Marina Resort in picturesque Nelson Bay, has been listed for sale via an International Expressions of Interest campaign with brokerage firm HTL Property.

HTL Property Director Nic Simarro has been exclusively appointed to market the beachside Hotel, and believes the campaign will generate strong interest given it is one of the only freehold Hotels in the area.

The Marina Resort in Nelson Bay - Supplied: HTL Property

The campaign is being managed on behalf of the Chan Family – a private family who developed the resort 25 years ago.

Marina Resort is a 44-key Hotel elevated above Nelson Bay’s town centre, offering panoramic views of the water and surrounding area.  The Hotel includes an outdoor swimming pool, spa, restaurant and conference space.

Ideally located on Magnus Street, a short stroll from the local beaches, the property is currently operated by the Vendors, meaning Vacant Possession is available for the incoming owner.

“The asset gives an incoming owner the opportunity to own a freehold Hotel in a strong regional market on the door step of both Sydney and Newcastle’s airports, with the majority of resorts in the area Strata Titled and controlled by Management Rights” advised HTL Property Director Nic Simarro.

Mr Simarro noted that the Port Stephens area benefits from picturesque beaches, and multiple tourist attractions; and has come to be a regular holiday destination for many Sydney-siders.

“Given the year on year increase in visitor numbers, the future owner should capitalise on the property’s unique features, an immediate idea is to improve the almost nonexistent F&B trade, as well as utilizing the valuable conference space” Simarro concluded.

The property currently enjoys two approved DA’s, one for 92 ocean view apartments and the other for 40 additional guest suites; both of which can comfortably be developed on the large 6,600* sqm floor plate.

Mr Simarro said this was likely to be a key attraction for buyers, who could perceive the hotel as a medium-term hold with a strong holding income that could ultimately lend itself to a more substantial redevelopment – be that for a hotel, residential or a mixture of both.

The International Expressions of Interest campaign for the Marina Resort closes at 1pm on Tuesday 5 November, 2019.

Source: HTL Property

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