March 2017 Informer

March 2017

ISSUE NO 85

A U S T R A L I A’ S N U M B E R 1 | T O U R I S M & B U S I N E S S

INFORMER POWERFUL CONNECTIONS

AUTHENTIC, SOCIAL & ON-DEMAND

HE’S LOVING HIS QUEST

How to achieve better outcomes for your industry

Accommodating the needs of a new generation

Meet Zed Sanjana, a man of surprising talents

The

UNITY

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WHAT’S INSIDE...

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WE SAY, THEY SAY

A regular forum for the exchange of views, news & ideas

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ZED SANJANA: LOVING HIS QUEST Golf, music and why taking on Quest Apartment Hotels was such an easy decision

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MILLENNIALS WANT IT

POWERFUL CONNECTIONS How sharing the load can empower you and your industry

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A new breed of hotels is catering to a new breed of guest who wants it authentic, social & on demand

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MAKING YOUR MOTEL A WINNER

COMMUNITY SPIRIT Why giving can often be a whole lot better than receiving

MARKET RENT REVIEWS

Discover how an outback motel made Australia’s Top 10 list in its first year

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IMAGE IS EVERYTHING

From new contributor Stephen Lane

The importance of professional photography when listing lettings online

Regular Features

"Sit back, relax and enjoy October's edition of the Resort Brokers Informer"

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ON THE MARKET

FROM OUR ASIA DESK

SOLD PROPERTIES

Trudy Crooks gives you the lowdown in her new column discussing market

Meet Jane Fang who joins us in a vital Chinese liaison role

See some of the properties Resort Brokers Australia has sold recently

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AGENT PROFILE

RELIEF MANAGERS

MEET OUR TEAM

Get to know one of our Victorian brokers Michelle Matthews

Going on holiday? Need a manager? Visit our directory

Our company directory

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Preface

WELCOME TO ‘WE SAY, THEY SAY’ – A REGULAR FORUM FOR THE EXCHANGE OF VIEWS, NEWS & IDEAS.

WE SAY

STRENGTH in numbers

Ian Crooks MANAGING DIRECTOR

W

ow. Can’t the world change in the short time between Informer issues?

Now, don’t worry. I’m not even going to mention the ‘T’ word. I’m sure we hear quite enough these days about the goings on in the White House.

The only thing I will say is that at least the US economy and, it follows, many of the leading economies around the world, do seem to have reacted positively. Both the US stock market and consumer confidence surged post-election. Let’s just hope the new President’s stimulus spending plans get through and the momentum continues.

You know you can always count on me for an optimistic view. So let's talk a bit about our own Australian economy.

As I was sitting down to write the preface for this edition, a good deal of positive economic news was filtering through. The return of booming commodity prices had sent company profits soaring in the December quarter 2016, ending a three-year period of weak or diminishing profits.

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Services, including tourism and education, were also solid.

Deloitte Access Economics partner Chris Richardson, who always seems to me to present a measured and credible view, said the profits would flow through to national income, and the budget bottom line, which will be music to our Treasurer’s ears.

A strong GDP increase of 1.1% showed a big turnaround. If profits remain strong, we should now expect the positive conditions to filter through to the whole economy, in particular to wages and household income growth.

Speaking of wages, operators will

have been delighted with the Fair Work Commission decision to reduce Sunday and public holiday penalty rates for accommodation industry workers. It has been a long time coming.

Of course I understand workers fears about the impact on their hip pocket. But, in truth, the decision recognises the 24/7 nature of this industry, and I’m confident more not less work will be generated as a result.

It will be wonderful to see motel beds being made up on a Sunday, cafes and restaurants open on holidays, things that operators very often haven’t been able to afford to do

THEY SAY “We have worked closely with like-minded organisations to launch a high profile media campaign to highlight the detrimental impact of unregulated short-term accommodation and its potential to damage residential communities, housing affordability and the tourism economy.

While it has taken some time, we are confident that governments at State and Federal levels are beginning to take note and accept that a more appropriate regulatory framework is required to curb clearly commercial operators.

TOURISM AUSTRALIA

50 is turning

now followed by

We will continue the pressure.

MARTIN FERGUSON, CHAIR, TAA TOURISM ACCOMMODATION AUSTRALIA Industry Update February 2017

7.3 MILLION on Facebook

under the previous penalty rates regime.

Now we just have to see how it will all play out politically. But that’s another story. For now, I really want to congratulate Accommodation Association chief Richard Munro for the huge role he and the AAoA played in getting the commission to understand our industry’s position.

And that brings me neatly to this issue’s cover story, which explores the real and valuable benefits of getting behind your industry associations like the AAoA and ARAMA. They can’t achieve big wins like this favourable penalty rates ruling without your support and participation. We all have to do our bit.

As always, I reckon this issue of Informer is a real page-turner. We take a look inside new hotels made for Millennials. They represent a massive emerging market that can’t be ignored, already accounting for over one third of the world’s hotel guests. Every operator needs to address predictions that Millennials will make up more than 50% of the market by 2020.

If any of you is considering developing a new motel or even undertaking a major refurbishment, I’d urge you to take a look at a motel recently delivered by my good mate Grant Batty. Voted one of the best in Australia in its first year, we feature this terrific new country property on page 50.

Also inside, you’ll meet the charming CEO of Quest Apartment Hotels, Zed Sanjana, and discover he has some surprising talents. And we introduce you to lots of new faces here at Resort Brokers. If the adage ‘strength in numbers’ holds true, then our agency is definitely going from strength to strength. We’ve added five new team members in recent months to meet demand. And there will be more to come, given current market conditions.

Don’t miss Trudy Crooks’ new column, ‘On the Market’, for some topical market commentary. As she outlines, business is travelling very strongly at the moment, with the current financial year shaping up to be one of the best years ever for Resort Brokers Australia. GOOD READING.

& 2.3 MILLION on Instagram

124,270

ROOMS IN LAS VEGAS

LETTER TO THE EDITOR WE’D LOVE TO HEAR FROM YOU: CARLACOOK@ RESORTBROKERS.COM.AU

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CONTINUING OUR SERIES PROFILING THE MANY FACES OF AUSTRALIAN TOURISM AND ACCOMMODATION SECTORS, WE INTRODUCE YOU TO THE LEADERS AND INNOVATORS, CHARACTERS AND CANNY OPERATORS OF OUR INDUSTRY. THESE ARE THEIR STORIES.

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Editorial

F ZED SANJANA: HE’S LOVING HIS QUEST As you’re reading this, Zed Sanjana might well be standing at the edge of Amen Corner on the famed Augusta National golf course, watching in hushed anticipation as Jason Day tackles the 12th in the US Masters. It is the first time in almost six years since joining Quest Apartment Hotels that the amiable young CEO has allowed himself a break of longer than seven days.

or the Melbourne-born son of an immigrant Indian doctor, this golf pilgrimage fulfills a long-held wish and is a fitting 40th birthday celebration.

He’s allowed himself a three-week break with his young family, hardly an extravagant indulgence.

But in talking to Sanjana, it is clear he genuinely loves his job with Quest and will probably be very eager to resume his ‘quest’ to drive the strategic growth of Australasia’s largest and fastest growing apartment hotel operator.

Sanjana entered the accommodation industry quite deliberately, but he might just as easily have followed a different path. He jokes that the choice in his youth to study law rather than medicine makes him a “terrible disappointment” to his family.

But his schoolboy exploits on the cricket pitch might give them cause for some pride. “I once got former Australian test cricketer Dean Jones out,” he reveals. The unlikely boast turns out to be true. Jones, noted for his aggressive batting, especially against fast bowlers, was part of a Crusaders team of first class players that toured schools to help develop young talent.

“When they played us (Penleigh and Essendon Grammar School), they batted first. Dean Jones hit 40 off the first three overs. I came on at the first change. I bowled my first ball, he took a massive backswing and cracked it.

Probably thought I could bowl faster than I did and mistimed it. It went up and mid-on caught him.”

But neither a medical career nor cricket was in his sights. “I was quite misguided at the time, thinking I wanted to become a lawyer,” he laughs. “I actually got into a university in Melbourne, but the ANU Law Faculty was very well regarded, so I relocated to Canberra.”

Sanjana completed his Law/ Commerce (Finance) degrees and returned home five years later to join Ernst & Young (now EY) in a finance role. During three years in their Melbourne office, he also qualified as a Chartered Accountant, a requirement that came with the territory.

“After that, I announced that I wanted to travel,” he tells. “So they sent me to the London office in 2005.

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I spent four years there working in a corporate finance and advisory role, particularly focused on private equity clients, so lots of strategy, growth and M&A (mergers and acquisitions) work.”

Even at this stage, the accommodation sector was not on his radar. Describing himself as a generalist, Sanjana advised across a range of sectors from retail to mining, waste management to technology “and everything in between.”

“Back in Australia, I continued to do the same,” he said. “I was roughly 10 years with Ernst and probably covered at least 25 to 30 industries.”

So, what led to his big switch from the world of private practice to a corporate role with Quest? After all, he was on the road to partnership at EY. It was a leap of faith he concedes “could easily have been a big mistake.”

Unlikely, most would agree, but here’s how it happened.

approached the decision analytically, just as he would when giving advice to those corporate giants.

His first question was ‘do I like the industry and how is it tracking?’

“I was amazed by the consistent growth and long-term potential of the accommodation industry,” he admits. “And that’s important, because industry strength is fundamental to underpin the prospects for a business.”

Next question, ‘do I like the business model?’ The clear answer was ‘yes’. Sanjana already had great admiration and respect for Quest, which had stood the test of time over 25 years and achieved huge growth.

“I realised what needed to be done now to accelerate growth at Quest was all within our control – human things over which we had influence. In the end, it was a simple decision to join Quest. There were no obstacles, it was all in our hands,” he said.

I love that we are one of the few brands that is capable of bringing new supply to market at a time when there is a clear supply shortfall. It’s because we also understand property and development.

Sanjana had been providing strategic advice to Quest for some time, but there was only so much he could do as an external consultant.

Then came the call from founder and Executive Chairman, Paul Constantinou.

“He took me to lunch and, over a couple of bottles of red, we talked about the future,” Sanjana recalls. “He asked me to join the group, not in any particular capacity, not with a defined job title, not even with an agreed salary. I had a blank sheet of paper.

“Paul is that kind of guy. He backs talent, not so much a complex organisational structure.”

Sanjana says he initially had no real clarity about which way he would go. Remember, Quest was a relatively small business (compared to the likes of BHP and Macquarie Bank he’d been working with) in a relatively small industry (against global mining, banking or retail).

But, in reality, his next move was never going to be a big mistake. He 8

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“I had looked at dozens of other industries and I fell in love with this one.”

So Zed Sanjana joined Quest in 2011 in a role you could loosely term General Manager, further developing and executing the strategies he’d begun to formulate as a consultant, and helping then CEO, Paul Constantinou, prepare to step back from the hands-on role he’d played since day one.

By 2013, Sanjana was appointed CEO, with Constantinou saying it had become important to separate the roles of CEO and Executive Chairman.

“There comes a point in the life-cycle of every successful business when rapid growth means you must take stock and work out the best way for the business to move forward,” he said at the time.

Clearly he had long singled out Sanjana as the “best way” for Quest to move forward. And move forward it did. Since joining the group, Sanjana has overseen the opening of more than 40 new properties across Australia alone, with a further 25 in the development pipeline to be opened

over the next three years. Quite incredibly, last year Quest opened six new properties in just six weeks, all of them greenfield developments.

“Since early 2000, Quest has opened between five and 12 new greenfield properties per year, without fail,” he said. “Just think about what has happened during that time – SARS, the GFC, probably three property downturns. Yet we have continued to grow new stock to meet the demand in the market.

“I love that we are one of the few brands that is capable of bringing new supply to market at a time when there is a clear supply shortfall. It’s because we also understand property and development.”

Sanjana believes the key to Quest’s business success has been its unwavering focus on its core business – extended stay for corporate travellers. “It is a stable, largely non-discretionary market segment,” he explains. “We are in corporate locations, not tropical north Queensland, not the Gold Coast.

“Corporate, extended stay is a solid, stable part of the industry. While leisure tourism grows, we benefit from that too, but it’s not our core business, not what we target.”

The other factors he loves about Quest, ones to which he also attributes the group’s success, are the people who make up the organisation and the culture within it. “It’s borderline cult,” he jokes. “The values and the passion are incredible. I believe if you go into a business with passion and discipline you’ll do well.”

Sanjana’s achievements are testament to that. He has also overseen the $10 million rebrand in 2015 to reflect Quest’s ‘hotel’ positioning, and been responsible for the formation of a strategic alliance with The Ascott Limited to establish a $500 million property fund targeting Quest growth projects.

All this while being father to three children under the age of eight, reigniting his interest in playing music (he’s a classically trained pianist and self-taught guitarist), and squeezing in a regular round of the game he loves so much he has travelled 16,000 km to one of the world’s most famous golf clubs to mark his milestone 40th.

Happy birthday Zed. We’ll look forward to the next 40! END

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› Leasehold REF: LH004599

A Serious Income With A Seriously Long Lease

24

28

Units

Year Tenure

Best Western Stagecoach Motel in the heart of vibrant Wodonga provides the perfect lifestyle / business balance. The immaculately presented motel consists of 24 rooms featuring a mix of single, double, twins, two bedroom, family and spa rooms all of which have recently been refurbished.

›› Long Lease (28 years remaining)

Located in the centre of Wodonga catering to a diverse mix of passer-by’s including tourists, trade workers and corporate travellers, ensures year round high occupancy. The 28 years remaining on lease, coupled with low rent, makes this an outstanding business opportunity.

›› 24 x 3.5 star AAA rated motel suites ›› Very sound consistent performer ›› Excellent location in strong motel town ›› 1st class presentation ›› Easy operation ›› Own separate 3 – 4 bedroom house ›› Low maintenance gardens

The owner’s residence is a large separate 3 – 4 bedroom house located just a short walk from the office offering complete privacy with the bonus of a lovely outdoor entertaining room. There are also three sheds which will take care of your storage needs.

It is perfectly set up for ease of operation for a couple looking at their first motel, or experienced operators looking to capitalise on the great work already established.

Financials Nett Profit: $245,807 Price: $990,000

Exclusive

Damien Loorham Broker

M. +61 409 399 932 E. damienloorham@resortbrokers.com.au 10

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Victoria

› Management Rights REF:MRB004641

Easily Managed Business Only In Brisbane’s Inner West

46

17

Units

Letting Pool Year Tenure

Taringa Gardens Apartments is a ‘business only’ permanent residential resort style complex in the heart of leafy Taringa.

It comes with a huge exclusive use office on-site with minimal office hours. The property netted $82,474 for the FY16.

›› New agreement in place with full 15 year term

This property is easily run, currently fully managed by a single operator. It has strong and consistent letting targeted at young professionals and families alike. The property has solid rental returns compared to similar properties in the area.

›› Perfect location in the heart of the western suburbs

The complex features 46 units with 17 in the letting pool and 18 owner occupiers. A brand new 15 year agreement is in place.

Taringa Gardens has a beautiful resort style pool that the body corporate pays for all repairs and supplies. With no real estate to purchase, Taringa Gardens will be in high demand and will be presented to the market in late quarter 1 of 2017.

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›› Net profit $82,474 ›› Easily run by a single operator ›› Owners want to sell and retire

›› 17 of 46 units in the letting pool ›› No real estate to purchase

Financials Nett Profit: $82,474 Price: $380,000

Exclusive

Nathan Eades Broker

M. +61 448 339 920 E. nathaneades@resortbrokers.com.au

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› Leasehold REF: LH004563

Leasehold Bargin With 38% Return And Room For Growth

61

20

Rooms

Year Lease

Call off your search. This is the lucrative motel investment you’ve been hunting – proven performance, prime location, consistent and growing market, and nothing to spend.

›› 61 rooms including 2 units, 51 fully renovated, 10 built in 2009

Burke & Wills Motor Inn, Kingaroy, is an immaculately presented 4-star leasehold motel boasting 61 large, fully-renovated rooms and an award-winning, 50-seat licensed restaurant. It occupies main street CBD position in a strong regional centre at the heart of Queensland’s thriving South Burnett wine, tourism and agricultural district.

Currently operated under management, with experienced staff in place, the property is already showing a very impressive ROI of 38%. Occupancy, now sitting at a healthy 64%, has been climbing since refurbishment in 2014-15. Turnover increased by almost 30% from FY15 to FY16. And opportunities exist for further growth.

Kingaroy, two hours north-west of Brisbane, has a broad-based economy supported by agriculture, tourism, the wine industry, Tarong Power Stations, and substantial health, education, and retail activity.

With a 20-year+ lease, this premier motel will suit the astute investor or an owner-occupier able to drive even stronger results.

›› Variety of room configurations suit diverse guest needs ›› Award-winning Explorers Restaurant, fully licensed, a la carte ›› Swimming pool, Foxtel, WiFi, guest laundry ›› Long lease and 2-bedroom manager’s unit ›› High tariffs ($190 - $270 per night), 64% occupancy and rising ›› Demonstrated 38% ROI

Financials Nett Profit: $877,433 Price: $2,300,000 + SAV

Exclusive

Lindsay Cooper

Len Booth

M. +61 418 711 047 E. lindsaycooper@resortbrokers.com.au

M. +61 438 139 422 E. lenbooth@resortbrokers.com.au

Broker

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Broker

Kingaroy

› Leasehold REF: LH004587

Near New Leasehold Apartment Hotel in Perth Suburban Location Offering Long Tenure

96

29

Units

Year Lease

An opportunity to become involved with Australasia’s most successful Apartment Hotel franchise group, Quest Apartment Hotels. The leasehold interest of Quest Rockingham offers the prospective purchaser a boutique 96 serviced apartment hotel business.

›› Constructed and opened in August 2015

Completed and opened in 2015, this hotel has been successfully building a strong presence in the local area, servicing the local port, a large industrial park, naval base and a strong corporate and leisure trade.

›› 92 studio and one bedroom apartments

Additional property facilities include an in-ground heated swimming pool and BBQ area, a conference room with kitchen and an expansive reception including two manager’s offices.

There is also a gymnasium, luggage room, guest laundry and 48 on-site car parking spaces. The ample, secure parking facilities make this a rarity in the Perth market, ensuring it is a very popular option with guests.

