Informer Issue 109 by Resort Brokers

I S S U E N O. 1 0 9 AU S T R A L I A ’ S BES T ACCOM M ODAT I ON I N V E S T M E N T S H OWCAS E

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SPECIALISING SPECIALISING

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Contents

What’s Inside I S S U E N O . 109

ON THE MARKET

Q2 SALES ACTIVITY

GAME ON

Managing Director Trudy Crooks discusses opportunities in the current market.

We showcase our biggest deals from around the country for Q2.

Cons Prop and Hutchinson discuss how the Olympics will transform Brisbane.

Australian Accommodation Property Group’s Gareth Oakley looks back on his 34-year career in the motel industry.

RESORTBROKERS VANUATU

REGIONAL SPOTLIGHT: CENTRAL WEST NSW

BROKER INSIGHT

Broker Neil Hamilton on the bright investment opportunities available in Vanuatu.

Chris Kelly takes us on a spin of one of the largest patches in ResortBrokers’ national network.

Brisbane management rights broker Jessie Shi answers buyers’ and sellers’ most frequently asked questions.

HAIL THE QUEEN Queen’s Wharf Project Director Simon Crooks discusses Brisbane’s latest Olympic showcase.

FACES OF THE INDUSTRY

Regular Features 38

NEW KID ON THE BLOCK

LET’S GET SOCIAL

WHAT’S COOL

RELIEF MANAGERS

MEET OUR TEAM

Meet Clint Amos, our new management rights broker for Northern Gold Coast.

Coast to coast, if there’s been a major industry conference or event, we’ve been there.

Our Director of New Developments and Hotels, Tim Crooks, checks out the best Christmas hotels.

If you need a break, you’ll need a manager. Find one here.

ResortBrokers’ national directory #weareeverywhere

Cover image: Courtesy of Destination Brisbane Consortium. Concept image only. Subject to approvals.

Preface

ning r

SYD & MEL

— Bri

ane —

Let the games begin AUSTRALIA’S LATEST OLYMPIC CITY IS THE NATION’S NEW ‘BLEISURE’ CAPITAL. The percentages below represent corporate travel bookings between March and August

25.7%

21.7%

21.5%

BRISBANE

SYDNEY

MELBOURNE

(Source: Flight Centre’s SME division, Corporate Traveller)

gs arou

Words_Ian Crooks, Chairman

For our final issue of calendar year 2023, Informer casts its gaze ahead to the starting line of the Brisbane 2032 Summer Olympics.

I want to wish all our readers a great Christmas and New Year. We’re anticipating a big year for our industry in 2024. From everyone here at ResortBrokers, we hope your year is a great one, both personally and professionally.

Given it’s nine years away, you may think it’s a little early to be talking about the Brisbane Games. But the masterplan for Australia’s latest Olympic city is already well underway and the buildings that will come to define our nation’s third largest city, and my adopted hometown, are rising before our eyes. One of those buildings, Queen’s Wharf, will showcase Brisbane more than any other. Queen’s Wharf is the largest development ever undertaken in the River City, and we’re pleased to have spoken this issue with Destination Brisbane Consortium Project Director Simon Crooks ahead of the precinct’s anticipated grand opening in April 2024. As Simon says, Queen’s Wharf will breathe new life into the north side of the river and complement the South Bank precinct on the opposite side. We’re also delighted to have canvassed the views of two giants in the Queensland building and construction space, Jack Hutchinson of Hutchinson Builders and Don O’Rorke of Consolidated Properties Group, on what the 2032 Games will mean for Brisbane. In this issue, we also talk with Gareth Oakley, who ResortBrokers has known for many years. Gareth got his start in the hotel business working part-time in his family’s motor inn in Portland, Victoria. Today, 34 years on, he operates a

successful portfolio of around half a dozen motels as the head of Australian Accommodation Property Group. Our new Vanuatu broker, Neil Hamilton, walks us through the investment landscape of this tropical paradise. Neil gives us the skinny on Vanuatu’s next hotspot for development, which is Santo, the largest island in the archipelago. ResortBrokers has four exceptional properties for sale on Efate, which is the main island and home to Vanuatu’s capital, Port Vila. In due course I expect we’ll have properties come online for Santo as well. Vanuatu may seem remote, but it’s really not! At just under three hours’ flight from Brisbane, it’s half the travel time it takes to get to Bali. We’re also delighted to introduce our new management rights broker for the Northern Gold Coast, Clint Amos. Clint joins ResortBrokers’ senior broker Todd Warner and broker Syd Douglas in our new look Gold Coast team, led by Todd. Clint has held senior sales positions with Bacardi Martini, Pernod Ricard and Hard Fizz. Prior to that he was a professional rugby league player for NRL clubs North Queensland Cowboys and Gold Coast Titans from 2006 to 2011. I asked Clint who he’d back in a matchup between his two old football clubs and he very artfully replied, “Footy’s the winner!” I wish Clint well, and I’m sure he’ll do well. Enjoy the issue. END

On The Market

Big Industry, Small Businesses Our second annual management rights report reveals an industry far larger than we thought.

This month, we’re delighted to launch ResortBrokers’ second ever management rights industry report. Firstly, props to our inhouse Property Economist Josh Mangleson for his excellent work on this. Having set a high bar with last year’s inaugural report that gave the management rights sector its first ever industry snapshot, Josh has outdone himself this year by bringing in three new data partners: ARAMA, the peak body for the management rights profession in Australia; AccomValuers, a specialist valuation firm focusing on management and letting rights businesses; and Australian Valuers, an independent property valuation expert.

the management rights model appeals to people looking for both a home and a business, which is how model was first conceived in the mid ‘60s. For owner-occupiers and investors, caretakers take the burden of the constant upkeep of an apartment complex off their shoulders. And banks love management rights because the model provides a secure income to service the loan and is backed up by long tenure. They’re a win-win all round.

Thanks to the buy-in of our new data partners, we have a better idea of the size and make-up of the management rights sector nationally. We now estimate the sector’s value at $8 billion, compared to $4.8 billion in last year’s report. This year’s report also gives us a good idea of the composition of the industry. Despite some large-scale operators, the industry is dominated by caretakers operating small businesses of oneor two people maintaining complexes of less than 110 apartments. An $8 billion sector is very much powered by small businesses.

As for management rights transactions, we’re in a twotiered market at present. This seems to be the case for most accommodation property asset classes at the moment and management rights is no exception. For small- to middle-tier properties, deals are still transacting, but there’s no denying interest rates and inflation are pinching. This is especially true of management rights that are coupled with a caretaker’s unit. If you’re buying an apartment of any decent value together with a management rights and letting business that’s not netting much, there’s less left over once you factor in your interest payments. This makes them less attractive, but I don’t want to overstate the effect of interest rates and inflation too much. As I said, the market is still active, though undoubtedly it’s taking longer to match properties with buyers and deal times are stretching out (so sellers with an exit timeframe in mind need to factor this in).

The strength of the management rights industry is underpinned by the strength of the model. For operators,

At the top end of the market, highly desirable assets continue to attract large pools of buyers vying for them.

7 Four of the Best Across Australia

SOLD

Oceans Mooloolaba Beach_Mooloolaba QLD Our dynamic duo of Glenn Millar and Chenoa Daniel set a new record of $11.2M for a management rights business on the Sunshine Coast with the sale of this absolute pearler. The off-market deal saw the management rights for the 46-apartment luxury complex change hands from vendors Vince and Sue Galle, who operated it since 2009, to Ben Orton’s Prestige Residential. Superb job, Glenn and Chenoa, and hearty congrats to Ben and the Galles on a great outcome.

SOLD

The Presidential_Mount Gambier SA

Words_Trudy Crooks, Managing Director

Our South Australia broker Kelli Crouch sold the freehold going concern of this Mount Gambier hotel for its asking price in an off-market deal. The 53-room hotel was a finalist in this year’s AHA|SA Hotel Industry Awards for Excellence and occupies prime street frontage along the Jubilee Highway. ResortBrokers’ great strength is our exceptional buyer network. When vendors engage us, we’re often able to match up buyers straight away without going to market, as Kel did here.

SOLD

Due to that competition, we’re seeing similar, if not better, sales prices than usual. And that’s despite interest rates. This is particularly the case with high netting permanents, which seem to be bomb proof at the moment. Regionally, particularly North Queensland, large-scale management rights are selling really well because they’re high netting and the multipliers are lower. So, they are very attractive to investors, especially syndicates and the big end of town who are chasing high quality passive investments. I’d like to finish on a different note altogether. By the time you read this, I’ll be on holiday. We all need to recharge once in a while, and taking breaks gives us the opportunity to rest and come back reenergised. Owning an accommodation business is hugely rewarding, but it can also be unrelenting, especially for smaller operators who are short on hands-on help. Burnout happens in our industry all too frequently, and when it does it can impact your business. While no one can look after your business like you can, there are many reliable relief managers who can take care of the home front while you take a needed break. Our list of relief managers at the back of the magazine (as well significantly more at resortbrokers.com.au/buy/relief-managers) may help you find someone who can mind the store while you get some well-deserved R&R. See you bright-eyed and bushy-tailed in 2024! END

Quest Wodonga_Wodonga VIC Regional leaseholds are in huge demand, especially when they come in the form of Quest, Australia’s largest and most successful apartment hotel brand. Jacqueline Featherby, our broker for NSW Central Coast, Hunter & Blue Mountains, sold the leasehold of the 80-apartment Quest Wodonga for its asking price of $4.2M within three weeks.

SOLD

Hotel Corones_Charleville QLD Who says the old move slowly? Hotel Corones turned 94 this year, but our broker Jason Vogler had it sold and settled inside four days! The freehold going concern of Charleville’s most famous landmark was snapped up by a cash buyer attracted by the hotel’s tip-top condition, large 50-room offering, thriving outback location and, of course, its stately presence on Wills St in the centre of town.

Sales Activity

QTR 2

Our Top Recent Sales & Listings We’ve been experiencing exceptionally high demand across all accommodation asset classes. Here’s a selection of some of our biggest and best sales and listings. LISTING

UNDER OFFER

BAYSHORE BUNGALOWS FREEHOLD, BYRON BAY, NSW

HAVEN MANAGEMENT RIGHTS, BRISBANE, QLD

An exceptional freehold opportunity to enter Byron with a boutique accommodation offering of 14 individually crafted bungalows.

The management rights to this luxury 220-unit complex in Brisbane’s inner-city is under offer.

Tim Crooks M: 0417 544 562 Frank Matus M: 0435 742 698

Miguel Bozina M: 0419 848 444

SOLD BLAZING STUMP MOTEL & SUITES FREEHOLD, WODONGA, VIC This hot property sold and settled within 11 weeks of listing to a cash buyer who paid the seller’s asking price of $13M for this 66-room motel.

Trudy Crooks M: 0477 882 210

UNDER OFFER CENTRAL COAST MOTEL & MOBILE VILLAGE FREEHOLD, WYONG, NSW This large portfolio comprising a passive investment motel, adjoining freehold mobile village and neighbouring two-bedroom house is under offer.

Jacqueline Featherby M: 0424 497 056

SOLD GASWORKS RESIDENCES MANAGEMENT RIGHTS, BRISBANE, QLD The business-only management rights to the 181-unit luxury Gasworks Residences has sold.

Tim Crooks M: 0417 544 562 Frank Matus M: 0435 742 698

UNDER OFFER FORBES CARAVAN & CABINS FREEHOLD, FORBES, QLD This Forbes caravan park set across 125 ha in NSW’s Central West is under offer.

Chris Kelly M: 0431 055 221 resortbrokers.com.au

LISTING

CASINO MOTOR INN FREEHOLD, CASINO, NSW

QUEST PALMERSTON INVESTMENT, PALMERSTON, NT

Profitable 30-key motel business with potential for diversified income and excellent regional investment yield.

Rare opportunity to buy the passive freehold of the only Quest property in Darwin, the 84key 4-star Quest Palmerston.

Miguel Bozina M: 0419 848 444

Kelli Crouch M: 0410 441 750

LISTING CHARLEVILLE MOTEL LEASEHOLD, CHARLEVILLE, QLD Invest in this 27-room motel’s untapped potential with a favourable lease and room for occupancy growth.

Jason Vogler M: 0427 431 213

SOLD THE RISE APARTMENTS MANAGEMENT RIGHTS, NOOSA HEADS, QLD The management rights to this 4.5-star 39-unit luxury resort has sold.

Chenoa Daniel M: 0403 143 151 Glenn Millar M: 0412 277 804

SOLD THE JETTY RESORT MANAGEMENT RIGHTS BUSINESS ONLY, ESPERANCE, WA This 35-unit luxury resort in gorgeous Esperance on the south coast of Western Australia has sold.

Blair Macdonald M: 0433 149 144

UNDER OFFER CIENNA VARSITY RIDGE OFF-THE-PLAN MANAGEMENT RIGHTS, VARSITY LAKES, QLD SOLD OCEAN BREEZE MOTEL LEASEHOLD, PORT MACQUARIE, NSW This nifty 10-key beachfront motel just minutes from central Port Macquarie has sold.

Joshua Roberts M: 0439 654 464

The management rights to this large, 257-apartment complex set across four towers in the Varsity Lakes master-planned community is under offer.

Todd Warner M: 0438 170 763 Alex Cook M: 0467 600 610

resortbrokers.com.au

Feature

n Game On Game O Brisbane is primed for a golden era of development leading up to the 2032 Olympics. Two titans of Queensland’s building and construction industry share their views on what the Games will mean for Australia’s third largest city. Words_John Miller Between them, Queensland giants Hutchinson Builders and Consolidated Properties Group have 155 years’ experience in the building and construction space. Today, they are major national players, but both remain headquartered in Brisbane having made their start there; Hutchinson as a builder in 1912, Consolidated as a developer in 1979. Since their respective inceptions, both companies have been instrumental in developing the River City’s urban landscape into what it is today. So, we can’t think of anyone better placed to provide

us with a long view of what the Olympics will mean for Brisbane’s evolving story, as well as the hurdles the city may encounter in the race to get ready for the starting pistol on 23 July 2032. Hutchinson and Consolidated are something of a pair. They are entirely independent but enjoy a longstanding business relationship born from the close friendship between their two respective chairmen, Scott Hutchinson of Hutchinson and Don O’Rorke of Consolidated, who went through

Brisbane Boys’ College together. O’Rorke describes their developer/ builder relationship as “hand in glove,” though he says neither he nor Hutchinson want to be what the other is. The latest iteration of their collaboration is Monarch Residences, a $450 million luxury apartment project that Consolidated is developing and Hutchinson is building. The two-tower precinct occupies a 1.2 ha site with 130 metres of premium river frontage at Toowong, just west of downtown Brisbane. The development has proved hugely popular among wealthy western suburbs downsizers, with over 170 of the 244 apartments having sold off the plan for a development that only broke ground in May and is scheduled for completion in late 2025. Monarch Residences’ website is spruiking the development as “150 years in the making”

on account of Middenbury House, a stately heritage-listed home dating from 1865 that will be repurposed as a restaurant around which the residential precinct will be built.

World War II were Expo [in 1988], the Commonwealth Games [in 1982], and, completely differently, [Brisbane Lord Mayor] Clem Jones sewering the city [from the 1960s through to the 1980s].

Maintaining a sense of history is not only at the heart of Monarch, but also at the heart of O’Rorke who spoke about honouring the past at the development’s breaking ground ceremony. It’s within this broad historical framework that O’Rorke offers his perspective on the Olympics’ future impact on Brisbane.

“The Olympics will be the next inflection point in Brisbane’s history.”

“I think the Olympics will be the next inflection point in Brisbane’s history,” he says. “The three previous inflection points after

“They were important inflection points in Brisbane’s growth and we’re heading to being a world city now, one that’s equal but different to Sydney and Melbourne.”

Brisbane has long been derided by residents of its two larger southern rivals, as well as some of its own residents, as a “big country town.” Both cities have already hosted the Olympics. Melbourne, long ago, in 1956; Sydney, more recently, in 2000. O’Rorke suggests it’s high time Australia’s next Olympic city sheds its inferiority complex and emerges from their shadow. “For too long, we’ve measured ourselves in relation to those two cities,” says the 62-year-old. “We’re no longer talking about Brisbane as relative to Sydney and Melbourne. We now measure ourselves as a city that’s part of the Asia-Pacific region. We’re a really good alternative to Sydney and Melbourne.

From left: Scott Hutchinson, Jack Hutchinson Jnr, Don O’Rorke, Rohan Davis (Qualitas), James MacGinley (Consolidated), James Mackay (Walter Taylor Ward Councillor)

Feature

“Those who migrate to Brisbane can buy a house that will cost 70 per cent of what they’re selling out of in Sydney or Melbourne. And the sky is blue, living costs are lower, there’s a thriving restaurant and cultural scene and it’s much easier to get around. It’s a good place to be.”

“Brisbane is on the up psychologically compared to Melbourne.” “The Olympics is taking the city forward even more,” he adds. “We’re already experiencing unprecedented interstate migration, with tens of thousands of new residents moving here. The Olympics is one of the reasons they’re coming. But it’s also climate, job opportunities, and because Melbourne, and Sydney to a lesser extent, was so bad during Covid. “Sydney is probably tracking as it has always tracked. But Melbourne is a different city to what it was pre-Covid. Brisbane’s Lord Mayor talks about Melbourne today as a defeated city. That’s been reinforced by them walking away from the Commonwealth Games. Look at that in comparison to Brisbane. Melbourne, lose Commonwealth Games. Brisbane, win Olympics. We also enjoyed a lot of freedom during Covid compared to Melbourne’s terrible lockdown, the second worst in the world. Brisbane is on the up psychologically, as well as in terms of population and economic growth. All our markers are on the way up. Melbourne’s are largely on the way down.” Jack Hutchinson Jnr agrees it’s time Brisbane buries its reputation as a big country town once and for all. “Brisbane has good energy,” he says. “It’s a legitimate city now. It’s got a different atmosphere to Sydney and Melbourne, and it’s got a lot of things going for it that those cities don’t.”

