerous awards, with the most notable accomplishment being named as a Top 10 in NSW and Australia Gold List Achiever 2018 and 2019. Call today to arrange an inspection. Easy-to-run and profitable business Only motel in Culburra Beach Award-winning established business All rooms have been modernised Perfect for new entrant or someone transitioning into retirement

Culburra Beach Motel Culburra Beach, QLD

RUSSELL ROGERS Net Profit $284,890 SENIOR EXECUTIVE BROKER Turnover $408,171 +61 416 166 909 russell@resortbrokers.com.au Price Expressions of Interest

REF // FH007067

FREEHOLD 25 LARGE SITES 5 ACRES 5 5 0 M C R E E K F R O N TA G E

Freehold bush caravan park on 5 acres of natural Australian forest with creek frontage Rarely will you have the opportunity to acquire the freehold of a park, set over 5 acres of natural Australian rainforest. With 550 metres of absolute creek frontage which offers huge potential, Rainforest Gateway Campground is a true tree change. The opportunity for further income streams here is endless, think - functions, weddings, cabins. This property is prime for tapping into the ecotourism trend with the installation of luxury glamping tents, no DA’s required. If you have the vision to create a unique eco getaway and the desire to take advantage of the huge tariff’s that this sector of the accommodation industry is attracting, then you need to consider this property. Operating licence for 25 large sites Prime opportunity for expansion of luxury eco-style glamping tents, or cabins 4 separate dwellings - 1 x cottage, 3 x units, 1 x home (main residence) and shop Large covered outdoor communal kitchen, BBQ, functions deck and dining areas

Rainforest Gateway Campground Gradys Creek, NSW

REF // FH00XXXX

Price $1,250,000

GREG JAMES BROKER +61 416 247 068 greg@resortbrokers.com.au

THE DUE DILIGENCE COMPANY IS A SPECIALIST MANAGEMENT RIGHTS ADVISORY FIRM, OWNED AND OPERATED BY HAYDEN ROONEY CA, WHO HAS PROVIDED SPECIALIST MANAGEMENT RIGHTS ADVISORY SERVICES TO THE INDUSTRY FOR OVER 15 YEARS. THE FIRM FOCUSES ON YOUR ENTRY AND EXIT FROM YOUR MANAGEMENT RIGHTS BUSINESS, WITH THE FOLLOWING SERVICES: • FINANCIAL DUE DILIGENCE REPORTS ON ACQUISITION • ADJUSTED PROFIT & LOSS STATEMENTS FOR SALE OR REFINANCE GET IN TOUCH WITH HAYDEN TO DISCUSS YOUR REQUIREMENTS.

HAYDEN ROONEY CA DIRECTOR 0421 985 370 HAYDEN@DUECO.CO

“One of the most highly regarded and respected accountants in the industry, Hayden has established himself as a true management rights specialist. He’s guided experienced operators through their business growth and helped newcomers navigate their way into the industry, while maintaining an exceptional level of enthusiasm and professionalism. Hayden’s key trait is that he’s with you every step of the way.”

- Chenoa Daniel, ResortBrokers

DING FR EEH S TA N T OL OU O D

Leichhardt Accommodation & Fourth Avenue Motor Inn MOU

NT ISA, QLD

ResortBrokers is delighted to present to the market the best accommodation in Mount Isa with two thriving properties being run as the one business. Voted the best mining camp in east coast Australia, (third nationally), Mount Isa’s Leichhardt Accommodation shares a symbiotic business relationship with Fourth Avenue Motor Inn, just one kilometre away. A major highlight of this business opportunity is the diverse accommodation it offers and the huge range of clientele it attracts from FIFO workers and contractors, government staff (education and medical) and tourists. This business is the preferred supplier for accommodation to the Mount Isa Mines Rodeo. With strong future bookings and a stable and dedicated staff, plus options to cater for any health and safety requirements across the two properties, success in this business is secure.

Leichhardt Accommodation is home to 138 spacious self-contained rooms specialising in single or couples’ accommodation for short or long-term stays. Each room houses a full-sized fridge, storage cupboard, microwave, jug, toaster, crockery and cutlery. Each bed is a special king long double. There is a brand-new catering facility for all-included smorgasbord breakfasts, cut lunches and evening meals on site. It also has two fully-equipped open-air camp kitchens and a barbecue for self-cooked meals in a casual, friendly atmosphere. Resort-style facilities include an in-ground pool, an external gymnasium and full laundry. Two separate manager’s residences enable the onsite manager to take a break while a guest manager looks after the site.

Leichhardt Accommodation Mount Isa, QLD

A golden opportunity to secure the best of north-west Queensland with two properties in one. 1 6 3 ROOMS 3 MANAGER’S RESIDENCES 2 POOLS

Fourth Avenue Motor Inn has 25 cool and comfortable renovated rooms in both family and double configurations. Suitable for short and long-term stays, each room is fully serviced and supplied with cooking utensils, crockery and cutlery. Home to Mount Isa’s largest, private in-ground pool, this motel offers off-street parking, contactless check-in/out, state-of-the-art onsite CCTV security and a manager’s residence. There is also a laundry and attractive outdoor barbecue area. This riverside location is close to the Mount Isa CBD and within walking distance of entertainment, the cinema and shops as well as the historic Glencore Mount Isa Mines. The local club’s courtesy coach offers transfer from the front door. Mount Isa is called “City of Opportunity” and for good reason. Poised to celebrate its 100th birthday next year, this is an unrivalled and unique opportunity to own two successful properties in one.

Fourth Avenue Motor Inn Mount Isa, QLD

Leichhardt Accommodation named as east coast Australia’s best mining camp, but also rates in the top best motels in the Isa, while Fourth Avenue Motor Inn boasts the city’s largest, private in-ground pool Diverse offering for FIFO workers, government staff and tourists with strong future bookings and stable staff. Contactless check-in/out at Fourth Avenue Motor Inn A strong trading history with the 20/21 net profit of $1.7m – which represents a 14% ROI – forecast to exceed $2 million in 21/22 Significant capital investment in infrastructure including $250,000 into a soon-to-be-installed system to increase solar provision and decrease electricity costs Synergies between both properties with cross marketing and shared food and beverage supplies and an effortless experience for visiting guests and workers Nothing to do but walk in, comes with all the chattels including backup equipment, ensuring a smooth and seamless transition for the new owner

Turnover $4,145,702 Net Profit $1,700,000 Price $12,500,000

SHANE CROGHAN BROKER +61 418 451 006 shanec@resortbrokers.com.au

Appointments

New Kids On The Block Our national team has been bolstered by the addition of two new brokers who join ResortBrokers with an outstanding skill set from diverse backgrounds. Welcome to Leisa Wheatland, based in Victoria, and Glen Cummins, who covers Townsville and surrounds.