›› Opportunity to benefit from future growth with substantial local developments ›› Member of Australasia’s largest apartment hotel franchise group, Quest Apartment Hotels ›› Excellent mix of corporate and leisure guests ›› Maturing business with excellent future prospects ›› Lease 29 years from May 2016. ›› Number one on Trip Advisor

Financials Nett Profit: $270,213 Price: $1,500,000

Exclusive

Jim Chapman

Victorian State Manager

M. +61 413 444 782 E. jimchapman@resortbrokers.com.au

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Editorial

In this issue, we introduce our new Victoria-based Informer contributor, principal of MVS National Ballarat, Certified Practising Valuer and Associate of the Australian Property Insititute, Stephen Lane. MVS National is one of Australia’s leading property valuation firms. Stephen has specific specialist expertise in valuations for the hospitality and leisure sectors, including accommodation hotels, motels, pubs, caravan and tourism parks, manufactured housing estates, and serviced accommodation facilities.

MARKET RENT REVIEWS SUBMISSIONS TO DETERMINING VALUERS

S

ubmissions prepared by a property valuer are a key tool in Market Rent Reviews conducted under a lease and the Retail Leases Act 2003.

Having worked with tenants and landlords of varying experience for the past several years, I have developed a consistently effective rental submission format that I present to clients and the determining valuers. I am offering a free review of your lease to assist in your strategy to approach any upcoming market rent review for you and/or your clients for non-gaming hotels/pubs, motels or

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caravan parks.

The one aspect that holds true for both tenants and landlords is the uncertainty of a market rent review.

Each party, rightly or wrongly, will have a strong opinion of the market rental. When there is an irreconcilable gap between these opinions, a determining valuer will be appointed either by agreement, between the landlord and tenant, or by the Small Business Commissioner.

It is imperative to first understand what is involved in Victoria, under the Retail Leases Act 2003 (RLA 2003), in providing a submission to a

determining valuer.

A determining valuer is instructed under the lease or under Section 37 of RLA 2003 of Victoria to provide a rental determination at a relevant market rent review date. At this time a determining valuer will call for submissions, which allows the tenant and the landlord to put forward their opinion of market rental value.

Tenants and landlords tend to differ greatly in submissions to determining valuers – whether the submission is as simple as an emailed copy of the profit and loss statement to the determining valuer by the tenant to claim that the rent is too high, or a straightforward claim by the landlord, without evidence or rationale, that the rent is too low.

Some submissions involve solicitors, accountants and business brokers, but the more astute landlords and tenants will engage an experienced valuer with in-depth knowledge of valuing the relevant asset and preparing

submissions where the rent is in dispute.

The format I have developed assesses the current market rent in line with the RLA2003 and offers a strong argument for my client to the determining valuer.

My assessment is simply to understand and clearly sets out how I have assessed the market rental value. It also relies on leasing transactions as supporting evidence.

The key elements for a successful submission are:

1. The submission is in line with the Retail Leases Act 2003 Below is an extract from Section 37(2) of RLA 2003. Under this section the determining valuer MUST consider these matters; my submission is structured so that I have accounted for each matter presented below:

The current market rent is taken to be the rent obtainable at the time of the review in a free and open market between a willing landlord and willing tenant in an arm's length transaction in regard to: (a) the provisions of the lease; (b) the rent that would reasonably be expected to be paid for the premises if they were unoccupied and offered for lease for the same use, or a substantially similar use, to which the premises may be put under the lease; (c) the landlord's outgoings to the extent to which the tenant is liable to contribute to those outgoings; (d) rent concessions and other benefits offered to prospective tenants of unoccupied retail premises— but the current market rent is not to take into account the value of goodwill created by the tenant's occupation or the value of the tenant's fixtures and fittings.

There are some contentious points

above, a 2015 decision in the Victorian Supreme Court has found that the use of the Profits Method does not offend S37(2) (d) by taking into account the tenants goodwill, and, as discussed in Sam Hopper’s post Epping Hotel Pty Ltd v Serene Hotels Pty Ltd decision, it is best practice for a determining valuer to address each of the above matters rather than provide a generic statement indicating that the above matters have been taken into consideration.

2. Be Direct, Clear & Concise The Executive Summary of my report includes property specific points that present the key considerations that a determining valuer should consider in any submission. An example may be that, business turnover has reduced as a direct result of increased competition

Editorial

through the establishment of a new motel in the same township.

3. Investigate & report on the management skills of the operator An evaluation of whether the tenant is operating the business under the principles of “Average Competent Management” as described in the Small Business Commissioner’s Guidelines to the RLA 2003. Social media is an important tool for a valuer. Sites such as the RACV/Star Ratings Australia, Trip Advisor and Google provide a valuable overview of guest feedback, and this in conjunction with discussions with the tenant, will provide an insight into a tenant’s competency in managing the business.

4. High quality data and market evidence Quality information is critical. This is a key component of the report that a

determining valuer will review. When you instruct me, you gain access to a depth of market knowledge drawn from a database of market evidence that has been qualified and analysed to ensure the best evidence is used in the assessment of the market rent. Over time I have valued many accommodation complexes and hotels for mortgage security, litigation, family law and financial reporting purposes.

Through this process I have developed a strong knowledge base of recently negotiated rentals that support my assessed current market rental.

5. Calculations & Rationale The presentation of my rationale and calculations encompasses all the reported information to ensure a full and frank disclosure of all calculations and the best evidence used in arriving at the current market rental of the property. The Direct Comparison Method is used to assess the rent on a rate per room or site. The Turnover

Method – or Profits Method – is used to assess the rent as a percentage of net profit and/or as a percentage of gross turnover depending on the information provided.

An inadequate submission can be financially detrimental as there may not be another market rent review opportunity for up to five years; this means any annual variation to the rent would be multiplied five-fold before any CPI reviews.

I am offering a free confidential review for any lease that falls under the RLA 2003 with a market review due on or before September 30, 2017 to minimise any expense and uncertainty.

All conflicts of interest will be disclosed prior to the review; this offer only relates to non-gaming hotels/pubs, motels and caravan parks across regional Victoria. To take advantage of this offer and receive the full terms and conditions please contact Stephen Lane on 0456 045 211 or email me on stephen.lane@mvsvaluers.com.au.

END

› Management Rights

REF: MR004636

Brand-New Permanent Management Rights In North Brisbane

101

73

3

2

Units

Letting Pool

Bed

Bath

Completed in June 2016 by the long-established Matthew Group, this is a great opportunity to secure a management rights business that has already been fully set-up (letting appointments secured, units tenanted), yet is modern and brand-new.

›› Total of 101 villas / townhouses, 73 managed in on-site letting pool ›› Large 3 bedroom, 2 bathroom manager’s residence with fenced backyard ›› 22 externally managed units to win back ›› Good scope to add income streams and grow net

Located in the Sandstones Lakes masterplan community, Desert Ash Grove provides a water-side aquatic lifestyle that is ideal for family. Caboolture City and Bribie Island are your direct neighbours and Brisbane is only 30 minutes away.

Financials

With a high quality, great value manager’s residence and plenty of room to grow the business, this is one not to be missed!

Nett Profit: $233,845 Price: $1,400,000

Exclusive

Alex Cook Broker

M. +61 467 600 610 E. alexcook@resortbrokers.com.au 16

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Brisbane

Editorial

Trudy Crooks NATIONAL SALES MANAGER

ON THE

MARKET Whether a long-time accommodation owner, a recent investor, or simply an interested bystander, everyone is always keen to know what the market is doing. It’s the question I’m most frequently asked, as I crisscross the country supporting our growing national team of brokers.

Right now, in a word, the market is going ‘gang-busters’. I can tell you Resort Brokers is genuinely busier than we have ever been, and settling more sales than ever. Enquiry is up considerably too, so we foresee a prolonged period of market strength.

In the 2016 calendar year just concluded, Resort Brokers settled a total of 193 sales, which represents an increase of 11.6% on the previous year.

Particularly noteworthy was a 21.2% increase in the volume of management rights sales, lifting to a total of 103.

Quite a number of these were ‘off-the-plan’ deals, a field in which our specialist (my brother) Tim Crooks has really established himself as the

national expert. The volume of off-theplan transactions is also a product of burgeoning apartment development in the east coast capital cities, which in turn grows the management rights industry.

Another interesting feature of the year’s activity was a doubling in the value of our caravan park sales, due in part to the high level of interest from large manufactured housing estate (MHE) companies.

Resort Brokers’ 2016 annual record illustrates the diversity of properties we handle and our truly national reach.

Sales ranged from a small ($160,000) Townsville rent roll to a $10 million-plus management rights sale on the Gold Coast. And they stretched from Tasmania to Tropical North Queensland, from Fremantle WA to Weipa in the Gulf of Carpentaria.

We know these growing activity levels are indicative of an extremely buoyant market fuelled by rising visitor numbers. The future of the tourism industry is now looking extremely bright.

But we also know that the size of our workbook and our growing market share are direct results of our own efforts – of constantly building our marketing power and our huge investment in recruitment and training.

I mean it when I say that Resort Brokers Australia now has the best team of brokers ever, and our success is very much down to them.

Here are just a few of the market highlights generated by our terrific team in recent times.

Record a winner: Resort Brokers’ Brisbane sale of Gurner’s FV to Mantra Group, negotiated by my good self and brother Tim, is now official. It’s the biggest off-the-plan management rights sale ever in Australia.

The record naturally drew quite a deal of media attention. From our perspective, the important thing is that it is a huge win for all stakeholders,

particularly for apartment owners who will have such a quality, experienced operator at the helm.

Gold Coast action: Senior Gold Coast broker, Alex Cook, has been very busy.

Major players were involved in one of his biggest deals. Ultiqa won a hot bidding contest to buy the management rights to Beach Haven at Broadbeach from Dreamtime Resorts for a price in the region of $10 million.

With around 100 units in the shortterm letting pool, it is one of the largest holiday management rights on the Coast.

In the permanent management rights arena, a stand-out deal was Alex’s sale of one of the region’s largest townhouse complexes, Sailfish Cove, Mermaid Beach, for over $4 million.

It just goes to show, the traditional mainstay of the management rights industry, ‘Mum and Dad’ operators, are still very much a force in the sector.

Both the vendors and buyers of Sailfish Cove are small private operators.

Appetite for motels: A suite of motel sales by our NSW brokers Russell Rogers and Shane Wynhoven is indicative of the investment appetite for sizeable motels, particularly in strong regional locations.

Between them, the pair sold the contemporary 4-star Thunderbird Motel at Yass, boutique Lincoln Downs Resort & Spa at Batemans Bay, and award-winning Quality Inn Carriage House at Wagga Wagga to entities associated with fund manager Mandala Asset Solutions. The transactions totalled a very healthy $14 million-plus.

Parks in the fast lane: One segment of the accommodation market that is really firing is caravan and tourist parks. Late last year, Aspen Group snapped up the 96-site BIG4 Tween Waters Holiday Park at Merimbula in NSW for $6.8 million in a deal also handled by Russell Rogers.

It’s indicative of the demand, particularly from corporate buyers, for parks in quality locations. Russell has also just listed the Coachhouse Marina Resort, which sits on an incredible 6.2ha waterfront site with loads of expansion opportunity in Batemans Bay. We’ll have a closer look at the hot holiday park and manufactured housing estate market in our next issue. END INFORMER MARCH 2017 |

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› Leasehold REF: LH004635

Huge Leasehold Upside Opportunity In Coastal Regional Hotspot A big opportunity next door to the iconic Big Banana! An astute owner/operator has a superb chance to quickly turn this big ship around. Close to impossible to find at this price, a 50+ room leasehold business in a major tourist and corporate destination on the Mid North Coast.

Should you assume industry and local benchmarks as an experienced energetic owner operator, you have the genuine prospect of benefiting from both operational and capital gain.

Every revenue stream has upside and the property has been keenly priced to create a win for a savvy opportunist to take an educated leap of faith.

The 52 motel rooms range from 3 to 3.5 stars and while tidy and well maintained, many would benefit from a soft refurbishment and new tiling to the ensuite bathrooms.

52

27

Units

Year Lease

›› A generous mix of corporate & tourist travel in huge regional centre ›› Franchisee of the worldwide Silver Needle Hotel Group ›› Resort style swimming pool and landscaped gardens ›› 52 rooms in various sizes and styles ›› Large restaurant and bar, with new hardwood deck for outdoor dining ›› Convenient 4 way access to the Pacific Highway ›› 27 year leasehold and enormous potential for owner operators

Financials Nett Profit: $212,235 Price: $600,000 FIRM Exclusive

James Carrick Broker

M. +61 400 664 065 E. jamescarrick@resortbrokers.com.au 18

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New South Wales

› Management Rights REF: MR004603

It’s All About The Location, But There’s So Much More

35

21

Units

Letting Pool Year Tenure

A rare opportunity exists for a couple or individual to live and enjoy the location and friendly environment of this medium rise in Mermaid Beach. Easily run by one, Foreshore Beachfront Apartments offers lifestyle as well as potential to increase the net profit. Built in 1990, this medium-rise comprises of a total of 35 units, 21 of which are managed in the on-site short term letting pool. For a one bedroom residence, you will find it very spacious and comfortable.

›› Absolute beachfront property – guests walk straight onto beach

The new agreements provide 15 year accommodation module with just over 14 years to run. There is a well-appointed office down the hallway from your living area with a complete fitout and on title.

›› Large private balcony (to be partly enclosed)

This property offers all the amenities for a complete family holiday, with salt water pool, spa pool, bbq facility and its own bowls and mini putt lawn. Without the need to cross any roads to get to the beach, the property is and always will be incredibly popular with a broad spectrum of holidaymakers, particularly families. It is hard to underestimate the pulling power of a holiday property right on the beach. Fantastic return on investment and prime location make this property an absolute MUST to inspect.

15

1

1

Bed

Bath

›› Currently run by one ›› High quality apartments in letting pool ›› Versatility of manager’s residence ›› Good body corporate salary ›› Great variety of well maintained facilities

Financials Nett Profit: $209,800 Price: $1,399,000

Exclusive

Jenny Sorenson

Alex Cook

M. +61 475 089 468 E. jennysorenson@resortbrokers.com.au

M. +61 467 600 610 E. alexcook@resortbrokers.com.au

Broker

Broker

INFORMER MARCH 2017 |

Gold Coast resortbrokers.com.au

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› Leasehold

REF: LH004581

The Perfect Product – 37 Year Unrivalled Leasehold Property

22

37

Units

Year Lease

A moteliers holy grail! A complete, thorough and detailed internal renovation to all rooms and reception/office over the past 24 months provides the incoming operator the opportunity to further capitalise on the growth trajectory which is apparent over the past 12 months of operating with the finished product. The perfect property to be managed by a husband and wife operational team.

Recently rewarded for design with a 4.5 AAA star rating providing the ability to deliver a premium tariff and the benefit of further growth potential. The ultimate one stop corporate traveller stay, perfectly located on the fringe of town capturing two of the major entries into Tamworth.

›› 22 completely refurbished corporate motel rooms (includes two bedroom cottage) ›› AAA 4.5 star rated ›› 37 years remaining on lease ›› Low rent to net profit ratio ›› Perfectly located on the fringe of town

Financials ' Price: $1,295,000

Exclusive

James Carrick Broker

M. +61 400 664 065 E. jamescarrick@resortbrokers.com.au

New South Wales

› Management Rights

REF:MR004651

An Absolute Cracker Near The Beach

15

13

20

2

2

Units

Letting Pool Year Tenure

Bed

Bath

Welcome to Mission Reef Resort, located in the world heritage hub of Mission Beach. Mission Reef Resort consists of 15 self-contained apartments and is an easily managed holiday complex. This is ideal for a management team or sole operator. This complex would also be quintessential for the first-time management team looking to enter the management rights industry. The business has plenty of up-shot with strong repeat clientele who continue to return year after year. The increasing change to social media and internet booking agents provides an opportunity for a tech-savvy person to further increase the potential of the business. An affordable opportunity in which to enter the resurgent Mission Beach market.

›› Well positioned location for guests ›› Quaint 2 bedroom 2 bathroom managers residence with large covered outdoor patio ›› An absolute opportunity for a motivated purchaser ›› FNQ is back in the market – ENQUIRE NOW!

Financials Nett Profit: $130,000 Price: $760,000

Exclusive

Chenoa Threlfall Broker

M. +61 403 143 151 E. chenoathrelfall@resortbrokers.com.au 20

resortbrokers.com.au | INFORMER MARCH 2017

North Queensland

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› Management Rights

REF: MR004590

Holiday High-Rise In The Heart Of Surfers Paradise

51

34

2

2

Units

Letting Pool

Bed

Bath

Genesis Apartments is a lovingly maintained, iconic high-rise located in a prime, central Surfers Paradise position. Extensive renovations in recent years give it a modern and stylish appearance (new reception, new pools etc).

›› Prime location close to beach and central Surfers ›› Considerable recent upgrades to building ›› High quality apartments, most part or fully refurbished ›› Fully renovated manager’s residence ›› Supportive, proactive BC committee

Currently managed by a husband and wife team on their own $20,000 has been allocated to wages in the P&L to give the new owners some extra lifestyle. With the ever improving fortunes of the Gold Coast - strong expected tourism growth, 2018 Commonwealth Games and $10BN of infrastructure projects underway - now is the time to become a part of the Gold Coast!

Financials Nett Profit: $370,000 Price: $2,495,000

Exclusive

Alex Cook

Jenny Sorenson

M. +61 467 600 610 E. alexcook@resortbrokers.com.au

M. +61 475 089 468 E. jennysorenson@resortbrokers.com.au

Broker

Broker

Gold Coast

› Leasehold

REF: LH004588

The Best Property In Ipswich, One Of SE Queensland’s Growth Hotspots

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64

27

Units

Keys

Year Tenure

Dual opportunity to join Quest Apartment Hotels and to acquire the leasehold to a modern, corporate driven apartment hotel property. Built only 8 years ago, Quest Ipswich is the best property in town – highest ADR and top position on TripAdvisor.

›› 4.5 star rated, modern, high quality hotel; #1 on TripAdvisor for Ipswich ›› Diverse and strong client base; defense, health, education, industrial ›› Located in high growth area; great scope to build business in coming years

Strong future growth in pipeline – RAAF Amberley (about 40% of business) will double capacity and projects in the next two years.

Rare opportunity to acquire a high quality hotel, that produces a great return and has huge growth potential.