Hutchinson is the fifth generation of the family business, which was founded by his namesake John “Jack” Hutchinson, an expatriate Englishman who migrated to Brisbane in 1911. Now a director, Hutchinson is set to succeed the chairmanship of the company when his father, Scott Hutchinson, eventually retires. The 31-year-old brings a youthful perspective in terms of how he sees Brisbane, as well as the perspective of distance, having recently spent two years abroad completing an MBA at London Business School, returning to Brisbane in 2019.

Jack Hutchinson Jnr, Director Hutchinson Builders

Don O’Rorke, CEO & Chairman Consolidated Properties Group

“While I was in London, Hutchies built Howard Smith Wharves, so coming back there was a whole new restaurant and leisure precinct. Then you’ve got Queen’s Wharf, which is going to add that sort of ritzy casino element that Melbourne has in Crown and Sydney has in Barangaroo. I’m sure Brisbane will be fantastic for the Olympics and I’m sure the Olympics will benefit the city. It will certainly change people’s perception of Brisbane. I’ve always thought Brisbane is a fantastic city, and it's only going to get better. I don’t have nerves around how the Olympics will go. I’m sure it will be fantastic and I’m sure people will come away saying Brisbane nailed it.”

“Brisbane has good energy. It’s a legitimate city now.” While Hutchinson has no concerns Brisbane will deliver an exceptional Olympic Games, he is apprehensive about the tight building timeline, even with nine years to run. “There’s heaps of time, there’s nine years, it shouldn’t be an issue, it’s just that the building and construction industry is already under pressure,” he says.

Feature

“Because the construction sector has been so stretched recently, my only fear is the amount that needs to be done from an infrastructure point of view. I think what’s had to happen is to allow capacity to build all the Olympic stuff they [the state government] brought forward a lot of social infrastructure before then. At the moment, most of the Olympic stuff is in the planning and design phase, but to allow capacity to build that in 2026, 2027, 2028 and 2029, they’ve brought forward a lot of hospitals, schools, correction centres, etcetera. We’ve now got this massive rollout of infrastructure that needs to be built. “The other thing is that we’re going to have to keep up with new housing supply. There’s going to be more interstate migration, and international migration is back now too. So, I just think that balance of how much capacity there is to build private sector work, new apartments, new office towers, etcetera, versus the capacity to build all this government work for the Olympics is a concern. At the moment getting through that is the industry’s big challenge.”

Both Hutchinson and Consolidated will be major players in the lead up to the Games. Hutchinson has been given the contract to build the $360 million expansion of The Prince Charles Hospital in Chermside in Brisbane’s north. Jack Hutchinson says he expects Hutchinson will tender for Olympic projects in the run up to the Games. “We’re going to vie to do our share of everything whether it’s sports facilities for the Olympics, but also lots of other development that needs to be done in Brisbane before then,” he says. “The big obvious one is the Olympic Village itself, which will be build-to-rent style residential towers, which are our bread and butter. So, we’ll certainly be interested in that too.” A Hutchinson-Consolidated collaboration nearing completion is the $850 million Yeerongpilly Green Riverside, the largest suburban renewal project ever undertaken in Queensland, which Consolidated is developing in partnership with Economic Development Queensland, an agency of the state government, and CVS Lane Capital Partners.

The sprawling 1,200-apartment and village hub covers 12 ha just south of the Gabba Olympic precinct and is adjacent to the Queensland Tennis Centre which will be the Olympic tennis venue. O’Rorke says one of Brisbane’s great strengths over its southern rivals is that it has always had the benefit of forward-thinking, growth-orientated state and municipal governments.

“Brisbane has been very pro-development all its life.” “Generally speaking, Brisbane has been very pro-development all its life,” he says. “One of Brisbane’s advantages is that its council is large, well-resourced and able to deal with development. If you look back in history, it was sensible enough in 1926 to amalgamate the 20 or so councils into one big council. The same geographical area in Sydney or Melbourne would contain 25 councils, which tend to be under-

Yeerongpilly Green

resourced, very parochial and have a ‘not in my backyard’ approach to development. Very difficult to deal with mostly. So, Brisbane has been on the up and up going right back to that 1926 amalgamation. “I haven’t seen any change in that attitude across Labor or conservative councils right up to the present. The current council, which is predominantly conservative, is very user-friendly. It’s userfriendly from our perspective as a developer, but also user-friendly in terms of the communities we serve. It listens to people on what their view of development is. They’re not just a developers’ council, they’re a generally wellresourced competent body for approving development. “People will be looking to invest capital into this region in the run up to the Olympics and in the decade after. There’s a lot in the media of the difficulties Brisbane has in dealing with its growth. But what I would say is, growth is a great problem to have. If we didn’t have growth we’d really be in trouble.” END

Success & Succession In an industry that frequently sees developers and builders go to the wall, especially in recent times, Hutchinson and Consolidated haven’t just survived, they’ve thrived. Here, they share insights on what’s made their success possible, as well as some thoughts around succession. MANTRAS Don O’Rorke: “We’re opportunistic in our approach, more than strategic. We go where the deals are. We have this adage: Look at 100 things to open a file on 10 to do one. If you come into the office every day, stay all day and are active in the market, things will pop out.” Jack Hutchinson Jnr: “We have a golden rule: Anyone can call anyone about anything at any time. That applies whether you’re a team member or chairman. Hutchies operates on a decentralised structure, which is rare in our industry. Instead of separate departments, each of our 26 construction teams is entirely responsible for their own projects. This comes from our thinking around accountability firstly, but also around talent attraction and retention. If you let people self-actualise; that is, allow them to think and make decisions for themselves as opposed to just following a rigid formal process, it gives them a feeling of control in their everyday work. That way they’re more likely to be motivated and enjoy their job.” ON SURVIVAL Don O’Rorke: “There’s two things. We’re customer focused and we’re risk focused. We believe our service to the industry is to provide places where people can live, shop and work. If we satisfy the needs of our customers, who are the occupants of those buildings, we can create a viable property transaction. If we’re always thinking about our customers that keeps us pretty grounded. The second thing is we believe we’re a company that’s driven by identifying risk and mitigating those risks. We think the four principal risks in development are delivery, leasing, sales and funding.” Jack Hutchinson Jnr: “We haven’t been immune to the challenges of the last two years. But we’ve still outperformed our

peers and have had the financial safety net some other builders who’ve gone into insolvency haven’t had. Hutchies has had periods of strong development over the decades, but the main thing is that our shareholders don’t extract dividends. If we have a good year, that money stays in the business to protect the business, or it’s reinvested in things like our fleet of 30 or so own cranes. We don’t take money out of the business to buy boats or planes or invest in other assets. That’s probably one of the main reasons why we’ve managed to survive.” ON SUCCESSION Don O’Rorke: “We’ve done 40 years, but we’re definitely planning for the next 40 years in terms of our organisational structure, people and capital base. I’m 62 so, clearly, I won’t be running Consolidated at 102. I’ve got to be conscious of making sure I go through the succession planning process and still be a positive contributor and not a break on the business.” Jack Hutchinson Jnr: “My main goal is always to survive for another generation. It sounds like quite a low ambition, but the chief goal is always to look after the place as a steward for the next 30 years and then hand it over to a daughter or son of my own. Obviously, along the way we want to build stuff we’re proud of and that adds value to society and be a great place for people to work.” MEMORABLE PROJECTS Don O’Rorke: “There are two. One is the Commonwealth Law Courts [completed in 1993] on North Quay [in Brisbane]. We started the project when I was in my mid 20s. It was $130 million and an enormous project for us at that stage in terms of my age as well as our experience. The second landmark project was Casuarina [completed in 2015]. That was a $1 billion master-planned community where we got to create a whole town on 3.5 km of beachfront in Northern New South Wales. Consolidated has gone on to develop many projects because of Casuarina, in the same way the Commonwealth Law Courts opened many doors for us.” Jack Hutchinson Jnr: “We build around 180 projects a year, so there are many across the country to be proud of. But Brisbane Skytower certainly, which at 90 storeys is the tallest residential complex in Brisbane. On a personal note, I was part of the cost planning team that priced the project, so seeing it built has some sentimental value.”

Feature

Extreme Makeover:

Olympic Edition

Brisbane is getting ready for its close-up. The 2032 Games will see the River City transformed with sparkling new venues, interconnected transport infrastructure and lush green spaces.

OLYMPIC STADIUM, WOOLLOONGABBA

The Gabba will be the epicentre for the Games. The Gabba stadium is every bit the ugly duckling at present, but a $2.7 billion rebuild to commence in early 2026 will transform it into a graceful swan for the opening ceremony. 2

STATION PRECINCT, WOOLLOONGABBA

Woolloongabba Station Precinct will be a new mixeduse hub, linking commercial, residential and retail venues. A new $450 million underground bus station will be built nearby, linked to the Cross River Rail.

CROSS RIVER RAIL, CITYWIDE

Scheduled for completion in late 2024, the $6.3 billion Cross River Rail will connect Brisbane’s inner south to its inner north via a 10.2 km rail line from Dutton Park to Bowen Hills, including 5.9 km of twin tunnels under the Brisbane River and CBD. 4

BRISBANE ARENA, ROMA STREET PARKLANDS

The new 15,000-seat arena will host all Olympic aquatic events, including swimming, diving and water polo. Construction of the $2.5 billion project, to be built over the new Roma St train station, will start in 2027.

BRISBANE INDOOR SPORTS CENTRE, ALBION

A new 12,000-seat indoor sports centre will host all Olympic basketball events. 6

ATHLETES’ VILLAGE, NORTHSHORE HAMILTON

The largest waterfront urban renewal project in Queensland is expected to do for Northshore Hamilton what Expo 88 did for South Bank. For the Games, the Athletes’ Village will house more than 10,000 Olympians. Afterwards, it will be put to use for residential living, including social housing and aged care.

Faces of the Industry

journey

A motelier’s Australian Accommodation Property Group’s Gareth Oakley reflects on his more than three decades in motels from making beds to making money running a portfolio. Words_John Miller

Gareth Oakley’s long career in the motel industry began in 1989 when he was in Year 10. His parents built the family’s first motel, the 22-room Victoria Lodge Motor Inn in Portland, about four hours’ drive southwest of Melbourne along the Victorian coast. Oakley got his start making beds, and then later as relief manager eight times a year during term holidays when he was at college. Thirty-four years on, the family still owns Victoria Lodge as a passive motel investment. Today, as Managing Director of Australian Accommodation Property Group, which runs a successful portfolio of several motel freehold investments, Oakley says he doesn’t get sentimental about business decisions. Letting go of Victoria Lodge might be a little different though. “I guess when the decision comes, that one may be emotional,” he says. “However, that’s likely some time off yet.” As well as Victoria Lodge, Australian Accommodation Property Group owns the passive freeholds of the

28-room Albury Burvale Motor Inn, the 70-cabin Chinchilla Tourist Park, the 31-room Karinga Motel and the 36-room Emerald Explorers Inn, the latter bought through ResortBrokers’ Chairman Ian Crooks. The group has previously owned motels in Geelong, Warragal, Gympie and the Clare Valley. “Our investment focus is motel freeholds,” says 50-year-old Oakley, who is based on the Gold Coast. “Other groups operate leaseholds and freehold going concerns, but we’re a bit different in that we only buy motel freehold investments. We’re not opposed to buying freehold going concerns if they meet our criteria, but our primary focus is on investment properties. “We look for the fundamentals of lease length, quality of the lease – that is to say, the obligations on both tenant and landlord — and, of course, yield. We have minimum standards we need to achieve at purchase, and we also assess what’s achievable over a five- to 10-year timeframe in terms of rent and potential resale value.” Having cut his teeth working for the family motel, Oakley undertook

a three-year Advanced Diploma in Hospitality Management, graduating in 1996. This led to his first frontof-house position as night manager for the 4-star Lakes Hotel Resort in Adelaide from 1995 to 1997 where he worked while completing his studies. He later worked, also as night manager, from 1997 to 2000 for the then Rydges Carlton in Melbourne. “As night manager, you are it,” says Oakley. “There’s no one else onsite until 6.30 am. That’s seven hours by yourself. So, you’re really kept on your toes. That’s manning reception, checking guests in, doing concierge, counting cash from all the bars, putting it in the safe, setting roomservice trays up, basic housekeeping, in-house security and reconciling the days takings. “You also learn customer service skills and dealing with the public. You’re dealing with different clientele, a lot of people. People who are angry because their room isn’t ready, or they’re upset because their room isn’t up to the standard they were expecting. That’s where having that grounding can take you forward into running your own motel.

Faces Of The Industry

“If you don’t have the right demeanour or the right customer service skills to deal with people, then you’re going to come across as either abrasive or with no authority.” Oakley credits these early experiences with helping to make him a more astute and effective investor. “It helps as landlord to understand what your operators are going through,” he says. “I can almost anticipate issues coming up and show a bit of compassion when it’s needed because I’ve been there and gone through it.” In terms of advancing from working in a motel to becoming an owner of one, Oakley says it helps to have worked your way up through the ranks. “Most motel investment owners started off as leaseholders and then progressed to a freehold going concern,” he says. “This then leads to them selling off the lease and retaining the freehold. Buying a freehold is a substantial investment and it’s generally only later in life that you have that type of money behind you. “Before buying a leasehold it’s preferrable you have exposure to having worked in a motel, whether it’s as a receptionist, housekeeper, cook or whatever, so you know the mechanics of how a motel works. Some motel operators fail where they haven’t had exposure to it, or they think it’s easy to run a mum-and-dad motel.” After working for Rydges, he spent almost a decade with Harcourts in Geelong as a commercial real estate agent. He continues to provide consultancy services to his old firm when required.

Victoria Lodge Motor Inn

“As an agent, I was dealing with considerably more properties, landlords, tenants and solicitors on a daily basis,” he says. “Having the experience of being able to read and interpret leases and legislation I’ve taken into my current role as motel investor. This is crucial when analysing the viability of new properties.” He says the experience as a commercial real estate encouraged him to switch from being a seller to becoming a buyer/investor.

“It helps as landlord to understand what your operators are going through.” “After a time, I could see there was scope to develop the ideas I had for setting up an investment entity. It just seemed the right time to step away after 10 years running the commercial department at Harcourts to focus on the motel side of our investments. So, that role gave me the confidence, experience and knowledge to move forward with what I’m doing now.” Oakley says another ingredient to succeeding as a motel investor is to read widely. “My reading habits haven’t changed in quite some time,” he says. “Every morning, I read a number of industry newsletters, both hospitality and general finance ones.” Quarterly publications such as Informer, REIT updates and reports

Chinchilla Tourist Park

from valuers also form part of his reading habits. “So, it’s not only staying in touch with what’s happening in the motel sector but the wider property market and economy as well,” he says. “I take it all in, then form my own judgement on what I think is going to happen.” Important to succeeding as a motel freehold portfolio manager is to use experienced industry professionals, says Oakley. “Speak to brokers, speak to your accountant and, most importantly, seek advice from an experienced hospitality solicitor,” he says. “That’s true whether you’re buying a freehold investment or a leasehold. I can’t emphasise that last part enough because I’ve been on the other side of deals where the other party has used a solicitor without motel leasing knowledge, and invariably transactions are held up due to that inexperience. Liquor licences, lease extensions and lease transfers are all areas that benefit from dealing with a solicitor who has industry experience.” Reflecting on his more than threedecade career, Oakley says he’s still enjoying the journey. “I enjoy the variety of the work,” he says. “Every lease is different. Every property is different. It’s the challenge of being ahead of the game and choosing the right property and having the knowledge so that you can make sound decisions. It’s not a nine-to-five job. That’s what I find interesting, and I like to think I know what I’m doing.” END

Emerald Explorers Inn

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Feature

Hail the

Queen’s Wharf is Brisbane’s regal proclamation of its world-class status ahead of the Olympics. Leading its delivery is Simon Crooks, who spoke to Informer in the lead-up to the precinct’s staged opening expected from April 2024. Words_John Miller

When South Bank Parklands opened to the public in 1992 it gave Brisbane more than a new landmark, it also radically altered public perception that the city’s murky river was a signature feature to be enjoyed, appreciated and even celebrated. Brisbane adopted its “River City” moniker and has embraced it ever since. Now, more than three decades later, a glittering colossus of glass and steel with parkland of its own is nearing completion on the opposite side of the river facing South Bank. It, too, promises to drastically shift perceptions of Brisbane once again. “Cities move in step change,” says Simon Crooks, Project Director of Destination Brisbane Consortium, the group delivering Queen’s Wharf Brisbane. “They have a period of five or ten years when there’s a massive explosion in investment that radically transforms them. Queen’s Wharf is one of those investments.” The $3.6 billion Queen’s Wharf is quite an investment. It is the single most expensive private construction project ever undertaken in Queensland, as well as one of its largest. The leisure and entertainment precinct covers 10 per cent of Brisbane’s central business district, spanning four city blocks of prime river frontage from Alice to Queen Streets. Crooks, 59, a civil engineer by training, has been there from the start, having led the delivery of the precinct since April 2016.

Artist impression

“There was a vision to revitalise the north side of the river,” he says. “South Bank was an opportunity for families and their children to engage. Queen’s Wharf is an opportunity for adults to engage. Together, South Bank and Queen’s Wharf complement each other with the two precincts activating along the river.” Queen’s Wharf will sport a raft of swanky dining destinations, a grand ballroom, four luxury hotels and a casino, all set within a seductive architectural aesthetic. Framing the precinct are two graceful highrises: the 64-storey Queen’s Wharf Residences to the south and a 40-storey tower to the north, which will house both the Dorsett and Rosewood hotels.

