This article is from the Australian Property Journal archive
BRISBANE-based Charlton Hotel Group has bought the Bedarra Island Resort in Far North Queensland, beating wealthy individuals who wanted to convert it into a private residence.
CBRE Hotels’ agents Wayne Bunz and Paul Nyholt negotiated the sale of the iconic resort, which formed part of the Hideaway Resorts portfolio. Negotiations are continuing on the sale of the remaining asset in the portfolio, the renowned Dunk Island Resort.
Bunz said the sale campaign generated overwhelming interest, with in excess of 150 enquiries from local and offshore groups.
“Various bids were lodged from a myriad of different investor types, including a number of high profile, high net worth individuals, to buy the assets either in one line or to acquire the individual resorts,” he added.
Nyholt said the sales process had brought a number of new buyers into the market who were cashed up looking for opportunities. In the case of Bedarra, the resort also attracted interest from a number of high net worth individuals seeking to convert the property into a private residence and family retreat.
Nyholt said the family owned hotel group will undertake repairs and refurbish the resort, which has been closed since the February cyclone.
Charlton has an existing hotel stable including the Metropolitan Motor Inn, Toowong Villas and Mt Ommaney Hotel Apartments and the Kingsford Smith Motel, all in Brisbane.
Charlton Hotel Group general manager Sam Charlton said a sustainability analysis of Bedarra Island Resort would be undertaken in conjunction with the repairs to assess the population density the island could support, particularly in relation to waste, water and energy requirements.
Charlton said the analysis would most likely result in a reduction in the number of villas on the island and a shortened opening season for the resort.
“We recognise that Bedarra is a unique resort in a unique location. The surrounding reef and rainforest ecosystems are of the utmost importance and we want to ensure these attributes which make the island attractive to today’s guests are maintained and enhanced for future generations to enjoy,” he added.
Refurbishment works will commence early in the New Year, with reservation enquiries being taken from late 2012.
Bedarra Island Resort occupies 44.96ha of land on the island and prior to the cyclone the resort offered secluded accommodation for just 32 guests in 16 luxury villas, which enjoyed a strong trading history in recent years.
Sale negotiations are continuing on Dunk Island Resort, which prior to Cyclone Yasi was an established and profitable family friendly resort offering a good selection of accommodation across 160 rooms.
The significant undamaged infrastructure at Dunk Island Resort includes a sealed airstrip which caters for flights from Cairns International Airport, staff quarters, a nine-hole golf course (which could be extended to 18 holes), mains power, a fresh water dam and a sewerage treatment plant.
The resorts are both located between Cairns and Townsville and offer easy access via flights directly to Dunk Island or a short 15 minute boat ride from Mission Beach, approximately 140km south of Cairns.
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