INFORMER Super-Charged - On the road to retirement - Resort Brokers
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Australia’s No.1 tourism & business
INFORMER
No. 79 | June 2015
Super-Charged
On the road to retirement
5 - 2015
8
19
resortbrokers.com.au
inside...
MINOR - HOTEL GROUP FEATURE 9
MIKE O'CONNORS COLUMN 12
MANY FACES: JULIEANNE ALROE 16
KEEPING A WATCH ON MOTEL COSTS 20
DISRUPTORS TO M.R.
FEATURE: SUPER-CHARGED 32
REGIONAL OVERVIEW - MANDURAH 54
EXCLUSIVE LISTINGS 57
RELIEF MANAGERS 58
SOLD PROPERTIES 59
AGENT PROFILE - ANDREW RENDALL 60
INDUSTRY SPECIALISTS 61
MEET OUR TEAM 62
APPETITE FOR
Investment
All the speculation around the budget did Australian accommodation assets. Recent
focus attention on issues surrounding big-ticket hotel sales have including the
IAN CROOKS pensions, superannuation and retirement Sheraton Mirage ($160m) and Marriott
planning. ($85m) resorts on the Gold Coast, Sydney
MANAGING DIRECTOR I recently heard an economist say he’d love Hilton ($442m), and Sofitel Sydney
to see a TV show called ‘Master Economist’, Wentworth ($224m). That was just in May!
ARE YOU CONFIDENT YOU’RE SET UP FOR THE or ‘My Super Rules’. He was bemoaning the Resort Brokers has just sold the Soul
FUTURE, FINANCIALLY SPEAKING? HOW MUCH fact so few of us bother to take more than a Surfers Paradise management rights to
cursory interest in our financial futures. Mantra Group. Our campaign stirred up
WILL YOU HAVE IN YOUR RETIREMENT KITTY? MORE Even people not that interested in enormous interest and several competitive
IMPORTANTLY, HOW MUCH INCOME WILL YOUR cooking seem to be fascinated by prime-time bids. While the sale price remains
NEST EGG EARN FOR YOU? WILL IT BE ENOUGH? shows about meal-making. He reckons it’d be confidential, it certainly set a new Australian
OUR STORY GIVES YOU THE LOW-DOWN ON LOW great if we got half as excited about financial management rights record, which would
TAX, OFFERS TOP TIPS FOR TOPPING UP, AND planning. make it the biggest management rights
Everyone hailed the relatively small sale in the world.
REVEALS THE ‘EIGHTH WONDER OF THE WORLD’!
tax bonuses in the budget. Yet many don’t A major international player now on the
(SEE PAGE 32) take full advantage of incredibly generous acquisition path is Minor Hotel Group. We
What a difference a year makes! After tax breaks already available through profile them in this issue, in anticipation of
last year’s belt-tightening Federal Budget, superannuation. This issue’s cover story their increasing presence in the Australian
business and consumer confidence fell. might be a wake-up call for many. market. All this market activity is a great
But the government’s much more positive Of course, economic considerations sign of industry expansion.
2015 approach already seems to be paying are always top of mind on the business Also in this issue, you’ll meet the
dividends. front. One relatively new cost pressure for impressive woman at the controls of the
Confidence jumped to its highest level accommodation operators relates to the burgeoning Brisbane Airport. Julieanne
for some time after the RBA’s interest rate cut growing influence of online travel agents Alroe set her sights on a career in aviation
and release of the budget measures. Small (OTAs). One of our stories in this edition looks and has soared. Plus, there’s plenty more
business tax cuts and the immediate $20,000 at the impact. For example, when doing great reading and food for thought from
write-off on new assets were well-received. figures for a new 170-room hotel recently, our expert contributors and industry
It’s a stimulus package, plain and simple I had to increase forecast operating costs experts. Enjoy.
- an adrenaline hit for the economy. And by 7%, just to allow for the fact over 70% of
the word from my accountant friends is that bookings will come via OTAs. GOT ANY COMMENTS? GET IN TOUCH:
it’s working. Now we just need to keep the On a positive economic note for tourism, CARLACOOK@RESORTBROKERS.COM.AU OR
momentum going. there is currently a big appetite for quality PO BOX 5004, WEST END QLD 4101
resortbrokers.com.au 3
Exclusive LH
#simple
#simple
#simple
Connect to the world’s leading travel channels
Connect to the world’s leading travel channels
Connect to the world’s leading travel channels
Iconic Tasmanian resort hotel leasehold
returning 39% on investment
An opportunity to secure the leasehold interest of a 4 star purpose Many tourists use St. Helens as their base when visiting the many
built hotel, constructed in 2006. Tidal Waters Resort St Helens, tourist attractions on the east coast of Tasmania including the Freycinet
surrounded by three hectares of scenic lagoons and gardens, boasts Peninsular, Wineglass Bay and the Bay of Fire.
the definitive Tasmanian East Coast waterfront setting.
•E ast Coast seaside tourism and holiday mecca overlooking St.
Conveniently located in the seaside town of St Helens on the East Georges Bay
Coast of Tasmania, two and a half hours north-east of Hobart and •S ubstantial resort facility constructed in 2006
one and a half hours from Launceston, Tidal Waters is a true resort/ •R eturning 39% on Investment
corporate facility. With 60 motel suites, a magnificent entrance foyer • L ong lease. Market rent
and reception and facilities including a conference, wedding and •C onsistent incomes from accommodation, conferences, functions,
function centre, meeting rooms, two restaurants, bar, guest lounges, food and beverage
tour desk/shop, outdoor heated pool, guest laundry, outdoor deck and • Easy access to Hobart, Launceston and mainland ferry service
substantial on-site parking.
The business is fully staffed with limited day to day vendor
involvement. The business has an excellent trading history and will
improve with a fresh management style.
Nett: $515,278
St. Helens has developed as a major Tasmanian holiday destination
for Tasmanians and tourists seeking a seaside holiday adventure or
Price: $1,320,00 (plus stock)
fishing pursuits. resortbrokers.com.au/motels-for-sale/LH003565
Jim Chapman
Broker
Mobile. +61 413 444 782
Email. jimchapman@resortbrokers.com.au
Melbourne Office. 03 9347 3100
4 resortbrokers.com.au
Call 07 5574 4990 or email sales@hirum.com.au to order yours today!