BROKER, SOUTH-EAST VICTORIA

LEISA WHEATLAND

“I am often asked for my opinion by industry and media cohorts and always make myself available for an honest representation of the industry.”

Melbourne-born Leisa has a family pedigree in the accommodation industry, hailing for a long line of successful hoteliers. Growing up surrounded by accommodation and food and beverage operations in both small motels and large-scale venues, places Leisa in pole position for her latest role as our broker for south-east Victoria. Leisa started her career as a junior reservation’s officer for Flag Inns. Leisa and her husband Larry’s family were pioneers of the Flag organisation, operating the first group of Flag Inns nationally and won the inaugural Flag Inn of the Year award during these early years. They went on to win the Develop Victoria Awards for their motel and The Chaffey International in Mildura became widely regarded as a premium regional dining venue. “My grandmother started in the hotel business in regional Victoria, so it’s in my blood,” Leisa says. resortbrokers.com.au

A career highlight for Leisa was when her family’s Whyalla motel in South Australia was selected as the Royal Caterers to Queen Elizabeth and the Duke of Edinburgh during their royal tour in 1986. Leisa and Larry have operated Comfort Hotels including in Tamworth, Armidale, Wagga Wagga and Albury before relocating to Melbourne in 2001. Leisa’s long list of hospitality credentials include Melbourne’s prestigious Lyceum Club and Accor’s Grand Mercure on Swanston and Welcome Hotel in the Melbourne CBD.

“My grandmother started in the hotel business in regional Victoria, so it’s in my blood. I am often asked for my opinion by industry and media cohorts and always make myself available for an honest representation of the industry.” This multifaceted hospitality professional was recruited to work with MAB Corporation – the developers of the Docklands precinct. It was here they converted empty apartments into the Grand Mercure Docklands Apartments and managed holiday shortstay letting for both the developers, as owners of the business, and Accor’s first franchise and apartment operation in Melbourne. With her son Ryan, Leisa bought a leasehold in The Orrong Hotel in Melbourne and in 2018 they purchased another leasehold in the Bush Inn Hotel. Her network of buyers, and skill at hunting the elusive perfect match for a business, parallel Leisa’s natural empathy and genuine desire to help people.

North Queensland Toyota Cowboys from a XXXX sponsorship perspective. “Working in sales for more than 20 years, the one constant to supplying first-class service to clients is actively listening to their needs and goals, then doing everything I can to help them achieve the best possible outcomes,” Glen says.

GLEN CUMMINS BROKER, TOWNSVILLE & SURROUNDS

Born and bred Queenslander Glen knows the state, and sales, like the back of his hand. This former Goondiwindi bloke has chalked up more than 20 years in sales working with Boral Concrete and industrial and engineering firm Blackwoods on the Gold Coast. When not cutting his teeth on selling along Queensland’s glitter strip, you’d find him playing in the local rugby league competition. Glen moved to Townsville to work with Queensland beer icon XXXX where he spent 12 years dealing with some of the state’s largest independent groups both in the retail and on-premise sectors. This included partnerships to grow their business with XXXX owner Lion year-on-year and looking after the

“A lot of the people who are in motels are very similar to publicans, just everyday people. Just as everyone likes drinking beer, as I found in my last job, people want businesses as well. Sales are sales. This broker knows the region and community well his previous sales territory went north from Townsville to Innisfail and west out to Richmond and Winton. Glen will be working closely with ResortBrokers’ experienced North Queensland agent Des Fagg in the region. “To have someone with Des’ knowledge and experience to be learning from is so invaluable and he knows the area so well,” Glen says. “It’s all about building the relationship to understand the motivation of why someone is looking to buy or sell. I’ve always run by the mantra ‘do what you say you are going to do’.” When not working, you’ll find Glen with his wife Rosie and son Ryan, 4, exploring more of North Queensland and watching rugby league (especially the Cowboys), golf, rugby union and surfing. END resortbrokers.com.au

Regional Spotlight

Far North Queensland IT’S ALL ABOUT THE DIVERSITY While the past two years have undoubtedly been a challenging period in Far North Queensland, blue skies (both figuratively and literally) are about to shine on the region.

7 Solid Reasons to Invest in Far North Queensland

In 2019-20 the tourism industry contributed an estimated $2.4 billion to the Far North QLD regional economy. and supported about 24,300 jobs

In 2021-22 the QLD Government will deliver a $1.2 billion capital works program in Far North Queensland

Planned and committed projects include $502 million in mining and $4 billion in renewable energy

It is the administrative, commercial and industrial centre of this vast north-western region and is also home to the largest rodeo in the Southern Hemisphere. Then there’s the Savannah Way - a road trip stretching 3,700kms from Cairns to Broome in Western Australia – and the trip of a lifetime. In the Queensland component of this journey, you travel though places such as Undara home to the world’s longest lava tube systems.

SHANE CROGHAN BROKER, FAR NORTH QUEENSLAND

When noted naturalist and biologist David Attenborough is asked by children to name his favourite place on earth, his answer is North Queensland. “I have no hesitation in answering that question. My favourite place is North Queensland. It has, for a naturalist, everything,” Attenborough says. “It has an amazing rainforest which is quite unlike any other rainforest in the world. Not only does it have that, but down on the coast, it has the Great Barrier Reef. “On top of that, there’s terrific wine and food, so that’s the place for me.” As the Far North Queensland resident broker for ResortBrokers, whose massive region runs from Mission Beach in the south to Cape York in the north and Mount Isa in the west, I couldn’t agree more. Without a doubt, one of the things which most attracts visitors and investors to Far North Queensland is its diversity. Measuring some 380,750 square kilometres, my region is Queensland’s largest covering 22 per cent of the state’s area. To put this in perspective, that is larger than the entire country of Germany. You have the beautiful Cassowary Coast to the south of Cairns covering the main towns of Innisfail, Tully and Cardwell. This region is dominated by the farming sector - predominantly bananas and sugar cane - and contains tourist gems such as Mission Beach and Kurrimine Beach.

