Rights at resort big drawcard at $4.25m

MANAGEMENT rights and associated real estate of Caloundra's Shearwater Resort and Vue Conference Centre has been placed on the market for $4.25 million.

Exclusively marketed by Resort Brokers Australia, the 62-unit complex, which fronts Kings Beach, includes a two-bedroom manager's residence on the fifth floor with sweeping ocean views.

Resort Broker's regional sales broker Glenn Millar said there was already some interest in the sale after one week on the market.

An independent valuation report has valued the manager's lot at $535,000 which includes the residence, office and reception area, three storerooms and a tandem car park while the conference facility has been valued at $475,000.

Net profit for sale purposes has been put at $610,000 by the vendor's accountants with occupancy for the past 12 months being 60.7%.

"Management rights is a very big business in Queensland, the potential is huge," Mr Millar said.

"The Sunshine Coast has always been strong and there is a strong demand for management rights at the bigger resorts."


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