Exclusive FH Exclusive MR
Highly sought after freehold caravan park - Successful waterfront management rights on
only one in popular tourist town stunning Magnetic Island
Resort Brokers Australia are excited to offer the freehold going There is also a camp kitchen and tennis court. This park offers One Bright Point is an extremely successful management rights The current owner has decided to sell. This opportunity represents
concern of Cooma Snowy Mountains Tourist Park, located on the an excellent opportunity to secure a large regional caravan park business located on the southern end of stunning Magnetic an 18% return on investment including the unit - great security and
outskirts of town. It is a fully serviced site zoned for mixed use to take to the next level and lends itself to Manufactured Home Island - a stone’s throw off the coast of Townsville. There are 124 cash flow for an operator. The market is generated from residents,
development under the LEP with an area of 4.178 ha (just over 10 Permanent Living (STCA) apartments allowing for a variety of holiday and corporate pursuits, holiday makers, corporate and weekenders. Wow! An opportunity
acres)on three separate titles. whilst taking in breathtaking views. not to be missed.
The opportunities are endless for the new operators to take this
Situated in the heart of the Monaro region and at the gateway to park to the next level. Approximately 2,500 people live on Magnetic Island and in the • Large three bedroom apartment which would suit a family or couple
the states alpine area, Cooma Snowy Mountains Tourist Park is a holiday periods, the island can experience a growth of up to 10,000. • Seaside Island location – work & lifestyle living
• Large site with ample park development potential or ability to sell Townsville is across the bay and has a population of approximately • Opportunity to increase letting pool – obtain outside agent
perfect base to explore the many attractions the Snowy Mountains
off undeveloped land 190,000 people expected to increase to around 315,000 by 2036. apartments
has to offer year round. What used to be a seasonal area with
• Multiple titles for easy sub-division • Great cash flow business
high tourist population during the ski season has now become The property benefits from international branding from Grand
• Fully serviced site on boundary of town • Future opportunity for conferences as it is currently an untapped
a popular year round destination, with a range of recreational Mercure. An impressive reception offers a professional touch to the
• Currently run under management market
activities conducted through the summer months. These have been presentation of the property. A function/conference room allows
• Enormous upside potential
developed over recent years to help strengthen the economic and for the current operator to cater for smaller business groups.
tourist patterns on a year round basis.
Nett: $306,686 The complex has large open areas, in-ground resort swimming Nett: $675,000
The park has approval for 92 sites and includes a two storey shop/ pools, gym areas and stunning oceans views. The residence is
office /first floor flat, a detached three bedroom manager’s residence,
two brick amenity blocks, developed van sites, basic camping sites
Price: $1,850,000 adjacent to the reception area with a large open office space and
three bedrooms with outdoor living areas.
Price: $3,450,000
and numerous configurations of cabin accommodation. resortbrokers.com.au/caravan-parks-for-sale/FH003768 resortbrokers.com.au/management-rights-for-sale/MR003743
Russell Rogers Shane Mullins Des Fagg
Broker Broker Broker
Mobile. +61 416 166 909 Mobile. +61 447 185 001 Mobile. +61 427 849 119
Email. russellrogers@resortbrokers.com.au Email. shanemullins@resortbrokers.com.au Email. desfagg@resortbrokers.com.au
Sydney Office. 02 9904 8224 Head Office. 07 3878 3999 Head Office. 07 3878 3999
6 resortbrokers.com.au resortbrokers.com.au 7
EDITORIAL Anantara - Maldives
the Oaks brand and we have been actively
exploring opportunities to bring some of our
other brands to the Australasia region.”
It was a move Mr Rajakarier had
Major
foreshadowed back in 2013 when he told The
Australian newspaper that, despite a decline
in commodity prices, Minor was eyeing
expansion in mining centres, including in
DILLIP RAJAKARIER - CEO
the resource-rich states of Queensland and
Western Australia.
PLANS
True to his word, MHG went on to
open the 144-room, 4.5-star Oaks Grand
Gladstone, a wholly-owned hotel, in February
2014. Speaking to HM at the opening,
Mr Rajakarier again flagged aggressive
expansion in Australia. Since then, four new
IN THIS SERIES OF ARTICLES, WE PROFILE LEADING SHORT- Oaks properties have opened in Melbourne,
TERM ACCOMMODATION OPERATORS – THEIR ORIGINS, Brisbane and two in Mackay.
MHG’s hotel business incorporates four
GROWTH, MARKET POSITION, AND FUTURE PLANS. operational models: owned hotels, joint
venture hotels, management hotels (all
AS RECENTLY AS FIVE YEARS AGO, MINOR HOTEL GROUP WASN’T of which are managed under Minor’s own
A NAME LIKELY TO COME UP IN ANY DISCUSSION OF AUSTRALIA’S brands), and management of serviced suites
(the Oaks management rights model). MINT
ACCOMMODATION LANDSCAPE. NOW, MINOR IS A SIGNIFICANT also operates more than 55 spas in leading
PLAYER IN THE AUSTRALIAN MARKET, AND THEY HAVE MAJOR hotels in 15 countries.
“We have an opportunistic acquisition
PLANS TO EXPAND THEIR PROFILE AND PRESENCE. strategy … unlike some other big players,
we’ll consider anything that complements our
Minor Hotel Group (MHG) is the hotels arm existing portfolios,” Mr Rajakarier said.
of listed Thai company Minor International Aside from the Perth announcement, major
PCL (MINT), a global business focused on international growth steps made already this
hospitality and lifestyle products and services. year include a strategic move into Europe and
MHG is an owner, operator and investor South America with the acquisition of a 1,600-
with a hotel and resort portfolio of over 130 key hotel portfolio in Brazil and Portugal and,
properties comprising more than 17,000 keys through Elewana, taking a majority stake in
in 22 countries across Asia Pacific, the Middle four Kenyan properties.
East, Europe, South America, Africa and the The Perth development announcement
Indian Ocean. in April has again raised awareness in
What began in 1978 with one small tourism industry circles around Australia of
beachfront resort in Pattaya, followed Anantara - Bangkok Anantara - Bangkok Oaks - Broome Minor’s acquisitive intentions. Mr Rajakarier
by a single pizza restaurant in 1980, has confirmed Minor was actively bidding for
mushroomed into one of Asia’s largest several Australian sites.
restaurant companies (1,700+ outlets under “We are still looking for an Anantara
various brands), one of Thailand’s biggest to come to Australia … we are looking at
distributors of lifestyle and fashion brands, Brisbane, Melbourne, the Gold Coast,” he
and a hotel industry powerhouse. said.