“South Bank was an opportunity for families and their children to engage. Queen’s Wharf is an opportunity for adults.” Queen’s Wharf’s centrepiece will be two arc-shaped towers, both 23 storeys high, which will house The Star Brisbane’s 5-star hotel, The Star Grand. The towers will be connected by the precinct’s defining characteristic, the 250-metre-long Sky Deck facing the river. Sky Deck sits 100 metres above street level and promises views as far as Moreton Bay. But it is the views of the Sky Deck that featured prominently in its design.

Feature

“City grids are mostly orthogonal structures,” explains Crooks. “But this precinct is not orthogonal, it’s actually very organic and it’s really responding to the shape of the river. Everything for us is about embracing the river. So, the design of the precinct was to be much more organic, especially that double curve on the two towers that face the river. They were a challenge to build, but it’s the right solution to draw people’s eye to their curvilineal form and to reflect the organic nature of the river.

like Queen’s Wharf, is a leisure and entertainment precinct with hotels and a casino. He says there’s a crucial difference, however.

“The idea was to make this precinct attractive to the eye, as well as flexible. You get amazing light reflections as the sun moves around because it doesn’t really turn a corner. It sort of moves with the radial nature of some of the building forms, especially Sky Deck.”

“The idea is to attract tourists and be a place of pride for locals. Our design principles have always been about providing as many spaces as possible, be they vertical or horizontal. Pretty much every exposed part of this precinct is designed so that the public can experience it to its full potential.”

Crooks freely admits Sky Deck was inspired by SkyPark, the observation deck that sits atop the three towers of Singapore’s iconic Marina Bay Sands, which,

“During the bid, two of the consortium members flew to Marina Bay Sands to look at the connectivity of SkyPark and decided it was an outstanding idea to do something similar here,” says Crooks. “The key difference was that we were going to make it free to the public. Ours would be an area where tourists could sit, dwell, have a drink, go to restaurants and enjoy the view.

Queen’s Wharf’s public realm covers more than 7.5 hectares and includes several parks and courtyards, as well as a Leisure Deck on top of

Artist impression

Sky Deck offers views as far as Moreton Bay Artist impression

the podium on Level 7 that offers dining, a pop-up open-air cinema and markets. “There’s a lot of public realm and that’s deliberate,” says Crooks. “It’s designed to activate the precinct and create community spaces. The Leisure Deck on top of the podium is the same, it had to be activated, open to the public and free to use.”

directly to South Bank, but particularly to South Bank railway station. Our modelling shows about 10,000 crossings daily over the bridge. That led us to making sure they had some place to enjoy and use, so the bridge now connects directly with Level 4’s food and beverage terrace facing the river and the retail facing George Street.”

“We realised that connectivity would be maximised by connecting directly to South Bank.”

Crooks says connectivity is at the heart of the precinct’s design. Public spaces have been crafted as areas that link together but can be used separately. The masterstroke was having the Neville Bonner Bridge, which links Queen’s Wharf to South Bank, connected directly with the Level 4 restaurant and retail terrace within the main resort.

The casino is the only part of the precinct that won’t seamlessly connect with the rest, which Crooks says is intentional.

“That wasn’t in our original bid, we added it in later,” says Crooks. “We realised that connectivity would be maximised by connecting

“We are proud that in the early stages of construction design we made some deliberate decisions to benefit the community and it was the retail,

food and beverage offerings that needed to be integrated with the city and its locals.” Destination Brisbane Consortium is led by ASX-listed The Star Entertainment Group together with Hong Kong-based Far East Consortium and Chow Tai Fook Enterprises. Having two Hong Kong partners played a part in influencing the precinct’s architectural design, says Crooks. Some Hong Kong buildings have what is known as “dragon gates,” which are ‘holes’ in a building through which spirit dragons may fly. “We had a feng shui consultant engaged very early on,” he says. “It’s like breathing in Hong Kong, it’s quite normal in construction there. The slot between the two curved towers that face the river, that design was driven cognisant of feng shui principles.”

Feature

The Star Grand is the precinct’s drawcard hotel

Queen’s Wharf will have four hotels: the five-star 340-key The Star Grand occupies the two arc-shaped towers, with the four-and-a-half-star 372key Dorsett and six-star 150-key Rosewood occupying the bottom and top halves of the north tower respectively, and the heritage-listed Treasury Hotel.

“The slot between the two curved towers that face the river was driven cognisant of feng shui principles.” “The idea is that you’ve got something for everybody in this precinct,” says Crooks. “The Star Grand is really the engine room of the resort. We wanted as many rooms as possible because that’s the drawcard hotel. The four-anda-half-star is the Dorsett, owned by Far East Consortium, which is wellknown throughout Asia and Europe and first introduced to Australia via

The Star’s Gold Coast property in late 2021. It’s a beautiful design and a really affordable tourist product. The six-star is the Rosewood. The idea is if you want to go somewhere really special, that’s it. The Rosewood will be a destination in itself.” Queen’s Wharf has nine heritage buildings and two heritage parks: Queens Gardens, which dates from 1905, and Miller Park, which has been a government reserve since the end of convict transportation.

“The idea is that you’ve got something for everybody in this precinct.” The name Queen’s Wharf Brisbane itself pays homage to the site’s former incarnation as a commercial dock. The site ceased operating as a working wharf when the Riverside Expressway was constructed in the late ‘60s, early ‘70s.

Artist impression

“This part of the city has a massive amount of history,” says Crooks. “It was the growth centre of where modern Brisbane grew from.

The name Queen’s Wharf Brisbane itself pays homage to the site’s former incarnation as a commercial dock. It’s the highest part of the central business district in terms of flood mitigation, hence historically all the government buildings were based here. When we were excavating the site, we unearthed the original in-ground power conduits, Edison Tubes. Brisbane was the third city in the world to have reticulated underground power after London and New York.

Artist impression

“The site was originally called King’s Wharf under George IV,

then it became Queen’s Wharf under Queen Victoria.” Though Queen’s Wharf has a sense of history, it’s the future that has guided Crooks in leading the development. Under the terms of the arrangement, the Queensland Government retains ownership of Queen’s Wharf, which Destination Brisbane Consortium will operate under a 99-year lease.

“Brisbane was the third city in the world to have reticulated underground power after London and New York.” “I have to remind people, we’re developing it, we’re not walking away from it,” he says. “We’re operating it for 99 years. Every decision we’ve made is based on whether it’s the right decision for a precinct that will live in the long term.” END

Analysing an $8B Industry

Management Rights Report 2023 ResortBrokers Research Management Rights Report 2023 builds on last year’s landmark report, the first-ever quantitative analysis of Australia’s management rights industry. Management Rights Report 2023 is a must-read for management rights operators, strata managers, industry bodies and investors looking to gain a greater understanding of this $8B national industry. Key content in the report includes: - Recent trends in the MR sector - A short- to medium-term industry outlook - Regional overviews of local MR markets - Ranges and averages of recent multipliers - Case studies of landmark MR sales - Super rights transactions

Special Feature_ResortBrokers Sponsored Event

Inner Circle Forum 2023 Like its 11 previous iterations, EarthCheck’s Inner Circle Forum 2023 (ICF23) brought together global thought leaders to discuss pressing global issues. Principally, how the world’s travel and tourism industry can be put on a more sustainable footing to tackle one of the world’s most urgent challenges, climate change. Held at the Brisbane Convention and Exhibition Centre on 28 August, ICF23 saw a record attendance of over 120 travel and tourism industry professionals gather for EarthCheck’s flagship annual forum. ICF23 welcomed delegates from all over the world, with attendees from Japan, Fiji, Mauritius, Hong Kong, Dubai, Singapore and elsewhere. Minister for Trade and Tourism Don Farrell opened ICF23 via video link before the forum launched into its three main topics: What is ESG and how does it impact me? What does ‘sustainable’ really look like? and Is net-zero an achievable goal or elusive ambition? The forum saw high-level presentations by a range of tourism industry professionals from the United Kingdom, Japan, the Azores (Portugal), Fiji and New Zealand, as well as Australian experts led by EarthCheck’s CEO & Founder Stewart Moore. Eager to convert the knowledge shared throughout the day into tangible targets, the forum settled on several action points. The first session of the day focused on ESG (environmental, social and governance), an emerging reporting system to measure sustainability and success in businesses, a concept the panellists urged was here to stay. Michael Duggan,

EarthCheck’s 12th annual sustainable tourism forum was a spirited call to action. Words_John Miller

Director, Sustainability and Climate Change Risk at global law firm Ashurst, stressed the need to “say what you mean and do what you say” when implementing ESG reporting and not to overcomplicate the process. The second session revolved around ongoing sustainable destination management and the conception of EarthCheck’s Leading Destinations of the World™ program. The panellists urged that Destination Management Organisations (DMOs) must become advocates, leaders and change agents in their regions to enable positive outcomes to be harnessed in a meaningful way. The Leading Destinations of the World™ program provides responsible destinations with the ability to share best practices, challenges and successes regarding their respective sustainability journeys. The final session featured discussion about net zero and the practicalities behind decarbonisation. The key takeaways were that the science of net zero is clear, but the practice is not, and that there is a need for clear targets to be set to reduce fossil fuel emissions and restore our ecosystems. To help make this possible, passion and commitment from stakeholders and employees, and a strong strategic plan for achieving net zero within current timelines, is required. EarthCheck has developed bespoke software and programs to assist tourism and hospitality businesses looking to invest in their sustainability journey to collect and collate data to support reporting requirements. For more information on ESG services and benchmarking with EarthCheck or Inner Circle Forum, head to earthcheck.org. END

EarthCheck CEO & Founder Stewart Moore

Special Feature_Company Announcement

ResortBrokers ResortBrokers’ expansion into the South Pacific extends our operations outside Australia for the first time. Words_John Miller

With all necessary licenses in place, ResortBrokers has expanded its footprint outside Australian shores for the first time with a broker in Vanuatu. Our presence in the South Pacific island nation extends our reach beyond our long-established network of over 30 brokers across Australia. “Our international expansion is the next step in ResortBrokers’ evolution,” says Managing Director Trudy Crooks. “We’ve grown from a statewide agency into a nationwide agency and now we’re international. We’ve built our reputation over almost four decades as an accommodation property specialist that delivers results. As such, we’re constantly approached to sell accommodation properties both here and in the region. We already have several listings in Vanuatu, so establishing a formal presence there makes perfect sense.” Spearheading ResortBrokers Vanuatu is veteran New Zealand real estate agent Neil Hamilton. Hamilton, a former Chairman of First National New Zealand, has lived in Vanuatu since 2011. “Other than its stunning beauty, Vanuatu is hugely attractive for investors because it’s a tax haven,” says Hamilton. “There’s no personal income tax, no company tax, no capital gains tax and no inheritance tax. The government gets its income mainly from the registration

of international companies. Every year, those companies have to re-register, as ResortBrokers Vanuatu will now do.” Vanuatu’s land ownership system stems from when the country gained its independence from its British and French colonial administrators. When the then New Hebrides became the Republic of Vanuatu in 1980, all land ownership reverted to one of three forms of ownership: government, municipal and custom. Vanuatu’s laws allow custom-owned land, which is the majority of land in Vanuatu, to be leased by foreign nationals from custom owners for a maximum of 75 years. “It’s technically leasehold, but virtually freehold as no one ever lets these leases run out,” says Hamilton. “Let’s say I’m selling a resort that has 20 years left on its lease. I would recommend the buyer put a condition in the sales contract requiring the vendor to either do a variation of the existing lease to push it out to 75 years, that is, to add another 55 years, or they could cancel the existing lease and create a new 75-year lease. The result is the same. That way the buyer has the security of long tenure. Vanuatu’s legal system is mostly based on British law and is very sound. Contracts are rarely dishonoured here, so there’s negligible risk.” Vanuatu is just under three hours’ flight from Brisbane, and just over three hours from Auckland. Hamilton says capital growth in Vanuatu largely tracks market fluctuations in Australia, and to a lesser extent New Zealand.

A slice of paradise … and why you should buy it. FOR SALE

COCO BEACH RESORT Hamilton: “It’s right on the coast near one of the most popular dive spots off Efate, Vanuatu’s main island. And it’s only 15 minutes from Port Vila, the capital.” FOR SALE

ETON REEF PRIVATE RESORT

Neil Hamilton, Broker

Hamilton: “This property has only recently been completed, and as such has never traded. So, it’s really a clean slate for an incoming investor to rename, rebrand and operate the resort as they wish.” FOR SALE

“If there’s a property bull market in Australia, then Vanuatu prices tend to go up as well, although it usually takes a few months for those ripples to come over the water,” he says. “Likewise, if properties go down in Australia. We’re not standalone in that sense. However, there are exceptions. For example, if you build a particularly attractive resort

“Vanuatu is hugely attractive for investors because it’s a tax haven.” and it shows a really good return on investment and there’s no tax involved, that’s obviously very attractive to an offshore buyer. Those properties do increase in value independently because they’re in high demand.”

OCEAN VIEW HOLIDAY APARTMENTS Hamilton: “Ocean View is very central, which is particularly popular with NGOs to house their staff while they’re in Vanuatu, whether it’s three, six months or even 12 months. It’s a short walk to town, so you don’t need a vehicle.” FOR SALE

Hamilton says that while most investors target Efate, they shouldn’t overlook other parts of the island nation. Espiritu Santo, known as Santo, is the largest island in Vanuatu, and an area Hamilton considers prime for development. “Apart from the sheer beauty of the place, Air Vanuatu, in a co-share with Qantas, has just opened direct flights from Brisbane to Luganville, the main town in Santo,” he says. “These two flights a week will really open up the area. I can see ResortBrokers doing a lot of business up there as well, for sure.” END

TROPICANA RESORT Hamilton: “Tropicana is between the two lagoons, First Lagoon and Second Lagoon, and across the road from Vanuatu’s only sports stadium. Every time there’s international teams coming to Vanuatu, Tropicana gets a large percentage of the booking for those players and those coming to see them play.”

Regional Spotlight

Bouncin NSW’s Central West has been through the wringer but the fundamentals for its accommodation sector are rock solid.

Since I joined ResortBrokers at the end of 2019, the area I serve, NSW’s Central West, has been kicked in the guts. I’d prefer to be talking about the region’s positives (and there are plenty), but first I have to acknowledge the pain this part of the world has experienced of late. There was a record-breaking drought, followed by catastrophic bushfires, followed closely by Covid, and then, more recently, devastating floods. This most recent natural disaster was devastating to our industry. Significant damage to roads and transport infrastructure meant people stopped coming to the region. They simply couldn’t get here. That includes professionals and, perhaps more importantly, holidaymakers during the crucial Christmas period.

I service around 360 hotel businesses across Central West NSW and have had the pleasure of meeting a great many operators. There’s a tremendous community spirit and culture of looking out for your neighbours that comes second nature to the people of this region. We saw the best of that community spirit come to the fore in the floods with people mucking in to help one another. If the recent past is dim, the future is bright. I wouldn’t have made my home here if I thought otherwise. I’ve been based in

“NSW’s Central West has so much growth ahead of it.”

Then add inflationary pressures and we have a truly struggling industry. While occupancy is soaring, so are operational costs. Many hotel businesses are treading water as they’ve seen little to no improvement on last year’s net profit.

Bathurst for the last 12 years and with my wife we are raising my two children here. The Central West has so much going for it and so much growth ahead of it.

But now for the good news. The tide is turning. Repairs to roads, properties and businesses are well underway and our resilient region is bouncing back. We’re now enjoying larger occupancies than in previous years.

The region is a natural resources powerhouse with agriculture and mining being the two main economic drivers. There’s also a big push for clean energy, particularly with the Orana Renewable Energy Zone project near Dubbo.

I get to see so much of this development in my weekly travels around the region. My patch is huge, around 63,000 sq km, and starts at the base of the Blue Mountains, then up to Mudgee, then all the way up to Bourke on the border, then up to Broken Hill on the border again, then back down to Griffith and across to Yass and back up to Lithgow.

Each area is different. That’s why it’s important as a broker to understand each city, town and district and their occupancy drivers. Orange, Mudgee and the Mount Panorama region are tourist hotspots where white collars go for weekend getaways. Dubbo, the largest regional city in NSW, is different altogether. It gets some guest traffic from Sydney, particularly families heading to the Western Plains Zoo. But it also attracts farming families from further afield who venture into town once a month or once a quarter to see their accountant, doctor and dentist and that can mean staying in town for a week or more. It has a pull factor for locals from the towns around it like Bourke, Cobar and Nyngan. Dubbo also has a developing manufacturing base. Maas Group is a great Dubbo success story. The company started with a single excavator and is now developing housing estates and is venturing into electrical, manufacturing and steelmaking.

ack

Westlife: Chris’ Central West deals SOLD & SETTLED

Parkes is one of the fastest growing regional areas in NSW. It has had a huge amount of infrastructure spending in the last 15 years, which includes an inland rail upgrade and a road bypass in the pipeline. Add two new mines, a cold-room storage development and an abattoir opening, and you got solid occupancy drivers for hotels.

Cowra, down the road from me in Bathurst, has a huge amount of manufacturing, as well as an abattoir. It’s also a pass-through town for people

“Each area has different occupancy drivers.” coming from Victoria, South Australia and Queensland. Cootamundra, Morah, Yass and Junee get passers through and grey nomads. West Wyalong has a brand-new gold mine, which will be a net positive for the area for the next 20 years. Then there’s Warren, which is just over an hours’ drive from Dubbo. Australianbased Macquarie Group, the world’s largest infrastructure asset manager,

THE YASS MOTEL Leasehold

SOLD & SETTLED

Words_Chris Kelly, Broker Central West NSW

COOTAMUNDRA GARDENS MOTEL Freehold Passive Investment

has large agricultural holdings in Warren, which is an enormous show of confidence in this grain-producing region. And how’s the current market looking? Well, the Central West is a bit of a barometer in terms of the national accommodation sector as to where yields are relative to the economy. A couple of years ago, I was selling properties at tight yields before any of my colleagues in other parts of ResortBrokers’ national network. I was also the first to see yields move back to where they had been.

