Value add ocean fronting resort in Mission Beach up for sale
Mission Beach and the Cassowary Coast region is currently experiencing a boom in both tourist visitation and resort investment.
The entire TNQ region is experiencing unprecedented demand with domestic tourist flocking to the region. Cairns operators have reported huge uplift in occupancy, ADR’s and RevPAR levels significantly above 2019 levels already and that is before welcoming inbound international tourists back on mass.
The uplift in market performance has seen notable investment occur, including the recent sale of Dunk Island, Elandra for circa $5 million, Eco Village for $2.7 million & Sanctuary Retreat Mission Beach for $2.4 million, representing unprecedented investment in the region. Investment demand has been driven from southern based buyers looking to re-position these resorts and capitalise on the potential to increase the RevPAR and subsequent throughflow to bottom line has led to an improvement in returns.
Expressions of Interest are now being invited for Castaways Resort & Spa, Mission Beach. Castaways offers 200 metres of beachfront land on the pristine Mission Beach, a 14 kilometre stretch of idyllic sand located 90 minutes south of Cairns. The resort currently comprises 46 keys and a range of facilities including the renowned Buko Restaurant which has recently benefitted from an expanded licensed area providing for unique event and F&B offerings.
Commenting on the sale, Adam Bury, Executive Vice President at JLL Hotels & Hospitality Group stated, “Castaways, with its pristine beachfront location, is uniquely positioned to capitalise on Mission Beach becoming a genuine luxury accommodation destination for Australian and international travelers”.
Mission Beach recently took fifth position in “the world’s most beautiful village” list based on social media impressions (source: National World News) and is the closest access point in Australia to the Great Barrier Reef. Recent investment by the Qld State Government in the Clump Point Mission Beach Marina has increased the accessibility of the reef.
An incoming purchaser for Castaways Resort & Spa has a variety of investment options from continuing to operate the resort as-is, refurbishing and repositioning of the existing improvements or expanding the resort via the Development Approval already in place.
Gareth Closter, Senior Vice President at JLL Hotels & Hospitality commented, “Investor confidence in the FNQ and Mission Beach area is at an all-time high and we expect to see more operators enter this market. A boutique offering like Castaways with 46 keys on 7,600sqm of beach fronting land is truly unique.”
To request more detail on the sale please contact the exclusive marketing agents at JLL Hotels & Hospitality, Adam Bury & Gareth Closter via the contact details below.
Find the listing HERE
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