Broome beach bungalow sale a concept to consider
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Tuesday, 21 May, 2002 - 22:00
A PLAN to sell off the bungalows that form part of the Cable Beach Club Resort will provide sun lovers from all over Australia with the opportunity to escape the winter blues.
Hyde Park Management – a subsidiary of the Hawaiian Management Group – bought the resort, perched on the edge of the Kimberley, just more than two years ago.
Hawaiian Management Group asset manager Don Black said although the plan was still at a conceptual stage the project could move very quickly if it received approval from the board this week.
However, Hyde Park Management isn’t the only group offering investors the opportunity to purchase a holiday property in Broome.
The Rendezvous Sanctuary Resort is scheduled to open early next year with studio rooms, one and two-bedroom apartments available for sale.
A total of 82 bungalows would be available at the Cable Beach Club Resort under the deal for a price of about $300,000.
The proposed structure, based on similar resorts in Queensland, would place responsibility for the bungalows’ management (when not in use) with the resort.
“It’s something that we have looked at a number of times,” Mr Black said.
“It was being considered before Ansett collapsed but then it was put on the back shelf because we thought the market wouldn’t recover in time to market it this year.”
He said Hawaiian Management Group worked very closely with Qantas following the contraction of the airline market.
Qantas has increased its capacity into Broome by about 205 per cent and the Cable Beach Club Resort is experiencing bumper bookings for the season.
“It’s looking at its best season in about seven years,” Mr Black said.
“The Qantas increase in capacity is the biggest increase across all Australian ports.
“And it has made significant improvements in the east-west connections from out of Alice Springs.”
Uncertainty in the airline market has bolstered the level of drive tourism into Broome and this is contributing to the strong bookings.
“The strata title would be based on a management rights scheme. It has been done quite a lot in Queensland and we did a road show last year to look at resorts that have been around for eight to 10 years,” Mr Black said.
Research into demand for property in Broome revealed investors from both Perth and the east coast were interested in owning a beach house in Broome.
“We’re doing market research now and it’s actually very strong response because we’ve talked about doing this so often,” Mr Black said.
“There’s a lot of interest in Sydney and Melbourne and direct flights from Sydney and Melbourne are on the cards in the next 18 months.
The strong property market in holiday destinations such as Noosa in Queensland has pushed holiday house prices up to around $500,000, Mr Black said.
“Flying time to Broome (from Perth) is the same as the flying time to Noosa out of Melbourne,” he said.
The Hawaiian Management Group doesn’t expect to have any problems selling the strata units, however the new Rendezvous Sanctuary Resort in Broome might provide some competition.
Hyde Park Management – a subsidiary of the Hawaiian Management Group – bought the resort, perched on the edge of the Kimberley, just more than two years ago.
Hawaiian Management Group asset manager Don Black said although the plan was still at a conceptual stage the project could move very quickly if it received approval from the board this week.
However, Hyde Park Management isn’t the only group offering investors the opportunity to purchase a holiday property in Broome.
The Rendezvous Sanctuary Resort is scheduled to open early next year with studio rooms, one and two-bedroom apartments available for sale.
A total of 82 bungalows would be available at the Cable Beach Club Resort under the deal for a price of about $300,000.
The proposed structure, based on similar resorts in Queensland, would place responsibility for the bungalows’ management (when not in use) with the resort.
“It’s something that we have looked at a number of times,” Mr Black said.
“It was being considered before Ansett collapsed but then it was put on the back shelf because we thought the market wouldn’t recover in time to market it this year.”
He said Hawaiian Management Group worked very closely with Qantas following the contraction of the airline market.
Qantas has increased its capacity into Broome by about 205 per cent and the Cable Beach Club Resort is experiencing bumper bookings for the season.
“It’s looking at its best season in about seven years,” Mr Black said.
“The Qantas increase in capacity is the biggest increase across all Australian ports.
“And it has made significant improvements in the east-west connections from out of Alice Springs.”
Uncertainty in the airline market has bolstered the level of drive tourism into Broome and this is contributing to the strong bookings.
“The strata title would be based on a management rights scheme. It has been done quite a lot in Queensland and we did a road show last year to look at resorts that have been around for eight to 10 years,” Mr Black said.
Research into demand for property in Broome revealed investors from both Perth and the east coast were interested in owning a beach house in Broome.
“We’re doing market research now and it’s actually very strong response because we’ve talked about doing this so often,” Mr Black said.
“There’s a lot of interest in Sydney and Melbourne and direct flights from Sydney and Melbourne are on the cards in the next 18 months.
The strong property market in holiday destinations such as Noosa in Queensland has pushed holiday house prices up to around $500,000, Mr Black said.
“Flying time to Broome (from Perth) is the same as the flying time to Noosa out of Melbourne,” he said.
The Hawaiian Management Group doesn’t expect to have any problems selling the strata units, however the new Rendezvous Sanctuary Resort in Broome might provide some competition.