SOLD & SETTLED

BRIDGE MOTEL WELLINGTON Freehold Going Concern

SOLD & SETTLED

The market in my patch is starting to come to life again. Properties are coming back to market but yields and cap rates have moved more to the buyers’ side. Banks are still lending and there’s limited stock, which gives purchasers a little more room to negotiate. No doubt about it, we’ve been kicked around in the past few years. But I believe we’ve turned the corner. We have lower-priced leaseholds in huge demand and more buyers than properties. Freehold going concerns at yields between 13-15 per cent are in huge demand. We’re currently selling in all markets and I’m expecting big things for rest of FY24.

COLONIAL MOTOR INN Freehold Going Concern

SOLD & SETTLED

The Central West is back. END HOTEL GRACELANDS Leasehold

Broker Insight

Broker Q&A Brisbane management rights broker Jessie Shi answers buyers’ and sellers’ most frequently asked questions.

In her four years with ResortBrokers, Jessie Shi has established herself as one of Brisbane’s foremost management rights specialists. Her commitment to delivering exceptional outcomes for her clients has resulted in more than $65 million worth of sales … and she’s never had a deal fall through. How have you managed to never have a management rights deal crash?

It’s one thing for a broker to find a buyer and secure an offer, but the most important thing is to successfully see the sale through to settlement; that is, close the deal. It’s easier to list, much more difficult to settle. Management rights are different from other commercial property assets because it is a going concern business that is being sold. Consequently, due diligence involves multiple third parties such as accountants, lawyers, financial brokers, banks and bodies corporate.

Issues will inevitably arise during the settlement process, which can take between four to six months. While the broker’s client is the seller, an effective broker will consider any problem from both parties’ perspectives to steer it through to settlement. So far, all the properties I’ve sold have been successfully settled with none having fallen through. Being practical and solution focused is really important, as well as trying to foresee problems before they arise. A key part of ResortBrokers’ sales process, and a major reason for our success, is that we rigorously qualify buyers. If you had to choose one thing a seller must do to enhance the saleability of their management rights business, what would it be?

There are many things they must do, but if I had to choose only one it would be to engage a specialist management rights industry accountant to prepare their P&L statement for sale. This is a

SOLD & SETTLED

MACARTHUR CHAMBERS Brisbane City

Jessie Shi, Broker

specialist industry, so using industry specialists is crucial. Buyers will have far more confidence in the accuracy of your P&L if it’s prepared by experienced industry professionals rather than a nonindustry accountant or yourself. All experienced management rights buyers use industry accountants to verify the figures on the P&L. If your net income as stated by your accountant doesn’t match up with theirs, there’s a real risk the deal will fall through. At the very least, the buyer will demand a reduction in the sales price and walk away from the deal if they don’t get it. What should sellers look for in a management rights broker?

The first thing I’d say is what vendors should not look for. And that’s commission. Actually, what your broker makes from the deal is irrelevant. What’s important is how much money you, the seller, are going to make! The broker who’s going

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PENINSULA APARTMENTS Kangaroo Point

SOLD & SETTLED

MANOR APARTMENT HOTEL Brisbane City

to get you the best price and has the best chance of getting you to settlement, is highly unlikely to be the cheapest broker charging the least commission. The three key things for sellers to look for in a broker/brokerage are experience/capability, track record and volume. Volume matters because it gives your broker/brokerage clout with third parties like solicitors and accountants. It means they can push things through for their clients. A small volume broker/brokerage may not have this influence to see their deals through in as timely a manner as possible. OK, let’s turn to buyers. Increasingly, there are more first-time buyers who want to enter the management rights sector. What preparations should these buyers make?

Get qualified! If you’re a novice buyer who’s completely new to the industry, then completing the full real estate agent license course is an absolute must in my view. Technically, all you need to be a management rights operator is a resident letting agent licence. But savvy caretakers get the full real estate agent licence. It always pays dividends to know your industry inside out, to stay abreast of all relevant legislation, and continue your training and professional development. You’re investing a lot of money in your business, so educating yourself makes perfect sense. I highly recommend choosing a reputable course provider such as Professional Real

Estate Training (PRET). With PRET you can complete the course in as little as 10 days. Their course content is compact and includes case studies to make it easier for students to understand the real-world application of all the rules and regulations. After you’ve done the course, then what?

Book an appointment with an industry specialist finance broker. Most buyers need to take out a loan to buy a management rights business, so they need to understand their own borrowing capacity in terms of how large a management rights business they can buy. An industry specialist loan consultant will evaluate your borrowing capacity so you can get a price range for the management rights businesses you should be targeting in your search. Specialist management rights agencies like ResortBrokers can then recommend appropriate businesses within your price bracket. Let me reiterate one of my key points above: management rights is a specialist industry. So, save yourself time and heartache by engaging experienced industry specialists. This includes everyone from your broker right through to your solicitor and accountant. Nowadays, management rights sales generally take between four to six months to settle from the time the contract is signed. Is there any way to shorten the settlement time or otherwise avoid delays?

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SUNNYBANK GARDENS Runcorn

Some delays are unavoidable, but in my experience there are two areas where buyers can speed things up. Firstly, after the sales contract is signed, the buyer should immediately instruct their solicitor to order a search of the body corporate roll. This usually takes between one and a half to two weeks, sometimes longer, to come through. Some buyers wait until their accountant has done income verification of the seller’s figures before ordering a body corporate roll search, but there is no need to wait. If they wait, they have lost two weeks, possibly more. Secondly, after the buyer is satisfied with the income verification, they should immediately arrange for their bank to appoint a valuer to conduct the valuation in preparation for finance approval. There’s no need to wait for legal due diligence to be completed before doing this. Valuers are often booked out well in advance, so it’s best to get this arranged sooner rather than later. The valuer will need to perform a site inspection, which alone can take one to two weeks to arrange once the valuer has been appointed. The valuer will then need another week or so to complete the valuation report, and the bank will need another two to three weeks to finalise the loan after receiving the report. If the buyer waits for legal due diligence before arranging for the valuer, it will delay settlement by many weeks. END

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GASWORKS RESIDENCES Newstead

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LINCOLN ON THE PARK & MODE APARTMENTS Greenslopes & Newstead

Broker Insight

Broker Q&A 布里斯班物业管理权中介Jessie Shi 回答买卖双方最关心的问题。

在ResortBrokers工作的四年里，Jessie Shi已经成为布里斯班最杰出的物业管理权中介之一。她致力于为客户提供卓越的服务并屡次创造市场最高售价记录，已经实现了超过$6500万澳元的销售额，而且经手的交易全部顺利交割。您是如何成功避免管理权交易失败的？找到买家并获得offer是一回事，但最重要的是能成功的完成交易，也就是成功交割。上市销售物业相对容易，但完成交易要困难得多。物业管理权与其他商业资产不同，因为它是出售正在持续经营的生意。因此，尽职调查涉及多个第三方环节，如会计师、律师、金融贷款经纪人、银行和物业管理公司等。在交易过程中不可避免会或多或少出现一些问题，整个过程需要四到

六个月的时间。虽然中介的客户是卖方，但一个有能力的中介会从买卖双方的角度考虑问题，以引导交易顺利完成交割。到目前为止，我销售的所有物业都已成功交割。做事脚踏实地和注重有效方法非常重要，此外还要尽可能预判潜在问题的出现。ResortBrokers销售过程的关键部分，也是我们成功的主要原因之一，是严格筛选买家，并进一步提供资源支持给买家以便通过业主委员会面试。如果卖家必须做一件事来提高自己物业生意的可销售性，您认为应该是什么？卖家需要提前做多项准备，但如果我只选择一件的话，那就是聘请专业的物业管理权行业会计师为他们的物业生意准备财务报表P&L for sale purposes。物业管理权是一

SOLD & SETTLED

MACARTHUR CHAMBERS Brisbane City

Jessie Shi, Broker

个专业有独特性的行业，所以聘用 industry specialist至关重要。如果P&L是由经验丰富的业内专业会计师完成的，相当于这个物业的账目已经给业内的会计审核过了，相较于卖家自己做的财务报表买家会对专业会计师做的报表的上的数据和收入的准确度更有信心，从而更容易出好的offer给卖家. 这也最大程度避免买家会计师查账之后净收入有差距或控制这个差距到最小，以最大程度保障合同的售价。因为没有买家会因为查帐后收入减少而庆幸，也没有卖家会因为查帐结果而导致要降低售价而高兴的。卖方在选择物业管理权中介时应注意什么？我要说的第一件事是卖家 “不应该” 关注的，那就是佣金。实际上，您的中介从交易中赚多少佣金不是最重要的。重要的是您，卖家，将最

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PENINSULA APARTMENTS Kangaroo Point

SOLD & SETTLED

MANOR APARTMENT HOTEL Brisbane City

终获得多少钱！能为您争取到最高的价格并且最有可能帮助您完成交易直到成功交割的不太可能是收取最低佣金的中介。卖方在寻找中介/中介公司时应关注的三个关键要素是经验/能力、过往业绩和成交量。成交量很重要，因为它使您的中介/中介公司在与律师和会计师等第三方机构打交道时更有影响力。，这意味着中介可以在过程中更快更有效地和律师会计师沟通并解决问题，必要的时候为自己的客户争取权益快速推进并达成一致。成交量低的中介/中介公司可能在这方面不具备这样的影响力。好，让我们聊一聊买家。越来越多的新手买家希望进入管理权行业。这些买家应该做哪些准备？获得资格！如果是新手买家，之前没有从事物业或地产的相关行业，第一件需要做的就是注册并完成full real estate license课程。深入了解您所在的行业，及时了解熟悉所有相关法规，持续培训是有必要的。选择专业的学校和负责任的授课讲师会帮助买家快速有效的完成相关课程。我建议选择一个声誉良好的培训机构，如PRET Australia, 您可以在短短10天内完成full real estate license的所有课程。PRET Australia的课程内容紧凑，包括案

例研究，以便学生更容易理解所有规则和法规的实际应用。完成课程后，接下来呢？预约业内专业的金融贷款顾问。大多数买家需要贷款购买物业管理权生意，因此他们需要了解自己的借款能力，即可以购买多大规模的物业管理权。行业内专业的贷款顾问将评估您的借贷能力，以便买家可以在可操作的价格范围内更有针对性的选择适合自己的物业管理权生意。之后ResortBrokers也可以更有效的推荐适合您价格范围内的物业生意。我要再次强调我上面的一个重要观点：物业管理权是一个 specialist industry。因此，请一定聘请经验丰富的行业专家，包括中介，贷款顾问，律师和会计师，以确保为您保驾护航，节省时间，解决问题并避免在购买过程中不必要的麻烦。现在，物业管理权生意销售从签订合同之日起通常需要四到六个月才能完成交割。有没有办法缩短交割时间或避免延误？我们在交易过程中无论是income verification还是legal due diligence 都有可能出现需要买卖双方协商的情况，有时协商需要时间导致延

SOLD & SETTLED

SUNNYBANK GARDENS Runcorn

迟，这是没办法避免的。除了这些情况，以我的过往经验买家可以做两件事来避免最有可能发生延迟的两个环节：首先，在双方签署合同后，买家马上让律师order body corporate roll Search, 这大概需要1.5-2周的等待时间, 有时可能会更久，所以不要等income verification 之后再order。律师在收到body corporate roll search之后不需要开始做due diligence，可以等income verification结果确定满意后再开始。这样既保证律师可以按时开始做尽职调查完成报告，买家也不需要在提前付大笔律师费给律师。其次，在买家确定income verification满意后，应立即安排他们的银行指派估价师valuer开始做 valuation为银行贷款审批做准备。不需要等法律尽职调查完成之后，因为估价师通常要提前预约时间，所以最好尽早安排。估价师需要到物业所在地进行实地考察，仅这一项就可能需要一到两周的时间才能安排上，site inspection之后，还需要另外一周左右才能完成估价评估报告，银行在收到报告后还需要两到三周时间才能完成贷款审批。如果买方等到法律尽职调查完成后才安排估价师，就将会延迟原定交割日期数周。

SOLD & SETTLED

GASWORKS RESIDENCES Newstead

SOLD & SETTLED

LINCOLN ON THE PARK & MODE APARTMENTS Greenslopes & Newstead

Appointments

New Kid on the Block ResortBrokers’ new management rights broker for the Northern Gold Coast has landed bone-crushing tackles as a rugby league player and scored big deals in alcohol sales. Clint Amos has been around the block … and on The Block (yes, the TV show). Words_John Miller

Clint Amos is the second former elite sportsperson to join ResortBrokers’ Gold Coast management rights team this year after Syd Douglas in April. With our long-time broker Todd Warner (a legend in his own right), this terrific trio forms the spine of our new look Gold Coast team in ResortBrokers’ second largest management rights market in the country after Brisbane. A Goldie local like his fellow brokers, Clint covers the Northern Gold Coast patch of Main Beach, Southport, Runaway Bay, Labrador, Hope Island and everywhere in between. He joins ResortBrokers off the back of two highly successful careers. First, as hooker for NRL clubs North Queensland Cowboys and Gold Coast Titans, and a second, equally impressive, career in alcohol sales. Clint kicked off his first-grade debut with the Cowboys in 2006 before signing with the Titans for their inaugural season in 2007 and playing with them through to the end of 2008. Clint returned to the Cowboys for a second stint from 2009 before hanging up his boots for good at the end of the 2011 season. Though stepping off the field, Clint stayed on with the Cowboys in a business development role that set him on the upward professional trajectory he’s still on today. To transition from sports fields to commercial offices, he completed a Diploma of Management in 2013 and a Diploma of Business in 2016 while working fulltime. Clint attributes his success on and off the field to qualities he learned as an elite sportsperson, but above all to his relentless optimism. “I was never a player that was the biggest or fastest, so for me to be successful and overcome the challenges of a couple of season-ending injuries, you need a north star and mine was and still is positivity and the power of goal setting,” says the 40-year-old, who was born and bred on the Gold Coast. “Professional sport is very goal orientated and you have to be driven to be successful. So, when you set yourself a goal you need to make the necessary sacrifices and

CLINT AMOS

BROKER, NORTHERN GOLD COAST

prioritise what needs to be done to achieve it. The payoff is the elation you get when you do achieve it. It’s contagious, so you’re always trying to repeat it. I’ve taken that approach to all my commercial roles, setting a goal and really going after it.” In six years of commercial life, attacking plays have served Clint well. After leaving his corporate role at the Cowboys, he held senior sales positions at Bacardi Martini and Pernod Ricard, before his most recent appointment as National Sales Manager for alcoholic seltzer brand Hard Fizz immediately prior to joining ResortBrokers. “A lot of my sales techniques, discipline and determination comes from my sporting days,” he says. “You need hard work, consistency, time management and structure. Above all, success in sport, especially rugby league, comes down to effective teamwork. Loyalty, comradery and supporting every player alongside you is key. “In alcohol sales, a great territory plan, customer call cycle and follow up, sets your structured week for success. These behaviours enabled me to again to find success after my professional sports career. The ability to work with the customer and align on a profitable deal is paramount. I can see a lot of my learned sales skills and behaviours transferring to my new role in management rights.” As if life wasn’t already a handful with two (now three) young kids, Clint and his wife Hannah signed up for Season 13 of The Block in 2017. “It was 12 weeks of the most instance pressure cooker environment we’ve ever been in,” he says. “Painting and prepping for days on end, sometimes pulling all-nighters, as we raced to get each week’s presented room ready for the cameras, was stressful. Throw in having a TV crew follow your every step and conversation and it really starts to invade your personal space. Then each week your hard work is critiqued, questioned and judged and, to top it off, you have producers that pick and prod your personal relationship in the hope you’ll crack. I’m happy to say Hannah and I are still very happily married … and that we’d do it all over again in a heartbeat!” END

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And the award goes to ...

Broker of

Year

2023

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20 23

l Salespers

a Ye

cia er

Co m

ResortBrokers! ALEX COOK

ALEX COOK ALEX ALEXCOOK COOK REIQ ARAMA

2023 Sales Broker of the Year

Director Alex Cook’s first-ever REIQ nomination and win was for his outstanding sales performance in FY23 as assessed by a panel of real estate industry judges.

REIQ 2023 Commercial Salesperson of the Year, Alex Cook

Alex’s 2023 Sales Broker of the Year Award was his second with ARAMA, having previously won the award in 2019.

ARAMA 2023 Sales Broker of the Year, Alex Cook

ResortBrokers’ excellence was recognised with no less than four industry awards this year.

202 3M

AMA Life M em

nt Righ eme ts g a Br n a

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We thank the industry for these great honours, which we share with our clients who entrust us with their business that makes our work possible.

RESORTBROKERS IAN CROOKS ALEX IAN ALEX CROOKS COOK COOK ARAMA REIQ ARAMA

ALEX IAN THE ALEX CROOKS COOK ONSITE COOK MANAGER ARAMA REIQ ARAMA

2023 Sales Broker of the Year

2023 2023 Management Sales Broker Rights of the Brokering Year

Chairman Ian Crooks was awarded ARAMA’s highest honour of Life Member for his outstanding overall contribution to ARAMA and its members.

Top brokerage for the 4th year running! ResortBrokers got the gong for top agency at The Onsite Manager’s 2023 ceremony, having won in 2022, 2021 and 2022.

ARAMA Life Member 2023, Ian Crooks

The Onsite Manager Management Rights Brokering 2023

ARAVAN PARKS ACKPACKERS’ OSTELS ERVICED PARTMENTS OTELS OLIDAY PARKS OTELS ANAGEMENT GREEMENTS ORKERS’ CCOMMODATION FF-THE-PLAN 42

Merry Christmas

EVELOPMENTS ANAGEMENT IGHTS ARAVAN PARKS ACKPACKERS’ OSTELS ERVICED PARTMENTS OTELS OLIDAY PARKS OTELS ANAGEMENT

Looking to list? SANTA MAY CARE IF YOU’VE BEEN NAUGHTY OR NICE ...