Mount Surprise attracts fossickers looking for their own special gemstones and Georgetown is a town very much in the middle of “cattle country” and also home to growing gold mining and cotton growing industries. This road trip also takes in the towns of Croydon and Normanton, previously burgeoning gold mining centres and now very much focussed on the cattle industry. While North Queensland remained relatively unscathed by COVID from a health perspective, like many of the more remote areas of Australia, we struggled with the economic uncertainty. For a region which relies heavily on international tourism, as well as interstate visitors, border closures caused challenges for the market. Now, with borders reopening, we are seeing green shoots starting to emerge. One of the interesting outcomes of the pandemic was the mass migration from the southern states into Queensland, which has always been regarded as the exotic north. Southerners, fed up with lockdowns and cold weather, are looking to North Queensland as the panacea to their pandemic problems. Queenslanders themselves have long held a parochial pride in North Queensland, home to Australia’s barramundi and prawn fishing capital in Karumba, located right in the Gulf of Carpentaria at the mouth of the Norman River. North of Cairns sits the coastal town of Cooktown famous for the landing of Captain James Cook in 1770. Even further to the north as you head towards Cape York - the very top point of Australia – lays the mining town of Weipa known for its enormous natural deposits of bauxite and a key town in northern Australia for mining and cattle exports. The top part of the Cape is home to many Indigenous communities which are steeped in local history. They are magnificent coastal communities and home to some of the best fishing spots you will find in Australia.

The mining capital of north-west Queensland in Mount Isa is one of the most productive single mines in world history, based on combined production of lead, silver, copper and zinc.

With the weather starting to cool down and the market starting to heat up, investors will be looking to the nirvana which is North Queensland. And we’ll be here ready to welcome them, with that quintessential Queensland warmth, for which this region is renowned. END

More than $500 million of housing projects have been approved in Cairns since June 2020

1 in 8 people in FNQ are employed in tourism with major airports in Mount Isa and Cairns

House prices in Cairns grew by 22 percent to an average of $527,799 and by 11 per cent to $820,168 in Port Douglas in the past year

It’s where the world’s oldest rainforest meets the largest rainforest on the planet

Regular Feature

ResortBrokers Director and ARAMA Associate Director Alex Cook provides an insight into the value of an ARAMA membership and what it means for you.

Alex Cook Director

ARAMA has recently announced a range of new services available free of charge to its network of members. Covering legal, health and training matters, these services can potentially provide critical support in times of need. First up is A-LEGAL, a new and exclusive insurance product from ARAMA partners EBM Insurance. A-LEGAL provides legal cover up to $250,000 for all members free of charge, with no excess on claims made. The product is designed to provide operating members with coverage against legal claims made against them, specifically those stemming from disputes associated with caretaking service agreements. This is a unique insurance product, and one that would likely cost many times the cost of an ARAMA membership if it were to be purchased individually. Directly linked to A-LEGAL is the new A-LEGAL Lawyer’s Panel. The A-LEGAL Lawyer’s Panel provides free initial consultation for its members with a highlyregarded industry specialist lawyers in the event that a member is faced with a legal claim from a Body Corporate committee.

An initiative very much from the heart of CEO Trevor Rawsley, is A-MAP, the ARAMA Membership Assistance Programme. A-MAP provides a confidential counselling/support service to help ARAMA members deal with personal or workrelated problems in a positive way by connecting members to qualiﬁed psychologists and counsellors, 24/7, via phone, text, email, and web enquiry in their preferred language. Some of our readers will be aware that CPD (Compulsory Professional Development) Points are now applicable to Management Rights’operators in New South Wales. This is likely to follow in Queensland in the not-too-distant future (probably this year). ARAMA has teamed up with recognised real estate / property training companies to provide the training to its members free of charge. Typically costing $400 - $500, this alone nearly covers the cost of an ARAMA membership. Never has an ARAMA membership been more valuable, and never has there been a better time to join.

If you are not already an ARAMA member and would like to learn more, please make contact with them on the details below. 1300 27 26 27 | NATIONAL@ARAMA.COM.AU resortbrokers.com.au

Events

Let's Get Social!

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

BOWLS, BEERS & BURGERS

MANAGEMENT RIGHTS MADE EASY

BROADBEACH

BENOWA

The ResortBrokers’ Gold Coast team recently hosted another great knees-up, with the latest Bowls, Beers & Burgers social event at the Broadbeach Bowls Club on March 10. More than 50 Gold Coast-based Management Rights’ owners and operators gathered for a cold brew with our industry partners. The afternoon saw plenty of laughs, new and old friendships and plenty of war stories being swapped between the managers.

The accommodation industry gathered on the Gold Coast on March 12 to hear four experts unravel the mystery behind Management Rights at an event spearheaded by the ResortBrokers’ Gold Coast team. ResortBrokers’ Todd Warner, Paul Grant from Mike Phipps Finance, Tony Rossiter from Holmans Accountants, and Trent Pevy from Pevy Lawyers engaged, excited, and educated new buyers on this sector of the industry.

ARAMA ROADSHOW

THE URBAN DEVELOPER HOTEL VSUMMIT

AIRLIE BEACH

ONLINE EVENT

“Risky Business” was the theme of the Australian Resident Accommodation Managers Association (ARAMA) event at Airlie Beach on February 24. ResortBrokers’ Townsville brokers Des Fagg and Glen Cummins attended the event designed to highlight risks associated with Management and Letting Rights and provide valuable tools to identify, avoid, mitigate, manage and overcome the risks.

ResortBrokers Director Alex Cook was a guest speaker at The Urban Developer’s Hotel vSummit, an immersive one-day online event for property professionals in the Australian hotel sector. The summit looked at whether the accommondation sector was poised for meaningful recovery. Attendees learned about the development, funding, valuation and operational fundamentals in delivering hotel property assets in Australia.