Financials Nett Profit: $325,000 Price: $1,380,000

Exclusive

Alex Cook

Lindsay Cooper

M. +61 467 600 610 E. alexcook@resortbrokers.com.au

M. +61 418 711 047 E. lindsaycooper@resortbrokers.com.au

Broker

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resortbrokers.com.au | INFORMER MARCH 2017

Broker

Ipswich

32% ROI, 29 Year Lease

14

29

Rooms

Year Tenure

On offer is the leasehold business of a beautiful boutique 14 room motel in the heart of Marysville, Victoria. Only 90 minutes from Melbourne, this stunning 4-star property was fully renovated in 2014 with the latest in interior design. Nothing has been missed with new furniture, fittings, TV’s, beds and all capital works completed including carpet, paint, electrical, plumbing and individual room hot water units.

›› ›› ›› ››

On entry to the motel you find reception adjoining a fantastic piano lounge bar, which is popular with both visitors and locals alike. Sit at the bar in front of the open fire or head upstairs to the rooftop terrace and take in the views.

Financials

› Leasehold

REF: LH004586

Easy to run operation and not a cent to spend 58% occupancy New long lease (29 years remaining) 14 boutique, 4-star motel rooms (additional room available, currently used as storage) ›› Opportunity to capitalise on F&B income

Nett Profit: $196,305 (Annualised) Price: $620,000

Exclusive

Damien Loorham Broker

M. +61 409 399 932 E. damienloorham@resortbrokers.com.au

Victoria

Mud Hut Motel Hotel The Mud Hut Hotel Motel is located on the in-land highway between Townsville and Mt Isa. Being first time operators, the current vendors have now put methods in place that have proven to be tried and tested to ensure a prosperous operation. These operations are best suited to a hands-on operator to keep the business powering along.

The hotel-motel has multiple income streams - F&B, gaming, bottleshop and accommodation with an in-ground swimming pool.

This is a great opportunity to capitalize on the strengths of a rural community with a profitable integrated hotel with a long lease.

3

28

Units

Year Tenure

› Leasehold

REF: LH004494

›› New 30 year lease started in 2015 ›› Multiple income streams – F & B, gaming, TAB, Keno, takeaway and accommodation ›› Strong rural community ›› 3 bedroom residence with ample space and storage ›› Great return on investment

Financials Nett Profit: $120,000 Price: $275,000 + SAV

Exclusive

Des Fagg

Shane Mullins

M. +61 427 849 119 E. desfagg@resortbrokers.com.au

M. +61 447 185 001 E. shanemullins@resortbrokers.com.au

Broker

Broker

INFORMER MARCH 2017 |

North Queensland resortbrokers.com.au

23

Editorial

POWERFUL CONNECTIONS … TO MAKE YOUR BUSINESS BETTER Sharing. It’s a current buzzword. Mostly it’s used to describe a commercial movement, the ‘sharing economy’. But let’s remember what sharing really describes – giving, contributing, collaborating. Industry associations have ‘sharing’ at their core – shared interests, shared resources, shared benefits.

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P

owerful representative bodies like the AAoA and ARAMA only exist because, in the beginning, a bunch of moteliers or building managers got together to achieve better outcomes for their industry. Strength in numbers, they figured.

Today, each of these peak bodies has more than 1000 members across the country and a seat at the table in virtually every important forum affecting the accommodation sector.

But the fundamental reason individual owners, operators and managers should get behind their industry associations remains as clear and present as the day those early proponents first sat down together … because you want better outcomes for your industry.

And the more of you who step up, the bigger the voice you will have.

Stand up, be counted If there is one glaring contemporary issue that really underlines why industry members need to share their collective resources and get behind their industry associations, it is actually this so-called ‘sharing economy’.

If, like so many in our industry, you are concerned about the growth of unregulated, non-compliant accommodation, like that available through websites like Airbnb, you need to get behind the industry bodies who are working to advocate on your behalf.

“Nobody likes to just sit back and let others do the heavy lifting,” says Resort Brokers national sales manager, Trudy Crooks. “We all want to pull our weight, and being part of an industry organisation is one way we can do that really effectively.

“Instead of simply worrying about things that might impact your business, association membership allows you to stand up and be counted, to exchange ideas and take some control of your own destiny.”

“GOVERNMENTS RESPOND TO NUMBERS. THE MORE MEMBERS WE HAVE THE MORE REPRESENTATIVE POWER WE HAVE.” TREVOR RAWNSLEY CEO, ARAMA

Richard Munro, CEO - AAoA

Influence Richard Munro, CEO of the Accommodation Association of Australia (AAoA), says the most effective way to bring about change is to work together as an industry.

His 1,000 member properties include hotels, resorts, serviced apartments, motels, B&Bs, guest houses, backpacker establishments, caravan parks and timeshare.

“If you are not a member and have concerns about current and upcoming issues, legislation and regulations which impact on your business, join the Accommodation Association and have your say,” he said.

The AAoA prosecutes a very clear agenda on behalf of the industry, broadly focused in four main areas – demand drivers, employment, regulation, and taxation.

“While the government has the last word in regulation, the accommodation industry largely operates within itself and the AAoA tries to protect members’ interests at all times, so we are in constant communication with federal bodies,” Munro said.

“Supporting good infrastructure that will hopefully attract more visitors is part of our focus on demand drivers.

Lobbying for better payroll tax and standing off against companies and services like Airbnb and online travel agencies is also a part of our work.

“And we worked very hard to secure the better outcomes for the industry around penalty rates that were contained in the recent decision by the Fair Work Commission,” he said, citing current evidence of just how effective their industry advocacy can be.

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25

“Governments and regulatory bodies have shown they take into consideration the views of the Accommodation Association, particularly as ours is a strong organisation with members across all states and territories.”

Numbers game

Trevor Rawnsley, CEO - ARAMA Trevor Rawnsley, CEO of the Australian Resident Accommodation Managers Association (ARAMA) agrees that having influence at the top level is a numbers game.

“Governments respond to numbers.

The more members we have the more representative power we have.”

ARAMA is the not-for-profit, peak industry body representing the interests of people involved in management rights, a sector that has grown from a cottage holiday letting industry 25 years ago to a significant sector managing in excess of $15 billion in property.

“Management rights were seen as the original disrupters to the 26

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holiday letting business, which had traditionally been done by outside agents in a rather sloppy fashion,” Rawnsley said. “We made it structured and professional, and outperformed the old letting agents.”

As the industry grew, initially in Queensland, the government decided it should regulate. But the laws they proposed could have wiped it out.

So the early operators mobilised and formed QRAMA, sharing ideas, resources and skills, and amassing a fighting fund to protect their industry and represent it in an impartial and independent way.

ARAMA, the national body, grew from that. 2017 is officially their 25th anniversary. And Rawnsley says they are as relevant and vital, if not more so, than ever. He is their first paid employee (now still only two) and has been steering ARAMA for eight years.

But everyone else is a volunteer.

People power “The management rights industry is still under constant attack from competing interests like outside agents, facilities management companies and, to some extent, the strata industry. But we have the proven track record of delivering greater rental returns for lot owners and far more efficient and costeffective management.

“That’s why the industry is growing in NSW, Victoria and across Australia.

This brings me back to the original reason why the association formed in the first place – because operators need representation,” Rawnsley said.

“We have stayed the course and the fact is we do have a big influence.

Effective representation costs money, so membership is vital. ARAMA is people. Without us there would be no industry, no business methodology, no value. Individual members don’t have to struggle in isolation. They have confidence. We make our industry viable.”

The power of ARAMA’s influence is reflected in the long list of ‘tables’ it sits at.

Rawnsley is on the board of the Queensland Tourism Industry Council (QTIC), putting management rights front and centre on tourism issues.

In fact, he’s just been invited to be a judge in the Queensland Tourism Awards. ARAMA will also shortly join the equivalent board in NSW, with Victoria next in line.

It is also represented on the industry council that consults with Queensland’s Residential Tenancy Authority, the Queensland Housing Service and the Tenants’ Union, and is working to establish similar links with the NSW and Victorian residential sectors.

And then there are roles such as meeting with the Commissioner for Body Corporate and Community Management regularly and liaising with the Office of Fair Trading.

“ARAMA puts management rights front and centre in all those discussions,” Rawnsley said.

“We represent the industry operators are invested in. We are making sure it remains on a solid footing. Everyone who is involved needs to keep feeding the industry to keep it healthy. I believe we all have an obligation to do that.”

Editorial

More benefits Beyond these imperative industry lobbying and advocacy roles, particularly in regards to legislation and regulation, the benefits of association membership are extensive.

They include access to cost savings through group purchasing arrangements, essential education, information, training and advice, and industry networking for social enjoyment as well as the exchange of views.

Grow with your industry So, whatever segment of the accommodation sector is your primary focus, and if you are not already a member of your industry association, seek them out. AAoA and ARAMA are two of the most significant, along with:

• Tourism Accommodation Australia (TAA)

representing substantial operators and employers as a division of the Australian Hotels Association (AHA);

• The Caravan Industry Association of Australia, a peak national body for the caravanning and camping industry made up of all the state and territory associations; and Tony South, Chair - Tourism Australia

The value of participation is recommended at even the highest levels. Current Chair of Tourism Australia and former Tourism Accommodation Australia Chair, Tony South, takes every opportunity to champion the cause.

During a recent industry address he was asked about important ‘life lessons’ learned during his long and illustrious career in the tourism, hotels, property and leisure sectors.

High on his list was “get involved – stay connected”.

“Being involved with and connected to others in your industry keeps you informed, engaged and inspired,” he said. “It goes hand in hand with some of my other life lessons, like ‘be a good listener’ and ‘like people, it’s reciprocal’.

“We’ve all got something to contribute that will help industry colleagues, and we gain so much in return, on industry, business and personal levels. We share the load and share the rewards,” South said. END

• TTF Australia (Tourism & Transport Forum), a national member-funded CEO Forum advocating the public policy interests of companies and institutions in the tourism, aviation and investment sectors.

As the tourism and accommodation industries continue to grow, these organisations will grow in power, influence and importance. And that means better outcomes for individual operators and the industry as a whole … their very ‘raison d’etre’ since inception.

FOOTNOTE: Resort Brokers Australia is a member of the AAoA, ARAMA, the Caravan Industry Association of Australia, Real Estate Institute of Qld (REIQ), REINSW, and REIV.

INFORMER MARCH 2017 |

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› Management Rights REF: MRC004614

Be The First To Secure This Brand New Management Rights In Redland Bay

26

25

Units

Year Tenure

Resort Brokers Australia presents to the market a wonderful opportunity in Redland Bay. This easy to manage complex currently consists of caretaking duties only, featuring no lawn, no pool and no barbeque commitments.

›› Brand new building

A caretaking only business in today’s market is desirable, sought after and hard to find. With a letting agreement in place but no units in the letting pool, any appointments secured by the incoming manager are a bonus.

›› Good scope for additional Income

The caretaking duties are minimal, taking only a few hours per week, permitting a great Bayside lifestyle. A business like this can be added to an existing property or portfolio around Brisbane.

›› No lawns, no pool, no BBQ ›› Brand new 25 years agreements ›› Consistent salary adjusted with CPI ›› Perfect as an add on business ›› Great location within Redland Bay ›› Opportunity for further growth

There is no real estate included with this purchase and there are no set office hours in the agreements.

The building is under construction and is due for completion at the end of March 2017. Please don’t hesitate to call and arrange an inspection today.

Financials Nett Profit: $33,750 Price: $141,750

Exclusive

Brent Staker

Tim Crooks

M. +61 410 344 344 E. brentstaker@resortbrokers.com.au

M. +61 422 208 450 E. timcrooks@resortbrokers.com.au

Broker

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Off the Plan Specialist

Redland Bay

› Freehold REF: FH004555

Boundary Bend Caravan Park and General Store On offer is the freehold and business of the Boundary Bend Caravan Park and General store, providing retail fuel sales, a café and general store, liquor sales and caravan park and onsite cabin accommodation.

›› Good mix of revenue sources via fuel, cafe, liquor and accommodation sales

The general store, café and bottle shop also service the fuel and liquor sales businesses. The fuel pumps are for the sale of petrol and diesel with underground storage tanks for diesel (11,000 litres), premium unleaded (4,000 litres) and unleaded fuel (4,000 litres).

›› Shedding and storage at various points on the property

A 24 room bunkhouse is located at the rear of the property with communal kitchen and amenities. In addition, there are 4 onsite park owned cabins, 32 powered sites and 12 camping sites. The amenities block servicing the accommodation provides separate female and male toilets and showers and plenty of storage.

›› Above ground water tanks ›› In ground swimming pool (fully fenced)

›› Set in a peaceful and picturesque location opposite and with views of the Murray River ›› Located 1 hour north-west of Swan Hill and 1.25 hours south-east of Mildura ›› 4.346ha/public park and recreation zone (PPRZ)

Financials Nett Profit: $208,021 Price: $1,395,000 plus savings Exclusive

Michelle Matthews Broker

M. +61 400 474 861 E. michellematthews@resortbrokers.com.au

Victoria INFORMER MARCH 2017 |

resortbrokers.com.au

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› Management Rights

REF: MR004648

Management Rights & Freehold – Great Ocean Road

34

16

Units

Letting Pool Year Tenure

A sensational opportunity to secure a substantial freehold and management rights business on the Great Ocean Road.

The property is located in the heart of Lorne overlooking the water.

›› Excellent opportunity to secure substantial freehold on the Great Ocean Road, sensational location ›› Large studio apartments, many with sea views ›› Bed & breakfast only ›› Caretaking agreement ›› Managers residence with sea views ›› Consistent turnover and occupancy

On offer is the freehold of eight studio apartments and manager’s residence. The management rights business currently has 16 in the letting pool. Many of the units have wonderful sea views and the property sits just behind the main street. Lorne is without doubt one of the most beautiful and popular towns on the Great Ocean Road.

14

3

1

Bed

Bath

Financials Price: $2,300,000

Exclusive

Stuart Charles Broker

M. +61 458 588 472 E. stuartcharles@resortbrokers.com.au

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Victoria

Tasmanian Country Cottages We are pleased to offer this exciting and iconic Tasmanian business, situated in a prize winning “Tidy Town”. This business is well supported by both local, national and international visitors, enjoying terrific repeat business.

The property consists of 8 custom built cabins overlooking a picturesque lake. Also on site is a laundry/store and reception.

Situated on a large block of land, there is opportunity to build more cabins or perhaps expand into a caravan park for the burgeoning “Grey Nomad” market. NOW is the time to take advantage of the rapidly expanding Tasmanian tourist market with a business in a fabulous location.

› Freehold

REF: FH004530

8 Units

›› Situated in a lovely Tasmanian country town ›› Well established business with revenue derived from eight quality 5-star self-rated cabins ›› Opportunity to convert reception to another incomeproducing cabin or one bedroom manager’s unit ›› Unrivalled views over the lake and farmland ›› Situated on 7.36ha allowing for significant expansion

Financials Price: $1,300,000

Exclusive

Ray Ironside Broker

M. +61 418 130 364 E. rayironside@resortbrokers.com.au

Tasmania

Management Rights In Tasmania’s Premier Location

40

40

16

3

Units

Letting Pool Year Tenure

Imagine this; you are the owner of one of Tasmania’s best management rights and restaurants situated right next door to Tasmania’s iconic heritage site with over 340,000 visitors each year. Not only do you have the best accommodation in the area, but also some of the most majestic views and one of the only local restaurants.

›› 40 units with coastal or bush views ›› Gabriel’s on the Bay Restaurant adds incredible value ›› Three-bedroom owner’s unit, separate reception, laundry and storage shed freehold and a two-bedroom cabin for the assistant manager ›› Fully staffed business with reliable local staff

Need I say more? Management rights in Tasmania are a rare species and highly sought after. Quality one’s such as this should be inspected immediately, you will not be disappointed with the 28.6% return on the business.

Financials

Bed

› Management Rights

REF: MR004477

Nett Profit: $385,793 Price: $1,750,000

Exclusive

Ray Ironside Broker

M. +61 418 130 364 E. rayironside@resortbrokers.com.au

Tasmania INFORMER MARCH 2017 |

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31

Editorial

Community Spirit OCCASIONALLY, THE SHEER DECENCY AND COMPASSION OF SOME PEOPLE TOUCHES YOU SO DEEPLY, IT JOLTS YOU INTO ACTION. OFTEN YOU’RE INSPIRED BY THE DEDICATION AND ENTHUSIASM THAT SUSTAINS SOMETHING LIKE A JUNIOR SPORTING CLUB. AND SOMETIMES, WHEN YOU ARE PART OF A COMMUNITY, YOU JUST NEED TO LEND A HAND.

Healthy to fight hardship Resort Brokers Australia is putting the call out to friends and industry colleagues to join us in supporting a terrific initiative helping some of the most vulnerable people in our midst.

Common Ground is an organisation whose vision is to end homelessness by providing affordable housing solutions. At the same time, they are also providing integrated support services for their residents.

Disability and long-term mental and physical illness rates among homeless people are many times that of the general population. But it’s also true that chronic disease and mental health are fields in which allied health interventions can be really effective.

Unfortunately, access for homeless people to such services is limited because of many barriers – financial, social and geographic.

Common Ground is breaking down those barriers in South Brisbane, with the support of local business people.

First they established a fitness and wellbeing centre in their accommodation building, then local allied health service practice Iridium Health sellessly volunteered their

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give expertise and time to provide a program for residents and rough sleepers.

“This brilliant program is putting health at the forefront of tackling hardship,” said Resort Brokers managing director, Ian Crooks. “So we decided to sponsor three months of the program ($1,500 per month) to help keep it running.

“Managing director of developer Aria, Tim Forrester, is another keen supporter, and we are shouting out to others to come on board so Tim Douge and his staff at Iridium Health can continue this incredibly worthwhile initiative.”

About 150 homeless or at-risk people have access to the gym and free training sessions, aimed at improving social inclusion, emotional wellbeing and physical health.

For just $1,500 a month, Iridium can provide the Common Ground clients with access to more than 40 hours of exercise physiology, dietetics and counselling. If you can help or would like to know more, please contact Tim Douge at Iridium Health on 0409 315 826 or email tim.douge@iridiumhealth.com.au

Now thats cricket Juniors at the Cooroy-Eumundi Cricket Club on Queensland’s Sunshine Coast are looking smart on the field these days in their Resort Brokers Australia kit.

Thanks to local broker and club supporter Tyler Millar, our team got behind their team with a sponsorship package for the 2016-17 season.

Howzat!

Our Under 14s made the semifinals, and the Under 12s finished a creditable 4th on the local competition ladder. Go teams!