BUT RESORTBROKERS WILL ALWAYS TAKE YOUR CALL ResortBrokers wishes all our clients a very Merry Christmas, and we look forward to working with you in 2024.

FREEHOLD HOTEL 50 ROOMS

120 S E AT R E S TAU R A N T

ibis Styles Albany Albany, WA

REF // FH008002

Exceptional 50-key freehold motel opportunity in Albany On offer is a simple operation freehold motel, currently run under management. A hands-on operator could see this asset propelled to the next level. Ibis Styles Albany is a well-established 50-key motel located in Western Australia. This central regional area is close to popular tourist attractions and landmarks, with stunning coastlines and a rich history. The boutique-style accommodation include standard, family, deluxe and pet-friendly rooms suited to both business and leisure travellers. The motel offers guests parking, Wi-Fi, guest laundry and breakfast via the on-site restaurant. The property enjoys strong RevPAR with further room for growth in occupancy. It is truly ready to flourish. New owners will reap the benefit of a quality hotel build with options to revitalise the asset of this large freehold property which is selling well below replacement level. •

Large freehold property, selling well below replacement level

•

Property enjoys strong RevPAR with further room for growth in occupancy

•

Central regional area, close to tourist attractions and landmarks

•

50-key motel with pet-friendly rooms

•

Boutique-style accommodations to suit both business and leisure travel

•

Drive business and increase F&B revenue by re-opening restaurant for dinner

•

Facilities include guest laundry, on site commercial laundry, restaurant (bar & grill), and car parking

Price

$4,250,000 Kelli Crouch Broker, South Australia & Northern Territory kelli@resortbrokers.com.au +61 010 441 750

Blair Macdonald Broker, Western Australia blair@resortbrokers.com.au +61 433 149 144

MANAGEMENT RIGHTS 66 UNITS, 23 LETTING

22 YEARS

OWNER’S RESIDENCE 2 BED 2 BATH

Teneriffe Apartments Brisbane, QLD

REF // MR007976

Rarest of Management Rights Opportunities A fabulous Woolstore in the heart of Teneriffe! Secure the ultimate Management Rights opportunity, offered exclusively with ResortBrokers. Take the reins of the renowned Teneriffe Apartments, an emblem of Brisbane’s captivating history. Nestled in the vibrant hub of Teneriffe and Newstead, this heritage-listed “Woolstore” building stands tall at the intersection of Commercial Road and Arthur Street. Functionality blended seamlessly with contemporary luxury, this historic Woolstore built in 1931, has been reimagined into a captivating residential complex, preserving its original charm. Enjoy this fantastic 99sqm two-story loft-style manager’s apartment, with two spacious bedrooms, two bathrooms and soaring 8-meter ceilings, which helps create a grand living space. The loft office and extra storage enhance the appeal further. Teneriffe Apartments shows a net profit of $132k with extremely manageable duties, allowing the incoming purchaser to use the exclusive-use office to grow their business strategically with 23 apartments in the letting pool and 14 outside agents. This is your chance to become a part of Brisbane’s captivating history while thriving in the city’s booming real estate market. Embrace a business that reflects inner-city lifestyle and commercial opportunity. •

Acquire management rights to the iconic, heritage-listed Teneriffe Apartments.

•

Ownership includes a unique 99sqm two-story loft-style Woolstore apartment.

•

Enjoy a net profit of $132k with minimal responsibilities.

•

Majority of net profit derived from body corporate salary ($90,693).

•

Long 22 year agreements with a history of top ups and variations, showing an active body corporate

•

Benefit from no set office hours with an onsite office under exclusive use.

•

Potential growth with 23 of 66 apartments in letting pool and 14 outside agents.

•

Prime location at the intersection of Commercial Road and Arthur Street, Teneriffe.

Net Profit

$132,541

Real Estate Price

$830,000

Frank Matus Broker, Brisbane frank@resortbrokers.com.au +61 435 742 698

Price

$1,429,000

MANAGEMENT RIGHTS 51 APARTMENTS 23 LETTING 22 YEARS OWNER’S RESIDENCE 3 BED 2 BATH

High Net Beachside Resort Ultimate business + lifestyle

REF // MR007923

Highly profitable management rights enviably located on prime coastal land On offer is the management rights and associated real estate to one of the Southern Gold Coasts’ most impressive beachside resorts opposite world-famous Kirra beach. Returning an annual net profit circa $435K, backed by a solid body corporate salary of $87,945 and with 22 years remaining on the agreements, this lucrative business provides superb security of tenure for the incoming operator. The luxury manager’s residence comprises 3 bedrooms, 2 bathrooms, 2 carparks, a large, covered balcony, living, dining and open plan kitchen. Substantial renovations have been made to the residence, installation of hybrid timber flooring, fresh paintwork, plantation shutters, granite kitchen benches along with new, high-quality appliances. Complete with ducted air conditioning, there is an extra back office separating the already large front office and reception area. This place has it all: beachside location, consistent performance, repeat guests, impressive return on investment (ROI), and both the complex and the residence present immaculately. Opportunity beckons for the right people to continue growing this cracking business while enjoying the coastal lifestyle it offers. •

Unparalleled beachside location - direct ocean views

•

Room to grow and add value via R&M + increasing letting pool

•

Strong body corporate salary and high net profit

•

Lifestyle flexibility - no set office hours

•

Luxury 3 bed, 2 bath, 2 car manager’s residence with office on title

•

Consistent performing business

•

Fantastic business in high demand growth area

•

Excellent body corporate rapport and support

•

9/10 online guests reviews from repeat guests

•

Property inspections are by appointment

Net Profit

$435,517

Price

$2,999,000

Todd Warner Broker, Southern Gold Coast todd@resortbrokers.com.au +61 438 170 763

FREEHOLD MOTEL 29 ROOMS

OWNER’S RESIDENCE 1 BED 1 BATH

Bunkhouse Motel Cooma, NSW

REF // FH007795

First time offered in over 50 years ResortBrokers presents a unique opportunity to acquire the Bunkhouse Motel, a property that has been held tightly and is now on the market for the first time in 50 years. Located in the heart of Cooma, this vibrant region is a year-round tourist destination for outdoor enthusiasts. Bunkhouse Motel offers a prime CBD location and variety of accommodation styles across its 29 rooms, catering to a broad spectrum of guest preferences. This versatility is a significant asset, allowing the motel to accommodate individual travellers, couples, families and larger groups with ease. One of the most exciting aspects of this opportunity is the potential for growth. The motel currently operates at low occupancy levels, presenting a significant scope for a new owner to drive business growth. With the right strategies and initiatives, there is immense potential to increase occupancy rates and, in turn, revenue. Additionally, new owners could choose to renovate, enhancing the guest experience and potentially increasing the property’s value. Cooma serves as a regional hub for the surrounding areas, further boosting the motel’s potential customer base from the Snowy Hydro, hospital, courthouse etc. Bunkhouse Motel is an exciting opportunity with its prime location and significant growth potential. Don’t miss your chance to own this gem! •

Significant potential for business expansion due to low current occupancy

•

Prime location in the heart of Cooma

•

29 rooms offering a good mix of room configurations

•

Renovation potential to enhance value and guest experience

•

Perfectly positioned between the snowfields and Canberra

•

Cooma benefits from being a mini regional centre

•

First-time market offering in half a century

•

Located in a popular year-round tourist destination

Net Profit

$109,962

Turnover

$167,129

Russell Rogers Senior Executive Broker, South Coast NSW russell@resortbrokers.com.au +61 416 166 909

Price

$2,600,000

MANAGEMENT RIGHTS 658 UNITS 162 LETTING POOL 25 YEAR AGREEMENTS

Melbourne’s Largest Permanent Management Rights Business

REF // MR007957

ResortBrokers presents an outstanding business investment offering over $1 million net profit in Central Melbourne New to the market, this high-netting opportunity is one of significant scale and prominence and presents a truly exclusive business investment suitable for experienced operators. The super-sized, permanent run management and letting rights offers a net profit in excess of $1,000,000 which is underpinned by a substantial Owners Corporation salary and lengthy terms remaining on the Caretaking and Letting Agreements. Located in a prime Melbourne suburb, the modern high-rise complex is within easy reach of the CBD, has superb connectivity and offers residents an idyllic and convenient place to call home that is surrounded by fantastic local amenities and infrastructure. Fully established, the business has proven performance and gives incoming managers the option to further increase the bottom line through the conversion of lots into a short-term operation if desired. •

Established permanent MLR business with strong performance

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Reception open Monday-Friday and Saturday mornings

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No real estate to purchase or requirement to live on-site

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Long tenure remaining on Caretaking and Letting Agreements

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Substantial combined Owners Corporation salary

•

Prominent inner-city location close to transport & amenities

•

Upside opportunity via short-term conversion to increase net profit

Net Profit

$1,000,042

Price

$5,199,522

Tim Crooks

Alex Cook

Director of New Developments tim@resortbrokers.com.au +61 417 544 562

Director alex@resortbrokers.com.au +61 467 600 610

MANAGEMENT RIGHTS 186 APARTMENTS

44 LETTING

10 YEARS

Cutters Landing New Farm, QLD

REF // MRB007979

Riverfront Exclusivity - Lucrative Management Rights to Brisbane’s Premier Residential Complex ResortBrokers proudly presents the business-only management rights acquisition of Cutters Landing, an exquisite riverfront residential complex nestled in the heart of New Farm, QLD. Boasting a lucrative net profit of $440,992 and an impressive body corporate salary of $363,791, comprising a remarkable 82% of the total net income, Cutters Landing stands as a testament to the seamless collaboration between management and representative body corporate. With brand-new 10-year agreements recently secured and a history of successful top-ups, the robust relationship between the management and the bodies corporate underpins the stability and long-term value of this investment. The meticulously maintained gardens, of which a portion of the upkeep is paid for by the b/c is reflective of the commitment to the complex and community, further accentuating the allure and value of this premier property. Benefiting from an exclusive letting pool of 44 luxury units out of 186, offering promising commissions and sustainable income, Cutters Landing presents exceptional income potential, complemented by the convenience of offsite ownership and absence of residency obligations. The provision of a spacious and functional office, alongside transparent accounting by industry specialists Archer Gowland, solidifies the appeal of this exceptional opportunity. In essence, Cutters Landing represents an extraordinary combination of exclusivity, profitability, and flexibility. Positioned in a prime riverfront location, it stands as a rare gem in the dynamic management rights market. Inquire now to seize this golden opportunity! •

Substantial net profit of $440,992, with a significant body corporate salary of $363,791, accounting for 82% of total net income.

•

Secure investment with brand new 10-year agreements and a positive relationship with the body corporate.

•

Flexibility with no requirement to reside onsite or own a lot.

•

High yield and exclusive letting pool offering strong commissions and significant growth potential.

•

Profit and loss realistically calculated by industry specialist accountant, Archer Gowland.

•

Inclusive of a spacious, functional office for exclusive use.

•

Located in Brisbane’s premier riverfront residential complex.

Net Profit

$440,992

BC Salary

$363,791

Business Price

$2,293,158

Frank Matus

Jessie Shi

Broker, Brisbane frank@resortbrokers.com.au +61 435 742 698

Broker, Brisbane jessie@resortbrokers.com.au +61 422 935 428

MANAGEMENT RIGHTS 88 TOWNHOUSES, 82 LETTING 25 YEARS

MANAGER’S RESIDENCE 4 BED 2 BATH 2 CAR

North Brisbane Gem High Net MR

REF // MR007962

Newly established townhouse complex with high net over $320k The management and letting rights presents as a superb investment for an astute operator to acquire and earn a solid income over $320,000 per annum. This mid-size townhouse complex of 88 units was built by townhouse developer Philip Usher and has been firmly established with 82 permanent rentals in the on-site letting pool. Current owners run this business under management and have a property manager residing on-site in the beautiful four bedroom townhouse. This has quality features such as ducted air conditioning, two bathrooms, double garage and a large outdoor area plus a neatly appointed office complete with own entrance, desk and counter for smooth business operation. The location gives you proximity to the Sunshine Coast and Brisbane, both within 45 minutes’ drive. Locally, there are plenty of amenities in the neighbourhood and Morayfield which is about a 5-minute drive away. On the market at an attractive 5.6x multiplier, this represents fantastic value providing a substantial income and the added security of 23 years remaining on caretaking and letting agreements. •

Mid-scale townhouse complex comprising of 88 units in total

•

Strong letting pool with 82 managed in on-site pool

•

Fully established permanent business with $324,204 net profit

•

23 years remaining on caretaking and letting agreements

•

No set office hours gives incoming managers great flexibility

•

Body corporate salary over $113,000 with annual renewal

•

Modern four-bedroom manager’s townhouse for $510,000

•

Attached office on title has own entry and is equipped with desk and A/C

•

Minimal facilities with small gym only

Net Profit

$324,204

Price

$2,330,000

Jeff Keast Broker, Brisbane jeff@resortbrokers.com.au +61 414 669 007

MANAGEMENT RIGHTS 69 APARTMENTS

44 LETTING

24+ YEARS

OWNER’S RESIDENCE 2 BED 2 BATH

The Marc

Kangaroo Point, QLD Lucrative management rights opportunity in the heart of Brisbane Set in the enviable Brisbane’s inner-city suburb of Kangaroo Point, mere minutes’ stroll from local amenities, this premium mid-rise offers a unique blend of flexibility, profitability and location that is sure to appeal to both first-time buyers and experienced operators looking to expand their portfolio. This well established complex comprises 69 units with 44 units managed in the on-site letting pool. There’s no requirement to live on-site and no set office hours providing the new manger with the flexibility to manage their time and resources effectively. The caretaking duties are very manageable. The agreement has also been successfully topped up with more than 24 years remaining. This provides a secure and stable foundation for the business, ensuring continuity and reflects supportive body corporate relations. Astute operators should be quick to consider this entirely unique easy-care management rights opportunity. •

No set office hours

•

No requirement to reside on-site

•

Long agreement terms - 24 years remaining

•

P&L prepared by industry professional accountant

•

Minimal facilities and very manageable caretaking duties

•

Located in highly sought-after inner-city area with high rental demand

•

Suitable for either first time buyer or experienced operator as add-on to existing portfolio

•

Very supportive body corporate

•

Manager’s unit generates $31,720 additional income per year

•

Property inspections are by appointment only

Net Profit

$203,679

Real Estate Price

$635,000

Jessie Shi Broker, Brisbane jessie@resortbrokers.com.au +61 422 935 428

Total Price

$1,795,970

REF // MR007930

PA S S I V E I N V E S T M E N T 84 ROOMS

70 PERSON CONFERENCE SPACE

Quest Palmerston Palmerston, NT

REF // INV007987

Extremely Rare Quest Freehold Passive Investment ResortBrokers is excited to exclusively present an outstanding opportunity to own the freehold passive of a rock-solid accommodation asset in Australia’s most northern capital city, the 4-star Quest Palmerston, the only Quest branded property in Darwin. The incoming owner will have the security of a blue-chip tenant in the form of Quest Apartment Hotels parent company. The 10-year lease runs until December 2029 with three further 5-year options to renew, which conceivably extends its lease to 2044, with a yearly rent over $1.5 million. Comprising 84 keys, Quest Palmerston offers an array of room configurations, a spacious conference centre and extensive business facilitates, along with one strata unit. The offering for sale of the Quest Palmerston, only 20 minutes’ drive from Darwin’s CBD is extremely rare, astute investors should be quick to consider this exceptional freehold passive investment. •

Freehold passive investment of Darwin’s only Quest branded property

•

Tenant is Quest parent company

•

Lease extends to 2044

•

High annual rent of over $1,500,000

•

84 keys from studios to three-bedroom apartments

•

Rooms cater to business/leisure, long/short stays

•

Conference facilities accommodating 70 delegates attract corporate trade

•

Central Palmerston location, only 20 minutes’ drive to Darwin’s CBD

Annual Rent

$1,591,679 ex GST

Price

$20,000,000

Kelli Crouch

Nathan Eades

Trudy Crooks

Broker, SA & NT kelli@resortbrokers.com.au +61 410 441 750

Broker, Brisbane nathan@resortbrokers.com.au +61 448 339 920

Managing Director trudy@resortbrokers.com.au +61 477 882 210

FREEHOLD MOTEL 30 ROOMS

OWNER’S RESIDENCE 2 BED 1 BATH

Casino Motor Inn Casino, NSW

REF // FH007967

Busy 30-room freehold motel in the Northern Rivers Rare opportunity to acquire a busy 30-room motel, located in an elevated, flood-free position in the booming Northern Rivers of NSW. Only 1 hour from Byron Bay and 45 minutes to Ballina and the Gateway Airport this motel averaged over $1.3M turnover for the last two years, demonstrating it is sustainable profitability. The potential to run under management or on-sell the leasehold are only the beginning of the very real opportunities with this business. Positioned as the largest motel in the local area and boasting a sparkling pool and great street exposure, this motel is a favourite with mid-week workers and tourists alike. The business is highly profitable and with occupancy at nearly 80% averaged over the last two years (84% last year) it suggests an immediate opportunity to increase ADRs. The guestrooms are clean and modern, with some cosmetic renovations done recently. There is no immediate spend required. There is the also an opportunity to reopen the restaurant or sub-lease it for even more revenue. This hotel has been tightly held for years and with most ResortBrokers’ listings in the area going under offer in their first week, this one is not expected to be available long. •