Minor’s accommodation brands include The most upmarket and experiential brand
its uber-luxurious Anantara and upscale in the Minor stable, Anantara is a Sanskrit
AVANI brands, both Thai-born, Per AQUUM, word meaning ‘without end’. The ‘Anantara
Elewana, Tivoli and Oaks. MHG also owns two experience’ seeks to bring guests closer to the
Marriotts, three Four Seasons, a St. Regis and rich cultural traditions, historic heritage and
Oaks - On William Anantara - Maldives Avani - Pemba
a Radisson Blu. It was the Oaks acquisition natural beauty of each location.
that gave them their Australian launch pad. The concept has been introduced at
While the company was already active breathtaking destinations in Cambodia,
here, having bought a 50% stake in our now with a portfolio of 51 properties across Queensland, New South project mark the debut in Australia of the AVANI Hotel and AVANI China, Indonesia, Maldives, Mozambique,
largest café group The Coffee Club in 2008, Wales, Victoria, South Australia and Western Australia, as well as in New Residences brands with an investment worth more than $110 million. Qatar, Thailand, UAE, Vietnam and Zambia.
it wasn’t until 2011 that Minor entered the Zealand, Thailand and the United Arab Emirates. Announcing the news, Minor said a 250-room four to five star hotel So, we will watch with interest to see which
accommodation arena. And it did so with a Driving MHG’s rapid international expansion is CEO Dillip Rajakarier and 15-level serviced apartments building would “introduce the AVANI Australian location ultimately befits the
major play. (also COO Minor International), who oversaw the acquisition of Oaks brand hallmarks of essential comforts such as design for life living Anantara experience of “laid-back luxury,
Minor bought the financially strapped and is now tasked with growing the group’s global portfolio to 150 hotels spaces, good honest food and all the details that matter for a fuss-free intuitive service and a sense of discovery.”
Oaks Hotels and Resorts, then with 35 by 2020. seamless stay.” Our first AVANI Hotel is due for completion by the end In the meantime, parent company Minor
apartment properties across five states, That will involve significantly building Minor’s upmarket home of 2017. International continues to expand its food
paying a reported $160 million. It was their grown brands, Anantara and AVANI, along with strategic acquisitions “We are very excited to announce this new hotel and residential group here. Its growing portfolio of The
first foray into the Pacific and, at the time, in a number of countries. Australia is set to figure prominently in that development in the centre of Perth, which represents, in parallel, a Coffee Club and Ribs & Rumps restaurants
doubled Minor’s international hotel interests. development plan, and the wheels are already in motion. significant investment for the group, the introduction of the AVANI was augmented last year when it took a 70%
The company has since invested strongly In its biggest Australian move since buying Oaks, Minor recently won brands to Australia, as well as a new destination for Minor Hotel Group stake in Melbourne’s VGC Food Group, which
in expanding Oaks as one of Australia’s largest the rights to develop two sites in the $5 billion Perth City Link project. with Australia,” Mr Rajakarier said on winning the competitive Perth bid. owns Veneziano Coffee Roasters, The Groove
self-contained accommodation providers, Plans for a twin-tower development in the prime CBD regeneration “Minor Hotel Group is already well established in the country with Train and Coffee Hit. END
8 resortbrokers.com.au resortbrokers.com.au 9
Exclusive MR Exclusive OTP
STAGE 1 - EDEN LANE STAGE 2 - IVY TERRACE
STAGE 3 - LEXINGTON STAGE 4 - AKIRA
Business and lifestyle merge in the heart of Funky new lane way development in
Port Macquarie! Wooloongabba
Resort Brokers proudly present the beautiful Mantra Quayside • 41 x luxury 4 star premium apartments - configured to suit both the Resort Brokers Australia are delighted to offer exclusively to the All three body corporates have their own managers office and
Apartments. Centrally located on the edge of the Hastings River, within corporate traveller and holiday maker market the hottest new permanent management rights to hit South storage areas (on exclusive use), ideal if you wanted to sell them off
walking distance of the CBD. • High net profit – great return on a quality business East Queensland - Eden Lane, Ivy Terrace, Lexington and Akira in separately. There are no set office hours in the agreements allowing
• Idyllically located - stunning water views and an abundance of Wooloongabba. greater work flexibility.
Seldom does such a high netting and modern business and living
cafes, restaurants and boutique stores at your door Eden Lane & Ivy Terraces together, consist of 205 plus apartments.
opportunity hit the market, not to mention the ease of caretaking and • Brand new 25 year agreements
• Contemporary facilities, including rooftop pool and BBQ area with a The residential agent and developer anticipates a high percentage
state of the art facilities to go with it. • Extensive existing surrounding amenities including Coles
spectacular sea outlook and a large fully equipped gymnasium of investors given the price point, high rental returns and fantastic Supermarket, 24 hour gym and Nandos
In addition to the current business prospect, you will be set to benefit • Maximum terms for care taking and letting agreements are a urban location, combined with one of the lowest vacancy rates of • Boutique retail offering within the complex, boasting some of the
from the neighbouring proposed development plans, as well as the condition of sale any suburb in Brisbane. best cafes and restaurants in Brisbane
imminent beautification of Port Macquarie’s central business district. • Reputable and successful Mantra branding in place as a marketing
The projected net income of $644,847 is based on 90% investors • Four stages so there are no more than 50 units coming on at one
service agreement not encumbered to new owners
The Port Macquarie region is perfectly located halfway between and 10% owner occupiers based on the style of product, location and time
Sydney and Brisbane and is one of the most popular tourist channels in which it has been sold.
destinations on the NSW coast. A place of natural beauty the Hastings
area is renowned for its wonderful beaches, scenic hinterland and Nett: $350,000 The business consists of three body corporates over four stages, Nett: $644,847
so there is not an excess of product coming online at once. Eden
beautiful waterways. It also hosts a variety of annual events and
festivals, providing fully occupied accommodation houses regularly. Price: $2,095,000 Lane (stage 1) & Ivy Terrace (stage 2) are under one body corporate
with a stunning swimming pool, gym and communal grassed area/
Price: $3,030,780
The current operators have firm future plans and have left the brief to resortbrokers.com.au/management-rights-for-sale/MR003759 gardens. Lexington (stage 3) and Akira (stage 4) are under separate resortbrokers.com.au/management-rights-for-sale/MR003741
SELL! body corporates.
