ResortBrokers sets new Sunshine Coast management rights record with sale of Oceans Mooloolaba Beach for $11.2M

by

ResortBrokers sets new Sunshine Coast management rights record with sale of Oceans Mooloolaba Beach for $11.2M
Images Supplied - ResortBrokers

ResortBrokers has set a new record for a management rights business on the Sunshine Coast with the sale of luxury resort Oceans Mooloolaba Beach for $11.2M.

The sale smashes the previous Sunshine Coast management rights record of $8.06M set in February 2022 for the 21-apartment On the Beach in Noosa’s Hastings Street.

Image Supplied - ResortBrokers
Image Supplied - ResortBrokers

ResortBrokers’ Sunshine Coast team, Glenn Millar and Chenoa Daniel, settled the sale earlier this week. The off-market deal sees the management rights change hands from vendors Vince and Sue Galle to Prestige Residential, led by Ben Orton, which also operates the management rights to On the Beach and Tingirana in Noosa Heads as well as several complexes in Brisbane and the Gold Coast. The Galles have operated the management rights since 2009.

Image Supplied - ResortBrokers
Image Supplied - ResortBrokers

Situated on Mooloolaba Esplanade right across from Mooloolaba Beach, the 46-apartment 10-storey luxury mid-rise is the only AAA-rated 5-star resort in Mooloolaba.

Image Supplied - ResortBrokers
Image Supplied - ResortBrokers

The resort’s excellence has been recognised with a swag of awards, including a 2023 Tripadvisor Best of the Best Award, a 2022 Tripadvisor Travellers’ Choice Award, a 2020 Tripadvisor Best of the Best Award, a 2018 World Luxury Hotel Award, a 2016 Tripadvisor Travellers’ Choice Award, a 2016 Tripadvisor Certificate of Excellence and a 2015 Tripadvisor Hall of Fame Award. The complex, which opened in 2005, currently enjoys a “Superb” 9.2 rating on Booking.com and a “Excellent” 4.5 rating on TripAdvisor.

Image Supplied - ResortBrokers
Image Supplied - ResortBrokers

“Fourteen years ago, the Galles took a good business and turned it into a great business,” says Millar. “This is an impeccable asset, which is reflected in the record amount it sold for.”

Image Supplied - ResortBrokers
Image Supplied - ResortBrokers

Millar joined ResortBrokers in 2005 and is the nationwide agency’s longest-serving broker with more than 40 years’ experience in the hotel and resort sector. With ResortBrokers, Millar has sold over 200 management rights businesses with a combined value exceeding $350M, equating to a sale settling every 25 days on average. Daniel joined ResortBrokers in 2016, first covering North Queensland, and has been based on the Sunshine Coast with Millar for the last three years. With ResortBrokers, Daniel has sold over 60 management rights businesses with a combined worth of over $120M.

Related Content

ResortBrokers Listings

Accommodation For Sale

Latest Industry News


GREENHEAD CARAVAN PARK
High Net $144,737 Few Hours Simple Work - ID 8997
West End & Highgate Hill Business Only's - First in Best Dressed in 4101
Popular Tourist Town, Fully Renovated Freehold Hotel, Large Guest House  - 127HL
Fully Renovated Freehold Hotel with Large Guest House in Popular Tourist Town - 127HF
Only Supervisory Role, Salary High 400 K with Huge Income Upsize Potential - ID 8532
CAPTIVATING CAIRNS - TOP CHOICE SHORT-STAY MANAGEMENT RIGHTS WITH NET $462K+ | Resort Brokers ID : MR008459
Syndicate Investment Opportunity – Starting ROE 25% Targeting 35%
Very Affordable Management Rights Business plus Managers Apartment in fabulous Airlie Beach
ESTABLISHED BUSINESS ONLY COMPLEX IN 'THE GABBA' WITH SHORT-TERM LETTING OPTION! | Resort Brokers ID : MRB008446
HUGE 19% ROI - Substantial price reduction - Incredible investment - Blue chip location
Excellent 15% ROI, vibrant lifestyle, prime location, unlimited potential
Multiple Income Stream Freehold Going Concern in the Granite Belt | Resort Brokers ID : FH008398
Rare 5 Star Hotel | Offering Villa Howden Hotel
Gilligan’s Resort
Location! Simply! No Live-onsite Requirement!
Prime Investment: Busy motel on 1 acre near Yamba CBD | Resort Brokers ID : FH008458
BOUTIQUE SHORT-STAY MR IN PRIME SOUTH BRISBANE LOCATION | Resort Brokers ID : MRB008454