Excellent ROI yield on very profitable motel

•

30 rooms allowing to be run under management

•

Opportunity to sell lease or sub-lease restaurant area

•

Elevated and flood free

•

Large pool and BBQ area

•

Clean and modern guestrooms

•

2-bedroom manager’s residence on-site

•

Largest motel in town

•

Popular with regular mid week workers

•

Very close to CBD and newly renovated pub next door

Net Profit

$951,592

Turnover

$1,324,860

Miguel Bozina Broker, Gold Coast & Northern NSW miguel@resortbrokers.com.au +61 419 848 444

Price

$7,500,000

MANAGEMENT RIGHTS 131 LOTS 22 YEARS

Cairns Night Markets Cairns, QLD

REF // MR008016

Commercial management rights business — extremely rare! Every now and then, a business comes to market that screams “Buy me now!” Cairns Nights Markets is one of those businesses. This business has been held by the current owners for 15 years. This is a proven performer with a long record of consistency in strong net profit. There is no residence to buy (just the commercial office space), meaning no requirement to live on-site. There are no set office hours. The agreement states that duties are administrative only, meaning no cleaning, no garden maintenance, no pool or BBQ cleaning and all those other pesky duties associated with residential management rights. Cleaners are paid for separately by the body corporate. The complex consists of 131 lots (117 in the night markets section and 13 in the food court section). The markets are visited by 2.7 million people annually, providing an extremely high level of exposure for all shops within. Income is derived from management and marketing fees paid by owner-occupiers of the shops and tenants alike — that’s correct, you get paid by BOTH tenants and owner-occupiers — which further emphasises the long-term financial stability of the business. •

Consistent year-on-year profit growth

•

Body corporate salary > $100K net profit > $400K

•

No residence, no set office hours

•

Administrative duties only

•

96% occupancy

•

Foot traffic through markets = 2.7 million annually

•

22 years remaining on agreements

Net Profit

$401,679

Price

$2,450,000

Shane Croghan Broker, Far North Queensland shanec@resortbrokers.com.au 0418 451 006

MANAGEMENT RIGHTS 25 APARTMENTS

20 LETTING

22 YEARS

OWNER’S RESIDENCE 3 BED 2 BATH

Skippers Cove

Noosaville, QLD

REF // MR008001

Redefining waterfront views – Noosaville’s absolute paradise management rights Why settle for water views when you can have your very own beach? Seize this extraordinary, once-in-a-lifetime opportunity to secure the management rights and attached townhouse at Skippers Cove Resort in Noosaville. This remarkable venture seamlessly combines a thriving business with an enviable coastal lifestyle in a prime location. Skippers Cove Resort enjoys a prestigious northern aspect, with an impressive 61 metres of sandy river frontage along the Noosa River. Its unparalleled views and direct river access make it a sought-after destination for tourists and locals. The property’s two jetties and endless water vistas set it apart, making it a rare find. The resort’s business performance is robust, with a comfortable net income exceeding $400,000. Incoming managers have substantial opportunities for revenue expansion, further enhancing this high-return investment in a thriving tourism hotspot. Skippers Cove Resort offers an unmatched package, making it an extraordinary business venture in a tourism hotspot. •

Prime business with northern aspect and 61 meters of sandy river frontage on Noosa River

•

Unique opportunity to own a waterfront property in Noosaville at an unbeatable price.

•

Stable net income over $400,000 with potential for further growth

•

Property features two lagoon-style pools and a heated spa

•

Accommodation options to suit all budgets, from pool view villas to waterfront townhouses

•

Manager’s residence includes a spacious 3-bedroom, 2-bathroom, 2-story townhouse with two private outdoor areas

•

Secure investment with a history of successful top-ups and 22 years of tenure remaining

•

High-return opportunity in a thriving tourism hotspot with strong forward bookings and business momentum.

Net Profit

$401,622

Real Estate Price

$975,000

Total Price

$2,983,110

Chenoa Daniel

Glenn Millar

Broker, Sunshine Coast chenoa@resortbrokers.com.au +61 403 143 151

Broker, Sunshine Coast glenn@resortbrokers.com.au +61 412 277 804

FREEHOLD MOTEL 36 ROOMS

v MANAGER’S RESIDENCE 2 BED 2 BATH

North Parkes Motel Parkes, NSW

REF // FH007986

Freehold going concern of large motel in Parkes Parkes, NSW, stands as one of the most rapidly growing districts in the state. Presenting an exclusive opportunity, we bring to market the freehold of the North Parkes Motel, ideally situated on the north side of Parkes, along the main thoroughfare into town. This doublebrick property is impeccably maintained with minimal external landscaping required. Boasting a three-star rating and 36 rooms, the motel enjoys consistently high occupancy throughout the year. Its restaurant caters to guests for breakfast, lunch, and dinner, expanding its appeal to both short-term and extended-stay visitors. Furthermore, the dedicated staff are willing to stay on with the new owners, ensuring a smooth transition. With Parkes experiencing significant development, including mining, bypass, refrigeration facilities, railway upgrades, and residential projects, the demand for accommodations is expected to remain strong well into the future. This will ensure a steady influx of professionals and holidaymakers, further boosting the district’s occupancy rates. The property’s versatility makes it an excellent fit for various operators, whether they are newcomers or looking to expand their existing portfolio. Notably, the motel has achieved impressive financial performance, with a solid turnover of $1,384,699 in 2023, and an adjusted net profit of $626,275 maintaining an average annual occupancy of 64%. With a 13% yield and a price of $4,800,000, this property presents a compelling investment opportunity. Adding to its allure, the manageable annual rent of just over $100,000 makes it an attractive prospect for potential buyers. •

One of the largest properties in Parkes

•

Continued strong occupancy year-round

•

Large amount of repeat clientele

•

Large owner’s residence

•

Experienced staff willing to stay on

Net Profit

$626,275

Turnover

$1,384,699

Chris Kelly Broker, Central West NSW chris@resortbrokers.com.au +61 431 055 221

Price

$4,800,000

FREEHOLD MOTEL 14 ROOMS

OWNER’S RESIDENCE 4 BED 1 BATH

Motel Northview Mackay, QLD

REF // FH008015

Exceptional freehold opportunity in prime location with strong net profit We are delighted to present an exceptional opportunity to acquire the freehold going concern of Motel Northview, situated in the thriving city of Mackay. Boasting 14 recently renovated rooms, this well-maintained property offers a comfortable and inviting stay for guests. Strategically located in close proximity to the Mt Pleasant Shopping Centre, schools, the Mater Hospital and northern highway, Motel Northview enjoys a prime position within the community, making it an attractive choice for both leisure and business travellers. Additionally, being one of only two hotels on the north side of Mackay, it benefits from limited competition in the area. The motel has demonstrated a strong financial performance, with a healthy net profit margin. This indicates a sound investment opportunity for prospective buyers seeking a reliable and profitable venture in the hospitality industry. Don’t miss out on this chance to own a thriving motel in the heart of Mackay. Contact us today for more information and to arrange a viewing. This opportunity won’t last long! •

14 recently renovated rooms

•

Prime location near Mt Pleasant Shopping Centre, schools and Mater Hospital

•

Limited competition as one of only two hotels on the north side of Mackay

•

Strong net profit margin

•

16% yield

Net Profit

$301,159

Turnover

$497,655

Price

$1,850,000

Glen Cummins

Des Fagg

Broker, North Queensland glen@resortbrokers.com.au +61 427 215 863

Broker, Townsville & Surrounds des@resortbrokers.com.au +61 427 849 119

LEASEHOLD MOTEL 31 ROOMS 30 YEARS

Hi-Way Motel Grafton, NSW

REF // LH007984

Refurbished 3-star motel, can be operated remotely ResortBrokers is excited to offer the leasehold of the Hi-Way Motel in picturesque South Grafton, a 3-star property which has been renovated and refurbished throughout, boasting 31 competitively priced rooms across multiple configurations and a brand new 30-year lease that will be issued to the incoming purchaser providing security of tenure. In addition to the 31-key motel, there is a three-bedroom freestanding, modular house located at the rear of the property which can be used as a residence for the on-site manager/s or rented out as further income earning accommodation. The real standout opportunity here is the ability to run the property remotely. CCTV security cameras have been installed throughout and the property has contactless check-in with digital registration, keyless entry and virtual 24/7 Reception desk to all the rooms, providing the incoming operator with the flexibility to run the motel off-site. Already showing high occupancy rates, with year-on-year growth, this business is positioned to further benefit from the multi-billion-dollar infrastructure in the region. This investment promises a bright future. •

Brand new 30-year lease

•

Upside via renting out residence

•

Rare opportunity to run the motel remotely

•

31 keys with multiple configurations

•

3-star refurbished & renovated motel

•

Consistent year-on-year growth

•

Diverse & repeat clientele

•

Inspections by appointment only

Net Profit

$393,387

Turnover

$995,790

Price

$875,000

Jacqueline Featherby

Miguel Bozina

Broker, Central Coast NSW, Hunter & Blue Mountains jacqueline@resortbrokers.com.au +61 424 497 056

Broker, Gold Coast & Northern NSW miguel@resortbrokers.com.au +61 419 848 444

MANAGEMENT RIGHTS 43 TOWNHOUSES, 34 L E T T I N G

16 YEARS

OWNER’S RESIDENCE 2 BED 2 BATH

Regency Beach Club Dunsborough, WA

REF // MR007926

Ultimate luxury - Dunsborough’s largest MR Resort The management rights of the breathtaking luxury beachfront Regency Beach Club in Dunsborough is being exclusively offered by ResortBrokers. Regency Beach Club is the largest resort complex in Dunsborough, offering an exceptional business prospect due to its impressive track record of profitability. The resort comprises a total of 43 houses and townhouses, with 34 in the letting pool. Three of the houses are “duel-keyed” which gives a total of 37 keys available for letting. The new business owner will have the benefit of a 16-year Commercial Management Agreement. Additionally, there is no obligation to purchase the manager’s unit as it is leased from the body corporate at a discounted rate. The resort accommodates guests with its heated in-ground pool, gym, tennis court and 200m of beach frontage. The property has been operating under partial management with a full-time gardener and receptionist; however, the management rights are now up for sale with the expectation that the business will be owner-operated by its new owners. Dunsborough is a highly desired vacation spot for Perth locals who frequently make the 2.5-hour journey to enjoy holidays with their loved ones, whether it be in the summer or winter months. Around 80% of all nights spent by visitors in Dunsborough are attributed to the West Australian population, highlighting the regions appeal among WA locals. This is an exciting opportunity for Buyers who want to enjoy the stunning surroundings of Dunsborough and Margaret River while also managing a highly profitable resort in one of Dunsborough’s prime locations. • • • • • • •

37 keys in total 16-year management agreement Unbeatable location - direct beachfront access Well-maintained luxury homes - minimal refurbishment requirements Well-appointed two-bed, two-bath manager’s unit under lease Managed by staff Monday to Friday Property inspections are by appointment only

Net Profit

$630,105

Turnover

$997,189

Blair Macdonald Broker, Western Australia blair@resortbrokers.com.au +61 433 149 144

Price

$1,800,000

MANAGEMENT RIGHTS 147 UNITS 96 LETTING POOL 25 YEAR AGREEMENTS MANAGER’S RESIDENCE 3 BED 2 BATH

Trafalgar Lane

Woolloongabba, QLD

REF // MR007966

Coming soon to market a prominent MLR netting circa. $500K in Brisbane’s inner-east ResortBrokers presents the management rights and associated real estate to Trafalgar Lane to market for the first time. Developer retained and managed since inception, this complex has a strong track record as an established, permanent business with a total of 147 units and 96 in the on-site letting pool currently. There is a luxe lobby with reception, back office and storage held under OA. A 3 bedroom, 2 bathroom manager’s unit on Level 10 forms part of the sale and is required for a manager to reside on-site. The prime inner-city location, opposite the Gabba Stadium in central Woolloongabba, offers residents a superb base with access to public transport and walk-ability to significant employment nodes like the Mater Hospital, educational institutes and South Bank cultural precinct. Rising 20 storeys, Trafalgar Lane offers high quality living with a mix of 1, 2 and 3 bedroom layouts. With 1,000 sqm of ground level retail, offering bars and dining options, the complex has a trendy vibe. Head up to the recreational level on the 6th floor to the pool with sundeck, steam, spa, cinema and gym. In addition there are yoga, outdoor lawns and lounge areas for resident’s use. •

First time to market - fully established permanent MLR business

•

Net profit being verified by industry Accountants, McAdam Siemon

•

Stunning foyer and reception plus back office and storage under OA

•

147 apartments in total with 96 in on-site letting pool

•

No set office hours, reception currently open 8am to 4pm

•

18 years remaining on caretaking and letting agreements

•

Beautiful 3 bed, 2 bath manager’s unit

•

Stunning 6th floor recreation area with pool, steam, spa, cinema and gym

•

Incredible position overlooking the Gabba with 1,000 sqm ground level retail

Net Profit

circa. $500K

Real Estate Price

$680,000+

Tim Crooks

Alex Cook

Director of New Developments tim@resortbrokers.com.au +61 417 544 562

Director alex@resortbrokers.com.au +61 467 600 610

MANAGEMENT RIGHTS 366 UNITS

$480,000 OC SALARY

25 YEARS

The Evermore

Southbank, VIC

REF // MRB007893

Melbourne Southbank high-netting permanent management rights ResortBrokers presents a rare opportunity to acquire the business-only permanent management and letting rights to The Evermore apartments, located in the heart of Melbourne’s Southbank. The Evermore is a modern twin-tower development that features resort-style amenities for residents, including a pool, sauna, gym, cinema, dining and function rooms. The Evermore comprises 366 apartments ranging from 1-, 2- and 3-bedroom units, with c. 35 in the letting pool. There are approximately 80 units of unsold developer stock; the developer is currently considering long-term letting solutions for some of the unsold stock. The Evermore has no real estate to purchase and provides the operator with an office, reception and storage under OA. There are no set office hours or requirement to live onsite. With 22 years left on the caretaking and letting agreements along with a strong Owner’s Corporation salary of over $480,000 per year, this business provides both security and a solid return. Currently run by a two-person team, along with contract cleaners and gardeners, the property boasts strong upside potential via unit sales, conversion of outside agents to the letting pool and conversion of permanent letting to short-stay. • • • • • • • •

Established permanent MLR business with 366 apartments True business-only structure with an office under OA 22 years remaining on caretaking and letting agreements No real estate to purchase or requirement to live on-site Easy to run by two-person team, with cleaners Strong OC salary over $480K p.a. Idyllic Southbank location offering convenience to amenities Upside opportunity via unit sales, conversion of outside agents, short-stay conversion

Net Profit

$472,152

Real Estate Price

$850,000

Total Price

$2,450,000

Tim Crooks

Alex Cook

Director of New Developments tim@resortbrokers.com.au +61 417 544 562

Director alex@resortbrokers.com.au +61 467 600 610

14% RETURN ON INVESTMENT AFTER FULL MANAGEMENT & O P E R AT I N G CO S T S

18 APARTMENTS

A B S O L U T E WAT E R F R O N T

40 SEAT RESTAURANT

Tropicana Resort Vanuatu

REF // LH007405

Opportunity for seasoned operator to acquire an absolute beach-front 3-star complex with fantastic on-site facilities on Emten Lagoon, 5 minutes’ drive to Port Vila. Perfectly located on the narrow arm connecting Emten Lagoon and Erakor Lagoon (aka First Lagoon and Second Lagoon), Tropicana is the perfect choice for visitors who want easy reach of all that Port Vila has to offer but also enjoy a peaceful and quiet resort setting at the same time. With 12 fully self-contained studios and 6 two-bedroom apartments, Tropicana is ideal for leisure and corporate guests alike. All 18 apartments enjoy gorgeous lagoon views and are neatly equipped with tropical style interiors, comfortable beds, warm timber flooring, spacious bathrooms, kitchens with microwave & gas cooktop, in-room safe, air conditioning and ceiling fans, and TV units. Tropicana also has its own a sublime private beach, an outdoor swimming pool, on-site bar with lounge and 40-seat restaurant that sits over the water. Tropicana benefits from being across the road from the 6,500-seat Korman Stadium, Vanuatu’s national stadium and the home of the Vanuatu national football team. Each time international teams visit Vanuatu, Tropicana enjoys a large percentage of the booking for those touring players and the spectators from abroad coming to see them play. The drive into town takes only a few minutes and there are plenty of cheap minibuses and taxis to be found on the main road, only 150 metres from the resort, that operate from early morning until late at night. •

Comprises two independent buildings with total of 18 self-contained units

•

Lagoon views from balconies or terraces

•

Tastefully furnished with quality interiors for comfortable stays

•

Over-the-water restaurant facility with seating for up to 40 guests

•

Tropical gardens, bar, swimming pool and water sports activities

•

On-site reception lobby and visitor car parking

Est. NOP, Under Management

$415,561 AUD

Price

$3,200,000

Neil Hamilton

Ian Crooks

Broker, Vanuatu neil@resortbrokers.vu +678 773 9672

Chairman ian@resortbrokers.com.au +61 411 171 648

14% RETURN ON INVESTMENT AFTER FULL MANAGEMENT & O P E R AT I N G CO S T S

15 BUNGALOWS

BANK FINANCE AVAILABLE AT B E L O W 5 %

Coco Beach Resort Vanuatu

REF // LH007403

Island life awaits astute investors / experienced resort operators! Take the helm and reshape the future of this truly stunning ocean-front property in Vanuatu Located in Paradise Cove, just 15 minutes’ drive from Port Villa, Coco Beach Resort is a fully refurbished, beachfront holiday complex set in a tropical landscape with amazing ocean views. Boasting its own private, tranquil white-sand beach, Coco Beach Resort combines classy ambience with a laid-back tropical feel and is the perfect getaway for singles or couples. The resort features 15 stand-alone villas — known as farés — either right on the beach, with part-ocean views or in lush tropical gardens. All farés are well ventilated by screened louvre windows, ceiling fans and/or air conditioning, and there is complimentary Wi-Fi throughout the resort. The resort’s on-site amenities include a new lobby, renovated swimming pool and upgraded waterfront restaurant, Salt. The restaurant has been extended further out into the ocean with the addition of a new dining area right on the jetty and a new sunset bar with magnificent views. Facing northwest, Coco Beach Resort enjoys spectacular sunsets over the ocean. Paradise Cove sits across from Mele Reef, an extensive reef that rises up in the middle of Mele Bay to around 6 metres from the surface, which is one of the most popular snorkelling/dive spots in Vanuatu. • • • • • • • •

Only 15 minutes’ drive from capital Port Vila 15 deluxe stand-alone bungalows with modern decor & A/C Close to Mele Reef, one of Vanuatu’s most popular dive sites Large waterfront restaurant and bar Restaurant recently extended over ocean and new kitchen Newly refurbished swimming pool and timber deck Gorgeous private beach Beautiful tropical gardens

Est. NOP, Under Management

$320,360 AUD

Price

$2,450,000

Neil Hamilton

Ian Crooks

Broker, Vanuatu neil@resortbrokers.vu +678 773 9672

Chairman ian@resortbrokers.com.au +61 411 171 648

Special Feature_Management Rights

Offer experiences, add value Local Agent is a win-win for guests and accommodation providers.