Hillhouse Burrough McKeown INFORMER MARCH 2017 |

Lawyers

resortbrokers.com.au

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Coachhouse MARINA RESORT

UNREPEATABLE WATERFRONT POSITION | PROVEN INCOME PERFORMANCE | EXCELLENT DEVELOPMENT POTENTIAL Boasting prime position at the edge of Batemans Bay Marina boat harbour, this stunning villa resort and conference centre presents an outstanding multi-faceted opportunity. »E stablished 6.24ha, 89-villa waterfront resort and functions centre generating a $3.2m+ turnover » Rare, substantial waterfront freehold parcel on the NSW South Coast with genuine bankable long-term income » Immediate growth opportunity – approx. 8,000m2 vacant waterfront land

» 2.2ha rezoned for medium-density residential development » Now is the time to invest in Batemans Bay, located at the centre of the Sydney-Canberra-Melbourne holiday triangle. Tourism is on the rise, the adjacent marina precinct redevelopment underway is a major economic catalyst, and Batemans Bay has just been ranked among the Top 3 residential real estate growth hotspots to 2025.* * Residex Predictions Report / Corelogic, Jan. 2017

RUSSELL ROGERS BROKER

EXPRESSIONS OF INTEREST INVITED (OFFERS ABOVE $25 MILLION)

M: 0416 166 909 E: russellrogers@resortbrokers.com.au

RESORTBROKERS.COM.AU 1300 665 966

Editorial

The

Motel Lease REPAIRS & MAINTENANCE

by David Burrough

A

s we mentioned in our last article, a motel lease should quite clearly set out the obligations of the tenant and the landlord, particularly when it comes to the repair and maintenance of the motel.

It is a feature of most well drawn modern Leases that responsibility for maintenance and upkeep of the motel is very much left to the tenant. The rationale behind this is that the motelier does not want his business suffering whilst he waits for a tardy landlord to effect repairs to the property. It is far more desirable that the motelier be in control of the maintenance of his own building so that his business is not adversely effected.

The clauses relating to repairs and maintenance are often disputed when negotiating a lease and are often disputed during the term of the lease. For this reason it is essential that the clauses be as clear as possible as the clearer the lease the easier it is for both parties to understand their obligations.

The most difficult part of the repairs and maintenance clause is determining who owns what in the motel and who is responsible for the replacement of an item if it comes to the end of its life.

The general rule should be that the each party replaces their own property however it is all maintained by the tenant.

If the Lease requires AAA membership, the starting point when it comes to repairs and maintenance is the AAA Report which is prepared every 3 years. The lease should require the tenant to comply with all requirements and recommendations contained in the AAA Report within a reasonable time (except for those requirements of a structural nature).

More specifically, the Tenant will generally be required to: (a) keep the motel and the landlord's property clean and in good repair and repair any damage to the motel and the landlord's property caused by the tenant or the tenant's agents; and (b) keep the tenant's property

clean and in good repair; and (c) replace damaged plate glass and other glass in the motel; and (d) maintain and repair the services.

The lease should also require the tenant to re-decorate the motel when reasonably required by the landlord but not more frequently than once in each period of 7 years.

The tenant should not be responsible for any structural repairs, fair wear and tear, latent defects or, as mentioned above, the replacement of the landlord's property. The Lease should require the landlord to replace the landlord's property.

To remove any doubt as to what is the landlord's property and what is the tenant's property, our plain English motel lease lists the types of items that landlord and the tenant will be respectively obliged to replace when the item comes to the end of its life. This is an important aspect of the negotiations prior to settling the terms of the lease. We will discuss the items which are often negotiated in these clauses of the lease next month.

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› Management Rights REF:OTP004642

Wonderful Off The Plan Townhouse Management Rights In Oxley Resort Brokers Australia presents to the market a wonderful off the plan townhouse complex, nestled in the leafy heart of booming Oxley. This opportunity is not to be missed!

The suburb of Oxley is located 12km form Brisbane’s CBD and on the edge of the exclusive inner river city suburbs. Pavillion’s on Parkvue is the last piece of the sought after Parvkue at Oxley estate.

To be released in 3 stages, all 66 homes offer an experience of architectural design and elegance. Open plan living, expansive glazing and free flowing interior spaces capture optimal natural light and views seamlessly connecting each home with its own private and tranquil outdoor area.

These features together with the resort style pool and recreational facilities will make letting units a breeze. Projected net profit is $185,239 with stage one of three being delivered in Dec 17’.

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›› Beautiful brand new townhouse management rights ›› Brand new 25 year agreement ›› Strong projected letting pool income ›› Great lifestyle business to suit experienced operator ›› Spacious managers residence, no requirement to live onsite ›› 3 stage development – stage one due Dec 17 ›› Renowned developer – Unison Projects

Financials projected Nett Profit: $185,239 Unit price: $550,000 Asking Price: $815,052

Exclusive

Nathan Eades Broker

M. +61 448 339 920 E. nathaneades@resortbrokers.com.au 36

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Brisbane

› Management Rights REF:OTP004643

Wow – This Opportunity Can’t Be Missed

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Resort Brokers Australia has been appointed exclusively to sell a rare off the plan townhouse management rights developed by Unison Projects. Preston Point Residences is located in the northern suburb of Albany Creek situated 14km North from the heart of the Brisbane CBD. The area is renowned for it’s village atmosphere.

›› ›› ›› ››

The opportunity consists of 74 architecturally designed residences. From the moment you step into Preston Point Residences you will be met with the highest quality of workmanship and finishes throughout.

Offering warm filtered light with open space provides enriched interaction between indoor and outdoor spaces. This resort style oasis offers a 16m swimming pool, wrap around sundeck, BBQ and outdoor open firepit area. Tenants and owner occupiers will love living just minutes away from quality schools, cafes, restaurants, entertainment and leisure options.

With a projected net profit of $185,239, and stage one due for completion towards the end of Q3, 2017, now is the time to contact our agents if this project is of interest to you.

Brand new management rights Brand new 25 year agreements Realistic projected letting pool income Great lifestyle business’s to suit experienced operators ›› Rare townhouse opportunity in upcoming Albany Creek ›› Renowned developer of quality projects

Financials Nett Profit: $169,861 Unit price: $572,500 Asking Price: $1,302,903

Exclusive

Brent Staker

Nathan Eades

M. +61 410 344 344 E. brentstaker@resortbrokers.com.au

M. +61 448 339 920 E. nathaneades@resortbrokers.com.au

Broker

Broker

INFORMER MARCH 2017 |

Brisbane resortbrokers.com.au

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CAPRI & COMO One Of The Largest Management Rights In Brisbane Run Under One Body Corporate

Presented exclusively is one of the last remaining large-scale management rights to be offered off-the-plan in the current development cycle. Capri & Como, the final instalment in a landmark masterplan, features 406 apartments under one body corporate, one of the largest single residential schemes in Brisbane.

This duo of towers will be delivered in two stages, allowing for staggered set-up. You will secure a brand new 25-year agreement with a substantial body corporate salary in the order of $426,300 + GST (approx.) A robust projected nett profit has been independently verified by specialist industry accountants, Holmans.

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Rising above a stunning lagoon swimming pool, Capri & Como form an oasis of stylish inner-city living less than 1.5km from Brisbane CBD. Superbly positioned to enjoy city views, they are within walking distance of buzzing James Street and Gasworks Plaza shopping and dining destinations – major rental drawcards to ensure strong occupancy in a competitive market.

The single body corporate offers rare and distinct advantages in a community of such scale.

The streamlined operation, including resort-style pool facilities maintained at the expense of the body corporate, provides efficiencies when spread across the substantial unit inventory.

PROJECTED NET PROFIT: $919,637 Asking Price: $4,855,683

• Brand new 25 year term • Substantial net income • Resort style facilities • High investor profile • Large body corp salary – $426,300 + GST

KEY FEATURES

Construction is underway by tier-one company Hutchinsons Builders. Act now. This prime opportunity simply cannot be repeated in the foreseeable future, let alone in one of Brisbane’s most sought-after lifestyle precincts.

• Brand new 25 year term • Substantial net income • Resort style facilities • High investor profile • Large body corp salary – $426,300 + GST

CONTACT US

Tim Crooks

Gareth Closter

M. 0423 182 766 E. timcrooks@resortbrokers.com.au

M. 0423 182 766 E. garethcloster@resortbrokers.com.au

National Off The Plan Specialist

Broker

INFORMER MARCH 2017 |

resortbrokers.com.au

39

Editorial

M

Millennials want it AUTHENTIC, SOCIAL & ON-DEMAND Moxy, TRYP, Vibe, Aloft, JO&JOE. All short, sharp, catchy names that somehow exude the spirit of the guests they’ve been designed to attract. These are just some among a new breed of hotels targeted to cater for a new breed of traveller.

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M In this edition, instead of profiling a single accommodation operator, we visit the a new wave of hotel brands designed to satisfy the ‘millennial mindset’.

illennials, we are told, are shaping the future of the hospitality industry. Defined as born from 1980 to 2000, in other words reaching young adulthood this century, they are predicted to make up over half of all hotel guests by 2020. No wonder the industry is adapting fast to meet their needs.

So, what do they need? They are tech savvy and digitally demanding.

They care less about private space and more about communal engagement.

When they want something, they want it quick and easy. But Millennials also crave authentic local experiences.

They appreciate great design and, of course, expect good value.

Not a lot different to what most of us want, is it? That’s the thing. While some have warned accommodation designed specifically for Millennials risks alienating traditional markets, others say the ‘Millennial’ consumer group isn’t necessarily defined by age.

Travel writer Julietta Jameson argues ‘Millennial’ is more of a mindset than an age cohort. “A large group of 40 to 60-somethings, as tech and trend-savvy as their kids and grandkids and with similar interests, priorities,

spending habits (and social media accounts) are equally as important.”

There are “born-Millennials” and “oldie adaptors”, she says, describing the most valuable customer group as a fusion of the two – the “ageless Millennials”. Whatever descriptor you use, the accommodation sector is putting them front and centre. Few major operators now aren’t actively pursuing this powerful category, resulting in a raft of new brands and property designs.

The first thing you notice when you arrive at these new-look hotels is the lobby. It is a lively, communal space designed for interaction reception area, bars and restaurants are often merged to create a lively and connected ‘living’ space.

And, at the same time as public areas are expanding, private areas are shrinking. The Millennial-minded don’t want to sit in their room; they want to be out amongst the action.

So it was interesting to hear an observation by Bill Barnett of Thailandbased C9 Hotelworks, at a roundtable discussion moderated by Hotel News Now. Barnett suggested this latest trend is nothing new.

“If you look back 200 years, 100

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Editorial

years ago, basically a pub was a place to meet. It was a place to have meals or anything else, and they have to have rooms. So we can say we’re innovating and changing, but we’re back to full circle.”

In a way that’s true. Because it’s not enough to just make your rooms compact and your public areas generous. It’s also important that the property be part of the wider community, something pubs have done for centuries.

Where modern accommodation houses have for decades been ‘guest only’ spaces, these new lodgings need to mix it with the surrounding neighbourhood. Today’s guests want to try local fare, meet the locals, enjoy local experiences. Hotels now need to draw the community in.

Guest services also need to be redefined to cater for the Millennial customer, beginning with smart technology. Guests now want to be able to communicate, book and checkin using their mobile devices. It’s all about digital convenience. They might even customise their own stay by preselecting, then let themselves in using their phone.

Of course, free and unlimited WiFi is top of the Millennials’ no-brainer list. Who needs a business centre when you carry your office in your pocket? They are also the ‘on-demand generation’, leading some hotels to alter their approach to food service.

‘Grab ‘n’ go’ stations are a modern-day alternative to room service and dining rooms.

So these are some of the common approaches. But every hotel group, while covering off the Millennial must-haves, also has to find an edge – something unique that gives their new brand its signature.

That’s where the importance of providing an authentic, engaging and enriching local experience comes in.

Something memorable. More to the point, something that is social media share-worthy, gives guests Instagram bragging rights.

In Australia, the Art Series Hotel Group (Informer, Dec 2014) was probably one of the first to put enrichment at the core of a hotel brand. For founder William Deague, of Melbourne’s Deague development dynasty, the mission was to transcend the traditional with a hotel experience 42

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“a little extraordinary.”

Each hotel is named for its artistic muse. The group launched in 2009 with the daring The Cullen (Adam Cullen), an instant international hit.

Then followed projects inspired by John Olsen, David Larwill and Mark Schaller.

The latter, The Schaller Studio in Bendigo, signaled a perhaps more deliberate ‘Millennial’ evolution of the brand, trimming rooms, adding big edgy communal spaces and reaching out more than ever to the surrounding community.

Moxy Hotels by Marriott International debuted in 2014 with Moxy Milan. Though budget-driven, it really nailed the Millennial profile – small rooms with a luxe bed and big TV, in-room coffee-making replaced by fresh brews downstairs, top WiFi, and loads of social spaces, games, work stations, sofas and a full-service bar.

Moxy has also claimed the ‘fun’ space. “Fun-hunters create the action; our living rooms are essentially their playground,” they say.

Encouraging that action are programmes for music lovers (jam

Big Hotel in Singapore

They care less about private space and more about communal engagement. When they want something, they want it quick and easy.

But Millennials also crave authentic local experiences. They appreciate great design and, of course, expect good value.

Moxy Hotel

sessions, do-it-yourself DJ console), health nuts (training, yoga, even an acupuncture ‘happy hour’!), mystics (tarot and crystal ball readings), cinema and art-lovers, gamers and, of course, drinkers (cocktail on arrival).

We’re yet to see a Moxy in Australia, but we do have our first TRYP by Wyndham in Brisbane’s Fortitude Valley. This 65-room boutique hotel has made street art its signature, decorated by acclaimed artists Beastman, Rone, Numskull and Fintan Magee.

We also have Vibe, TFE Hotels’ brand promising “a place to relax, recharge and reconnect.” They promote a strong local connection – walls adorned in locally-inspired art, mini-bars bursting with local delights, and ‘Vibe Hosts’ who help guests discover the local area.

Late last year, AccorHotels’ announced a new brand, JO&JOE, described as a “vibrant living space built on the values of sharing, experiencing and spontaneity.” They plan to open 50 by 2020, starting in Paris and Bordeaux in 2018, followed

by Warsaw, Budapest, Rio and Sao

Paulo. Their mission is to bring together ‘Townsters’ (people living nearby) and ‘Tripsters’ (people in town to explore).

Fraser Hospitality’s funky Capri brand was launched in the Brisbane CBD in 2015. “Urban inspired”, “high tech” and “intuitive” are the words they use to describe their Millenialsmeets-business brand, with a design

by Ministry of Design, vertical gardens, art installations and a restaurant menu by ‘Paleo Pete’ Evans.

Aloft Hotels by Marriott will debut in Perth next year, followed

by Melbourne and Adelaide in 2019. The formula is similar – clean, contemporary architecture, vibrant social spaces, programming centred on music, art and design, top shelf technology and free WiFi. Meanwhile, a group very familiar to Australians, Quest Apartment Hotels, is preparing to launch its own new brand to reach the Millennial mindset. While promising to deliver a ‘big personality’ brand, Quest says it won’t simply follow the familiar formula.

Their approach will be rooted in

a DNA that it has always had at its core - ‘extended stay for corporate travellers’. While forecasts say 50% of all hotel guests by 2020 will be Millennials, Quest is attuned to the fact 70% of all corporate travellers will fit that profile.

So it’s from a customer-needs point of view they are tackling brand development, reasoning cool gadgets, technology and décor quickly date.

“We are coming at it more from a service innovation perspective,” said CEO Zed Sanjana. “Then it becomes something flexible than can adapt and change over time.”

Of course they’ll still please Millennials with communal spaces that encourage interaction and great design and technology. But they know their customers still appreciate some extra space in their rooms, for which they are prepared to sacrifice some amenity.

So Quests new brand will “aim at the gap between design and experience-driven hotels and ‘select service’ hotels.” Watch this space.

Quest has not signaled a launch date, but hopes it will be this year. END INFORMER MARCH 2017 |

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› Management Rights REF: MR004640

Golden Beach Management Rights & Manager’s Residence – Receiver Sale Under instructions from Ian Currie of BRI Ferrier, Resort Brokers Australia have been appointed as exclusive sales agents for the sale of the management rights to Fairseas Apartments Golden Beach and manager’s residence (Lot 5 on BUP105989, Title Reference 50176556). This complex is a mid-rise facility located at Golden Beach on Queensland’s Sunshine Coast.

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›› Good location opposite popular waterway ›› Neat and well-presented complex ›› 3 bedroom, 2 bathroom manager’s residence ›› Opportunity to join the tourism industry

The manager’s residence, located on the first floor, is a three bedroom, two bathroom apartment and has a pleasant outlook across the park to Pumicestone Passage. There are currently 7 units in the short term letting pool and a total of 15 units in the complex.

The management rights and manager’s residence are being offered under an expressions of interest campaign. An information memorandum and supporting documentation is available by contacting the listing agents.

Inspections are by appointment only.

Financials Price: On Application

Exclusive

Glenn Millar

Tyler Millar

M. +61 412 277 804 E. glennmillar@resortbrokers.com.au

M. +61 411 271 761 E. tylermillar@resortbrokers.com.au

Broker

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Broker

Sunshine Coast

› Management Rights REF: MR004617

Spectacular Northern NSW Beach Location, Highly Profitable And Magnificent Complex Grandview Apartments, as the name suggests, offers unrestricted ocean, river and hinterland mountain views, all set in tropical gardens. This extremely well maintained complex and profitable business are just the start - the manager’s two bed, two bath, upper level residence is private and stunning.

Serenity surrounds this peaceful and secluded lifestyle location, while being exceptionally close to patrolled beaches and downtown Ballina’s thriving CBD facilities, which are a major attraction to guests.

Self-contained apartments include a mix of two and three bedroom plus a luxurious rooftop penthouse with massive deck.

The city is booming and fast becoming a lifestyle destination for affordable beach holidays with its unspoilt patrolled and netted surf beaches, while only a short drive to Lennox Head or Byron Bay. At Grandview, you are just ten minutes to Ballina Byron Airport and an easy 45 minute drive to the Gold Coast International Airport.