The importance of good legal due diligence Words_John Mahoney, Mahoneys

Due diligence, DD and legal due diligence are terms used to describe the review of the legal aspects of a Management Rights’ transaction. New entrants to the industry often confuse the legal due diligence process with the accountant’s review of the business financials (e.g. the net operating profit), otherwise known as verification of figures. The Management Rights’ business contract defines legal due diligence as a review of the business and unit contracts, the Management Rights’ agreements, MIA requirements, the Body Corporate by-laws, and the community management statement and records. But what does that actually mean? For a lawyer, it means reading - lots and lots of reading. Personally, I am yet to fully embrace our paperless office like the rest of my colleagues. When I undertake a legal due diligence my desk is full of paper covered in highlighter, handwritten notes and coloured tags. I do all of this as part of a comprehensive review process that helps me identify, and assess, any potential legal and commercial issues before consolidating my findings into a concise due diligence report that I provide to my clients.

resortbrokers.com.au

At Mahoneys, our legal due diligence generally covers (but is not limited to): •

The caretaking and letting agreements along with any assignments and variations to those agreements. More often than not there will be two to three documents that form the agreement but this can be upwards of 10 documents. Importantly, these documents need to be read together to determine the rights and obligations of the manager and Body Corporate. We look at a range of matters including: o

the length of the term of the agreements and when any options are due to be exercised

the remuneration being paid to the manager including when and how that remuneration is increased

the duties of the manager including any concerns with those duties

whether the manager or the Body Corporate is required to provide materials and equipment

if the manager is required to reside onsite and any office hours requirements and

if the manager is given any rights to use common property for storage, office / reception areas or car parking.

•

The community management statement and by-laws for the complex. We will look at the module that applies to the complex (because this determines the maximum term of the agreements (25 versus 10 years), the permitted use of the lots and any exclusive use of common property

•

A Body Corporate search. This search covers the written records of the Body Corporate including financial records, minutes of meetings, and copies of relevant correspondence, sinking fund forecasts and safety reports. This also covers the minutes relating to the Management Rights’ agreements (to make sure they comply with the legislation) and any problems at the complex

•

Searches that relate to the assets being purchased. This will include a title search and copies of the plans that relate to the lot or unit being purchased, and PPSR searches of any assets (e.g. copiers, tools, machinery etc) that are being purchased. We will also undertake searches on the intellectual property that relate to the business (e.g. business names, domains and trademarks)

•

y •

0Brisbane7Q3l0d4703 7 •

if the agreements have not been passed properly by the Body Corporate in accordance with the strict requirements of the legislation then the agreements may be invalid and the manager may be unable to rely upon the agreements in their dealings with the Body Corporate and any future sale; and

0730 73 7 w w.mahoneys.com.au075 62 95

Any MIA issues that relate to the business. MIA refers to the managed investment scheme provisions of the Corporations Act administered by the Australian Securities and Investment Commission (ASIC). This is because ASIC considers a typical Queensland Management Rights to be a serviced strata scheme and therefore a managed investments scheme under the Corporations Act. If the complex is a serviced strata scheme, then there are a number of requirements relating to the conduct of the business and the letting pool under the MIA e r s The purchase contracts. This to ensure that all the details are correct (party names, price, any conditions, key dates etc) and that the buyer is getting everything they need to operate the business

The value of the legal due diligence process cannot be understated. This might sound extreme but what needs to be understood is that the value of a Management Rights’ business relies on the existence of a valid Management Rights’ agreement. If a Management Rights’ agreement is invalid, or the term of it has come to an end, there is no Management Rights’ business – all that is left, at best, is a rent roll (which has a significantly reduced multiplier) and a lot. Some examples of issues that can be identified during the legal due diligence include: •

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if the option to extend the term has not been exercised correctly then the agreements can come to an end before the total term of the agreements;

• if o the Body Corporate has taken stepss to C a t terminate thea agreements then the agreementse Pa r d e d 42 30 may come to an end; 0 2 2 9 59

•

if a purchaser is unable or unwilling to comply with the duties set out in the agreement (e.g. the requirement to reside on site), then following settlement the purchaser will immediately be in breach of the agreements which puts the buyer at risk of having the agreements terminated by the Body Corporate.

For a buyer it is extremely important to read the report prepared by their lawyer as well as the duties contained in the agreements before making a decision on whether or not to proceed with the purchase of a Management Rights’ business.

It is also important to choose an experienced lawyer with a detailed understanding of Body Corporates, the Management Rights’ industry and the supporting legislation to avoid issues that might get missed during a poorly-conducted legal due diligence process. END

The Management Rights Lawyers

w w.mahoneys.com.au

Brisbane L 18, 167 Eagle Street Brisbane Qld 4000 07 3007 3777

Gold Coast L 2, 235 Varsity Parade Varsity Lakes Qld 4230 07 5562 2959

www.mahoneys.com.au

How do you grow at nine times the pace of the market?

Is 90% Occupancy Enough? From 2010-2020, former Rydges, QT and Thredbo sales managers Michael Harper and Andreas Palmqvist scaled multiple accommodation businesses from Ground Zero to 90% occupancy and helped them grow at up to nine times the pace of the market. With 45 years of hotel performance management experience, Michael and Andreas expose the outdated beliefs around occupancy rates and Online Travel Agencies (OTAs) and reveal the secret to growing an accommodation business without cutting rates.

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Well, what we didn’t do is just cut rates. Anyone can drop rates to boost bookings. But accommodation isn’t just an occupancy game. If the rate mix isn’t optimised, the profit margins will struggle. Along with that, high occupancy at low rates often means more pressure to fill rooms and barely any profit to grow the business or shield against slumps. That's a dangerous place to be. One of the first steps is to look at your booking leakage. There are so many ways accommodation can lose money and nine times out of ten our clients come to us with not just one, but several leaks that are draining money and making it almost impossible to grow. Booking leakage could be pricing related of course, but there are other less obvious nuances that can be addressed to help tighten your booking machine. Search leakage, trust leakage, distribution leakage and graphics’ leakage are just a few of the areas we look at to help turn off the tap. It’s our job as consultants at Hotel Strategy Co. to audit and identify the major leaks and create a strategy to fix them fast.

What is the biggest mistake you see accomodation owners making today? Resting on their laurels. When most accommodation owners see 70, 80 or even 90 per cent occupancy, they assume they’re doing well. They’re not. At least, not for long. Once you get a consistently high occupancy, which can be a challenge in itself, that’s the time to press the accelerator even harder. There is always more you can do to grow and increase performance. Occupancy is barely even half the game. The first thing you need to do is remove this outdated mindset that “you get what you get and you don't get upset.” We’re not sure that is a winning attitude and displays a level of complacency we often see in the industry. It comes from a sense that there is only so much in your control, and a feeling of being at the whim of market demand.