Local Agent is an online experience booking platform with a solid customer base on the Gold Coast, where it is headquartered, as well as Tropical North Queensland, the Sunshine Coast, and a growing presence across the rest of Australia and New Zealand. Started in 2005 as TicketMates and later rebranded Local Agent, the business has over 680 agents and growing, and is the exclusive experience booking platform for marquee hotel brands like Accor, Marriott and Hilton, as well as small, family-run accommodation businesses. The company hopes to have 1,000 active agents by the end of the year, with the ultimate goal of getting Local Agent into every one of Australia’s more than 6,000 accommodation providers. In this Q&A, General Manager Clint Gudenswager explains what Local Agent is and how it works. For those unfamiliar with it, what is Local Agent? People travel to do things, not stay in their hotel room for the whole stay. They’re here for a reason, to do something, to go to a theme park, or go to a dinner show. Local Agent fills that need. Let’s say a family visiting the Gold Coast wants to enjoy a day out at Movie World. If the hotel or management rights they’re staying at has Local Agent, it enables that family to purchase a Movie World ticket at the hotel from the manager. They’ll get a printed voucher or SMS sent to their phone that they can then scan at Movie World when they arrive. The family can charge it to their room and pay upon checking out of the hotel if they like. What’s the benefit to the hotel or management rights? There’s a dual benefit. Firstly, the hotel or management rights is enhancing their guests’ experience by providing an additional service. They’re making it easier for their guests by giving them some information about the region their guests may not have known or giving them some local tips on what they should see and do. The hotel or management rights is then able to book these experiences directly for their guests through an easy-touse online platform. The second benefit is commission. The hotel or management rights providing this service can earn valuable revenue through Local Agent.

What sort of commission returns can a hotel see? It depends on how much they use the Local Agent service. Some accommodation providers using Local Agent are making as much as $25,000 extra revenue a year just through commissions. Let’s say an accommodation provider sells a family three-day theme park ticket on the Gold Coast for $716. Ten per cent commission on that is $71.60. It doesn’t sound like a lot, but once you apply a four- or five-times multiplier, it's between $280 and $350 on the one transaction. It’s really icing on the cake for an accommodation business for very little effort — less than a minute to be precise. What’s the downside? Honestly, there is none. Local Agent is 100 per cent free to join and there are no fees or other outlays at all. Once an accommodation provider joins, we provide them with everything they need, including all the tools and collateral, whether they display it in their reception, games room or in the guestrooms. We provide the manager with logins to access the portal where they simply tick whatever experiences their guests choose. Local Agent has thousands of experiences across Australia and New Zealand. How does Local Agent specifically help a management rights business? Local Agent provides both You Serve and Self-Serve options. You Serve is the process mentioned above. Self-Serve is where an accommodation business can still earn commission when their reception area is closed. Say, for instance, the reception closes at 5 pm. At that time, a lot of families are still coming back from theme parks and attractions and may want to book their outing for the next day. We provide a QR code self-service option, so if reception is closed the manager can put a sign on their front desk to allow guests to book their experiences. That way, the family is happy they’ve been able to book their next experience and the agent still gets the commission. No one misses out. END

Book, Play, Earn Today.

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Associate Article

However, when asked to prepare an article around the theme of the Olympics, we started to consider the increased demands on rental properties that will come from hosting the Olympics, which led us to thinking about the use of properties and how to determine what module applies (or should apply) to a particular scheme. Those already in the management rights industry will be aware that there are commonly two modules that could apply to a complex: the Standard module and the Accommodation module. To backtrack a little, a module is a more detailed set of laws that a body corporate must follow in addition to the Body Corporate and Community Management Act 1997. There are five different modules: Standard, Accommodation, Commercial, Small Scheme and Two Lot. However, there are two that commonly apply to schemes with management rights. The most known distinction between the two modules is the term of the management rights agreements. The Accommodation module allows the agreements to be for a term of more than 10 years (up to 25 years), whereas in the Standard module the agreements can be for a maximum term of 10 years.

Legal Hurdles to Choosing the Right Module Words_ Amy O’Donnell, Mahoneys

The Accommodation module does not share a lot in common with the upcoming Brisbane 2032 Olympics other than the fact that they both involve the State of Queensland and certain aspects of them may inadvertently put you to sleep depending on your preference for artistic swimming (formerly synchronised swimming) and reading the finer aspects of the counting of votes or managing your body corporate.

resortbrokers.com.au

The default position (where a scheme has not chosen any other module) is that the Standard module applies. For a complex to adopt the Accommodation module it must qualify. In order to qualify, lots within the scheme need to be “predominantly” accommodation lots (that is, lots available for rent). It is well established that “predominantly” means a majority (so, more than 50 per cent). To qualify at the time the scheme is established, it must be intended (by the developer) that lots be predominantly accommodation lots. This in effect means that the developer must have sold, or intends to sell, lots predominantly to buyers who propose to rent out their lots. Once in the Accommodation module, a complex still qualifies for that module even if lots cease to be predominantly accommodation lots. However, it is open to a body corporate at any time to transfer to the Standard module by way of special resolution at general meeting. We have recently seen the impacts of an adjudicator’s decision, where a lot owner was able to challenge the module and successfully obtained a ruling by an adjudicator from the Office of the Commissioner for Body Corporate and Community Management that the scheme was, when established, incorrectly placed in the Accommodation module and must transfer to the Standard module. The consequence of this (that is, changing to the Standard module) was that while the original agreements remained valid (and the term remained at 25 years), when the management rights agreements are assigned in the future, the term will reduce to 10 years from the assignment.

The potential transfer to the Standard module is itself (and always has been) a risk in management rights. What is new is that we now have an adjudicator's ruling that a complex never qualified for the Accommodation module (as the lots were not at that time predominantly accommodation lots). This opens up any adoption or change to more scrutiny. This will be most relevant for buyers of management rights off the plan or where the management rights is only a couple of years old. As time passes, the risk decreases (as it becomes more difficult to ascertain the number of accommodation lots at the relevant time). As always, management rights is a people’s business and a manager's poor performance (or perceived poor performance), a hostile committee or disgruntled owners heighten the risk. Where you have a good relationship with the committee, a large letting pool and satisfied lot owners, the risk will be decreased. While on the topic of letting and the Olympics, it is worth commenting on the short-term or long-term use of the lots in your letting pool. The Olympic period doesn't just run for the two weeks that the Games are

on but encompasses acclimatisation periods for athletes and support staff as well as post-Olympic celebrations (hopefully) or commiserations (unfortunately) ultimately extending this period of letting out to months and not weeks. However, caution should be exercised if you are considering attracting short-term guests. While at first glance, the Olympics presents an unique opportunity to market your business on the world stage and to a global audience, thus potentially securing tenants and repeat business from a previously unreachable target audience, changing the type of tenancy within a complex is a legal minefield raising a number of considerations, including town planning, the managed investment provisions, any restrictions in your agreements and the by-laws for your complex, to name a few. Hopefully by now, you would have realised that while Mahoneys does not possess a crystal ball, we do have the foresight and experience to identify and resolve your management rights and letting issues so that you don't have to and can instead spend your time brushing up on the updated rules and regulations of artistic swimming. END

Experts in Management Rights and Motel Law For over 20 years Mahoneys has been one of Australia’s leading management right and motels law firms.

We are a preferred supplier to the Accommodation Managers Industry and have been recognised by the peak industry body (ARAMA) for our service to the industry. Our team of industry leading lawyers regularly assist clients with:

buying and selling accommodation businesses preparing and reviewing leases, licences and service agreements renewing and varying existing management arrangements assisting with remuneration reviews, disputes and other disagreements

www.mahoneys.com.au

Brisbane office L 18, 167 Eagle Street Brisbane Qld 4000

Gold Coast office L 2, 235 Varsity Parade Varsity Lakes Qld 4230

p 07 3007 3777

p 07 5562 2959

Associate Article

We Need to Talk Words_ Mike Phipps, Mike Phipps Finance

Does that bulletin title put the shivers up your spine or what!? The statement is mostly delivered with a feeling of foreboding by someone you love, fear, admire, respect … whatever.

month of pretty much identical text with no local news or pertinent commentary about the market. The newsletters that work invariably have local news, market demand commentary, a few quotes from guests, a thank you to the committee and a property update. They also have an invitation to call the manager any time for a chat. Yes, you are busy, but if you’re too busy to talk to an owner it’s time to review priorities.

When I hear it from the managing director, I assume a dire transgression and very, very unpleasant consequences, even when I can’t recall doing anything wrong. My brain moves immediately to a state of terrified guilt from which I have no chance of countering the discussion to come.

Guest and tenant communications are equally important and again, I think many managers could do better. We’ve got a lot of clients and I only know of one that has a tenant Facebook group and active tenant retention program. I’m sure there are others but maybe not a lot. I’ve stayed at a lot of leisure properties and motels over the years, and I’ve never been invited to join a guest Facebook group. Maybe that says more about me than the operator but let’s move on. Of course, if you are going to go down the Facebook rabbit hole you’ve got to be ready for the occasional keyboard warrior. Here’s the thing. Don’t respond on Facebook, give that past guest a call. Play this right and I’ll bet your Facebook friend will become a strong advocate. Yes, I’m assuming we are all adults here which is never a good idea, but I live in hope.

And that’s a shame because we really do need to talk. In this age of digital communication, I reckon we’ve lost the ancient art of effective communication. Way ahead of operational risk I see communication risk as a significant challenge for accommodation operators and they don’t even know it. In fact, I sometimes think that operators are afraid to have in-person verbal discussions and hide that fear behind emails, texts and social media. The outcome is inevitably misunderstandings, potential conflict and limited mutual empathy. This is not good. I’m not suggesting there’s no place for digital communication, just that relying on digital alone is a bad strategy. Personal interaction combined with digital gets the best results. For many operators in the management rights industry the key communication device should be an effective and informative monthly newsletter to owners. If there’s a contentious issue to be raised or a matter that’s likely to impact owners negatively it’s important that the newsletter be a precursor to individual conversations as required. Sadly, I see very few of these that cut through and add value. Most are a rehash month after

The most spectacular examples of communication missteps tend to occur when a management rights or motel lease operator needs something from the body corporate or landlord. That’s usually a vote to extend agreements, increase body corporate salary or sever the unit for rights operators. For motel lessees, it’s usually a lease extension request. In my mind these matters must start with a verbal discussion presenting a well thought through proposition. Objections need to be expected and counterpoints prepared. In any negotiation I think it’s critical to start by acknowledging the other party’s possible concerns and offering mitigating ideas.

In this way it’s possible to own both sides of the discussion and control the narrative. I believe written communication in these sorts of negotiations should only occur once the verbal discussions have concluded. An email to the parties acknowledging the discussion and summarising the key takeaways is important as both a matter of record and to ensure that any misunderstandings can be addressed. For management rights operators I think proposals relating to critical votes such as agreement top ups and managers’ unit sever motions should be pre-empted by phone calls to all owners. In closing, a word on internet-based reviews. If it’s a past guest who gives you a sensational review don’t just say thanks, send them a bottle of bubbles. We know that independent reviews carry enormous weight with consumers. You can’t buy that sort of advertising, but you can sure say thanks. By the way, I almost never get asked to put up a Google review when

I stay somewhere and have a great experience. Talk about an argument for great communication skills combined with a call to action. Unfortunately, many operators either forget to ask, don’t think it’s important or are afraid to seek a compliment. As for the terrible review. Take a step back. Is it terrible but fair? Is it a crazy with an axe to grind? Either way it’s important to post a measured response and to also talk to the customer. I think the best strategy here is to include in your online response an invitation for the reviewer to call you to ensure they feel that they have been heard. This type of response resonates with people and paints the operator as a reasonable and approachable person. The aim here is to paint the operator as a nice person who couldn’t possibly have provided such a terrible experience. Our motto is proudly analogue in a digital age. Works for us. END

Industry finance specialists with over 80 years combined experience. Mike Phipps | Director

0448 813 090

Paul Grant | Broker

0448 417 754

Head Office 4/31 Mary Street NOOSAVILLE QLD 4566 www.mikephippsfinance.com.au

Cameron Wicking | Broker ACL (364 314)

0477 776 859

Associate Article

Your Branding & the Olympics Words_ David Adolphe, Principal, DC Adolphe Legal

With many tourism operators now making plans for the Brisbane Games, it’s a good time to consider what steps should be taken to protect their own branding and what’s permitted in connecting their branding to the Olympics.

YOUR BRANDING Ownership of the intellectual property in the branding of a business is secured by trade mark registration. Trade marks are registered with IP Australia and grant the trade mark holder the exclusive right to use the mark. This may be crucial to the branding and marketing of a business to ensure that the business can distinguish itself from its competitors and prevent others from using or misusing the valuable intellectual property rights in the business brand. The term “mark” is used to refer to both the words which form the business name and also the look of the name or a business logo. For example, the work “Qantas” is one mark and the flying red kangaroo on the tail of a Qantas plane is another separate mark. It is important when acquiring or developing a brand to conduct searches to determine if there are current trade mark holders or others who may wish to assert ownership of intellectual property rights over the business branding. Consideration also needs to be given to the nature of the mark and whether it is capable registration being distinctive and not a common or prohibited word, words or phrases.

Trade mark protection is granted for applications in certain classes of goods and services. To ensure brand protection, the application will need to correctly identify the classes associated with the brand. Trade mark registration lasts 10 years from when the application was filed. It can be continually renewed for ongoing protection. Usually, Australian businesses only seek trade mark protection to apply in Australia as this is their market. However, it is possible to extend the protection to a number of countries through one application. This is done through the Madrid System which is administered by the World Intellectual Property Organization (WIPO). This system allows for registration in over 128 countries. Trade mark protection prevents the use or misuse by competitors and others and creates assignable ownership rights in the brand in the event of a sale of the business. Whether buying or starting a business it is important to seek specialist legal advice to make sure the brand of the business is suitably protected by trade mark registration.

OLYMPIC BRANDING The International Olympic Committee (IOC) takes Olympic branding very seriously and will go to great lengths to protect it. The reason for this is one of the great revenue sources for the IOC is the sale of advertising associated with the Games. Businesses that pay for advertising are then granted certain rights to use Olympic marketing and branding together with their own branding. In Australia, the Olympic Ring Symbol (the famous five interlocking rings) and certain Olympic expressions such as ‘Olympic’, ‘Olympics’, ‘Olympic Games’ ‘Olympiad’ and ‘Olympiads’ are protected by the Olympic Insignia Protection Act 1987 (“the Act”). The Act grants the Australian Olympic Committee (AOC) certain rights such as copyright and design rights to the Olympic branding. The AOC can then take action against any businesses or persons who seek to use any of the branding without a license.

Under the Act, people are not able to register designs that include (or closely resemble) the Olympic Rings, the Olympic motto (the Latin words “Citius, Altius, Fortius” meaning “Faster, Higher, Stronger”) or the torch and flame designs. IP Australia maintains the Register of Olympic Designs. For the Brisbane Olympics, the AOC has registered trademarks for ‘Brisbane2032’, ‘Queensland2032’, ‘Team Australia’ and other expressions.

Australian tourism operators should consider the need to protect their brands in Australia and potentially overseas with intentional media and visitor attention during the Associate Article Games. They should also be mindful of AOC Olympic branding protections and restrictions when seeking to advertise their brands, particularly where they are in close proximity to Games venues and may inadvertently capture ‘Olympic’ in photographs or video content. END

David Adolphe BA LLB LLM Acc. Spec. (Bus.) - Qld Principal M: 0410 644 246 E. david@dcadolphe.com.au

David Adolphe is a Queensland Lay Society Accredited Business Law specialist and has been in practice for 20 years. He has advised clients in all manner of business transactions and takes a specific interest in tourism and hospitality matters. David takes a practical approach to delivering the best possible strategic legal advice to clients on all aspects of business and commercial law matters.

DC Adolphe Legal is a specialist business law firm provided legal advice and services to all sectors of the accommodation and hospitality industry with a particular focus on transactions involving hotels, motels, serviced apartments, pubs and caravan parks.

Events

Let’sSocial! Get

As market leader, ResortBrokers is always at major industry conferences giving presentations or forging the connections our sector thrives on. #weareeverywhere

REIQ AWARDS FOR EXCELLENCE BRISBANE

ResortBrokers Director Alex Cook took out the coveted 2023 REIQ Commercial Salesperson of the Year Award at Queensland’s real estate industry’s night of nights on 28 October. The award was the first REIQ nomination and win for Alex, and his third industry accolade this year, following his 2023 ARAMA Sales Broker of the Year Award in July, and a ResortBrokers’ team win at The Onsite Manager’s The Awards 2023 (see box on left).

