The Bussleton Beach Resort has changed hands following the end of a 40-year timeshare arrangement.
The resort was built in the early eighties, with the 1.7ha Marine Terrace site offering 208 metres of coastal frontage and four direct points to Busselton’s Geographe Bay.
Located 4km from the Busselton Jetty and town centre, the resort currently comprises 32 two- and three-bedroom self-contained villas with a kitchen, living and dining areas, car, caravan, and boat parking. Leisure amenities include tennis, squash, basketball courts as well as a mini putting and bowling green, an outdoor heated pool and spa, and a gymnasium and sauna.
CBRE’s Ryan McGinnity and Chloe Mason and Stocker Preston’s Louis and Peter Di Chiera brokered the sale on behalf of private vendors, who took back the property at the end of the timeshare arrangement.
“We continue to witness the growing appetite and demand for regional accommodation assets throughout Western Australia. This transaction follows our recent sales of Bunbury Lighthouse Resort, Ace Accommodation Albany and the Sebel Mandurah, representing a combined investment of nearly $48 million into the flourishing southwest accommodation market,” Mr McGinnity said.
Ms Mason added, “With the challenges of border closures and lockdowns a thing of the past, hotel groups, funds, owner-operators, and even newcomers to the accommodation sector are actively seeking their next investment to leverage the sustained growth in regional tourism.”
“Despite yields softening across several asset classes, the hotel market remains resilient, with a considerable amount of capital eagerly awaiting deployment.”
Mr Louis Di Chiera confirmed the strong interest in Busselton Beach Resort saying, “The diverse future uses, and its expansive 1.7ha landholding attracted considerable attention, with more than 140 enquiries and eight expressions of interest from a wide range of prospective buyers. I think the community will be delighted that the Busselton Beach Resort will continue to operate as an accommodation facility ensuring its long-standing presence in Busselton.”