This is a high-growth industry and it’s bouncing back hard. Accommodation owners need to stop sitting on their hands and being thankful for having a business. They must start learning how to outpace the market and take market share from their competitors. Since engaging Hotel Strategy Co in January 2021, one of our recent clients achieved 53 per cent year-onyear revenue growth in a market that grew by just 16 per cent and a comp set at 25 per cent. This was only possible because they had the right attitude before engaging with us. They knew they couldn’t sit still.

What’s your stance on OTAs? Many owners believe OTAs are the enemy because they take hefty commissions. In my experience, this is short sighted. OTAs provide unrivalled exposure. We call it the billboard effect. A study by Cornell University School of Hotel Administration, showed that being listed on third party websites helps to not only increase booking volume with the OTAs, but also delivers a significant uptick in bookings on your own website. This is because you have greater omnipresence, which builds familiarity and trust. Plus, you're more likely to be found in the first place. So as potential guests continue their research, they go through the process of checking pricing on your hotel’s direct website, resulting in more direct bookings as well as the uplift from the OTAs themselves. Of course, we love direct bookings, but you must have a good balance between the two sources, to ensure optimum exposure and results. Having a good

distribution mix is important because you increase exposure and no longer rely solely on OTAs. With more direct bookings as part of that mix, you regain control of the guest booking experience, build a stronger brand, increase profit margins and often see an increase in your returning customer base.

You make growing an accommodation business sound easy. What aren’t you telling us? The reality is most owners aren’t able to step back and audit objectively. They often assume they have one problem, when it’s something else. Or they don’t even see the problem at all. Even when they identify real problems, they often don’t know where to begin or are unable to execute solutions properly. It’s never just one thing, it is always lots of little things that need to be addressed and continually monitored in such a dynamic industry. What got them where they are today won’t get them past the problems that are now holding them back. In most cases, a fresh pair of eyes and guidance from people who’ve already solved these problems, time and again, is the fastest route to success. END

A CLEAR PATH TO OCCUPANCY & REVENUE GROWTH IN 180 DAYS, GUARANTEED Here’s how we do it 1. FIND

2. FIX

3. GROW

We’ll calculate how much money is being left on the table and using our proven Hotel Growth System, we’ll build you a customised endto-end growth strategy.

We’ll then execute that growth strategy, to find you the biggest early wins and then progressively fine tune your entire sales and marketing ecosystem.

Here we focus on building a high-performance culture. Creating tools that put your finger on the pulse. Helping you manage rates and inventory, monitor the market, fix booking leakage or increase direct bookings.

ACCOMODATION GROWTH SPECIALISTS TO HELP YOU MAXIMISE OCCUPANCY AND REVENUE 45 Years’ experience in accommodation marketing, online distribution, sales strategy and revenue management. Australian based. Satisfaction guaranteed.

Get a free 30-minute strategy session valued at $897. In just 30 minutes, we’ll show you how much money you’re leaving on the table, define your goals, share specific strategies to achieve up to 9x faster-than-market-growth and maximise your profit margins starting today.

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

Accommodation & Tourism Businesses in the Great Barrier Reef Marine Park Words_David Adolphe, McBride Legal

Buying accommodation and tourism businesses always requires a high degree of due diligence. It is important for buyers to undertake the necessary searches and other enquiries to be satisfied that they are buying what they expect in terms of the financial performance of the business and the legal rights and obligations of the operator. An important aspect of due diligence enquiries can involve the location of the business and any regulatory issues which may affect its operation in that location. This is particularly the case in the environmentally-sensitive area of the Great Barrier Reef Marine Park which may be the most heavily regulated area for accommodation and tourism businesses in Australia. The primary source of regulation on the Great Barrier Reef is the Great Barrier Reef Marine Park Act 1975 (Cth). This Act established the Great Barrier Reef Marine Park (“the Marine Park”) being the physical location of the area subject to regulation and the Great Barrier Reef Marine Park Authority (“The Authority”) which is responsible for the management and regulation of the Marine Park. As the Marine Park is in Queensland, the relevant state regulation is provided under the Marine Parks Act 2004 (Qld). There is also a complex framework of international conventions as well as other commonwealth and Queensland legislation and regulation which oversees all manner of activity in the Marine Park. For the purposes of this article, I will only consider the regulations which affect accommodation and tourism businesses. For accommodation and tourism businesses, operators may need to consider the regulations and need for permits, licences, or approvals for things like: 1. Tourist operations 2. Installing, operating, or repairing structures such as jetties, marinas, and pontoons 3. Waste discharge

Existing permit holders can then apply to continue the operation for periods of 6-15 years depending on the activities subject to the permit. Permits which deal with structures and facilities may also require deeds of agreement. The authorities may place obligations on the operator with respect to indemnifying the authority, maintaining insurance, attending to any damage and removal of structures at the end of any permit period. Permits for tourist operations and facilities may be transferred provided they are not suspended, revoked, or expired. Any transfers of permits must be approved by the authority. Permit Transfer Applications must be lodged with the authority at least 20 business days before the proposed date of transfer which will usually be the date of completion of any sale and purchase of the business. The permit cannot expire prior to the proposed date of transfer. Parties to a tourism or accommodation business sale requiring a transfer of a permit should be mindful of the 20-business day minimum approval period when preparing contracts. The contract should include special conditions making the contract conditional on the approval for the transfer by a certain date considering the approval period. The contract should also contain obligations on the parties to attend to the necessary steps to facilitate the transfer. Sellers should also prepare their business for sale when listing where a transfer of a permit will be required by locating the permit, checking the permit is valid, and that the seller has complied with all the conditions of the permit. Buyers should obtain a copy of the permit during the due diligence period to check its validity, the conditions and the seller’s compliance with the condition. If a buyer’s due diligence investigations reveal the requirement for works or anything else to satisfy the conditions of a permit, this may affect the prospect of the sale proceeding past due diligence and potentially the value of the business.

Sellers should carefully consider these issues and seek advice when preparing for the sale of their businesses.