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›› Full 10 year agreement from settlement ›› Under an hour's drive to Coolangatta Airport ›› Fully repainted and new website launched 2016 ›› Spacious managers residence overlooking ocean and mountains ›› 70% units refurbished in past 12 months ›› Various additional income streams identified ›› Growth opportunities by securing additional units, and hiring out function / meeting room

Financials Nett Profit: $328,037 Price: $2,190,000

Exclusive

Ian Dore Broker

M. +61 412 752 238 E. iandore@resortbrokers.com.au

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› Management Rights REF:OTP004647

Iconic South Brisbane Building – Botanica

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Resort Brokers Australia is delighted to offer exclusively to the market, a building of unsurpassed design and prestige in South Brisbane – Botanica. This stunning tower incorporates 179 residential apartments soaring over 20 levels with Queensland’s largest residential green wall. A contemporary sanctuary, the rooftop is an exclusive area for residents and guests. An idyllic spot to work out, cool off in the pool on a sunny day, and relax in the lounge area, all the while enjoying spectacular views of the city and beyond.

›› Long 24 year caretaking and letting agreements

Step inside the stunningly designed entry foyer that you will be proud to call home. Botanica features a double height lobby that makes use of timber, stone and earth tones. In addition, each architecturally designed residence provides a realm of open space created by 2.7 meter high ceilings, European appliances and floor to ceiling glass.

Located on the ground floor of this spectacular building is celebrity chef Ben O’Donoghue’s renowned Billykart restaurant. This is just one of the many bars, cafés and restaurants within walking distance.

›› Only one body corporate offering a generous body corporate salary ›› Net profit of $850,000. Verified by an independent specialists’ industry ›› This stunning tower incorporates 179 residential apartments and exclusive rooftop swimming pool ›› Amazing location that can service Southbank , West End and South Brisbane ›› Must buy unit. You can live in, rent, or sell to increase ROI

Financials Nett Profit: $850,502 Unit Price: $669,000 expressions of interest

Exclusive

Jessica Wilkie

Tim Crooks

M. +61 401 003 023 E. jessicawilkie@resortbrokers.com.au

M. +61 422 208 450 E. timcrooks@resortbrokers.com.au

Broker

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Off the Plan Specialist

South Brisbane

› Management Rights REF: XXXXXXX

Easily Managed Business Only In Brisbane’s Inner West

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Resort Brokers is excited to offer to the market Indooroopilly Rentals, a business only management rights opportunity with no real estate to buy. Located in the epicentre of the action in Indooroopilly, it incorporates the letting and caretaking of four complexes; Indro 279, Euro Apartments, Boston on Belgrave and Central.

›› No real estate to buy

All properties are in close proximity and have no set office hours, making this business a dream to run. It is ideal for an experienced operator looking to add scale to their existing portfolio.

›› No set office hours ›› Popular inner western suburbs location ›› Easy to run complexes ›› All buildings in close proximity to each other ›› Recently verified net profit of $264,521 ›› 47 of 112 in the pool ›› 8 external units also under management

The suburb is popular with busy professionals and a large number of students attending the nearby University of Queensland campus in adjacent St Lucia. The complexes are within walking distance of Westfield’s Indooroopilly Shopping Centre and also train and bus stations.

Indooroopilly Rentals has strong accountant verified financials, recently topped-up long agreements in place and is ready for the astute investor and savvy operator to take it to the next level.

Financials Nett Profit: $264,521 Price: $1,485,000

Exclusive

Nathan Eades Broker

M. +61 448 339 920 E. nathaneades@resortbrokers.com.au

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› Freehold REF: FH004559

Central Coast Luxury Bed & Breakfast

2

This luxurious central coast B&B offers an excellent lifestyle business being only five minutes’ walk from the beautiful Bateau Bay and Shelley Beach. Breeze Bed & Breakfast is simple to run and perfectly positioned to enjoy coastal living.

This boutique property is close to reserves and parklands, lookouts and pristine beaches.

›› Beautifully presented and maintained

With one deluxe king suite and one deluxe queen suite, these beautifully appointed guest rooms are spacious and share a fully equipped kitchen. Each has a tastefully furnished balcony to take in the views and fresh coastal breezes. The property has established and well maintained gardens, with a separate entrance for each room. A stunning 3 bedroom residence is yours to call home, with open plan living and a private backyard to enjoy and entertain in.

Breeze B&B offers its residents a spectacular way of life, close to a beautiful and popular beachside village with many fine restaurants and a local bowls club on the Central Coast of New South Wales.

Units

›› 1.5 hours to Sydney CBD ›› Opportunity to increase occupancy and maximise income – currently run part time ›› Spacious, modern residence ›› Easy walk to stunning beaches ›› Property is simple to run ›› Incredible location on the Central Coast ›› Close to reserves and parklands

Financials Nett Profit: ON REQUEST Price: $2,250,000

Exclusive

Shane Wynhoven Broker

M. +61 424 174 592 E. shanewynhoven@resortbrokers.com.au 48

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New South Wales

› Management Rights REF:MR004649

Rare Fiji Management Rights Opportunity – Unrivalled Lifestyle And Capital Gain An exciting lifestyle and business opportunity awaits you in the pacific paradise of Fiji. Exclusive Naisoso Island Resort Villas is situated in an unrivalled location, only minutes from Nadi Airport. Boating, fishing, surfing, diving and sand... Fiji encapsulates the perfect outdoor lifestyle complemented by the infamous laid back daily life.

Naisoso Island is a five star luxury residential resort development featuring 122 lots of land including beachfront, riverfront and lifestyle blocks. At time of writing 18 houses are completed and another 9 in various stages of development. The management offer both permanent and holiday lettings to owners and guests. The award winning villas are luxury contemporary design at its best. For the majority of investors who are from Australia and New Zealand it will be a home away from home.

The business is in its infancy with a profit of $200,000 and only 15% of all villas have been completed. As the development matures so will management profits. Included in the management rights are the exclusive rights to the island’s residential real estate resales.

All investors enjoy the benefits of clear freehold title and banks like ANZ and Westpac finance both land and villas. The management rights have approximately 19 years to run with an attractive body corporate salary.

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›› $200,000 profit - only 15% of villas completed ›› 16 luxury homes are completed right now, another 7 will be completed in the coming months ›› Choose from a luxury completed villa or build your own ›› Freehold title to all property ›› Prime location 5 minutes to international airport ›› Fishing, surfing, boating and lots more near your doorstep ›› Exclusive real estate sales license for the island ›› A direct connection to the mainland via bridge

Financials Nett Profit: $200,000 Expressions of interest

Exclusive

Steve Dawson Broker

M. +61 408 550 441 E. steve@abs-info.com.au

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MAKING YOUR

MOTEL A WINNER

Best Western Quirindi RSL Motel

It takes a real expert to deliver a brand new motel that makes Australia’s Top 10 list in its first year. But what sort of industry whizz can do that with a property built in a remote NSW town somewhere between Murrurundi and Currabubula?

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ccommodation industry consultant, Grant Batty*, did just that. The Best Western Quirindi RSL Motel he nursed from design, construction and fit-out to its March 2016 opening, has just been added to the exclusive Star Ratings 2017 Gold Accommodation List.

The brand new 4.5-star property was listed No.2 in NSW for ‘Best Overall Guest Experience’ and came in at No.10 at the national level with a rating score of 9.5/10 on the list of Australia’s ‘best independently rated accommodation voted by Australian travellers.’

Batty has spent a long career in the industry, including operating his own Sunshine Coast motel, a successful stint in motel broking, and five years as brand development manager for Best Western (NZ, Fiji, Qld and Northern NSW).

Then came a move to remote Wallabadah, about 70km south-west of Tamworth, to be close to family.

So it must have been pure fate when Batty’s path crossed socially with nearby Quirindi RSL Club chairman, Doug Hawkins.

Hearing his new acquaintance was in the accommodation game, Hawkins

explained the club’s long and lessthan-successful efforts to establish a motel on their land.

“He asked me to take a look at some plans they’d gained development approval for,” Batty explains. “Long story short, I ended up taking on the role of project manager to deliver the motel from beginning to end, starting with design revisions and gaining a new DA.” Batty dealt with the architects and engineers, called construction tenders and selected Tamworth-based builder PJ Truman Constructions, who he said “was great to work with.” Batty oversaw everything from room design, décor and FF&E selection to staff recruitment.

And his recommendation to align the property with Best Western also proved a perfect fit.

The brand new 4.5-star Best Western Quirindi RSL boasts 20 magnificent king suites offering outstanding comfort, free WiFi, 50” smart TVs and huge bathrooms. Guests access the licensed restaurant, café and conference facilities in the Quirindi RSL Club just 50 metres from the motel.

Resort Brokers managing director,

Ian Crooks, says he was “blown away” by the quality of the property. “It is just magnificent and I’m not surprised it has made the Star Ratings Gold List to be number two in New South Wales,” he said.

“Anyone considering refurbishing a motel or developing a new property really should have a look at this first.

Grant Batty has absolutely nailed it with this property.”

Doug Hawkins says Batty’s expertise has been invaluable.

“Star Ratings’ recognition placing our motel among the best in the country is wonderful. It underscores the motel’s achievement of 65 per cent occupancy since opening, which is outstanding for the first year of a regional property,” he said.

“The motel guests have also had a very positive impact on the RSL Club’s trading.”

More of Grant Batty’s motel mastery can be seen in the luxury Best Western Plus Lake Kawana Hotel on Queensland’s Sunshine Coast. The 81-room 4.5-star property provides accommodation for corporate and leisure guests in the region’s emerging medical precinct. END

* This name will ring loud bells for any Rugby fans of a certain age. Yes, it is the same Grant Batty of New Zealand All Blacks fame. The legendary winger and top try scorer played 55 games for NZ from 1972 to 1977, including 15 internationals.

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› Management Rights

REF:MR004634

Brand New Complex In North Brisbane Growth Area

59

58

3

2

Units

Letting Pool

Bed

Bath

Great opportunity to purchase the management rights to a high quality townhouse complex that only opened in late 2016. With most units now secured in the letting pool and fully tenanted, and only a few final units to settle in the next month or two, this is a brand new complex that comes as a fully established business!

›› Almost new complex, established business ›› 25 year caretaking and letting agreements ›› 3 bedroom, 2 bathroom, 2 car park manager’s residence ›› Scope to add additional income stream and grow net profit

This 59 x 3 bedroom townhouse complex is situated in the upand-coming suburb of Dakabin, destined to follow the success of neighbouring suburbs North Lakes and Mango Hill. With a high quality and great value manager’s residence and plenty of scope to grow the bottom line, this is one not to miss!

Financials Nett Profit: $166,000 Price: $1,175,000

Exclusive

Alex Cook Broker

M. +61 467 600 610 E. alexcook@resortbrokers.com.au

Brisbane

› Management Rights

REF: MRB004630

Live Offsite In This Low Maintenance Southside Business

50

36

Units

Letting Pool Year Tenure

A wonderful opportunity presents itself in one of Brisbane’s Southside suburbs. This low maintenance and easy to run management rights is located in the popular suburb of Kuraby.

There is no requirement to live onsite and the tenure of the agreements is solid.

›› No requirement to live onsite ›› Long term agreement 17.5 years as of February 2017 ›› Spacious/modern living accommodation with large five bedroom family home and office on title ›› Unique Southside opportunity offering a $204,631 net income (inc $67,067 body corporate salary)

This management rights would suit a family due to the large, five bedroom, spacious and modern detached two storey manager’s residence. However, for those who wish to live off-site the manager’s home can be rented out for $650 per week. There is an opportunity to grow income with a hands-on operator who can conduct or arrange repairs and maintenance.

17

5

3

Bed

Bath

Financials Nett Profit: $204,631 Price: $1,659,000

Exclusive

Jessiaca Wilkie

Jane Fang

M. +61 401 003 023 E. jessicawilkie@resortbrokers.com.au

M. +61 402 399 613 E. janefang@resortbrokers.com.au

Broker

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Chinese liaison Broker

South Brisbane

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53

› Motel Lease REF: LH004592

Great Little Motel in the Heart of Brisbane’s Motel Hotspot

12

25

3

2.5

Rooms

Year Lease

Bed

Bath

The Raceways Motel has a strong net profit, trading history and client base. Offered for sale is the leasehold of this 12 room motel that runs at high occupancy and quite possibly the lowest ratio of OTA bookings in Australia! The repeat business and ease of running this motel is astonishing. The current owners are looking to retire and are motivated to sell to the right operators.

›› Opportunity for further growth

With a casual cleaner in place the labour requirements of this motel are low and there is upside on offer for new operators wanting to make a difference. This property would be perfect for an experienced management couple looking for their first ownership venture or seasoned moteliers looking to downsize.

›› Experienced casual cleaner in place ›› Huge three bedroom accommodation onsite for a family ›› Recently extended lease to 25 years ›› Net profit $147,286.16 as verified on previous contract by accountant

There is no restaurant onsite, a fantastic pool, bbq area and half tennis court. Other offerings for guests include an onsite tour desk and Wi-Fi throughout the complex.

Financials Nett Profit: $147,286 Price: $525,000 Exclusive

Nathan Eades Broker

M. +61 448 339 920 E. nathaneades@resortbrokers.com.au 54

resortbrokers.com.au | INFORMER MARCH 2017

Brisbane

› Management Rights REF: MR004645

Rare 4 Star Luxury Holiday Complex

16

16

Units

Letting Pool Year Tenure

An amazing opportunity to acquire a high end tourism property in the tightly held southern NSW coastal town of Kiama. The business consists of 16 x one, two and three bedroom luxury units. Each unit is equipped with modern appliances and furnishings to provide a homely feel on entry. The apartment complex boasts a beautiful swimming pool and BBQ area set amidst landscaped gardens.

›› Award winning AAA 4 star rated

The current owner has the complex running like a well-oiled machine. A great feature is the ease of operation for the incoming manager, with a fresh, up to date website and booking system, as well as minimal grounds maintenance required.

The manager’s residence is a spacious, one-bedroom apartment, located upstairs with internal stair access from ground floor reception. With the ease of operation, the complex would suit a range of buyers, including new entrants, a couple looking for semiretirement with an envious coastal lifestyle, a sole operator and even a family looking for a stable second income with the ability to reside on or off-site. Less than 2 hrs from Sydney, Kiama is one of the most popular well located seaside tourist towns on the East Coast of Australia. Why don’t you make it your new home!!

9

1

1

Bed

Bath

›› Located in the retail/commercial heart of Kiama, walk to all attractions ›› 16 x one, two and three luxury furnished, serviced apartments ›› Less than 2hrs from Sydney’s 4.84 million population ›› Large, spacious 1 bedroom owner/manager’s residence ›› Ideal transition to retirement lifestyle business ›› Award winning 98% customer satisfaction rating ›› 10 year agreements with solid $43,076 caretaking salary

Financials Nett Profit: $127,773 Price: $895,000

Exclusive

Russell Rogers Broker

M. +61 416 166 909 E. russellrogers@resortbrokers.com.au

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› Management Rights REF:MRB004646

Modern New Permanent With OTP Pricing

70

67

Units

Letting Pool Year Tenure

Secure this prime, large-scale management rights now at an off-the-plan multiplier, and produce income as soon as you settle.

Resort Brokers Australia is excited to present this outstanding management rights opportunity in one of NT’s growth corridors.

With a BC salary over $127k, a multiplier of 3.5 times and a property just under one year old, this is exceptional value!

›› Long 25 year agreements

One27 Flynn is part of the newest apartment project by Zest Projects. Zest Projects specialize in the development of medium sized communities in locations around Queensland and the Northern Territory. Developing since 2002, the current focus is sustainable development, delivering housing choices that are both affordable and provide high level amenities to occupants who are predominantly young home buyers and tenants.

One27 Flynn is an award winning residential and commercial precinct that meets all lifestyle and convenience needs. It offers a range of 1, 2 and 3 bedroom units, with complex pool and a modern appeal. Located just 3.5km from Palmerston CBD and in close proximity to schools, aged care facilities and parks, One27 Flynn is the perfect place for investors and tenants alike.

24

›› No requirement to live on-site or own a lot ›› Modern contemporary design with commercial shops, café’s and tavern ›› Strong BC salary ›› Supported by NRAS units and strong 10 year terms ›› Growth corridor for NT

Financials Nett Profit: $315,000 Price: $1,095,000

Exclusive

Shane Mullins Broker

M. +61 447 185 001 E. shanemullins@resortbrokers.com.au 56

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North Queensland

› Management Rights REF: MR004639

Large Beachfront Permanent at the Sunshine Coast

125

70

Units

Letting Pool Year Tenure

ABSOLUTE BEACH FRONTAGE - Resort Brokers has been appointed as exclusive marketing agents for the management rights and associated managers residence of Marcoola Beach Resort located on Queensland’s Sunshine Coast.

›› Consistent year on year growth

This complex has 125 apartments in the facility with strong potential to increase the current letting pool of 70 apartments that are in the manager’s letting pool.

This complex has undergone numerous improvements in the past few years due to the manager’s foresight and a proactive committee whose aim is to keep the complex up to high standards.

Accommodation options range from one, two and three bedroom rooftop apartments, boasting spectacular 180 degree views of the ocean and coastline. All other apartments face onto Marcoola Beach Resorts beautifully landscaped gardens.

The manager’s lot is a recently refurbished three bedroom, two bathroom ground floor apartment with the reception/back office on title.

21

3

2

Bed

Bath

›› 55 Permanent let units and 17 short stay let units ›› Long accommodation module agreements ›› Experienced staff to assist with transmission ›› Potential to gain units with outside agents ›› No fixed office hours ›› No requirement to reside on site, however must purchase the unit

Financials Nett Profit: $347,000 Price: $2,149,700

Exclusive

Glenn Millar

Tyler Millar

M. +61 412 277 804 E. glennmillar@resortbrokers.com.au

M. +61 411 271 761 E. tylermillar@resortbrokers.com.au

Broker

Broker

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› Management Rights REF:OTP004644

The Best Of The West! OTP Complex In Indooroopilly Westside Indooroopilly is destined to be one of the jewels in the Brisbane management rights market. An off the plan development with all of the features residents could wish for.

Elevated on the higher side of Indooroopilly, with the CBD only 6km away, picturesque city views are afforded to the upper levels of the building.

The manager’s residence includes a third bedroom that has been converted to an office on title with separate access from the main foyer.

The ground floor garden residences are private and shaded, with spacious interiors designed to create a comfortable and welcoming atmosphere. Tower residences comprise light, open spaces with large usable balcony areas that offer enviable views.

The location also allows for views overlooking beautiful Mt. Coot-tha, the Brisbane River, Indooroopilly Golf Course and beyond.

Boasting a nett profit of $316,823 and a strong anticipated investor profile, be the first to inspect as demand will be high.

