One of Australia's first purpose-built backpacker accommodation venues is for sale, with Byron Bay Holiday Village presented to the market through JLL.

Situated at 116-118 Jonson Street, the property is among the last significant multi-storey developable sites in the heart of Byron Bay to be made available for purchase.

The 4,282 square metre Local Centre-zoned property will be marketed via an Expressions of Interest campaign conducted through John Musca of JLL Hotels & Hospitality in conjunction with Elliott O’Shea of JLL Metropolitan Investments.

Owned by the same family for over 37 years, the business currently operates as the Byron Bay Holiday Village Backpackers and has a capacity of up to 200 guests.

At a glance:

• The Byron Bay Holiday Village Backpackers is available for sale via an Expressions of Interest campaign conducted through John Musca of JLL Hotels & Hospitality in conjunction with Elliott O’Shea of JLL Metropolitan Investments.
• Situated at 116-118 Jonson Street, the 4,282 square metre Local Centre-zoned property owned by the same family for over 37 years.
• Mr Musca recently negotiated the sale of Byron's Beach Hotel for $104 million.

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Source: JLL Hotels and Hospitality Group

Mr Musca said Byron Bay's status as one of Australia’s most expensive residential cities (median house price), coupled with a recognised lack of large, mixed-use town-centre developable opportunities and subdued project pipeline, meant the shire generated continued interest.

“Byron Bay offers a world-class lifestyle that attracts over 2.2million visitors annually," he said.

"Its tourism base is driven by domestic travellers, drawn to its relaxed and eclectic mix of beaches, culture, music and produce and already quantifiably benefiting from Australia’s renewed domestic travel and remote working focus.

“Local agents are witnessing the strongest market they have ever experienced”.

Having negotiated the sale of Beach Hotel in Byron for $104 million, Mr Musca noted that the measured approach to new development had assisted in maintaining the areas unique coastal culture, whilst also amplifying the interest in those last remaining sites offering favourable zoning.

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Source: JLL Hotels and Hospitality Group

"Byron’s commercial focus is continuing to extend along Jonson Street where the recently completed Mercato complex will eventually be flanked by a proposed 4-star hotel on the former Woolworths site and a new hospitality and retail complex planned for 90 - 96 Jonson Street," he said.

"That 5390 square metre property was sold for $29.8m in January this year, representing $5,528 per square metre."

Mr O’Shea said interested groups would appreciate this short-term income strategy, however, the highest and best use for the site is likely to be development.

“The subject site shares the same zoning as the adjoining and recently completed Mercato on Byron development," said.

"Now home to Woolworths, Palace Cinemas and a range of other boutique retailers, this adjoining development is a great example of the potential outcomes that could be delivered”.

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