16/10/2007 - 22:00

SW sale season

16/10/2007 - 22:00

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Three prime Margaret River resort properties currently on the market have attracted the attention of prospective local and some international buyers.

SW sale season

Three prime Margaret River resort properties currently on the market have attracted the attention of prospective local and some international buyers.

Just two years after buying Margaret River’s historic Basildene Manor on Wallcliffe Road for $4.5 million, Accor Premiere Vacation Club has put the property back on the market this month through an ‘offers invited’ campaign.

Built in 1912, the five-star boutique hotel is on 5.88 hectares and features 16 suites, manicured gardens, a pool, and tennis court.

AVPC has recently drawn up plans to expand the accommodation offering with new 16 units.

Selling agent and CB Richard Ellis senior director, David Kennedy, said Basildene Manor was being sold without independent tax numbers, as members of the AVPC did not pay nightly tariffs.

“From one advertisement, we’ve had 12 inquiries and these are mainly local and some eastern states parties,” he said.

Mr Kennedy said Basildene was being sold with vacant possession, however APVC would consider a short-term leaseback.

“I think APVC really needs more than 100 rooms to make it [the club] work. That’s why Busselton Bungalows works so well for them,” he told WA Business News.

Another property attracting interest is the four-star Riverglen Chalets resort on nearby Carters Road.

The 2ha property has 14 secluded chalets and the potential to cater for weddings and corporate functions with the expansion of accommodation to 30 chalets.

Margaret River Real Estate principal Barry Granville said its owners would prefer to sell the resort in its entirety, but would consider an expansion of the property in joint venture with a developer.

The property could also be sold off in parcels, including an adjacent tourism-zoned 6,240 square metre lot fronting Carters Road. 

“It’s rare to see well located tourism sites coming on to the market, particularly 2.6ha within town boundaries,” Mr Granville said.

“We’re receiving a lot of local interest from three groups and some international interest.

“The adjoining site used to be a vet clinic, but now it’s a blank canvas and could be used to give the property more presence to the road.”

Mr Granville said he was currently fielding offers for Riverglen of between $6 million and $8 million.

Long-time Margaret River identities Richard and Lorraine Firth are also testing the market, asking $7.5 million for their Merribrook Retreat on Armstrong Road.

The family has spent 22 years developing the 35ha property into a sanctuary and accommodation business with nine villas, a lodge, manager’s residence, 20-metre solar-heated pool, and mature gardens.

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