James Carrick Tim Crooks
Broker Broker
Mobile. +61 400 664 065 Mobile. +61 422 208 450
Email. jamescarrick@resortbrokers.com.au Email. timcrooks@resortbrokers.com.au
Sydney Office. 02 9904 8224 Head Office. 07 3878 3999
10 resortbrokers.com.au resortbrokers.com.au 11
EDITORIAL Exclusive LH
HAVING A SUPER TIME AS THE RETIREMENT
Mirage Shimmers The best of both worlds, two businesses in
BY MIKE O'CONNOR
one! Leasehold offering
There was a time when my gaze was instantly enough for what economists like to describe the one you’ve watched go up and down with
drawn to any headline containing the words as a "comfortable" retirement. your blood pressure for the past 15 years and The historic Club Motel & Globe Serviced Apartments are situated • 30 x motel suites plus 4 x 4 star serviced apartments
"sex" or "naked". Now its "super." The moment you think this, interest are about to grasp it with both hands when in the city centre of Wagga Wagga and close to the interstate • The motel is a turnkey, fully refurbished, 30 suites, 150 metres
If the headline manages to feature rates start heading towards the floor while another politician appears on the TV screen. railway station. There are many restaurants, hotels, galleries, away from the Main Street
"naked" as well as "super," that’s a bonus politicians start talking about changing the "We’re going to have to change the museums, theatres and retail shops nearby. • Wagga Wagga is the largest regional city in NSW
but it’s "super" that has become the focus of rules. rules," he says. Why? Because, perhaps, • The Globe Apartments are 4 x two bedroom apartment blocks,
my existence. That "comfortable" retirement becomes there’s a chance that if you get your clammy The motel has been operated under management, so it would
formally the Globe Hotel
There are a number of stages in a a mirage shimmering in the distance. You can hands on that money, you’ll blow it all on benefit from owner operators with a hands on approach to
• The quality and design is second to none and enjoys high occupancy
person’s "super" life. The first is when you see it but the closer you get to it, the further $10,000 a night hookers and first class airline operations.
•B ed and breakfast only as there is a very well established Thai
think it’s only for old people and as you are away it becomes. tickets.
In addition to the motel are the Globe Serviced Apartments, the restaurant leased on the site
never going to get old, you won’t need it. You turn on the six o’clock news and Then, when it’s all gone, you’ll go on the
The next occurs when you realise that in an economist is telling you that the money pension and become a burden on society. newest and most unique boutique accommodation in the heart • Brand new lease to be actioned on settlement
spite of your best efforts to the contrary, the sitting in your super fund is not enough to The thought of doing this has never of Wagga Wagga. The apartments feature fresh, modern interiors • Neat as a pin. Worthy of your immediate inspection!
intervention of the medical profession will fund a comfortable retirement. entered your mind but suddenly, it doesn’t and contemporary furnishings for the discerning traveller, as well
as full kitchen facilities and a private balcony or courtyard. Each
ensure you do get old. Then a politician appears and tells you seem like such a bad idea.
apartment offers comfort, privacy and security.
Nett: $303,857
You tell them that you haven’t got any that because you have sweated blood for the "We’re going to give you a pension from
super and can’t afford to get old but they
insist on treating your life threatening
past 15 years building a super balance, you
are now classed as a rich person and your
your super and you can live off that" says
the politician, who when he retires under The vendor is offering a new 30 year lease with market rent to the Price: $1,000,000
conditions and prolonging your existence. super earnings should be taxed. one of the most generous parliamentary successful purchaser. resortbrokers.com.au/motels-for-sale/LH003720
At this point you realize you have a You find this confusing because the superannuation schemes in the world, will
problem and start salary sacrificing into a economist has just finished telling you that have to struggle by on $200,000 a year.
super fund.
Suddenly, you are in your late fifties and
the money in your super isn’t enough to fund
that elusive "comfortable" retirement. How
You wonder if he’ll manage to have a
"comfortable" retirement and guess that this
Andrew Rendall
find yourself going on-line and checking your can you be rich? is highly likely. Broker
super balance twice a day. Why, you wonder, when you have tried to My wife and I have the retirement
Every time the share market hiccups, you be self sufficient are you now being portrayed discussion several times a week. "When we Mobile. +61 412 635 344
get palpitations and have to go and lie down. as an enemy of society who must be punished will retire?" I ask.
As retirement nears, you think that you for having saved money on which you have "Another couple of years," she replies. Email. andrewrendall@resortbrokers.com.au
have managed to dodge a financial bullet already paid tax? "Then we’ll have enough for a comfortable
and managed, only just, to have accumulated You have that lump sum in your super, retirement." END Sydney Office. 02 9904 8224
12 resortbrokers.com.au resortbrokers.com.au 13
Quest Mounts Bay Road
Brand new Quest
Perth - Quest East Perth
176 Adelaide Terrace, WA
Opportunities
• Total Of 98 Apartments, 130 Keys
• 64 studios, 50 X 1 bedroom, 16 X 2 bedroom apartments
• 850m From Royal Perth Hospital
• Initial 15 Year Lease With Further 3 X 15 Year Options.
• 18 Level High-Rise Building With Two Passenger Lifts
• Ground Floor Heritage Church Providing Unique Lobby
• Conference Facility With Connected Kitchen And Store Room
• Guest Laundry Facility, Gym, BBQ Roof Terrace, Car Parking.
Quest Chermside on Playfield Price: $2,600,000 (+ $285,000 EBI) + GST
As with all Quest properties, all five 'Greenfield' sites will be finished
Expected opening date March 2016
to a 4.5* standard, ensuring the quality of product expected by Quest
customers. All apartments will have fully fitted kitchens, bathrooms, For Enquiry contact Jim Chapman 0413 444 782
laundry facilities (except with some studios), separate living and
dining areas (except with studios), internet access, Foxtel, DVD, stereo
and quality furniture and fittings. Sydney - Quest Bella Vista
24 Norbrik Drive, Bella Vista, NSW
• Total of 91 apartments, 147 keys
Brisbane - Quest Chermside on Playfield
• 56 studios, 56 X 1 bedroom, 27 X 1 bedroom, 8 X 3 bedrooms
apartments
38 – 40 Playfield Street, Chermside, Qld • 100M from Norwest Private Hospital
• Initial 14 year lease with further 14 year option
• Total of 48 apartments, 78 keys • 7 storey building with two passenger lifts
• 36 X 1 bedroom, 30 X 1 bedroom, 12 X 2 bedroom apartments • Conference facility with connected kitchen
• 100M from Westfield Chermside • Ground floor reception facilities with two office spaces
• Initial 15 year lease with further 2 X 5 year options.
