Our tourism resurgence helps drive huge resort sale price
Port Douglas
A beachfront Port Douglas hotel lease has sold for a record post-Covid-19 price of $5.8m, according to the agent.
The Peninsula Boutique Hotel, which overlooks Four Mile Beach between Macrossan Street and the Surfy, went on the market in August, and the deal was finalised this month.
Agent Leah Bursztynowicz said last week she was proud to announce the hotel had been “sold and settled for a record-breaking $5.8m”.
“(This is) the largest management rights transaction in Port Douglas in more than five years,” Ms Bursztynowicz said.
“This 34-suite, 4.5-star resort, complete with an oceanview manager’s residence and 55-seat restaurant, was placed under contract in under one month and sold to a syndicate I personally introduced.”
Situated at the Flagstaff Hill end of The Esplanade on Four Mile Beach, the hotel rights were put up for sale by multi-million-dollar resort company Mandala Hotel and Resorts for $5.75m.
“Results like this don’t happen by chance,” Ms Bursztynowicz said.
“They’re built on strategy, relationships, and precision matchmaking between the right buyer and the right asset.”
A 30-second walk to Macrossan Street, the adult-only hotel includes the Hi-Tide restaurant, an outdoor pool and jacuzzi and private balconies.
The vendor, Mandala, has a national portfolio of more than 30 Australian locations worth more than $250m.
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