Airlie Beach oceanfront resort to ride tourism wave

One of Australia’s most picturesque oceanside resorts has floated onto the market, with Airlie Beach’s Coral Sea Resort chasing a new owner.

Sydney-based owner Darrol Norman is offloading the stunning four-star venue after more than two decades of ownership, offering what agents are describing as arguably the region’s best site.

The resort at 25 Ocean Beach Ave has 60 large guest suites and 73 keys, as well as a full complement of facilities.

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It is currently owner-operated and is being offered with vacant possession, meaning buyers can take over the operation themselves, or lease out the resort to a larger operator.

The property sits on one of the most stunning sites in Queensland.

There is a pool overlooking the ocean, conference and function facilities, a tour desk, gazebo and private jetty, as well as the Clipper Restaurant and Lounge on-site.

CBRE Queensland director Paul Fraser, who is been tapped to market the property with colleague Hayley Manvell, says there are few better-presented resorts in Queensland.

“This is a quality hotel which presents exceptionally well, having been maintained with constant capital expenditure,” Fraser says.

The resort includes its own private jetty.

“The resort has an unrivalled location, positioned on a 7521sqm oceanfront site between the CBD and Abell Point Marina and offering spectacular views over the Coral Sea coastline. It is arguably the best site in the Airlie Beach region.”

Fraser says the Whitsundays are currently experiencing a lift in tourism interest.

“A strong economy, well-planned infrastructure and desirable lifestyle make the Whitsunday Region an inviting investment environment, with Airlie Beach being a particularly attractive prospect as it is currently experiencing a rebound in tourism numbers,” he says.

An oceanside pool tops the list of features at the resort.

Manvell says the resort makes a solid investment case.

“Coral Sea Resort attracts a diverse range of hotel guests, underpinning its incredibly strong rate and a robust occupancy level,” she says.

“With the hotel being owner-operated at present, and offered with vacant possession, the opportunity could present excellent rebranding opportunities – opening up the buyer pool to major brands and owner operators. We are expecting wide ranging interest with a focus on off shore investors.”

The resort is being sold through expressions of interest, which close on April 12.