119

83*

Units

25

2*

2

Letting Pool Year Lease

Bed

Bath

*Projected

*Plus office on title

›› High set management rights with amazing views ›› Brand new 25 year agreement ›› Strong projected letting pool income ›› All modern features to attract the very best residents ›› Spacious managers residence with office ›› Hight projected net profit of $316,823

Financials Nett Profit: $316,823 Business Price: $1,346,985 Unit Price: $606,500 Price: $1,953,485

Exclusive

Nathan Eades Broker

M. +61 448 339 920 E. nathaneades@resortbrokers.com.au 58

resortbrokers.com.au | INFORMER MARCH 2017

Brisbane

› Freehold REF: FH004582

Murray River Picturesque View

20

23

Rooms

Car Parks

Opposite the banks of the Murray River in heart of Gol Gol, 5 minutes from Mildura, sits the Mildura Riverview Motel.

›› Bed and breakfast only

The refurbishment of 20 rooms has been completed with modern decor and facilities.

›› Outside pool with river views

The property boasts a two bedroom managers residence as well as an outdoor pool with specular views of the Murray River.

The region is known as a food and wine destination. The prime location is within walking distance to the award winning Gol Gol Hotel. Just take a stroll along the grand Murray River, famous for its houseboats and paddle boats.

›› All rooms fully refurbished and kept up to date ›› Loyal clientele with repeat business ›› Growth up 30% from previous year and maintained ›› Easy to manage and operate – very low maintenance ›› Large tourism industry with many events throughout the calendar year

This property is perfect for an owner/operator looking to combine a solid income with a great lifestyle.

Financials Nett Profit: $134,881 Price: $1,225,000 (all offers considered) Exclusive

Michelle Matthews Broker

M. +61 400 474 861 E. michellematthews@resortbrokers.com.au

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Editorial

More Management Rights the simple answer to airbnb

by COL MYERS

S

ydney Morning Herald columnist Jimmy Thompson wrote an interesting article in his Flat Chat column recently headed “Guerrilla warfare warning over holiday lets in apartments”. The article noted that the NSW Government is considering a proposal that would make holiday letting exempt from zoning restrictions.

Under current strata laws, an Owners Corporation can only legally ban short stay letting if its building is zoned residential. Under the proposal before Government, apartments (as well as stand-alone houses) in residential zones will be exempted.

Jimmy noted that “hundreds of apartment blocks” are already blocking holiday letting through dodgy

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by laws and other tactics such as cancelling electronic access keys to doors and lifts (for “security reasons”) and locking guests out of swimming pools, gyms and car parks. He even quoted one long-term chairwoman as saying that putting super-glue into locks “works faster and more effectively than any laws or by laws!”.

As this battle rages on, members of Strata Committees are wasting considerable time and money sitting in lawyers’ offices or NCAT trying to find a legal means of stopping short-term lettings in their residential buildings.

As Jimmy states, strata committees (who are untrained volunteers) are endeavouring to police the practice by taking photos, noting dates, keeping financial records, issuing warnings and litigating. This is unreasonable and the

sense of community associated with living in strata is being destroyed.

Management Rights – A Ready Made Solution!

Online companies such as Airbnb and Stayz are game changers and are causing all sorts of concern in the world of strata. A simple solution to the problem is to make sure these large residential buildings have strong onsite management.

Onsite building managers are not only responsible for performing or supervising the day-to-day maintenance of the building, they are also usually granted exclusivity to be the only party capable of

operating an onsite letting business.

However, the conduct of this business is regulated by the by laws and the Letting Agreement between the Owners Corporation and the onsite manager. In other words, the manager is directly answerable to the Owners Corporation for its actions. By contrast, the Owners Corporation has next to no control over owners and tenants operating under the Airbnb or Stayz model.

An onsite building manager knows exactly what is going on in the building. They know what units are being short-term let via Airbnb or Stayz. They can report these issues to the committee and be the interface between the tenants and the Owners Corporation. It should not be left to neighbours to have to spy on neighbours.

Online companies such as Airbnb and Stayz are game changers and are causing all sorts of concern in the world of strata.

A simple solution to the problem is to make sure these large residential buildings have strong onsite management.

Developers need to Step Up Developers need to start seriously thinking about life in their buildings after they are gone. Instead of settling their sales and hoping that the strata legislation will look after the ongoing management of the buildings, developers need to be spending more time thinking about long-term governance and harmony issues in their buildings. The developer is THE person who sets the tone of the building as they determine the bylaws and how the building is managed once the developer has washed their hands of the development.

They need to set up structures that make the life of owners easier and the incorporation of fair, long-term caretaking and letting agreements, supplemented by appropriate bylaws, is a good start. END

from our

Jane Fang

ASIA DESK Demand from Chinese buyers for Australian properties and businesses has surged in recent years and there appears to be little likelihood of it slowing. To cater for that high level of interest, Resort Brokers Australia has expanded our ‘Asia Desk’ capacity.

“Not only are we handling strong enquiry from Chinese nationals, but our business dealings are increasing with other strong sources of investment from Asia, including Singapore, Hong Kong and Taiwan,” said managing director, Ian Crooks.

“So we are delighted to welcome aboard Jane Fang in a vital liaison role.

Jane has already been invaluable in talks and negotiations with a number of key investors and intending buyers.”

Introducing Jane Fang Chinese Liaison, Hotels, Motels & Management Rights Having made the transition from China to Australia herself a number of years ago, successfully adapting in both her personal and business life, Jane offers invaluable assistance and INFORMER MARCH 2017 |

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Editorial

insights to those seeking rewarding investments in Australia.

With qualifications and a background in chemical engineering, Jane’s own move here in early 1990 involved a major career shift from the scientific field to sales and business ownership. Initially working in tourism-related retail, she then launched and ran her business as a furniture importer and wholesaler.

After selling that business in 2012, Jane has combined volunteer language teaching and community work with business studies to broaden her skill set. She was also often asked to provide assistance to overseas buyers of Australian businesses.

This has led to her appointment as Chinese Liaison Broker with Resort Brokers Australia. Jane’s business experience, strong understanding of local business culture and operations, and her direct knowledge of Chinese practices and language ideally equip her to assist Asian buyers of successful management rights and motel businesses in Australia.

“I know the challenges involved because I’ve done it myself, and now have many years of valuable experience in Australia. I love helping others to choose a suitable business for purchase in Australia,” Jane said. END

Image is Everything

by Nick Buick

When marketing property, image matters... The importance of photography cannot be emphasized enough – it’s a job that ought to be left to a professional photographer if a professional outcome is to be achieved.

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A

long time ago, before iPhones had even been invented, I worked in advertising at a leading commercial photographic studio.

During the years I spent there, I learned a few lessons about advertising… one such lesson was imparted on me by a sagely old advertising photographer: owning a camera doesn’t make you a photographer – it makes you a camera owner.

The importance of photography cannot be emphasized enough – it’s a job that ought to be left to a professional photographer if a professional outcome is to be achieved. Just because your iPhone has a camera built in, doesn’t mean you should use it to market your property. I’ve put together the following comparisons to illustrate this point to onsite managers around the country who are still trying to do their own photography.

The first thing you see in the amateur photo is the toilet! Typically, this is located in the middle of the room, so on a smart phone that can’t capture the entire room, it ends up being the only thing you see! The other ‘technique’ I see people use in iphone photography, is holding the phone in portrait mode. Houses are landscapes, real estate websites will only accept listings in landscape. If photos are in portrait they will either display rotated sideways (and look ridiculous), appear fattened and distorted, or be cropped to portrait showing even less of the room and only whatever is in the middle – which is the toilet itself in most cases. You’ve seen one toilet, you’ve seen them all – it shouldn’t be the starring subject of a marketing campaign!

Bathrooms and kitchens are the rooms tenants and buyers care about the most, making them look good is where a skilled photographer pays

dividends, literally.

There are currently 1800 properties available for rent in Teneriffe right now (that’s just available for rent, not the total rental market!) If you were a prospective tenant scrolling through 1800 listings, which one would you scroll past and which one would you click into? The answer, is the professionally presented listing.

The graph below, relates to the performance of the listing I ran recently in Teneriffe compared to how every other rental in Teneriffe performing – now keep in mind this is one of the most saturated rental markets in Queensland right now. Take a look at the enquiry rates and engagement the listing received in just 3 days compared to typical apartment rental in the area.

Almost twice as many views, triple the engagement, eight times more enquiries than average! And that’s a standard listing – not even an upgrade! END

Campaign Performance - realestate.com.au

741

Views 404

Sample A - above is a typical photo taken with an onsite manager’s smart phone

1402

Engagement 443 500

1000

1500 7

Save & Share 4 Enquiries

8 1 02

46 Sample B

81

0

Sample A

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Editorial

NEW KIDS ON THE BLOCK

Strong growth in the accommodation property sector across Australia is being matched by Resort Brokers Australia as the agency continues to expand to meet the demands of the robust market.

"

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W

e are finding the market is very strong at the moment, reflected in record transaction levels,” said National Sales Manager, Trudy Crooks. “Resort settled close to 140 sales worth almost $215 million in the first seven months of the 2017 financial year.

“And as sellers move to take advantage of the strong market, we need to ensure we not only maintain

resortbrokers.com.au | INFORMER MARCH 2017

but improve our level of client service.”

Five new brokers, handpicked for their talent, drive and enthusiasm, have joined Resort Brokers’ national network in recent months.

Major initiatives include strengthening our ‘Asia Desk’ capacity (see our new column, P.61), and launching a dedicated South Australian Division. New team members have also boosted our strength in Victoria and on the busy Gold Coast.

Kelli Crouch BROKER, SOUTH AUSTRALIA

Kelli, an impressive achiever with extensive sales, leadership and customer service experience, is helping to drive our expansion in South Australia. The former sports medicine educator moved into the marketing arena in 2000, initially in pharmacy sales. But it wasn’t long before her skills saw her appointed Territory Manager and ultimately State Sales Manager (SA/NT) for a global family-owned spirits supplier.

With Bacardi Lion Pty Ltd for 15 years, Kelli’s achievements in sales, distribution and market growth were substantial. She implemented a range of successful sales initiatives and was runner-up for Thirsty Camel’s 2013 Supplier of the Year.

Kelli was awarded ‘Leader of the Year’ 2011, and nominated again for the same award in 2015.

These skills, and extensive knowledge of the hospitality industry are invaluable as Resort Brokers Australia gains market share in South Australia. A resourceful and polished professional, Kelli delivers exceptional service for clients in Adelaide and across the state.

Damien Loorham BROKER, MELBOURNE SUBURBS & NORTH EAST VICTORIA

Michelle Matthews BROKER, MELBOURNE CBD & WESTERN VICTORIA VICTORIA

A successful and varied business background spanning financial services, sales management, hospitality and commercial property has laid excellent foundations for Michelle’s role with Resort Brokers Australia.

She spent 14 years in the business banking sector, ultimately heading a Vic-Tas division with hundreds of millions of dollars in commercial assets under management, including hotels, resorts, pubs, clubs and development sites.

From there, Michelle struck out on her own, to help drive a family start-up hospitality venture, a non-gaming hotel in Albert Park, Melbourne. The venue grew to achieve an impressive $3 million+ turnover and, in its first year of operations, was runner-up Best New Venue in the National Bar Awards.

Subsequently, Michelle turned her attention to the tourism and accommodation sector, gaining her property agent’s licence and acting as an advisor to an investment fund targeting the hotel and accommodation sector. She has also translated her penchant for luxury accommodation and fine restaurants into a widely distributed blog-style newsletter.

Damien joined Resort Brokers with extensive industry experience gained during 10 years operating his own 40-unit accommodation business in Noosa. So he knows the industry from both sides of the fence.

While Damien loved his time in Noosa, the call to return to his home state of Victoria was too strong for this huge AFL fan.

Before his stint in resort operations, Damien had spent 15 years managing his family’s jewellery business, in both manufacturing and retail roles. His marketing and managerial skills took that business from a small corner shop to a thriving, innovative enterprise.

Damien’s wealth of experience, strong sales and marketing background and proven relationshipbuilding skills will ensure he is relied upon as a valuable advisor for both vendors and buyers. He has a straight-forward approach, and is always determined to provide the best service experience for all.

Paul Mueller MANAGEMENT RIGHTS BROKER, CENTRAL GOLD COAST

Paul joined Resort Brokers with a successful background in IT, financial computer programming and business turnaround behind him. With terrific analytical skills and a strong head for business, he was ideally placed to move into management rights sales.

Having grown up on the Gold Coast, Paul also has valuable local knowledge about Queensland’s ever-growing and always-exciting resort city. Savvy business skills and in-depth market knowledge give him a vital edge for the benefit of his clients.

Paul previously operated his own IT company, PCM Data, working on financial programming for clients associated with Harvey Norman and Retravision. This led to an approach from ASX-listed Retail Food Group to work on the acquisition of distressed assets, which were then successfully turned around and onsold for significant gain. His notable turnaround successes included Michel’s Pattisserie and Donut King.

Paul loves running and is a devoted rugby fan. This successful ‘high flyer’ is also well on his way to gaining his Private Pilot Licence.

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Editorial

Are letting appointments letting you down?

by JOHN MAHONEY

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I

am often asked to review my clients’ POA form 6 letting appointments to ensure compliance with the very prescriptive Property Occupations Act. I am more often than not surprised at the errors and discrepancies I see. There are a few issues in particular that arise and I thought it would be opportune to write an article about these.

The first major issue is the relevant version of the POA form 6.

It is disappointing that the legislators have not allowed any “phasing in” period for updated versions of the form 6. Unlike PAMD forms 20a

where superseded versions of the form could be used for up to 3 months after they were replaced, there is no such leniency with the forms 6. From the date a new version commences, the previous one is obsolete and if used is invalid.

Fortunately, in apparent recognition of this problem, the OFT seems to have taken a practical approach and has not been prosecuting letting agents who have inadvertently been using superseded forms. It is strongly recommended though that you check the date of all of your appointments and make

sure you used the form current at the time the particular appointment was entered into.

The following is a guide to the dates the various versions of the form 6 were changed: version 1 commenced on 1 December 2014; version 2 on 1 October 2015; version 3 on 6 October 2015; version 4 on 1 July 2016; and version 5 on 1 August 2016.

Clients are often confused about the trading name and the licensee name in part 2. The trading name is your registered business name (if in fact you have one – such as Moonlight Shores Management). If you do not have a registered business name but operate as a company, you may insert the company name. It would never be your personal name/s unless that is also your business name which would be most unusual.

The Licensee name is the name of the licensed company or person/s being appointed the letting agent.

If your company is the letting agent the licensee name is the company’s name – it is not the licensed director’s or licensed person in charge’s name. If you are the letting agent personally, then the licensee name is your personal name/s.

Make sure that in part 4, section 2 you select “continuing appointment” and complete the start date. In part 4 section 3, for permanent rentals make sure you state the asking rent, or more appropriately, the range of acceptable rents. If a holiday or short term letting, state something like: “In accordance with attached tariff sheets as varied from time to time and as varied for market conditions” and make sure that you attach to the form 6 a copy of the current tariff details.

Part 4, section 4 (instructions/ conditions) must be completed or, as ruled by one court already, the appointment is invalid. I will assume that you are using one of the industry forms which have an addendum or special conditions attached.

That being so add in this section words such as “Refer to attached addendum”.

In the commission section the wording would be something like “5.5% of rent collected plus letting fee and relet fee described in addendum” for permanent rentals. In the following commission payable section I like to see the words “When rent

payments are made to client”.

Pay particular attention to part 8, section 1 which relates to expenses you may incur on behalf of owners, not fees and charges you might impose. There is a critically important difference. If an item (such as advertising) is shown as an expense you can only retain the actual expense you incurred and cannot retain any amount above that for your time and effort. It would be appropriate to use words such as “Refer to any such items in attached addendum shown as expenses” here. There should again be reference to the addendum or schedule of fees and charges in section 3 of this part.

Be careful to give details of any benefit you might receive personally in part 8, section 4 eg credit card reward points or commission on insurances you might arrange.

The various industry forms have different special conditions or addendums and special care should be taken in completing these. My preference is the ARAMA addendum as it is relatively simple to understand and to complete. Importantly it has some very carefully worded conditions dealing with the agent’s entitlement to make a profit from providing certain services to an owner.

Whilst the completion and maintenance of up to date letting appointments may seem a mundane and unexciting task, do not underestimate the importance of doing this. One day you will want to sell and any well advised buyer’s accountant will be looking closely at your appointments. Of course you might also face a visit from the OFT doing a random check on your appointments. Be prepared and get it right the first time. END

THEY SAY All Together Powerful.

- catch-cry of the AHLA (American Hotel & Lodging Association)

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Advocacy

Services

Benefits

Because Your Voice Should Be Heard

Because You Cannot Do It All

Because Every Dollar Counts

Staying Ahead of the Challenges Join the Accommodation Association of Australia.

The Accommodation Association of Australia is your national industry representative body, and best placed to manage all the challenges the industry faces.

“The Association gives us the security… with a tremendous amount of support and advice in time of need.”

Penny Eccleston, Owner, Best Western Plus Ambassador on Ruthven Motor Inn.

“The multitude of benefits far outweigh the minimal membership fee of joining the Accommodation Association.”

Steven Gargano, General Manager, The Cambridge Hotel Sydney.

For more information, please visit our website: www.aaoa.com.au

p: 1300 304 397 02 8666 9015 e: mail@aaoa.com.au

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&

S EA PEARL CILE N TO {Dazzling Mooloolaba Management Rights Double}

Presented here is an outstanding opportunity to acquire the management rights to two of Mooloolaba’s best holiday complexes, offered for sale in one line or separately if required.

Sea Pearl is a sophisticated and elegant 5-star property located in the heart of Mooloolaba, boasting stunning ocean views and magnificent features. There's no desk to staff as Sea Pearl guests are met on arrival by the manager.

The 10-level Cilento complex, featuring a range of 4-star accommodation options, promises excellent growth potential based on the solid gains achieved by the current owners over the past few years. This complex presents terrific opportunities for new operators with the flair and drive to take it to the next level.

The combined net income is currently $494,600 and growing.

The opportunity to purchase both quality businesses in one line affords tremendous operational flexibility and obvious economies of scale.

GLENN MILLAR - BROKER

The two complexes can effectively be run by a 2-person management team, supported by casual staff. As they are located virtually opposite one another, housekeeping and maintenance staff can also be shared between the two. There are a number of options for the real estate component attached to each complex.

A manager may reside in one or the other of the units and let out the second unit, or a partnership of two couples might utilise both.