• Guest laundry facility, business lounge, staff kitchen, gym, lobby
• 6 storey building with one passenger lift
• Ground floor reception facilities including office space Price: $2,940,000 (+ $320,00 EBI) + GST
• Conference facility and external breakout area Expected completion date May 2016
• Guest laundry facility, staff kitchen, gym, lobby, 56 car spaces. For Enquiry contact Jim Chapman 0413 444 782
Price: $1,560,000 (+ $180,000 EBI) + GST
Expected opening date September 2015
Your invited to
For Enquiry contact Alex Cook 0467 600 610
Perth - Quest West Perth
54 Kings Park Road, WA
Quest Information Seminars
• Total of 55 apartments, 72 keys
Want to join Australia’s fastest growing serviced
apartment group?
Capital City Corporate
• 67 studios, 1 X 1 bedroom and 4 disabled studio apartments
• 750M from Princess Margaret Hospital for Children
Accommodation Businesses • Initial 14 year lease with further 2 X 7 year options.
• 10 level building with two passenger lifts
Want to be your own boss?
4.5 Star Serviced Apartment • Ground floor reception with office space and meeting room
• Conference facility with adjacent kitchen
Want to be an active serviced apartments operator?
Leaseholds • Guest laundry facility, gym
Or a passive investor in a great business?
Price: $1,440,000 (+ $170,000 EBI) + GST
Resort Brokers are excited to offer to the market five ‘Greenfield’ Expected opening date December 2015
properties, the latest franchise offerings from Quest
Serviced Apartments, Australia’s largest and fastest growing
For Enquiry contact Jim Chapman 0413 444 782 Whatever you are looking for, our Brisbane Seminar
serviced apartment operator. All five properties are fantastic new buyer seminars will point you in 24th June 2015 - 6.30pm
the right direction.
opportunities to not only acquire the leasehold interest to a Quest Breakfast Creek - 15 Amy Street, Albion,
brand new accommodation property in a prime city location, Perth - Quest Mounts Bay Road QLD 4010 (opposite the famous Breakfast
but also to become associated with the Quest Brand. 130B Mounts Bay Road, Perth WA In conjunction with the Holmans Accountants, Creek Hotel)
With more than 150 properties nationwide and growing at a
rate of roughly 10 new properties per year, Quest have focused • Total of 65 apartments, 71 keys Mike Phipps Finance and Resort Brokers
on providing quality accommodation in locations where it’s • 63 studios, 8 X 1 bedroom apartments (inc 4 disabled). Australia, these informative events will Sydney Seminar
corporate customer need to be. • 750M from Perth Convention and Exhibition Centre
• Initial 15 year lease with further 3 X 5 year options
demystify the serviced apartment model and 23rd July 2015 - 6.00pm
Quest will provide extensive training and support in all • 7 storey building with two passenger lifts help you become a part of the rapidly growing Quest at Sydney Olympic Park - 6 Edwin Flack
areas important to the successful operation of a short-term • Ground floor reception facilities including office space Quest Franchise family.
accommodation business. Franchisees have autonomy over the Avenue, Sydney Olympic Park, NSW 2127
• Guest laundry facility, staff kitchen, gym, lobby, terrace
day-to-day operation of their businesses and also benefit hugely
from the Quest National Account Team, whose responsibility is Price: $1,420,000 (+$170,000 EBI) + GST
to tender directly to the top 500 companies in Australia, with Expected opening date February 2016
the aim of securing and nurturing new business and long-term For Enquiry contact Jim Chapman 0413 444 782 In conjunction with:
relationships. Faster. Better. More.
14 resortbrokers.com.au For more information visit: http://www.questapartments.com.au/Franchising/franchising-information-seminars.aspx | 1300 665 966 resortbrokers.com.au 15
EDITORIAL more people will come here. Around 2020,
when all this new investment comes on line,
THE MANY FACES OF THE TOURISM INDUSTRY including our new runway, it will be a very
good news story for Queensland.”
Julieanne
Alroe
Alroe takes her role in the tourism
industry and broader business community
very seriously. She holds board positions
with Tourism and Events Queensland
(TEQ), Australia TradeCoast, Urban Futures
Brisbane, and Queensland Theatre Company,
to name only a few.
“TEQ is fundamental, a core relationship.
I don’t really see that as extra work, rather
an extension of what we are doing at BAC,”
she says. “Part of my job is to be out there
selling the airport to the business and
THE SKY’S NO LIMIT FOR political communities. These activities allow
me to have those relationships and keep
THIS QUIET ACHIEVER
engaged.”
The Queensland Theatre Company
involvement, she admits, is a personal
passion. And, if there’s time for relaxation,
JULIEANNE ALROE IS CEO AND MANAGING DIRECTOR OF BRISBANE AIRPORT CORPORATION (BAC). she finds joy in reading and listening to
SHE IS THE STEADY HAND AT THE CONTROLS OF NOT ONLY BRISBANE AIRPORT (BNE), BUT ALSO ITS classical and baroque music. Alroe also
BURGEONING BUSINESS COMMUNITY. ALREADY BIGGER THAN SOME TOWNS AND SUBURBS, BNE IS enjoys travel, which is just as well for
ON THE CUSP OF PERHAPS IT’S MOST EXCITING GROWTH PHASE YET. someone in her position. When Informer
met her, she had just returned from a trip
to Turkey, visiting Gallipoli for the Anzac
BY CATIE LANGDON Centenary in honour of her grandfather who
had served there.
The first thing you notice about Julieanne Alroe is her quiet, unassuming of women in the world to run a privatised brands in a new dual hotel development says. Referring to a recent Moreton Bay Julieanne Alroe’s record of achievement
manner. There is a calm confidence, no sign of the hubris you might airport. to add a five-star Pullman of 125 rooms, a dredging project to provide the millions of is impressive, to say the least. Asked about
expect of someone in such an influential senior position. Alroe oversees BAC’s four primary 3.5-star Ibis with 225 rooms, and a state- cubic metres of sand needed to build up her recent triumph in handling one of the
She presides over the largest airport in Australia in terms of land business units: aeronautical, retail, property of-the-art conference centre for up to the runway site, Alroe paid tribute to her greatest logistical and security challenges
size (2,700 ha), the nation’s second busiest capital city airport, and and car parking. While she was building 500 delegates. Work on the $148 million environmental, project and community for any airport – hosting the world’s most
its third largest by passenger numbers. In 2014, more than 22 million her career in aviation, aviation itself was project is about to start, for completion by relations teams. powerful leaders and their delegations in
passengers used BNE on more than 210,000 aircraft movements, evolving. Where airports were once focused September 2016. “If we had not been responsible, we Brisbane for the G20 – she was typically self-
earning aeronautical revenues exceeding $210 million and driving total entirely on air transport, they are now “These new hotels will be right across could have done harm,” she said. “Because effacing.
