Kingfisher Bay Resort Group portfolio sold for $43 million
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Kingfisher Bay Resort Group portfolio sold for $43 million
The portfolio including Kingfisher Bay Resort, Eurong Beach Resort, Fraser Explorer Tours and Fraser Island Ferries, all based on the World-Heritage listed Fraser Island, have collectively sold for $43 million to SeaLink Travel Group.
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Image supplied by Colliers InternationalKingfisher Bay Resort Group sold for $43 million
The sale comprises of four profitable and well-established tourism and transport operations including; Kingfisher Bay Resort, Eurong Beach Resort, Fraser Explorer Tours and Fraser Island Ferries in a deal brokered by Neil Scanlan of Colliers International, on behalf of Japanese property company Cosmos Initia.
As a further boost for Queensland tourism, following completion of the transaction, SeaLink will open a new business hub in Brisbane to manage and grow its successful Queensland operations, with the strong backing of the Queensland Government.
“Kingfisher Bay Resort Group accounts for 90 per cent of accommodation options and the majority of touring experiences on Fraser Island.
“As one of Australia’s most unique resort experiences, the opportunity of vacant possession, plus a large amount of surplus freehold development land offers an incoming purchaser significant upside.”
Located 15km off the coast of Queensland, Fraser Island is one of the most iconic destinations in Australia and is famous throughout the world for its World Heritage listed wonders.
“The Fraser Coast is a region rich in diversity and a key contributor to Queensland’s tourism industry and is the major focus for this region, and at the forefront of all the Fraser Coast’s tourism marketing campaigns,” said Mr Scanlan.
“There can never be a substantial accommodation competitor to the Kingfisher Resort Group, on Fraser Island.”
SeaLink Travel Group is one of Australia’s most dynamic tourism and transport companies bringing the nation’s best tourism experiences to the world. SeaLink’s operations extend across New South Wales, Queensland, Northern Territory, Western Australia and South Australia, and are listed on the Australian Securities Exchange (ASX:SLK).
To discuss the sale in further detail contact Neil Scanlan of Colliers International via the below contact details.
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