• No Fixed office hours in either complex • Great potential to grow yields - ask me how!

• Great operational flexibility and economies of scale • Excellent range of accommodation choices • Wide market appeal – 4 and 5-star options • Long accommodation module agreements • Flexible manager’s residence options • Total Combined Body Corporate Salary $110,342

Combined Nett Profit: $494,000 Combined Price: $3,675.000

M: 0412 277 804 E: glennmillar@resortbrokers.com.au

resortbrokers.com.au | 1300 665 966 INFORMER MARCH 2017 |

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69

Editorial

MANAGING THE

RIGHT TIME TO SELL!

(Do I get out while the gettin’s good?)

Demand for permanent residential management rights remains very strong in Brisbane, despite dire warnings about the impact of an apartment oversupply on the rental market. However, the pipeline of new apartment stock does give managers of older unit buildings good cause to consider their options.

Gareth Closter

P

undits have for some time been predicting the well documented surge in apartment development in the eastern state capital cities would result in climbing residential vacancy rates, putting downward pressure on rents.

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In Brisbane, I’d have to say, those predictions haven’t exactly played out.

Feedback to Resort Brokers Australia from the buyers of management rights in many of these new buildings is very positive.

Research by respected analysts Urbis has confirmed this. Their survey across some 26 projects (June quarter 2016) showed new apartment stock in inner Brisbane had an indicative vacancy rate of 1.6% compared to the total market rate of 3.4% vacancy.

Urbis also found new and near new apartment buildings achieve a significant rental premium over existing buildings in the same area.

In June 2016, for example, new 1brm apartments in inner Brisbane had a median weekly rent of $420, compared to a median of $365 for existing / older units.

What this demonstrates is a

‘flight to quality’, with tenants taking the opportunity to upgrade to new apartments, and to move into the inner city from the outer ring. They are chasing the facilities and amenity the new stock offers – rooftop barbecue areas, infinity pools, gyms, cinemas and local dining and entertainment choice.

So, older and secondary unit complexes are the most vulnerable to current market pressures. With vacancy rates in that segment climbing, managers are naturally asking ‘should I get out while the gettin’s good?’.

Our view is ‘yes’, the ‘gettin’ is still good. The market for management rights is still very buoyant, fuelled by record low interest rates, so now is an opportune time to sell.

The pipeline of apartment development rolls on, and more supply is coming, which can only lead to an even more competitive rental market over the next 24 months.

Currently, Resort Brokers Australia doesn’t have enough listings to meet the demand we are experiencing. I personally have been involved in 12 sales in Brisbane and the inner north in recent months, and our agency as a whole settled close to 100 management rights sales last year.

Going concern businesses in older established complexes are still very desirable, particularly to first time management rights buyers who cannot get a start in the industry by buying new off-the-plan.

If you are considering selling, it is certainly worth having the discussion now. END

› Leasehold REF: LH004452

Prestigious Quest Apartment Hotel Leasehold In Beachside Perth Suburb The opportunity to become involved with Australasia’s most successful Apartment Hotel franchise group. The leasehold interest of Quest Scarborough offers the prospective purchaser a 38 boutique serviced apartment hotel property.

The property consists of an array of spacious studio, one and two bedroom (interconnecting) apartments with fully equipped kitchens (studios have kitchenettes), bathrooms, private laundry facilities (excl. studios), open plan living and dining areas, Wi-Fi internet access, DVD players, and quality furniture and fittings.

Scarborough is a coastal suburb of Perth, Western Australia, located approximately 14km northwest of the CBD in the city of Stirling and is roughly 24km from Perth Airport. The state and local governments have commenced construction of the $100 million redevelopment of Scarborough Beach which includes a new beachside pool, new surf club facility, cafes, restaurants, promenades, children’s playground, skate park and other recreation activities. This will be completed by early 2018 in readiness for the Australian Surf Life Saving Championships which is being held at Scarborough Beach.

38

29

Units

Year Lease

›› Award winning apartment hotel business ›› Opportunity and future growth potential from the Scarborough Beach Redevelopment ›› Member of Australasia’s largest Apartment Hotel franchise group ›› 38 spacious, modern studio a one bedroom apartments ›› Excellent mix of corporate & leisure guests ›› Ideally positioned close to Scarborough Beach & the new Ocean Pool ›› Close to a wide variety of cafes, bars & restaurants ›› Possible leasehold opportunity for additional Apartments in adjacent development

Financials Nett Profit: $961,329 Price: $3,400,000

Exclusive

Jim Chapman

Victorian State Manager

M. +61 413 444 782 E. jimchapman@resortbrokers.com.au

Victoria INFORMER MARCH 2017 |

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71

Editorial

RESOLUTIONS I'VE HAD A FEW

by Mike Phipps

OK

I’ve said this every year but just to keep my 100% record intact… where the hell did 2016 go?

Time just seems to fly doesn’t it? It’s obviously an outcome of encroaching old age and certainly a reminder to enjoy life and not sweat the small stuff. And let’s face it, in the overall scheme of things its nearly all small stuff.

As usual I have made numerous resolutions with reduced alcohol consumption, a better diet and more exercise high on the list. I have also promised myself to appreciate the managing director more and not be such an egotistical, self-centred narcissist. Not sure where that came from but I am simply following the instructions on the Xmas card!

Anyway, what to make of 2016.

The Oz economy remained sluggish, 72

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interest rates stayed at record lows, the exchange rate was very favourable for inbound and stay at home tourism and the accommodation sector had a cracker year, as long as you weren’t trying to make a dollar in a mining town. In particular leisure operators reported record numbers with no signs of a slowdown.

2016 was also the year of the underdog. Despite legendary coach Jack Gibson famously saying that waiting for Cronulla to win a premiership was like leaving the porch light on for Harold Holt, the Sharks finally made it to the top step after 49 attempts. And much to delight of our own Paul Grant (he of the ultrareliable finance brokering services and questionable facial hair) the Western Bulldogs completed a fairy-tale run to secure a premiership after 62 years of trying.

Of course, the biggest underdog upset in 2016 had to be the rise of Donald Trump to become the 45th president of the good old USA. That makes him, among other things, the commander in chief of the largest military and the largest economy on earth, to say nothing of the largest toupee. It is this single event which I suspect will shape 2017 both for us and for global business confidence, trade and international harmony.

Without further ado let’s whip out the crystal ball and see what 2017 holds with the Donald as master of the universe.

We’ll start with Donald’s many policy announcements and left of field rhetoric. I reckon there’s almost no chance of him acting on most of what he has said to date. Let’s face it, he called Hillary a crook and threatened to jail her then led a standing ovation

for her and Bill at his inauguration.

However, I do think he will review US trade policy and drive a more proactive economic agenda. I think there will be elements of protectionism but also incentives designed to assist businesses to prosper and grow. This strategy, combined with a promised review of personal and company taxation, has the potential to see a rapid improvement in US economic conditions and a flow on impact on interest rates. Remember, super low interest rates reflect a stalled economy so we can expect any significant improvement in the US economy to put upward pressure on rates. If it is true that the US sneezes and the world catches cold then you would have to expect a revitalised US economy to have an impact here. The big unknown will be any trade impacts or tariffs targeted directly at China and what impact that might have on demand for our raw materials.

Domestically we are already seeing politicians emboldened by the Trump ascendency and certain parties of limited personal conviction jumping on the bandwagon. Love him or hate him, if Trump can engender some plain speaking and the death of political

correctness in this country he will have achieved something of value.

As of now we have serious economic challenges to face and frankly I am more than a little tired of the debate being centred on fringe issues rather than the big stuff that ultimately impacts all our lives. Maybe Donald’s success will encourage politicians to sideline the peripheral issues and focus on the budget deficit, encroaching welfare state and meaningful full time employment opportunities for our kids.

If you see any sign of our leaders (I use the word in the broadest possible context) starting to engage in the sort of fair dinkum debates we need to have may I suggest fixing your interest rates and buying a few blue chip shares. Both are going up!

For the accommodation sector I see continued strong performance across most sectors. Certainly there has been a bit of a slowdown in demand in the corporate sector and some residential strata oversupply in capital cities, but experience tells us that this is simply an outcome of the supply and demand cycle with most supply being taken up as demand improves. With most supply now

either on line or nearing completion we can expect improving demand and occupancies with full take up over the next couple of years. New projects in planning stage will almost certainly not stack up (or attract bank finance) given the volume of new developments over the past few years so I think we can look forward to a stabilisation of the supply / demand dynamic.

In closing, our little business had a seriously sensational 2016. We have to thank the accommodation sector professionals and our wonderful clients who support our business through referrals and recommendations. Please keep the deals coming, the managing director has a credit card and is not afraid to use it!

Of course we also have a great team of people and I must thank Paul, Lisa and Simone for continuing to save me from myself. A special mention to Lisa who had her first full year with us in 2016 and settled the sort of numbers most finance brokers would kill for. She has a hard time accepting the word 'no' from lenders which is no bad thing.

Anyway, roll on 2017‌ is it Xmas yet? END

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73

Editorial

Proposed BCCM Act review recommendations announced

by FRANK HIGGINSON

H

ot on the heels of the lot entitlement review recommendations, we now have the recommendations paper in response to another of the BCCMA option papers.

What is in this recommendations paper is not law, although it is what the QUT professors are suggesting should become law. Responses to the paper can be lodged as detailed here and close on 5 May 2017.

A body corporate will be able to delegate the decision-making on towing to a third party. A third party cannot be forced to accept that delegation.

Assuming all of the statutory processes are followed, the body corporate will be the one liable if anything goes wrong with the towing.

What that says to us is that if you don’t follow the rules, the person making the decision to tow is going to be liable for

The recommendations paper (amongst other things) relates to: • Towing of cars; • Pets; • Smoking; • Overcrowding; • Fining occupiers for breaching by-laws; • Debt recovery costs; • Australian addresses for service; and • Scheme termination.

Can anyone else smell an election coming on?

There are 84 pages of recommendations which we distil down into this:

Towing The current legal position is summarised in this article. This will change if the recommendations are given effect.

Bodies corporate will have the ability to tow cars without a Commissioner’s order. If urgent circumstances exist that right will be immediate. Otherwise, statutory notices must be given and a reasonable period pass before a car can be towed.

Signage will have to be in place as well as a proper by-law.

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any loss or damage (i.e. towing fees).

The tow truck industry’s market is about to get far larger.

Pets We have written more about pets than any other strata topic. You can read some of the old newsletters here.

Pets remain about the most emotive topic in bodies corporate.

Part of the problem with reviewing strata laws and changing the status quo is that you are in part trying to unscramble a very scrambled egg.

It is easy for buildings yet to be built. The recommendations paper suggests that a developer will be able to create a lawful by-law prohibiting pets. This will then allow developers to market buildings as pet free (which is

impossible under the current statutory regime).

It is obviously harder for existing buildings. It is proposed that existing buildings can adopt a no pet by-law by a resolution without dissent. That is a resolution which has no votes cast against it. Even if there are votes against a resolution, they can be overturned in certain circumstances which we wrote about here and also here relating to that High Court deck decision. Those matters were in a different context, but you get the drift.

Votes against resolutions with dissent can be overturned. Applying that discretion with respect to pet by-laws will be very interesting.

If a building adopts a no pets bylaw all existing pets will be allowed to live out their approvals. If a building has an existing (invalid) no pet by-law they will still need to adopt it by resolution without dissent to make it enforceable.

In theory, we will have pet-friendly and non-pet friendly buildings. It will take some time to work through the existing schemes which we think may become quite a tussle. We will no doubt see committee members

nominating in upcoming AGMs to drive whatever their preferred pet agenda is.

Smoking We covered the current legal position on smoking here.

The recommendations paper does not suggest any changes to the laws relating to smoking inside a lot. People can still do that. What the paper does suggest is that smoking on common property or outdoor areas that are part of a lot (i.e. balconies etc) should be capable of being regulated by bodies corporate.

A building will be able to be smokefree or smoke friendly based on the same decision-making process as pets.

A resolution without dissent to create a no-smoking by-law will be required to prohibit smoking in existing buildings.

Developers will again be able to put a no-smoking by-law in place from the first day of registration of new buildings and then be able to sell lots as externally smoke-free.

Overcrowding This was really kicked into touch as being a local authority issue. There is a suggestion that bodies corporate should be able to consent on behalf of recalcitrant lot owners to having their lot inspected for overcrowding. This will almost certainly be necessary.

After all, if you are jamming more people than allowed into your lot, you are hardly likely to consent to have your lot inspected by an authority looking to prosecute you!

Fines Fines may be allowed for breaches of certain by-laws and would be two penalty units (with one penalty unit currently a very precise $121.90). A by-law must be in place for this.

Interestingly, fines given to tenants will be debited against the owner of the lot if they remain unpaid. It will mean changes to the standard terms and conditions of tenancy agreements

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to allow recovery of fines from bonds.

This might also finally make owners with terrible tenants accept some responsibility for them. It may also drive some property managements back to onsite managers who can more actively manage tenant activity and behaviour through their onsite presence.

Debt recovery It is proposed that there be a scale of costs and charges for debt recovery matters. Anything a body corporate is charged that is more than the scale will not be recoverable from lot owners.

Whether recovery costs are a body corporate debt is also dealt with. Costs in accordance with the scale will be recoverable.

Unpaid levies will be a statutory charge on a lot, similar to rates and land tax. This means there will be some security for bodies corporate getting paid on transfers of title.

The required time for commencing proceedings to recover overdue levies will be trimmed by 12 months to 1 year and two months from when the debt came due.

There will be a new garnishee process created where a body corporate can require a letting agent for a lot owner who has a judgement against them to pay the rental income to the body corporate as opposed to the owner. The Property Occupations Act does not allow that at the moment.

A tighter working relationship looms between bodies corporate and resident managers that are letting agents.

Address for service Everyone will need an Australian address for service. If you don’t have one, your address will be deemed to be at the lot. This will apply for levy notices but will not apply to actual service of proceedings for any unpaid debts. You still need to be served personally for those.

We suspect there will be some very surprised owners getting served with claims for levies they haven’t paid because they haven’t given the right address. Conveyancing lawyers without the proper attention to detail will also be in the frame here if they 76

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don’t provide an Australian address for their clients.

The letting agent for the lot is probably going to have to step up here for these communications.

This may all be cured when we have lawful electronic strata communications. This was raised in a subsequent options paper which we have not seen a response to yet.

Scheme termination New South Wales charged headlong into this late last year allowing schemes to be wound up with a 75% vote. The first results are already in with 32 lot owners across four buildings sharing $54 million in this collective sale at Cronulla.

This discussion is the last third of the recommendations paper, and it makes for heavier reading. It probably should, given that anything less than 100% support means someone is going to be dispossessed of their property against their will. That’s definitely against the vibe of property ownership (thanks, yet again, to The Castle).

There is a suggested step by step process for any scheme wanting to wind itself up. The first is to gather structural and valuation information and circulate it. That information needs to demonstrate the economic reasons that justify the termination of the scheme. We look at this as being similar to writing off a car. It needs to make more financial sense to write it off than repair it.

This is different from the NSW position. In Queensland, unless you have a resolution without dissent there must be economic reasons to terminate. If the building is structurally sound these economic reasons are far less likely to be made out.

Assuming this is digested and given support (and yes there are rights for objectors) the scheme needs to come up with a termination plan. We can see a new breed of expert popping up for this type of thing to herd the cats that are a disparate bunch of lot owners and other interested parties into a consolidated plan. The termination plan will need to deal with all of the assets and liabilities of the body corporate (such as service contracts like management rights and body corporate management contracts along

with leases etc) Owners then need to approve the termination plan by a 75% vote. No matter the outcome of that vote, there will be rights to apply to the District Court for approval of or to oppose a termination plan.

Distribution of proceeds will be proportioned as against the respective market values of the lots, not the interest schedule lot entitlements. This acknowledges the reality that there are interest lot entitlement schedules out there that are out of line with valuation reality.

Summary One of our oft-repeated themes is that strata living involves compromise.

These legislative tweaks are just more examples of that.

We have previously written articles dealing with the current position of most of what is being discussed. To us, that shows that the recommendations paper is addressing the things that matter. We wouldn’t be writing about the issues unless they were topical and came across our desks every other day.

Have a read, have your say, and let’s see what pops out of government after we have our next state election. And by government, we probably should seek a policy position from One Nation on all of this given they seem likely to hold the balance of power! END

THEY SAY I am a strong individualist by personal habit, inheritance, and conviction; but it is a mere matter of common sense to recognize that the State, the community, the citizens acting together, can do a number of things better than if they were left to individual action.

THEADORE Roosevelt

Agent Profile

Meet Michelle Matthews BROKER - MELBOURNE & WEST VICTORIA

Our agents pride themselves on their local knowledge. They each look after a geographical patch, and grow to know it intimately. We feel this adds greatly to the confidence with which a property can be sold. In this feature we will get some thoughts on their local area and will also learn a bit about their personalities.

How long have you worked at Resort Brokers Australia?

I have worked for Resort Brokers since November 2016. I was thrilled to have the opportunity to extend my skills related to the tourism and hospitality industries, and I’m really enjoying getting to know all the property owners and operators throughout my territory.

What is your background?

Previously, I was working with an investment property fund where I carried out due diligence, handled negotiations, and worked on the acquisition of hotels. I have also owned and managed my own hotel in Melbourne’s Albert Park. Prior to that, many years ago, I ran the hospitality division (Victoria and Tasmania) for Bankwest, which financed clients at all levels of the sector, from single operators to large corporate groups.

Tell us about your area I look after Melbourne CBD, and also cover regional Western Victoria, including areas such as the spa country, Bendigo, Shepparton and Mildura. I work on both motel sales and off-the-plan management rights sales in new apartment developments.

I enjoy the diversity of areas, and the opportunity to get out of the city into the regions.

Tell us about an issue with a sale that you have overcome and what you learnt from that?

Having only been part of the team for a few months, I haven’t had to handle any really challenging issues.

But I would say that, because I know market knowledge is so vital in this business, it has been quite a learning curve to get to know my territory and all the properties in it.

I’ve really learned what a great team Resort Brokers has in Victoria and how important their support is.

The culture of collaboration here is really helpful and encouraging.

What has been your biggest success since starting at Resort Brokers Australia?

That’s easy, because the outcome was very satisfying. My biggest success so far has been signing up a new listing in the Melbourne CBD and then selling it within just four days. I was able to do this by carefully analysing the property, understanding my buyer profile, and bringing my prospective buyers in immediately to inspect before the property went to the wider market.

What annoys you?