BAC Holdings Limited revenue in excess of $560 million. diverse and complex business hubs. the road from the domestic terminal,” Alroe we had very, very strong environmental “It went well. We were pleased. We
That also makes it one of Queensland’s biggest local enterprises, a BNE has two major terminals operating said. “We have also identified another site management around it, we actually finished actually enjoyed it in the end, but that only
fact she highlights not for reasons of self-importance, but because of 24-7, servicing 26 airlines flying to 67 at the international terminal, but we’ll wait well ahead of schedule and under budget. came because the team had done the hard
the airport’s vital role in contributing to the community and economy of destinations. But it is also home to 420 a couple of years before bringing it online.” Because we were very diligent, we didn’t years for almost 18 months beforehand.
both city and state. businesses employing around 21,000 people Airport expansion is a major focus for have delays. People let you get on.” We’ve shown Brisbane is co-operative, we’re
“Airports, to me, are so fundamental to Australia’s way of life in everything from freight, warehousing, this understated but clearly tenacious Once the runway is built, the same care friendly, and we’re smart. We get things
and economic prosperity,” she says. “The old ‘tyranny of distance’ transport and communications to research, businesswoman. The recent approval of will be taken to commission it. “To bring done. A reputation of competence is a very
is a genuine reality for us. Without aviation, we are a long way from property and infrastructure development, BAC’s Master Plan will see $3.8 billion that runway into service without alienating good thing to have.”
anywhere by boat and, even within our own country, by road or rail.” education and training, recreation, tourism, invested in airport infrastructure over the people who might be under a flight path for Pressed for her G20 highlights, Alroe
Perhaps that’s what drew Alroe, as a young University of Queensland leisure and retail. That’s a lot of industries next decade, allowing Brisbane Airport to the first time, even though we have a big says it was “special” to meet German
economics graduate, to a career in aviation. “I suppose, when you’re to be across. cater to an expected doubling of passenger buffer zone, will be another big challenge.” Chancellor Angela Merkel, someone she
20, aviation sounds glamorous,” she laughs, “although I was never “When I started out, things like numbers to around 48 million by 2034. But it’s a challenge Alroe looks forward greatly admires. But the most pleasure
interested in the actual flying part. I wanted to be in management. It’s restaurants and duty free were almost It covers the current $45 million to, because that new runway means a major came from watching her team handle the
that combination of interesting work and worthwhile work.” incidental,” Alroe says, recalling meals that international terminal redevelopment, boost to capacity. “Brisbane will be able near simultaneous arrival of the Germans,
She started in Canberra, with the Commonwealth Department of resembled those served in an army mess. expansion of the domestic terminal, a to attract more international flights. The Chinese and Russians. “It was just magic
Aviation. At the time, it ran all of Australia’s airports and owned both “Because I’ve been through the transitions, rolling program of apron expansion, and Sydney and Melbourne expansions are a bit watching the way they got those aircraft
Qantas and our then domestic carrier TAA. After four years, she moved I’ve grown with it. major technology and security upgrades. behind us, which will give us an opportunity in and out and towed away,” she beamed.
to Sydney Airport, and her career path was sealed. “Growth was quite organic initially but, But, by far the largest project, and most for a couple of years. We intend to go after “You could have set it to music, it was so
“From the day I started at Sydney Airport, I’ve just loved it,” she with privatisation, we were able to bring critical to BNE’s growth, is the new $1.35 that.” beautiful!”
says. “It is interesting and varied work. I can honestly say I’ve never more professional property developers, billion parallel runway due for completion Alroe is enthusiastic about the outlook But there’s little time to reflect on past
been bored … stressed, even a bit frightened at times … but never retailers and parking operators in and we in 2020. for Queensland. After a lull in tourism glories. “It doesn’t matter what you did
bored. Change is constant and it’s quite invigorating really to have that have really started to push the envelope in It is a massive undertaking and one being product development and refurbishment, yesterday, today you have to do it all over
level of dynamic movement about what you are doing.” terms of how we can extend those things.” done with great care... care to maintain she welcomes the revived tourism again,” she says, referring to the constant
At Sydney, Alroe progressed relishing the diversity and opportunity Accommodation is now one of the most environmental integrity, and care to inform investment – the planned Howard Smith need to focus on safety, security and the
as she moved from security to passenger services, business planning vital components of an airport precinct. and engage with the local community at Wharves and integrated resort and casino in passenger experience. Alroe’s clear focus is
and communications, aviation services, to asset management and Brisbane Airport’s first and only hotel, the every stage. The airport’s environmental Brisbane, refurbishment of Jupiters Casino on the future.
planning, rising to become general manager of infrastructure planning Novotel, opened not long after Alroe arrived. record and community relationships are on the Gold Coast, and arrival of high-end “I think the really big challenge is to get
and services. Beneath a roofline designed to echo the form very important to Alroe. resorts like One and Only Hayman Island more international passengers to Brisbane,
In July 2009, she moved back to Brisbane to take the helm at BAC. of an aeroplane wing, it offers 157 rooms, “We work very hard to be honest and and Qualia at Hamilton Island. to Queensland. Now we are getting the
She had grown up in Hendra, a northside suburb bordering the airport, conference rooms, roof terrace, restaurant, transparent about what we are doing, “Our big opportunity is on the capacity and the facilities, our big job for the
watching planes come and go from her front yard, probably never bar, pool, gym and sauna. and also to have strong credentials and international front. As Queensland next decade is to grow those international
imagining she might one day run it. Now she is one of only a handful Soon it will be joined by fellow Accor integrity about how we do things,” she improves its tourism product, more and passenger numbers.” END
16 resortbrokers.com.au resortbrokers.com.au 17
Short term off the plan management rights in
Exclusive MR Short Term off the plan management rights style +
in Victoria’s 2nd largest city
momentum
U N D E R
O N T R A C T
C
This soon to be refurbished heritage building, first constructed in 1926, has retained its original Georgian
Revival exterior whilst serving as an anticipated four-and-a-half-star complex of 37 boutique serviced
Architecturally designed Gold Coast holiday apartments and a manager’s residence.
