Whitsundays, Queensland

Coral Cove Apartments - Absolute Beachfront Resort, Whitsundays

Management Rights $1,550,000

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 Q2 2024, 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

Managers Unit

Bedrooms: 2Office: On Title

Complex Information

Complex Type: n/aStar Rating: 4.5Total Units in Complex: 37Agreement Term: 25 yearsPool: YesSpa: Yes
Marketing Agent

Key Investment Insights

1. Prime location: The Coral Cove Apartments are situated in an absolute beachfront location, offering guests direct access to the sand and uninterrupted ocean views from every unit.

2. High quality complex: The resort is a 4.5 star complex, providing guests with a luxurious and comfortable stay.

3. Variety of accommodation options: The resort offers 37 fully furnished one, two, and three bedroom apartments, catering to a wide range of guests.

4. Potential for growth: With the newly opened Bowen Orbital Spaceport in the vicinity, the resort is expected to attract a high demand from visitors coming to witness rocket launches. This presents an opportunity for the next operator to build upon and increase revenue.

5. Operated under management: The resort is currently being operated under management, providing a hands-off investment opportunity for potential buyers.

6. Strong repeat business: The resort has a high volume of regular clients, indicating a strong repeat business and customer satisfaction.

7. Manager's unit: The property includes a 2 bedroom manager's apartment with a balcony and ocean views, providing a comfortable living space for the owners.

8. Letting rights: The resort has a 25 year agreement term and consistently has 22 self-contained units in the letting pool, providing a stable income for the manager.

9. Property facilities: The resort offers a range of facilities including direct beach and ocean access, a saltwater swimming pool and spa, secure basement carparking, and lifts on site.

10. Onsite restaurant: The resort has an onsite restaurant that is owned by a third party and has been operated by them for many years, providing an additional amenity for guests.
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