Whitsundays, Queensland

Coral Cove Apartments - Absolute Beachfront Resort, Whitsundays

Offers Over $1,290,000 Considered

Business Description

* Absolute beachfront location - step straight onto the sand from the resort
* Uninterrupted ocean views from every unit
* High quality 4.5 star complex
* 37 fully furnished one, two and three bedroom apartments
* Situated in the ideal location to witness rocket launches from the newly opened Bowen Orbital Spaceport. The first test launch is anticipated for Q1 2025, and with the growing demand to launch satellites, the spaceport is expected to become a major drawcard for the region
* Operated under management
* Direct beach access and ocean views
* Live and work in paradise
* Strong repeat business with high volume of regular clients
* Upside potential for the next operator to build upon
* A truly exceptional property and location

Financials
* Net Income $239,635 FY23

Manager's Unit
* 2 bedroom managers apartment
* Balcony with ocean views
* Private ground floor courtyard with lawn & garden, ideal for pets
* Real estate component valued at $650,000
* Includes reception/office on title

Letting Rights
* 25 year agreement term (from 2022)
* Consistently 22 self contained units in the letting pool

Property Facilities
* Direct beach and ocean access
* Saltwater swimming pool and spa
* Undercover secure basement carparking
* 2 lifts on site
* Onsite restaurant that is owned by a third party and has been operated by them for many years


Queensland Tourism & Hospitality Brokers (QTHB) has compiled this information from sources we believe to be reliable, however QTHB does not give any warranty as to the accuracy, error or omission of information, if any. Interested parties should rely on their own enquiries.

Business Summary