complex Located in Geelong a city of some 250,000 residents, The Devlin Apartments are close to the CBD and the recently
redeveloped Simonds Stadium. With a capacity of 35,500 patrons the facility is the home base of the Geelong
This resort is an immaculately presented, architecturally designed • Architecturally designed complex directly overlooking the stunning Aussie rules football club.
holiday complex located directly on the stunning Broadwater in Broadwater
Biggera Waters, Gold Coast. The Broadwater is ideal for those looking • 40 units complex, 30 in on-site letting pool (20 holiday and 10 As the only 4·5 star facility in Geelong (anticipated), it’s proximity to business, leisure,retail facilities and its
to escape the hustle and bustle of more ‘touristy’ location such as permanent)
Surfers Paradise, while still being in easy reach of all the tourist • Complex just repainted – presents as near new
accessibility to key tourism regions, means that The Devlin is well placed to capture a share of the corporate,
attractions the Gold Coast has to offer. • Holiday units lovingly maintained – most upgraded and present to a leisure and tourist market. The Devlin will be converted into 28 (37 keys) boutique apartments encompassing three
very high standard distinct architectural and designed styles; New York loft, Contemporary and Industrial Chic. Each apartment style is
The property has proven to be a very popular complex in this area.
Occupancy currently runs at circa 65% and has been consistently
• Well presented two bedroom, two bathroom manager’s unit with represented by individually selected living and dining pieces, complemented by lavish soft furnishings and artwork,
high over the past decade. It recently won a Certificate of Excellence
large wrap around patio enhanced by distinctive
• Very supportive and pro-active body corporate committee
from Trip Advisor. Indeed, a quick look at this site will show many lighting solutions.
• East to manage caretaking workload
very positive comments from holiday makers.
The new owners will benefit from the fact that the complex has just Every detail has been taken care of from high quality appliances and bedding to multimedia solutions to private
undergone a complete repaint. It looked great before and now it Nett: $230,000 outdoor lounge areas. The manager’s apartment is situated at the rear of the reception/foyer. This one bedroom
looks brand new. An inspection of the property will impress internally residence has been designed in the ‘Contemporary’ style.
as well as externally. The rooms have been lovingly maintained to
a high standard and immaculately presented. All have Broadwater
Price: $1,545,000 It features a lounge, kitchen and powder room (as well as a second toilet).
views to varying degrees.
Significant stamp duty concession available.
resortbrokers.com.au/management-rights-for-sale/MR003732 • The only 4·5 star rated establishment (anticipated) in this
growing region of 300,000 people
• Caretaking agreement (ten years with 4 x 10 year options)
Alex Cook David Jiang Hui 江 晖 • All apartments in the letting pool
• Anticipated completion date Nov 2015
Broker Broker
resortbrokers.com.au/management-rights-for-sale /OTPoo3579
Mobile. +61 467 600 610 Mobile. +61 481 500 278
Jim Chapman - Broker
Email. alexcook@resortbrokers.com.au Email. davidjianghui@resortbrokers.com.au Mobile: +61 413 444 782 Nett: $350,886
Email: jimchapman@resortbrokers.com.au
Head Office. 07 3878 3999 Head Office. 07 3878 3999
Melbourne Office : 03 9347 3100 Price: $1,490,000
18 resortbrokers.com.au resortbrokers.com.au 19bookings through OTAs, while smaller
KEEPING WATCH ON MOTEL
operators often rely on them for more than
half.
Operating Costs
The recent takeover of Wotif by Expedia
(for $703 million!) highlighted the digital
reality for operators. Between them, the two
global powerhouses, Expedia (Hotels.com,
Trivago, Wotif ) and Priceline (Booking.com,
Agoda), now control about 85% of the online
DOING BUSINESS IN TODAY’S DIGITAL WORLD COMES AT A COST. THE DOMINATION booking market in Australia.
In the wake of the takeover, both Wotif
OF ONLINE BOOKING AGENCIES HAS ADDED NEW COSTS FOR MOTEL OPERATORS, and Agoda raised the commissions they
charge operators from 12% to 15%, squeezing
SO CARE MUST BE TAKEN TO ENSURE PROFITS ARE NOT ERODED. margins for small operators who are unable to
pass on the cost increase to consumers.
BY IAN CROOKS - RESORT BROKERS AUSTRALIA This added pressure comes at a time when
some of the traditional costs of operation have
The formulas for establishing and valuing motel leases have stood also been increasing. The price of insurance
the test of time. Since they were researched and formulated in the has risen significantly in recent years, along
1980s by pioneering Resort Brokers Australia managing director Ian with energy bills.
Crooks, the assumptions on which they were based have remained While electricity prices in some Australian
consistently valid. states seem to have stabilised, they are
Yes, operating costs have risen over time. But the cost items certainly still rising in Queensland and the
have remained fairly constant, and profit ratios have been able to be Northern Territory – locations where the air-
maintained. Now, however, not only have the goal posts shifted, we’ve conditioning expected by guests comes at an
entered a whole new playing field. astronomical cost.
The creeping reliance of accommodation operators on online travel There is no getting away from these new
agents (OTAs) is arguably the most significant change the industry has realities. Motel operators now need to keep
ever faced. abreast of systems, strategies and software
The cost of ensuring your motel is sold through multiple OTA that help cut reservation costs and boost
websites adds a new expense to the P&L. At the same time, the more online revenue.
traditional marketing strategies still need to be maintained. At the same time, motel landlords need
The challenge for motel operators is to protect their margins in to be aware of the impact of these increased
today’s highly competitive online market. operating costs when setting and reviewing
There’s no doubt it is imperative for accommodation providers to rents. If their lessees’ profit margins are
adopt an online booking system that manages inventory, sells their eroding, and rent increases are imposed,
rooms through the OTAs, and automates booking confirmation and property maintenance can be the first to
payment. suffer – to the detriment of the business and,
Reports suggest large hotel chains receive up to 20% of their consequently their investment. END
20 resortbrokers.com.auExclusive LH EDITORIAL
UNIT OWNERS AND GUESTS NOT
IN YOUR RENTAL POOL
BY COL MYERS - SMALL MYERS HUGHES
West Coast Tasmanian leasehold with a strong I frequently receive calls from clients wanting
to know what obligations they have as on-
with the on-site Manager (unless the Manager
has entered into a leaseback arrangement
trading history site letting agents to provide ‘ancillary’ letting
services to owners or their guests of units not
in the letting pool.