Permits are usually granted in two parts under both the commonwealth and Queensland regulations. New permits are normally granted for a one-year period to establish the operation and are then reviewed by the authorities. resortbrokers.com.au

The Weird & the Wonderful Words_Mike Phipps

Unless you are of my vintage (and what a good year it was) you’ve likely never heard of Harry Day. He was from another time and to use a well-worn cliché, I doubt that we will see his like again. Harry was born in Borneo in 1898 and spent his early youth there. He was educated in England and served in both World Wars, first as a marine and later as a pilot. He was shot down during World War Two, suffering burns to his face and hands but parachuted relatively safely into the hands of the Germans. I should mention that Harry was more than 40 years old at the time and was only in active service through his own insistence. In 1944, Day and 75 other prisoners organised what came to be known as The Great Escape. Sadly, they were betrayed and re-captured the next day. Most of the escapees were executed but Harry was spared, apparently due to his status on both sides of the conflict. He finally escaped in the closing days of the war after stealing a Volkswagen, no mean feat if you’ve ever owned a VW of that era. For his service Day was awarded, among many accolades, an OBE and the United States Legion of Merit for his service to fellow POWs. How do I know all this? Well, to be honest, until I started writing this I knew bugger all about Harry Day. However, unbeknown to me I’d been quoting him for years, for it was Harry who once remarked “rules are for the obeyance of fools, and the guidance of wise men”. While the quote is now a bit dated and should perhaps refer to men, women and the undecided, there is a lot that Harry Day can teach us. We certainly live in a rule-driven society where there seems scant regard for the capacity of citizens to act with a degree of wisdom. The fiasco that is our “management” of the COVID crisis is but the latest in a litany of rules, mandates and legislation that simply don’t work. I suspect the same mob that told us the banking system was fundamentally corrupt (it isn’t) are now telling us that COVID will kill us all (it won’t). What we seem to do in the way we apply our rules is to remove from our processes any nuance or capacity for flexible critical decision making. The result is a society driven by a rule book so large and complicated that at best it’s an expensive and time-consuming nightmare to follow and at worst... well, look no further than Novak Djokovic. Of course, once our “leaders” realise that the rules are impossible to follow they do something really interesting. They add more rules, without first getting rid of the ones that resortbrokers.com.au

don’t work. Kerry Packer once famously challenged a Senate inquiry to repeal legislation at the same pace that new laws were introduced. The YouTube clip is magnificent and well worth a look. Watch out for the bemused faces of Packer’s inquisitors, nothing’s changed. In any event, this ramble needs to look like it’s going somewhere and indeed it is. I started by deciding to write about two very different sorts of finance. That’s when the rules’ riff struck me. Let’s start with the easy and more relevant one:

Strata / Owners Corporation Finance As the name suggests, this is debt funding to assist Bodies Corporate with expenses that might usually be covered via accumulated levies. The facility seems particularly appealing in instances where the sinking fund balance may be less than adequate, and the owners are not keen on paying a big ugly special levy. Terms of up to 10 years are generally available for residential schemes and up to 5 years for commercial. Funds can be taken in a lump sum or progressively drawn and can be used for multiple purposes. Levies are adjusted to take into account the loan repayments which essentially spreads the pain over the term of the loan. The arrangements require approval at general meeting and importantly, the facility is unsecured. That’s reflected in interest rates that are a bit higher than fully secured business finance. Owners have no obligation to provide any personal or financial information and no personal guarantees or mortgages are required. Interest-only options are available for up to 12 months albeit I suspect there would be little point in taking up such an option unless the improvements being funded were likely to materially increase income to the owners. If you are an owner who wants to know more, feel free to give us a call. We work with strata managers to ensure the application is presented professionally. With a range of lenders providing strata finance, our finance tender process ensures the best possible result.

Reverse Mortgages Yes, a bit out of left field but an increasing topic of conversation. I guess we are all getting older albeit I intend to fight it every inch of the way. To say that what should be a pretty simple debt product is a minefield of rules and compliance would be an understatement. Put simply, a Reverse Mortgage is a way

for an older person to access money against equity in their home without having to prove an ability to service the debt. Nice for some you might say, but there are some rules (surprise) and it’s not all beer and skittles. Firstly, you’ve got to be over 60…OK, so far I’m in. You can use the funds for any worthwhile purpose including taking a lump sum to go on a holiday or regular drawdowns to supplement existing income from investments or the pension. There are no repayments as such, and interest accrues on a compounding basis. The older you are the more you can borrow as a percentage of your home’s value. As the loan and interest are repaid from the sale proceeds of the house, you can see that the closer you are to falling off the twig the lower risk to the lender, hence the higher LVR.

Importantly, once you’ve drawn down on your limit and interest starts compounding you are essentially eroding the value of your property. That might be OK if property prices keep going up but there’s no guarantee of that. It is of some comfort that the law prohibits lenders from chasing so-called negative equity if the debt ends up exceeding the property value when the house is sold. The more concerning downside is the very real possibility that a borrower could live for a long time past 60 (that’s my plan) and end up with little cash from the eventual sale of the home to fund full-time care or other later life arrangements. I think these are matters that anyone considering a Reverse Mortgage loan need to contemplate. Of course, if the kids are sweating on the proceeds of the estate, then gear to the heavens and have as much fun as you can. There are of course rules around the kids coercing mum and dad to access equity to fund an early inheritance. That’s one rule of which I’m very much in favour.

But seriously, there’s a lot to think about with this sort of finance and the impacts and outcomes may well be almost impossible to predict. Having said that if you Google ASIC Reverse Mortgage Calculator it’s worth a look. The managing director just caught me on the site and has suggested reason for finance – new Ferrari is unlikely to get a run. I have argued that if you can’t erode your property value to acquire a beautiful car what’s the point in living……. apparently I’m about to find out. Interestingly, ASIC published a review of reverse mortgages in 2018 and with no hint of irony suggested that the rules, process and product were hard for older people to follow. They blamed, yes, you guessed it, lenders and brokers. It’s also worth noting the existence of the Federal Government’s Home Equity Access Scheme, formerly known as the Pension Loans Scheme. It’s a product designed to provide additional fortnightly income and can’t be used for a lump sum draw down. It works pretty much the same as a Reverse Mortgage albeit with some tweaks to give some scope to accessing the payment without impacting your pension. Details are available on the MyGov site, good luck with that. In closing, I can’t help wondering what Harry Day would make of the Novak incident? I suspect his reaction would not be fit for publication. I’ll leave you with this from one of my favourite poets, Dylan Thomas 1914-1953. Apparently he drank himself to death after taking out a Reverse Mortgage and hitting the town.

Do not go gentle into that good night, Old age should burn and rave at close of day; Rage, rage against the dying of the light. Do not go gentle into that good night.