THE AWARDS 2023 BRISBANE

ResortBrokers scooped the Agency of the Year Award for the fourth year running at The Onsite Manager’s annual awards event on October 13. The Awards honoured excellence for service providers within the management rights and letting industry. ResortBrokers took out this year’s top agency gong, following previous wins in 2020, 2021 and 2022. ResortBrokers was represented on the night by Managing Director Trudy Crooks, Director Alex Cook and brokers Nathan Eades, Chenoa Daniel and Frank Matus at the ceremony, which took place at The Warehouse in Brisbane’s Fortitude Valley.

LUNCH & LEARN SUNSHINE COAST

ResortBrokers’ second Lunch & Learn of 2023 saw another packed house listen to management rights experts discuss topical issues affecting Sunshine Coast operators. Emceed by ResortBrokers’ local team, Glenn Millar and Chenoa Daniel, the 12 September event at The Dock Mooloolaba drew over 40 operators.

API PROPERTY CONFERENCE 2023 GOLD COAST

ResortBrokers’ Director of New Developments & Hotels Tim Crooks presented on the topic of Room for Growth? Australia’s Hotel Story at the Australian Property Institute’s annual property conference, which was held on the Gold Coast on 19 October.

ACCOMCON GOLD COAST

NO VACANCY SYDNEY

On 31 August and 1 September, brokers Nathan Benjamin, Jacqueline Featherby, Russell Rogers, Chris Kelly and Tim Mayoh represented ResortBrokers at the annual NoVacancy exhibition at the ICC Sydney Exhibition Centre.

Managing Director Trudy Crooks moderated an all-star ResortBrokers’ panel at Resly’s AccomCon at The Star Gold Coast on 13 October. The topic for discussion was Thinking of Selling? Gold Coast Broker Todd Warner, Brisbane Broker Frank Matus and Sunshine Coast Broker Chenoa Daniel discussed hot button management rights issues.

® resortbrokers.com.au

Holmans have been our accountants for nearly a decade and have always been wonderful to work with. Glen Tarrant

What’s Cool

What’s Cool In The Industry In this festive issue of Informer, Director of New Developments & Hotels Tim Crooks checks out the world’s best Christmas hotels.

Tim Crooks m: 0417 544 562 e: tim@resortbrokers.com.au

Pole Position Ever thought of spending the night at the North Pole? No, neither have we. But Finlander Janne Honkanen has. In 2020, this self-described “luxury travel pioneer” launched North Pole Igloos, a collection of 10 standalone heated “igloos” with glass ceilings and walls that allow guests to commune with this wintry wonderland and soak in the Northern Lights while keeping toasty. Most importantly, all igloos come with loos. This unique experience comes at a premium, however. It’ll set you back more than AU$182,000, which includes two nights in Svalbard, return flights to Svalbard from the North Pole, and the main event, being a night at the North Pole itself. North Pole Igloos aren’t technically a “Christmas hotel.” They operate in April only, when temperatures rise to a baking -6°C. Cool idea or brain freeze? You decide. northpoleigloos.com

Sleek House There’s nothing like Christmas in London, and there’s nothing like Claridge’s at Christmas. This Mayfair marvel decks its halls like no other 5-star London hotel. Its signature Christmas Tree has been designed by a famed couturier each year since 2009, with creations from the likes of Dior, Lanvin, McQueens, Dolce & Gabbana, Burberry, Lagerfeld and Jimmy Choo. A three-night Christmas stay at this venerable London institution, which has been putting up the great and the good since 1856, will set you back as much as $16,000 a night for a suite, or you can slum it in one of the hotel’s regular rooms for around $3,000. The Chrissie package includes a bottle of bubbly on arrival, Christmas lunch in Claridge’s restaurant, a horsedrawn carriage ride around Mayfair, and other trimmings and trappings. Guaranteed 2pm check-out shows goodwill to all late rises. claridges.co.uk

Flake It Till You Make It If you want artificial snow, the best there is, then Singapore’s your ticket. Fake flakes have been avalanching from the Tanglin Mall Christmas Tree on Orchard Road every yuletide since 1996 and are now a kitsch institution in the Lion City where average December highs hover around 29°C. Southeast Asia’s favourite playground has never had a shortage of some of the world’s best hotels, but an upcoming opening that took our eye is The Standard. Located on Orange Grove Road, just off Orchard Road, the 143-room Standard is the hotel group’s latest decadent offering alongside sister hotels in New York, Miami, London, Maldives, Ibiza, Hua Hin and Bangkok. The Standard Singapore comes online in early 2024, with openings in Melbourne, Dublin, Brussels and Lisbon to follow in the next couple of years. The 125-room Melbourne Standard in faddish Fitzroy will be the hotel group’s first Australian location. standardhotels.com

No. #2

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I S S U E N O. 9 8 _RESORTBROKERS.COM.AU I S S U E N O. 9 8 _RESORTBROKERS.COM.AU

Australian Accommodation Property Group (AAPG) is a specialist investor and asset manager of accommodation properties. AAPG’s three trusts own freehold motel investments throughout Australia. Contact us today to discuss available opportunities.

www.aapg.com.au

Gareth Oakley Managing Director

0412 547 135 info@aapg.com.au

10% DISCOUNT FOR INFORMER READERS

Contact Ian Crooks on 0411 171 648 or ian@resortbrokers.com.au to book today.

SANDARIVILLA.COM

77 77

Local Experts Nationwide Coverage Management Rights

Motels & Hotels

Unmatched accessibility and certainty on fees.

Caravan & Tourist Parks

Partnerships & Consortiums

Suite 226 ‘Lakehouse’ 34 Glenferrie Drive Robina QLD 4226 (07) 5562 6111 www.pevylawyers.com.au

Top-ups & Lease Renewals

Structuring & Asset Protection

Work with the only law firm that delivers industry leading transaction services and advice across all accommodation business types in every state and territory. Helping hundreds of resident managers, moteliers and park operators each year to acquire, sell, protect and grow their businesses.

WHY CHOICE HOTELS? SMART PROCUREMENT SOLUTIONS

Exclusive group pricing Leverage group size of 6,000+ rooms to achieve better buying. The Marketplace is a one-stop-shop for all your procurement needs with consolidated invoicing and savings on over 10,000 products.

LOYALTY PROGRAM

High value repeat bookings Over half a million Choice Privileges™ members and growing monthly. Drive repeat bookings and reward your guests for their stays with accommodation, airline points and more.

IN 2023 BE IN BUSINESS FOR YOURSELF, NOT BY YOURSELF. Call 03 9243 2500 JoinChoiceHotels.com.au

Sold Properties

Our Deals Settle SOLD

SOLD

MOTEL LEASEHOLD PORT AUGUSTA, SA

MANAGEMENT RIGHTS BURLEIGH HEADS, QLD

MANAGEMENT RIGHTS CHERMSIDE WEST, QLD

MANAGEMENT RIGHTS WEST END, QLD

MOTEL FREEHOLD WODONGA, VIC

SOLD

MOTEL LEASEHOLD CHARLEVILLE, QLD

MOTEL FREEHOLD BEACHMERE, QLD

SERVICED APARTMENTS SINGLETON, NSW

MOTEL LEASEHOLD TOOWOOMBA, QLD

MANAGEMENT RIGHTS NEWSTEAD, QLD

SOLD

MOTEL LEASEHOLD MERIMBULA, NSW

MANAGEMENT RIGHTS PALM BEACH, QLD

MOTEL LEASEHOLD PORT MACQUARIE, NSW

MOTEL LEASEHOLD YASS, NSW

MANAGEMENT RIGHTS PORT DOUGLAS, QLD

SOLD

MANAGEMENT RIGHTS PORT DOUGLAS, QLD

MOTEL LEASEHOLD TAMWORTH, NSW

MOTEL PASSIVE INVESTMENT COLLINSVILLE, QLD

MANAGEMENT RIGHTS TARRAGINDI, QLD

MOTEL PASSIVE INVESTMENT COOTAMUNDRA, NSW

SOLD

MOTEL LEASEHOLD MARYBOROUGH, QLD

CARAVAN / CABIN PARK BURRUM RIVER, QLD

MOTEL FREEHOLD MOUNT GAMBIER, SA

MOTEL FREEHOLD CHARTERS TOWERS, QLD

MOTEL PASSIVE INVESTMENT TOWNSVILLE, QLD

SOLD

MOTEL FREEHOLD CHARLEVILLE, QLD

MANAGEMENT RIGHTS ESPERANCE, WA

CARAVAN / CABIN PARK HARVEY, WA

MANAGEMENT RIGHTS MOOLOOLABA, QLD

MOTEL FREEHOLD HERVEY BAY, QLD

SOLD

MOTEL LEASEHOLD CARDWELL, QLD

MOTEL FREEHOLD DIRRANBANDI, QLD

MANAGEMENT RIGHTS PARKINSON, QLD

MANAGEMENT RIGHTS TARINGA, QLD

MANAGEMENT RIGHTS INDOOROOPILLY, QLD

SOLD

SERVICED APARTMENTS WODONGA, VIC

MANAGEMENT RIGHTS NOOSA HEADS, QLD

CARAVAN / CABIN PARK BOWEN, QLD

MOTEL FREEHOLD BLACKALL, QLD

MANAGEMENT RIGHTS MAROOCHYDORE, QLD

Regular Feature

Need A Break?

Relief Managers

Please note: this is simply a directory service that we provide to assist you. Should you choose to go on holiday or take a break, we recommend you interview and qualify relief managers yourself, before hiring. You’ll find more managers listed on our website: resortbrokers.com.au/buy/reliefmanagers

DILYS & NEIL HARVEY

KARLA HARDING

DAVID & SANDRA CAIRNS

Motels Nationwide

Holiday & Serviced Apartments, Resorts, Boutique Hotels, Bed & Breakfasts

Management Rights QLD

0420 948 996 neil.dilys@xtra.co.nz

0414 767 499 karla.boutiqueaccomrelief@outlook.com

0411 335 539 moretonbeachhouse@bigpond.com

RICHARD TEMPLE

SABINA WUNSCH

FRED BISHOP

All property types, Australia Wide

Motels Nationwide

0412 567 214 richard@rmtsolutions.com.au

0413 155 648 info@swmotelyadvisory.com.au

0429 444 010 flashb2261@yahoo.com.au

CARMEL MOLONEY

ROGER ANDREWS & JILLIAN CAIN

PETER & MICHELLE JACOBI

Motels QLD Coast

Hotels & Motels, VIC & SA

Motels & Caravan Parks Nationwide

0400 483 291 c.m.j64@hotmail.com

0488 780 071 0403 021 504 jilliancain@optusnet.com.au

0427 183 416 casabargara@gmail.com

VICTORIA MCDONOUGH & BRENDAN HUGHES

LEIGH & GEMMA PETERS

SUE BARTON

Motels, East Coast

All property types Australia Wide

Motels Nationwide

0412 138 642 vickymcdonough@bigpond.com.au

0432 267 751 geleatham@gmail.com

0432 411 900 bartonsue@rocketmail.com

resortbrokers.com.au

GRANT SKINNER

THE GOOD KNIGHTS

CHRISTINE WILMOTT

Management Rights Nationwide

All property types Nationwide

All property types QLD

0408 996 188 grantandjuliet@bigpond.com

0412 005 537 info@thegoodknights.com.au

0413 452 263 christine.09@bigpond.com

MARTIN & LOMA BARNARD

PAUL & TANYA GREEN

SCOTT & LIN MCKENZIE

Strata Complexes, Resorts & Motels Australia Wide, with QLD & NSW preference

All property types NSW

Management Rights Brisbane Only

0403 364 008 dixlin1962@gmail.com

0411 874 392 tanyacooper1@msn.com

0451 010 117 scott@mcwu.com.au

JOHN & SUSAN DONE

KAREN & ROBERT NISBET

GRAEME & DEBORAH FILIPPE

All property types Nationwide

Motel & Caravan Parks Nationwide

Motels, NSW & VIC

0447 077 420 suedone@mac.com

0427 933 414 0488 934 899 karen.nisbet70@gmail.com.au

0427 512 751 graemedebmotelmanagers@outlook.com

SHARON & STEPHEN DEWSBURY

CHARLES & COLLEEN LUBANS

BAY6 MOTEL MANAGEMENT

All property types Nationwide

Management Rights QLD

Motels Nationwide

0402 142 075 sharon@airliebeach.net.au

0432 586 099 colleenlubans@hotmail.com

0416 016 614 info@businessbay6.com.au

GEORGIANNA DYSON

THOMAS GRAF

CHRIS CAMPBELL

Motels Nationwide

Management Rights, Motels, Caravan Parks & Resorts, Nationwide

Motel & Management Rights Nationwide

0438 527 894 georgi1440@icloud.com

0438 014 035 07 4032 1573 tomas49@me.com

0449 957 414 cj.jwcampbell@gmail.com

KRISTY & LANCE BUTT

BRUCE DRURY

CHARLIE MILLINGTON & JACKY RYAN

All property types QLD & NSW

Motel & Caravan Parks Nationwide

Caravan Parks & Motels Nationwide

0428 902 878 kristymay22@outlook.com

0428 631 573 bruceandsandra34@gmail.com

jacquelineryan1@bigpond.com

resortbrokers.com.au

Regular Feature

Meet our team Introducing ResortBrokers' national team of accommodation business and property brokers. We are the industry experts at your service in every state and territory.

IAN CROOKS

TRUDY CROOKS

TIM CROOKS

ALEX COOK

Chairman Nationwide

Managing Director Nationwide

Director of New Developments and Hotels, Nationwide

Director Nationwide

0411 171 648 ian@resortbrokers.com.au

0477 882 210 trudy@resortbrokers.com.au

0422 208 450 tim@resortbrokers.com.au

0467 600 610 alex@resortbrokers.com.au

CARLA COOK

MARISSA VON STIEGLITZ

REBECCA ROEBEN

CAITLIN O’HALPIN

Director of Marketing and Strategy, Nationwide

Operations Manager Nationwide

Chief Administrative Officer

EA to Tim Crooks & Alex Cook

0467 600 611 carla@resortbrokers.com.au

0437 198 164 marissa@resortbrokers.com.au

07 3878 3999 rebecca@resortbrokers.com.au

07 3878 3999 caitlin@resortbrokers.com.au

JESSIE SHI

JEFF KEAST

NATHAN EADES

FRANK MATUS

Broker Brisbane

0422 935 428 jessie@resortbrokers.com.au

0414 669 007 jeff@resortbrokers.com.au

0448 339 920 nathan@resortbrokers.com.au

0435 742 698 frank@resortbrokers.com.au

resortbrokers.com.au

SYD DOUGLAS

TODD WARNER

CLINT AMOS

MIGUEL BOZINA

Broker Central Gold Coast

Broker Gold Coast South & Northern NSW

Broker Northern Gold Coast

Broker Gold Coast & Northern NSW

0427 973 537 syd@resortbrokers.com.au

0438 170 763 todd@resortbrokers.com.au

0482 061 261 clint@resortbrokers.com.au

0419 848 444 miguel@resortbrokers.com.au

GLENN MILLAR

CHENOA DANIEL

D A V I D FAI E R S

NATHAN BENJAMIN

Senior Broker Sunshine Coast

Broker Sunshine Coast

Broker Sunshine Coast & Fraser Coast

Broker Central QLD

0412 277 804 glenn@resortbrokers.com.au

0403 143 151 chenoa@resortbrokers.com.au

0432 766 788 davidf@resortbrokers.com.au

0459 955 649 nathanb@resortbrokers.com.au

DES FAGG

GLEN CUMMINS

SHANE CROGHAN

JASON VOGLER

Broker Townsville and Surrounds

Broker North QLD

Broker Far North QLD

Broker South East & South West QLD

0427 849 119 des@resortbrokers.com.au

0427 215 863 glen@resortbrokers.com.au

0418 451 006 shanec@resortbrokers.com.au

0427 431 213 jasonv@resortbrokers.com.au

KELLI CROUCH

RUSSELL ROGERS

SARAH HUTCHINS

CHRIS KELLY

Broker South Australia & Northern Territory

Broker NSW South Coast

Sales Manager to Russell Rogers, South Coast NSW

Broker NSW Central West

0410 441 750 kelli@resortbrokers.com.au

0416 166 909 russell@resortbrokers.com.au

0407 020 443 sarah@resortbrokers.com.au

0431 055 221 chris@resortbrokers.com.au

JACQUELINE FEATHERBY

BLAIR MACDONALD

TIM MAYOH

JOSHUA ROBERTS

Broker NSW Central Coast, Hunter & Blue Mountains

Broker Western Australia

Broker Greater Sydney

Broker Mid North Coast NSW & New England

0424 497 056 jacqueline@resortbrokers.com.au

0433 149 144 blair@resortbrokers.com.au

0419 038 882 tim.m@resortbrokers.com.au

0439 654 464 joshua@resortbrokers.com.au

RYAN KIDD

ELLEN O’NEILL

JOSH MANGLESON

JOHN MILLER

Graphic Designer

Property Economist

Content and Communications

07 3878 3999 ryan@resortbrokers.com.au

07 3878 3999 ellen@resortbrokers.com.au

07 3878 3999 josh@resortbrokers.com.au

07 3878 3999 john@resortbrokers.com.au

KIRSTEN JOHNSON

J O A N N E C A M P B E L L

VASA THEODOULOU

KYLIE WARNER

Head of Administration, Nationwide

Receptionist/ Admin Assistant

Financial Controller, Nationwide

Accounts Administration, Nationwide

07 3878 3999 kirsten@resortbrokers.com.au

07 3878 3999 joanne@resortbrokers.com.au

07 3878 3999 vasa@resortbrokers.com.au

07 3878 3999 kylie@resortbrokers.com.au

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