Insolvency and restructuring expert, Bill Karageozis of McLeod and Partners has appointed leading specialist brokerage firms Ray White Commercial Queensland and HTL Property to sell Coffs Motel and Villas, located at 209 Pacific Highway, Coffs Harbour.
Bill Karageozis of McLeod and Partners was appointed as the Liquidator to the asset in on 27 July 2022.
“Given the location and significant land parcel attached to the property, there is no surprise we have already received unsolicited interest in the property” advised Liquidator, Bill Karageozis.
The motel, built circa 1965, is situated upon a massive 8,535 sqm land parcel; and boasts a Development Approval for an 83 room full service model hotel.
Coffs Harbour is a large regional city located in the NSW North Coast Region, approximately 552km’s North of Sydney and 382km’s South of Brisbane. The governing local authority is Coffs Harbour City Council, and the local government area population is 78,759 according to the 2021 National Census.
Stretching from Red Rock in the North through to Bonville in the South, Coffs Harbour offers over 30 beaches across a 60km stretch of coastline; and which is considered a haven for surfers and tourists alike. In addition, Coffs Harbour is situated in close proximity to multiple National Parks, and offers a range of adventurous activities for all age groups. A sample of these activities include walks and hikes, mountain biking and cycling, horse riding, abseiling and canyoning.
“Coffs Harbour, its pristine stretch of coastline and range of idyllic exploration destinations surrounding it, is appropriately considered one of the best tourism destinations in Australia” commented HTL Property Director, Nic Simarro.
“The opportunity to continue either operating, renovating or detonating the motel, or developing the DA approved full-service hotel; provides multiple options for incoming investors in order to capitalise upon what is a rare opportunity to acquire a Coffs Harbour accommodation offering situated on over two acres of land” added Simarro.
“With close proximity to Yamba, Byron Bay and Port Macquarie, Coffs Harbour benefits from a significant catchment area outside of Brisbane and Sydney; being its main feeder cities for leisure guests and corporate travelers” added Managing Director and Partner of Ray White Commercial Queensland, Michael McCullagh.
“Furthermore, the city’s mild climate, banana plantations, resorts and fishing options are key demand drivers; topped off with the nationally iconic Big Banana” concluded McCullagh.
Coffs Motel and Villas is for sale via an Expression of Interest campaign concluding Wednesday 16 November 2022.
For further information please contact:
Michael McCullagh
Managing Director & Partner
Ray White Commercial QLD
0403 426 474
mmccullagh@raywhite.com
Nic Simarro
Director
HTL Property
0403 005 776
nic.simarro@raywhite.com
James Carrick
Director
HTL Property
0498 954 047
james.carrick@htlproperty.com
*Property outline indicative only
In the dynamic and ever-evolving world of real estate investment, one key decision can make all the difference in the success of an investor’s portfolio: the choice of their management team.
A retail development site in the heart of Perth’s CBD has sold for $48 million. The 1,705sqm site at 96 and 110 William Street, and 255 Murray Street Mall was marketed by RWC WA agent Brett Wilkins.