Perfect position and sharp price for accommodation venture
Port Arthur Villas, No.52 Safety Cove Rd, Port Arthur. Picture: Supplied
A well-positioned accommodation business on the Tasman Peninsula has attracted dozens of inquiries in its first week on the market.
Port Arthur Villas, at No.52 Safety Cove Rd, is set on 1.21ha of land and is located directly opposite one of the state’s best tourist attractions, the Port Arthur Historic Site.
Listed for sale by Richard Steedman and John Blacklow from Elders Commercial Tasmania, the agents say part of the reason it has drawn attention is that this type of asset class is attractive to investors.
Mr Blacklow said Tasmania continues to be an attractive place to visit, so the accommodation sector is “doing well with above average occupancy rates”.
“Investors have confidence in our market,” he said.
Port Arthur Villas.
Port Arthur Villas.
Tickets to the Historic Site can be purchased at the Villas, which is convenient for travellers.
“Guests can cross the road and enter the Historic Site through a gate that they have access to. The position could not be better.”
Mr Blacklow said there is room for the next owners to improve occupancy rates.
“The rooms are good quality, with eight of the units being recently built in 2022,” he said.
“It is ideal for a working couple as the acquisition includes a substantial family home.
“There is little doubt that through better marketing initiatives and a better business platform that astute purchasers should be able to double the occupancy rate.”
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Port Arthur Villas.
Port Arthur Villas.
In the peak period, room rates vary from $225 to $285.
In 2023-2024, Port Arthur Historic Site welcomed 333,068 daytime visitors.
Other attractions nearby include Three Capes Track, Pennicott Wilderness Journeys, Tasmanian Devil Unzoo, Remarkable Cave, Port Arthur Lavender Farm, Tessellated Pavement, and Doo Town.
For the year ending September 2024, there were 1,306,000 visitors to Tasmania.
They stayed 12.82 million nights in the state and spent $3.461bn.
Port Arthur Villas is owned by Australian Lifestyle Tourism Investments Pty Ltd. Port Arthur Villas is priced at $2m plus stock at valuation.
Port Arthur Villas.
Nearby: Port Arthur Historic Site. Picture: Mark Kolbe/Getty Images
This four-star property occupies a high-profile location and is easily visible from the highway.
It has modern, spaced buildings among landscaped gardens and lawns.
The aesthetic appeal is very attractive, and one of the reasons why visitors are encouraged to stay.
Currently operating under management, the business is described as “easy to operate”.
Mr Blacklow noted that $2m plus stock was less than an independent valuation in March 2024 that said the property is worth $2.65m.
