BreakFree Aanuka Beach Resort in Coffs Harbour has been announced to the market.
Currently run by the Mantra Group under a remaining five-year lease, BreakFree Aanuka Beach Resort has been operating for 30 years in the highly popular northern-NSW holiday location.
According to the developer, BreakFree Aanuka Beach Resort has the only direct local access to the popular Diggers Beach in Coffs Harbour, giving its location a unique investment proposition. Positioned on two strata-titled beachfront lots, the resort is a blue-chip investment opportunity with an offering that includes reception, administration, conference, F&B and leisure and recreational facilities across 6,030 square metres of beachfront land. It is located at 11 Firman Drive.
Donald Watson-Brown and Ryan O’Hanlon, Knight Frank Australia’s directors – pubs and hotels, are managing the sales process on behalf of the local owners.
According to Mr Watson-Brown, there is a huge opportunity here for developers.
“Aanuka Beach Resort is currently operated under lease by Mantra Group under its BreakFree brand, offering a strong and secure covenant, with approximately five years remaining on the lease. Current rental nets over $420,000 per annum, offering a lucrative holding income for a site with extensive development upside.”
The accommodation offerings of the resort, which are not included in this sale, are via 67 strata-titled bures on an adjacent landholding.
“The resort offers flexibility and plenty of options in its investment proposition. The current owners are not in a hurry to sell. They are keen for development of the property to go to a party that has a vision to use the property in a positive way for the local area – whether that is mixed-use residential, hotel, or [another] type of development,” Mr Watson-Brown said.
“Aanuka Beach Resort has proven to be an integral part of the local history of the northern NSW coast tourism industry, providing generations of beachgoers lifelong holiday memories.
“As a social centre for residents and visitors alike, Aanuka Beach Resort is being prepared for sale with a new era foremost in mind.”
Aanuka Beach Resort is located approximately 535 kilometres north of Sydney and 389 kilometres south of Brisbane. The property is 2 kilometres from Coffs Harbour city, 8.5 kilometres from the airport, 1 kilometre from the Park Beach Plaza shopping centre and 10 kilometres from Coffs Harbour Stadium.
“Positioned within close proximity of the Pacific Highway, Coffs Harbour is a historically strong-performing holiday destination and this is a great development opportunity,” Mr O’Hanlon said.
“The offering represents a highly strategic play for future development on the site. Underpinned by direct access to Diggers Beach, the owner of the Aanuka Resort infrastructure will control the future use, refurbishment or even larger-scale development of this historically successful holiday precinct.
“There are many options and it will be up to the owner, but it is clear that this is a solid investment opportunity with underlying value,” concluded Mr O’Hanlon.
