A private occupier acquires a fully operational motel with underlying land value for future upscale possibilities. 

Colliers’ agents James Zhuang and Lucas Soccio have secured the sale of Rye Beach Motel, brought to the market for the first time in 13 years.

The fully operational and well-located motel sits on a large corner allotment possessing a land area of 2,384 sqm providing a favourable General Residential Zone 1 (GRZ1), selling for $3,280,000.

Colliers offered the Rye Beach Motel for sale in November 2023, with price expectations in excess of $3 million, Rye Beach Model at 1929 Point Nepean Road, Tootgarook, via Expressions of Interest, campaign closing on Wednesday 22nd of November 2023 at 3pm (AEDT).

At the time, The Colliers marketing agents said, “The existing improvements consist of 14 well-appointed and self-contained guest rooms, reception, managers residence, laundry, garden sheds and a covered BBQ area, with plenty on-site and off-street parking for guests and staff.”

“Offered with vacant possession, Rye Beach Motel is expected to excite the broader market, including both owner occupiers, investors and developers, as the considerable land holding and favourable zoning will continue to protect the underlying land value for many years to come.”

This motel is prominently positioned in the heart of the well-known and extremely popular Mornington Peninsula. It provides its residents and visitors with a plethora of amenities, including immediate access to Port Phillip Bay and shopping villages such as Rye, Rosebud, Blairgowrie, Sorrento and Portsea.

“Rye Beach Motel is positioned along one of the most in-demand beachside locations, which continues to grow in popularity,” said Colliers Executive James Zhuang.

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