I find negativity really annoys me.

I get very frustrated with people who only seem to see problems and not solutions!

What do you love?

What I love the most is my gorgeous daughter, and my pup Harvey. Family comes first. My second love is interior design, and my third love is food. So, luckily for me, I can really indulge all my loves on holiday!! When I have the opportunity to spend time in a great hotel with beautiful interiors, and where the food and wine service is superior, I'm in heaven. Oh, and a little bit of sunshine too!

Do you have a nickname?

I have a few. My nicknames are Mish, Matty or Shell (but Shell is only from old school friends, as I can’t stand it!)

What to you do in your spare time?

I tend to use my spare time to enjoy family doing things with family.

I love planning for holidays when we get the chance. And on weekends we go to the farm or, in the snow season, to Mt Buller.

I also enjoy writing a blog about places that i have stayed. I write about my personal experiences, what I liked and (not so often) what I didn’t like. I haven't had a chance to write my blog since starting at Resort Brokers, though. So thanks for reminding me to get on to it!

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Sold Properties

Resort Brokers Australia has sold and settled 29 properties since the 6th January 2017.

We have a further 121 under contract.

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Freehold Motel Iluka, NSW

Management Rights Brisbane, QLD

Serviced Apartments Moorabin, VIC

Investment Motel Katherine, NT

Management Rights Coolum, QLD

Freehold Motel Mooloolaba, QLD

Management Rights Idalia, QLD

OTP Management Rights Upper Coomera, QLD

OTP Management Rights West Melbourne, VIC

Leasehold Motel Coffs Harbour, NSW

Freehold Caravan Park Santuary Point, NSW

Serviced Apartments Fremantle, WA

Otp Management Rights South Brisbane, QLD

Freehold Motel Yass, NSW

Management Rights Mountain creek, QLD

Management Rights Southport, QLD

Management Rights Palm Beach, QLD

Management Rights Mermaid Waters

Management Rights Hendra, QLD

Freehold Caravan Park Kingaroy, QLD

Freehold Motel Mackay, QLD

Freehold Motel Middlemount, QLD

Management Rights Kirra, QLD

Freehold Motel Rocklea, QLD

Leasehold Motel Coolangatta, QLD

Management Rights Agnes Water, QLD

Management Rights Coolangatta, QLD

Management Rights Surfers Paradise, QLD

Otp management Rights Mooloolaba, QLD

Freehold Caravan Park Warwick, QLD

Hotel Kempsey Kempsey, NSW

Leasehold Motel Mackay, QLD

Freehold Motel Carool, NSW

Leasehold Motel Point Cook, VIC

resortbrokers.com.au | INFORMER MARCH 20172017 resortbrokers.com.au | INFORMER MARCH

Invest. Tourist Park Charters Tower, QLD

Industry Specialists

It is always advisable to consult only those professionals and practitioners who offer the assurance of proven specialist expertise in the accommodation and hospitality sectors.

Expert management rights lawyers The team at Hynes Legal can assist you with all of your management rights needs.

The only lawyers dedicated to

Management Rights, Motels and Caravan Parks

We are different, not in what we do, but in how we do it - fixed fees, returned phone calls, accessible lawyers, no billing surprises and more. Try Hynes Legal.

Would you like to receive the best management rights information in the industry?

Australia Wide

Visit www.hyneslegal.com.au/subscribe

T: (07) 55 626 111 M: 0412 092 969 W: www.pevylawyers.com.au

e: managementrights@hyneslegal.com.au t: (07) 3193 0500

TM

Specialising in Hotels & Motels

Service Stations

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Industrial

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Mike Phipps 0448 813 090 Paul Grant 0448 417 754 mike@mikephippsfinance.com.au paul@mikephippsfinance.com.au 4/31 Mary Street, Noosaville, Qld

BRISBANE P 07 3226 0000 F 07 3226 0099 E mailbris@lmw.com.au | www.landmarkwhite.com.au

The Management Rights Lawyers

Buying or selling Hotels Caravan Parks, Motels, Management Rights?

Servicing resident unit managers throughout Queensland and New South Wales

www.mahoneys.com.au 07 3007 3777 info@mahoneys.com.au Brisbane office L15, 167 Eagle Street Brisbane Qld 4000

Gold Coast office 235 Varsity Parade Varsity Lakes Qld 4230

Call (07) 3220 1144 or email@hillhouse.com.au

www.hillhouse.com.au

 Specialist Business Advisor to the Accommodation Industry  Specialist Business Advisor to the Accommodation Industry  Verifications Reports  Verifications Reports  Trust Account Audits  Trust Account Audits  Business Services  Business Services  Taxation Specialist Business Advisor to the  Taxation Accommodation Industry  Accounting  Accounting Verifications Reports | Trust Account Audits | Business  Benchmarking  Benchmarking

Services | Taxation Accounting | Benchmarking

Sunshine Coast Brisbane/Gold Coast Sunshine Coast JohnCoast Siemon Brisbane/Gold Sam Hodgetts John Siemon Sam(07) Hodgetts (07) 5474 8955 3421 3421 (07) 5474 8955 (07) 3421 3421 Email: cpa@mcadamsiemon.com.au Email: www.mcadamsiemon.com.au cpa@mcadamsiemon.com.au www.mcadamsiemon.com.au ‘ALL PROFESSIONAL FEES QUOTED UP FRONT’ ‘ALL PROFESSIONAL FEES QUOTED UP FRONT’

Management Rights Specialists for all states of Australia Valuations and Property Advice Specialists in Accommodation Properties and Businesses Prepurchase advice, preparing for sale, rent assessment, and valuation panellist for a wide range of banks.

    

Col Myers 0417 620 516 www.smh.net.au

Owen Barbeler (07) 3620 7900

Owen Barbeler Associate Director

Buying & Selling Developer Setups Dispute Resolution Body Corporate Advice GST, Stamp Duty & Tax

est 1969

Laundry Machinery for Every Situation www.richardjay.com.au

1300 RICHARD (742 427)

Brisbane T: 07 3620 7900 E: owen.barbeler@m3property.com.au

Qualifications Owen has worked in the valuation industry since 2002 and specialises in going concern valuations.

> Bachelor of Business Management (Real Estate and Development), University of

INFORMER 2017 | resortbrokers.com.au INFORMER MARCH MARCH 2017 | resortbrokers.com.au

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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 all managers yourself before hiring.

Ramon Spidla

Steve Reynolds

Barry & Lesley Roberts

MOTELS, RESORTS & CARAVAN PARKS NATIONWIDE

MANAGEMENT RIGHTS & MOTELS BRISBANE, GOLD & SUNSHINE COAST

MOTEL NATIONWIDE

M EE

M E

0413 614 936 steve.managementrightsrelief@gmail.com

M E

0428 422 456 lez.baz@bigpond.com

Llew & Trisha Pointon

Marion & Peter Keulen

Michael Stirling

RESORT & MOTELS NATIONWIDE

CARAVAN & HOLIDAY PARKS NATIONWIDE

MANAGEMENT RIGHTS, RESORTS & MOTELS QLD & NSW

M E

0400 035 359Â llewp@tpg.com.au

M E

0411 865 905 marion_keulen@hotmail.com

M E

0437 455 865 stirling6298@yahoo.com

Michael & Carolyn Grealy

Mike and Teresa Thomson

Nanette Mortimore

MOTELS, HOTELS & CARAVAN PARKS QLD, NSW & VIC

MOTELS NATIONWIDE

MANAGEMENT RIGHTS BRISBANE

M E

0437 697 772 cmgrealy@optusnet.com.au

M E

0419 174 221 info@mitemgt.com.au

M E

0419 707 773 nanette.mortimore@gmail.com

Patricia Laverty

Paul & Jane Hansen

Peter & Janine Templeton

MOTELS & RESORTS QLD, NSW & VIC

CARAVAN PARK & VILLA QLD, NSW & VIC

CARAVAN PARK & MOTELS NATIONWIDE

M E

0478 611 202 patricia_laverty@hotmail.com

M E

0438 877 932 happycamperparkmanagement@gmail.com

M E

0408 178 130 tempy7@bigpond.com

Phillip & Sharyn Stallman

Rob & Lyn Keen

Rowena & Pat Magee

MOTELS NATIONWIDE

MANAGEMENT RIGHTS QLD & NSW

MOTEL & CARAVAN PARKS NSW & VIC

M E

0428 931 589 pjstal@bigpond.com

M E

0406 884 343 roblynkeen@gmail.com

M E

0437 232 227 rowenamagee@hotmail.com

Sally & Edward Shirke

Shane & Jodie Adamson

Shane & Madonna Ashman

ALL PROPERTY TYPES NATIONWIDE

CARAVAN PARK QUEENSLAND

MANAGEMENT RIGHTS NATIONWIDE

M E

0437 606 918 sshirkie@gmail.com

M E

0427 155 399 info@safejourneyaustralia.com.au

M E

0438 146 091 shaneashman@outlook.com

Vicki & Wayne Gowland

Yvonne & George Arato

Charlie & Jacky

MANAGEMENT RIGHTS & MOTELS QLD, NSW & VIC

ALL PROPERTY TYPES NATIONWIDE

CARAVAN PARKS & MOTELS QLD & NSW

M E

0434 200 110 vickigowland@hotmail.com

M E

0410 685 003 hgarato@bigpond.com

M E

07 4622 3221 jacquelineryan1@bigpond.com

Belinda & David Gustason

Carmel Moloney

Christian Carbone

ALL PROPERTY TYPES QLD & NSW

MOTEL QLD - GOLD & SUNSHINE COAST

ALL PROPERTY TYPES NATIONWIDE

M E

80 80

0402 255 078 rayann3010@hotmail.com

0403 219 562 gustafsondavid@hotmail.com

resortbrokers.com.au | INFORMER MARCH 20172017 resortbrokers.com.au | INFORMER MARCH

M E

0400 483 291 carmela1management@mail.com

M E

0432 008 988 alisonandlinley@icloud.com

Gary & Robyn Loakes

Jim & Carmel Ryan

John & Lesley Gibson

ALL PROPERTY TYPES NATIONWIDE

MOTELS AUSTRALIA & NEW ZEALAND

MOTELS NATIONWIDE

M E

0408 798 352 grl21@bigpond.com

M E

0437 404 079 muttley8@optusnet.com.au

M E

0418 681 124 long.yard@bigpond.com

John & Susan Conde

Kane Ansell & Robyn Hall

Kristy & Lance Butt

MOTELS QLD & NSW

MOTELS SOUTH EAST QLD & NORTHERN NSW

MOTELS SOUTH EAST QLD

M E

0438 488 738 jnsmotelrelief@internode.on.net

M E

0416 016 614 info@businessbay6.com.au

M E

0428 902 878 nqpropertygroup@gmail.com

Maria Delange

Paul & Arleene Moore

Paul Anthony Kirkpatrick

MOTEL & MANAGEMENT RIGHTS CENTRAL QLD

MOTEL MANAGERS QLD & NSW

MOTEL, RESORT & HOTEL NATIONWIDE

M E

0425 732 569 mariajdl@bigpond.com

M E

0404 855 711 pfandammoore@live.com

M E

0419 675 671 paul.kirkpatrick@gmail.com

Annie & Gary Miegel

Garry Baker

Chris Campbell

OPERATIONS MANAGERS NATIONWIDE

ALL PROPERTY TYPES NATIONWIDE

MOTELS & MANAGEMENT RIGHTS SOUTH EAST QLD & NORTHERN NSW

M E

0449 790 039 annieandgaz@hotmail.com

M E

0437 455 865 garrybaker7@hotmail.com

M E

0449 957 414 cj.campbell@gmail.com

Christopher Hillman

Colin & Laraine Fields

Elizabeth Grimm

MANAGEMENT RIGHTS, MOTELS & RESORTS QLD & NSW

ALL PROPERTY TYPES QLD & NSW

MANAGEMENT RIGHTS GOLD COAST

M E

0488 550 005 christopher.hillman@bigpond.com

M E

0402 176 933 larainefields@gmail.com

M E

0408 000 891 yellowroses4me2222@yahoo.com.au

Garth & Trish Carey

Geoff & Maryanne Cheeseman

Graeme & Deborah Wallace

RESORT & MOTEL QLD & NSW

ALL PROPERTY TYPES NATIONWIDE

MOTELS QLD & NSW

M E

0421 359 059 garth@careynominees.com.au

M E

0410 662 963 cheezmg@bigpond.com

M E

0427 512 751 graemedeb@motelmanagers.com.au

Peter Mackay

Karen & Robert Nisbet

Karla Harding

MOTELS & CARAVAN PARKS NSW

MOTEL & CARAVAN PARKS NATIONWIDE

B&B & GUESTHOUSE AUSTRALIA & NEW ZEALAND

M E

0408 000 554 mackas@gmail.com

M E

0488 934 899 karen.nisbet70@gmail.com.au

M E

0414 767 499 bnbangel@fastmail.net

Grant & Kerry O’Sullivan

Lauren Kropp

Linley and Alison Maddick

ALL PROPERTY TYPES NATIONWIDE

ALL PROPERTY TYPES QLD & NSW

MOTELS NORTHERN NSW & SOUTHERN QLD

M E

0404 473 100 grant2466@bigpond.com

M E

0458 416 484 lauren@realstrategix.com.au

M E

0432 008 988 alisonandlinley@icloud.com

INFORMER 2017 | resortbrokers.com.au INFORMER MARCH MARCH 2017 | resortbrokers.com.au

81 81

Directory Introducing Resort Brokers Australia’s national team of accommodation business and property brokers. We are the industry experts at your service in every state and territory.

Ian Crooks

Tim Crooks

Alex Cook

MANAGING DIRECTOR

SALES MANAGER

OFF THE PLAN SPECIALIST

SENIOR BROKER

Nationwide

Nationwide

Nationwide

Brisbane, Gold Coast & Quest

M 0411 171 648

M 0477 882 210

M 0422 208 450

M 0467 600 610

E iancrooks@resortbrokers.com.au

E trudycrooks@resortbrokers.com.au

E timcrooks@resortbrokers.com.au

E alexcook@resortbrokers.com.au

Carla Cook

Nathan Eades

Gareth Closter

Brent Staker

MARKETING MANAGER

BROKER

BROKER

BROKER

Nationwide

Brisbane

Brisbane

South Brisbane

M 0467 600 611

M 0448 339 920

M 0423 182 766

M 0410 344 344

E carlacook@resortbrokers.com.au

E nathaneades@resortbrokers.com.au

E garethcloster@resortbrokers.com.au

E brentstaker@resortbrokers.com.au

Jessica Wilkie

82 82

Trudy Crooks

Neville Littleton

Glenn Millar

Tyler Millar

BROKER

BROKER

BROKER

BROKER

South Brisbane

North Brisbane

Sunshine Coast

Sunshine Coast

M 0401 003 023

M 0407 727 194

M 0412 277 804

M 0411 271 761

E jessicawilkie@resortbrokers.com.au

E nevillelittleton@resortbrokers.com.au

E glennmillar@resortbrokers.com.au

E tylermillar@resortbrokers.com.au

resortbrokers.com.au | INFORMER MARCH 20172017 resortbrokers.com.au | INFORMER MARCH

Ian Dore

Jenny Sorenson

Paul Mueller

Des Fagg

BROKER

BROKER

BROKER

BROKER

North Nsw & Gold Coast

South Gold Coast

Central Gold Coast

North Queensland

M 0412 752 238

M 0475 089 468

M 0439 255 507

M 0427 849 119

E iandore@resortbrokers.com.au

E jennysorenson@resortbrokers.com.au

E paulmueller@resortbrokers.com.au

E desfagg@resortbrokers.com.au

Shane Mullins

Chenoa Threlfall

Lynne Booth

Len Booth

BROKER

BROKER

BROKER

BROKER

Far North Queensland

Far North Queensland

Central Queensland

Central Queensland

M 0447 185 001

M 0403 143 151

M 0408 704 778

M 0438 139 422

E shanemullins@resortbrokers.com.au

E chenoathrelfall@resortbrokers.com.au

E lynnebooth@resortbrokers.com.au

E lenbooth@resortbrokers.com.au

Lindsay Cooper

James Carrick

Shane Wynhoven

Andrew Rendall

BROKER

BROKER

BROKER

BROKER

West Qld & North Nsw

Mid North & North West Nsw

Greater Sydney, Central Tablelands & Hunter

Central NSW

M 0418 711 047

M 0400 664 065

M 0424 174 592

M 0412 635 344

E lindsaycooper@resortbrokers.com.au

E jamescarrick@resortbrokers.com.au

E shanewynhoven@resortbrokers.com.au

E andrewrendall@resortbrokers.com.au

Russell Rogers

Jim Chapman

Stuart Charles

Michelle Matthews

BROKER

VICTORIAN STATE MANAGER

BROKER

BROKER

South Coast, Nsw

Quest Specialist - NSW, VIC, SA & TAS

West Victoria

Melbourne CBD & West Victoria

M 0416 166 909

M 0413 444 782

M 0458 588 472

M 0400 474 861

E russellrogers@resortbrokers.com.au

E jimchapman@resortbrokers.com.au

E stuartcharles@resortbrokers.com.au

E michellematthews@resortbrokers.com.au

INFORMER 2017 | resortbrokers.com.au INFORMER MARCH MARCH 2017 | resortbrokers.com.au

83 83

Kelli Crouch

Damien Loorham BROKER

BROKER

North East Victoria

South Australia

M 0409 399 932

M 0410 441 750

E damienloorham@resortbrokers.com.au

E kellicrouch@resortbrokers.com.au

Ray Ironside

Jane Fang

BROKER

Chinese Liaison Broker

Tasmania

National

M 0418 130 364

M 0402 399 613

E rayironside@resortbrokers.com.au

E janefang@resortbrokers.com.au

Queensland Office PO Box 5004 West End, QLD 4101

A

07 3878 3999

P

New South Wales Office PO Box 78 Freshwater, NSW 2096

A

02 9904 8224

P

Victoria Office PO Box 1100 Carlton, VIC 3053

A

03 9347 3100

P

1300 665 966 resortbrokers.com.au

QUEENSLAND OFFICE PO Box 5004 West End, QLD 4101 (07) 3878 3999

NEW SOUTH WALES OFFICE PO Box 78 Freshwater, NSW 2096 (02) 9904 8224

VICTORIA OFFICE PO Box 1100 Carlton, VIC 3053 (03) 9347 3100

1300 665 966 resortbrokers.com.au Follow us on social media

INFORMER MARCH 2017 |

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