Importance of Tax Depreciation in a Going Concern Sale

Despite the lingering presence of COVID-19, the market for Going Concern accommodation assets remains strong, albeit region-specific. New property owners need to consider the importance of conducting a tax depreciation. A Going Concern sale relates to the sale of a business including everything that is necessary for the continued operation of that business. This typically includes assets / plant and equipment as well as the fit-out of a property and goodwill. Herein lies a very lucrative opportunity to improve cash flow in the initial stages of new operation / ownership through tax depreciation. The ATO allows for a tax deduction on the decreasing value of plant, equipment and improvements to a property. When purchasing a Going Concern asset, the purchaser also buys the right to potential tax depreciation entitlements on the new or second-hand assets and improvements. When the contract of sale is drawn up, it is good practice to understand what comes with the purchase of the business and a detailed inventory list will ensure clear evidence to substantiate a claim for tax depreciation. This will also make the depreciation process a lot easier, smoother and cheaper. Of course, if an inventory list is not available, there is still the same opportunity to claim depreciation and a specialist quantity surveyor will be able to assist. Once the assets / improvements are known, your depreciation specialist will inspect the site, including all items which came with the business, to enable them to value these assets for depreciation purposes. resortbrokers.com.au

Considering current instant asset write off, and temporary full expensing measures, this could result in significant, (tens of thousands), if not hundreds of thousands, in tax deductions in just the first financial year of ownership alone. This goes a long way to partially offsetting your outlay and acquisition costs in purchasing the business. For example: a motel business (Leasehold Asset) with 24 guest rooms in regional NSW was purchased for $250,000 GST free (short term on lease remaining). A thorough Tax Depreciation inspection enabled them to claim $94,563 tax deductions in the first year of ownership through depreciating the assets which were purchased with the business. At current company tax rates of 25 per cent (businesses with an aggregated turnover of less than $50M). this resulted in $23,640 back in the pocket of the new owners rather than being paid in tax. Going Concern purchases present a real and almost immediate tangible opportunity for significant tax savings. After a large outlay on the business this can also increase your cash flow in the early days of running it. Tax depreciation is something that cannot be overlooked when considering the purchase of a business, doing so may cost you thousands. At Acumentis we have a team of specialists conducting valuations and tax depreciation inspections from across 45 office locations in Australia. END

Damien Burley NATIONAL DIRECTOR REGIONAL OPERATIONS

m: 0412 217 336 e: Damien.Burley@acumentis.com.au

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

Are you looking to sell your Management Rights’ complex?

Over the past few years, the ripple effect of COVID-19 has been a key driver of property market madness, highlighting the importance of an effective financial verification process – particularly in anticipation of the tourism industry reopening. Purchasers rely on these processes to protect their rights, and have only become more wary of the issues this process might uncover in recent years.

Sold in six steps: how to prepare effectively for a successful outcome When you’re preparing to sell, the following steps will be crucial to keeping buyers happy and avoiding contract terminations:

1. Have a Profit & Loss for Sale Purposes prepared by

a recognised industry specialist accountant. This will ensure that the figures – particularly the net profit – are accurate and correctly formatted for contract and verification purposes. In most cases, a purchaser will engage a specialist Management Rights’ accountant to undertake the financial verification. Having a P&L statement prepared by a specialist Management Rights’ accountant will simplify communications between the two parties, speed up the verification process and create transparency for the purchaser.

2. Have all the necessary information ready for the

purchaser’s accountant prior to the financial verification. The accountant should send you a list of the information required for review prior to their visit. If you do not receive this, request it. Again, this is integral to a smooth verification process.

3. Make sure your sale figures are GST-free. This

may sound simple, but after more than 10 years, we still see sales figures with GST-inclusive amounts. To avoid this, have the figures prepared by your specialist Management Rights’ accountant.

4. Make sure your general ledger (XERO/MYOB/

Quickbooks) is up to date and reconciled before meeting with the purchaser’s accountant.

5. Review your letting appointments. When

conducting a financial verification, we will review each individual letting agreement you have. The agreements must be current with correct charges and all relevant sections signed, including the assignment clauses. It’s important to review all your agreements prior to meeting with the purchaser’s accountant and rectify any issues as quickly as possible.

6. Discuss your sale with your accountant prior to

listing the property. This is important because you need to understand the tax implications of selling your complex. There are several concessions that can be applied to small business sales to reduce your tax payable, however, careful planning is important to ensure adherence to strict guidelines. For the best outcome, seek advice from your accountant on the tax implications of your impending sale.

Even minor discrepancies that would typically be overlooked – those valued at $1000 or less, for instance – are coming under heavy scrutiny, and in many cases leading to the termination of contracts. Regardless of the value, these discrepancies can raise a critical question for purchasers: if the vendors have ‘lied’ about the financials, what other information might be missing or misleading? Given the challenges of navigating this sceptical approach to buying and selling, it has never been more important to make thorough preparations before listing your complex for sale. From a financial perspective, each of these key elements is essential to preparing your complex for sale. Working with a financial expert, who has a deep understanding of your business, is key to developing effective, tailored solutions. END

For advice, contact McAdam Siemons Business Advisors Management Rights expert Sam Hodgetts on samh@mcsba.com.au

Your tourism business should be going places With decades of experience in the accommodation industry and management rights, we’ve helped hundreds of permanent and short-term complex owners purchase, manage and sell their businesses.

How we can help

Purchasing a business

Business management

Selling your accomodation business

We offer tailored guidance on all aspects of your accomodation business purchase, including structures, tax advice, borrowing and contracts.

Once you’ve purchased your business, we give you constant access to accurate figures and expert management advice.

When it’s time to sell your accomodation business, we can manage the process of Profit and Loss reporting.

Specialist accountants & business advisors to the accommodation industry Upper Mt Gravatt

Noosa Heads

Forest Glen

07 3421 3421 2042 Logan Rd. Upper Mt Gravatt QLD 4122

07 5474 8955 S 12 Noosa Central 4-12 Bottlebrush Av. Noosa Heads QLD 4567

07 5443 5833 354 Mons Rd. Forest Glen QLD 4556

www.mcadamsiemon.com.au

What’s Cool

What’s Cool In The Accommodation Industry From perky pop-ups to hotels masquerading as art galleries and uber cool cabanas in which to laze by the pool, Director of New Developments and Hotels Tim Crooks looks at the latest trends in the industry.