with the owner). Consequently, every owner
has a choice. If an owner chooses not to use
the on-site Manager for the letting of their unit,
The Silver Hills Motel is an iconic west coast motel in Queenstown At one point Henty was due to go into care and maintenance later The simple answer is that they have no the Manager has no obligation to provide any
Tasmania. It features 57 motel suites in three accommodation wings, a this year, but a return to drilling is a very positive sign that production obligations to provide any letting services at ‘ancillary letting services’ to these owners or
substantial restaurant and onsite parking for cars and coaches. Ideally at this mine will continue for years to come, and see it re-employ all to these people. their guests.
situated towards the west coast of Tasmania providing easy access to numerous of people that were recently made redundant. You must firstly understand your I often hear of situations where guests
world heritage listed wilderness areas and the west coast tourist town agreements with the Body Corporate. The turn up at the Manager’s office looking to
Strahan and Cradle Mountain. • Largest accommodation facility in Queenstown Caretaking Agreement is a contract between collect room keys for units which are not in the
• Possibility of expansion to mining in the near future the on-site Manager and the Body Corporate Manager’s rental pool. Put simply, it is not your
Queenstown is experiencing the beginnings of a resurgence of activity
•E xcellent tourist trade accessing the Queenstown/Strahan railway, for the caretaker to provide cleaning and job to provide keys and nor should you have
in 2 of the local mines. The historic Mount Lyell mine, after turning
the Gordon river and wilderness walks maintenance service to the common property. access to these units.
down 2 offers to sell, have announced that they will shortly commence
• Solid trading history This agreement rarely places any obligation on However, one area which does cross over
development through to their next high grade copper and gold ore
• Market rent the Manager to do anything within an owner’s to your caretaking duties is where guests in
deposit adding a conservative estimate of an additional 20 years to the
• Close to iconic tourist destinations of Strahan and Cradle Mountain lot. In fact, any obligation on the Manager to apartments (including apartments which
mine's life. The Indian parent company Vedanta have given approval
for new mining methods to be employed in the recovery of ore. The do so would most likely be invalid. are not rented by the Manager) have parties
The Letting Agreement is simply a contract or cause disturbance to occupiers. In most
return to production is expected to provide employment opportunities Nett: $140,636 between the Body Corporate and the Manager Caretaking Agreements, it is the duty of the
of 200 positions, which will be a massive boost for the local economy.
Further to this, the local Henty Gold Mine, owned by Unity Mining, has Price: $495,000 plus sav whereby the Manager is given the exclusivity
to provide letting services at the complex. Most
Manager to report on breaches of the strata
scheme by-laws and do whatever they can
announced recently the farm-in agreement that will see it join with agreements are worded on the basis that the ensure that the by-laws are not breached.
PYBAR mining and re-commence diamond drilling on the Henty fields. resortbrokers.com.au/motels-for-sale/LH003670
Manager ‘may’ provide these services. Every From time to time, Managers are required to
now and then you come across agreements ask guests to tone down the noise or to call
Jim Chapman that state the Manager ‘must’ provide the
services. If unit owners want to place their
Police to stop loud and unruly behaviour.
This obligation remains irrespective of
unit in the Manager’s rental pool, they sign whether the unit is in your rental pool or
Broker
an Appointment to Let (sometimes called a not.
Mobile. +61 413 444 782 ‘Management Agreement’) with the Manager. The best tip I can give you is to apply
This agreement sets out the services which your common sense as to when you draw
Email. jimchapman@resortbrokers.com.au will be provided and the commission/costs for the line on what (if any) ‘ancillary services’
provision of those services. you provide to a non-letting pool owner or
Melbourne Office. 03 9347 3100 No owner can be obliged to let their unit guest. END
22 resortbrokers.com.au resortbrokers.com.au 23Exclusive LH Exclusive MR
Bali Beckons - boutique villa resort Your little piece of Greece on the Sunshine Coast
- holiday management rights complex
On offer is a luxury seven villa resort with full infrastructure The land coverage is 2500m2 and has direct road access Myconos Holiday Apartments are located in Cotton Tree on The breakdown of the letting pool is 2 x two bedroom units and 6 x one
including managers apartment, restaurant and bar, massage area, The villas can be subdivided for individual ownership or held in Queensland's Sunshine Coast, a popular suburb with a beachside bedroom units. The one bedroom apartments do not have laundries
reception and back of house. one-line. walking track that spans to Mooloolaba. and as such there are guest laundries on levels three to five.
The Sunshine Coast Airport is 15 minutes north and the Brisbane The body corporate pays for security to lock the pool area at night and
Nestled in the beach side suburb of Sanur sits Aleesha Villas. The The owner will consider a trade of property in Australia or a part Airport is one hour south. The area is minutes for a wonderful variety complete two nightly rounds. There is lift access from the undercover
property was built by an Australian to the highest international trade of another asset or trade dollars. of bistros, cafes, restaurants, pubs and clubs. Nearby Maroochydore secure car park to all levels and the complex features a heated pool,
standards. It is in close proximity to the beach and all the is the main CBD and shopping centre of the Sunshine Coast. barbeque area and common lounge pool area.
restaurants and bars.
Price: $2,450,000 Maroochydore’s Sunshine Plaza is within easy walking distance and
has a Myer, cinemas and an enormous number of retailers with both
This offering would suit either a couple or a single operator as it has
minimal grounds and common areas.
There is an existing business in place that provides a solid holding quality and diversity. The Maroochydore Surf Beach is renowned for • After a run of nine years the current owners plan to retire.
income. surfing and surf lifesaving events. • Three bedroom residence
• No set office hours in agreements
The complex features a range of themed one and two bedroom
The land title is 41 year leasehold and has been paid up. It is well
suited for foreign ownership.
apartments; all air-conditioned, with luxurious king or queen size Nett: $109,000
beds, stylish fully equipped kitchens with quality appliances and
large balconies with north-east aspect. Price: $990,000
resortbrokers.com.au/management-rights-for-sale/MR003769
Ian Crooks Steve Dawson Glenn Millar Tyler Millar
Broker Prime Resort Services Broker Broker
Mobile. +61 411 171 648 Mobile. +62 813 376 89000 Mobile. +61 412 277 804 Mobile. +61 411 271 761
Email. iancrooks@resortbrokers.com.au Email. steve@prsbali.com Email. glennmillar@resortbrokers.com.au Email. tylermillar@resortbrokers.com.au
Head Office. 07 3878 3999 Head Office. 07 3878 3999 Head Office. 07 3878 3999
24 resortbrokers.com.au resortbrokers.com.au 25You can also read