Tim Crooks m: 0417 544 562 e: tim@resortbrokers.com.au

Smart Art You could be forgiven for thinking you’re in an art gallery in these heavenly hotels. Named after the artist whose work adorns the walls, Brisbane’s Crystalbrook Vincent is like a contemporary art gallery with the works of Australian portrait artist Vincent Fantauzzo peppered around the place. In Tasmania, the edgy Mona Pavilions are named after influential Australian artists or architects and feature work from the Mona collection. Adelaide’s Majestic Minima Hotel commissions local South Australian artists to paint a room at this eclectic property. www.crystalbrookcollection.com

Pop-Ups Aussies are pretty familiar with pop-up bars and restaurants but the concept of a temporary hotel is somewhat new. If anyone could do it well, it’s the people behind Veuve Clicquot with their Hotel Clicquot which recently appeared in the Byron Bay Hinterland. (Watch this space for a future exciting destination for this brand). Similarly, the Gold Coast was the obvious choice for Australia’s first pop-up beach club which graced the sands of Kurrawa Beach this summer. Sydney recently took the plunge with a curious pop-up restaurant – Karen’s Diner – whose modus operandi was to encourage customers to complain. www.veuveclicquot.com

Pool Cabanas Once the sole domain of swanky resorts, or LA A-listers, the hotel game changed when the Gold Coast’s Palazzo Versace arguably introduced cabanas to Australian shores. And this is not just any old pool. Touted as the Water Salon, Palazzo Versace’s recently refurbished cabanas are the central focus of this poolside oasis with 63-metre pool. Brisbane’s Emporium Hotel South Bank has made the cabana concept permanent, with its Poolside Cabana Suites steps from the hotel’s 23-metre infinity edge rooftop pool. At The Ville, in Townsville, even non-hotel guests can hire out a private poolside cabana from $250 for four hours. www.palazzoversace.com.au

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Sold Properties

Our Deals Settle SOLD CARAVAN PARK LEASEHOLD CHINCHILLA, QLD

SOLD CARAVAN PARK FREEHOLD KATHERINE, NT

SOLD MOTEL FREEHOLD KINGSCLIFF, NSW

SOLD MOTEL LEASEHOLD BALLINA, NSW

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SOLD CARAVAN PARK FREEHOLD BOWEN, QLD

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SOLD

MOTEL FREEHOLD ARMATREE, NSW

MOTEL FREEHOLD EMERALD, QLD

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MOTEL FREEHOLD TOWNSVILLE CITY, QLD

SOLD MOTEL LEASEHOLD ROMA, QLD

SOLD MANAGEMENT RIGHTS BURLEIGH HEADS, QLD

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MOTEL FREEHOLD WAGGA WAGGA, NSW

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SOLD CARAVAN PARK FREEHOLD GREENWELL POINT, NSW

SOLD MOTEL FREEHOLD GOONDIWINDI, QLD

SOLD MOTEL FREEHOLD ROMA, NSW

SOLD MANAGEMENT RIGHTS BOWEN HILLS, QLD

SOLD MANAGEMENT RIGHTS CALOUNDRA, QLD

SOLD MANAGEMENT RIGHTS KINGS BEACH, QLD

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SOLD MANAGEMENT RIGHTS YEPPOON, QLD

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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

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

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

resortbrokers.com.au

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

CAITLIN O’HALPIN

Director of Marketing and Strategy, Nationwide

Operations Manager Nationwide

EA to Trudy Crooks

EA to Tim Crooks & Alex Cook

0467 600 611 carla@resortbrokers.com.au

0437 198 164 marissa@resortbrokers.com.au

07 3878 3999 nichola@resortbrokers.com.au

07 3878 3999 caitlin@resortbrokers.com.au

JESSIE SHI

JEFF KEAST

FRANK MATUS

NATHAN EADES

Broker Brisbane

0422 935 428 jessie@resortbrokers.com.au

0414 669 007 jeff@resortbrokers.com.au

0435 742 698 frank@resortbrokers.com.au

0448 339 920 nathan@resortbrokers.com.au

resortbrokers.com.au

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

GLEN CUMMINS

Broker Gold Coast North

Broker Gold Coast South & Northern NSW

Broker Townsville and Surrounds

Broker North QLD

0439 255 507 paul@resortbrokers.com.au

0438 170 763 todd@resortbrokers.com.au

0427 849 119 des@resortbrokers.com.au

0427 215 863 glen@resortbrokers.com.au

SHANE CROGHAN

GRANT SULZBERGER

NATHAN BENJAMIN

RUSSELL ROGERS

Broker Far North QLD

Broker Central QLD

Broker NSW South Coast

0418 451 006 shanec@resortbrokers.com.au

0455 053 832 grant@resortbrokers.com.au

0459 955 649 nathanb@resortbrokers.com.au

0416 166 909 russell@resortbrokers.com.au

JASON VOGLER

CHRIS KELLY

KELLI CROUCH

JACQUELINE FEATHERBY

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

Broker NSW Central West

Broker South Australia & Northern Territory

Broker NSW Central Coast, Hunter & Blue Mountains

0427 431 213 jasonv@resortbrokers.com.au

0431 055 221 chris@resortbrokers.com.au

0410 441 750 kelli@resortbrokers.com.au

0424 497 056 jacqueline@resortbrokers.com.au resortbrokers.com.au

DAVID JEFFERIES

LEISA WHEATLAND

Broker South West Victoria

Broker South East Victoria

0447 102 970 david@resortbrokers.com.au

0499 550 599 leisa@resortbrokers.com.au

BLAIR MACDONALD

JOSH MANGLESON

Broker Western Australia

Data Analyst

0433 149 144 blair@resortbrokers.com.au

07 3878 3999 josh@resortbrokers.com.au

KIRSTEN JOHNSON

DZUNG LE

Head of Administration, Nationwide

Listing Assistant

07 3878 3999 kirsten@resortbrokers.com.au

07 3878 3999 dzung@resortbrokers.com.au

CHRISTINE RETSCHLAG

ELLEN O’NEILL

Content and Communications, Nationwide

Graphic Designer

07 3878 3999 christine@resortbrokers.com.au

07 3878 3999 ellen@resortbrokers.com.au

Queensland PO Box 5004 West End, QLD 4102 (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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