Sebel Pelican Waters Resort, a 4.5 star rated resort on a 1.438 hectare site adjacent to the Greg Norman designed Pelican Waters Golf Course, was sold to Mr Leary in a deal handled by ResortBrokers Sunshine Coast Specialists Glenn Millar and Chenoa Daniel for an undisclosed amount.

“Over the last 10 years I’ve had 3 attempts at buying Pelican Waters and this time I finally got it right,” said Mr Leary. Located seven kilometres south of the Caloundra CBD, the property comprises an integrated hotel and residential strata titled development over 12 levels and the business is operated under a Sebel Franchise Agreement.

The complex also houses the 220 seat The Grill Restaurant, a conference centre, commercial gymnasium and day spa and Mr Millar said the sale attracted several high quality submissions from experienced operators.

“This is an outstanding asset with multiple income streams and the potential to tap into local networks and really take it to the next level,” Mr Millar said.

“In the end, Russell Leary secured the management rights while Adelaide hospitality operators Ash and Liza Perks will take over the restaurant, conference centre, gym and spa in what will be a high quality partnership,” he said.

The resort was completed in 2005 as a 102 room (48 dual key and 6 single key lots) hotel and conference facility with an additional 62 residential apartments and penthouses on the upper levels (levels 5 to 12).

The hotel portion of the complex covers the first four floors and is classified as “Tourism Accommodation Zoning” which only allows short stay usage.

Management rights typically include the ability for an on-site manager to earn fees from letting out apartments in a strata titled building as well as earning a salary for managing day-to-day duties such as cleaning.

“The key factor for me not buying Sebel Pelican Waters in the past was that the restaurant, bar, conference centre and day spa was a specialised field which was not my expertise at all,” Mr Leary said.

“I’m a specialist management rights operator which is why we have brought in Ash and Liza Perks to handle that side of the business.”

Mr Leary said he planned on forming new relationships on the Sunshine Coast with golf and horse racing clubs along with other local operators and was optimistic about the future of the local economy.

“With the borders now opening up, we’re seeing that people are ready to travel again and I foresee that over the next two years, the Sunshine Coast will be the place to be.”

ResortBrokers Sunshine Coast specialist Glenn Millar says the Sebel Pelican Waters Resort is an “outstanding asset” which would suit an entrepreneurial or highly experienced operator who is hands-on to realise the full potential of this offering.

“This is an already great business with outstanding potential, especially for an experienced operator with a good distribution network,” Mr Millar said.

“I think it is pretty obvious that whoever takes this management rights business on  has the potential to add considerable further value in a relatively short time frame,” he said.

The gymnasium is currently operated by the resort with more than 250 members. Mr Millar says it is equivalent in size and facility to most commercial gyms and could be leased to large operators such as Jetts or Fitness First.

The well-equipped day spa could also be leased to an experienced operator along with the food and beverage operation, which includes the 220 seat The Grill Restaurant.

The management rights package for Sebel Pelican Waters Resort will have 16 years remaining on the letting and caretaking agreement upon settlement of a sale.

Russell Leary said, “Over the last 10 years I’ve had 3 attempts at buying Pelican Waters and this time finally got it right. I’ve teamed up Travis Switer who was a former employee of The Saltwater Group and he will be the on-site manager plus comes with a huge amount of experience in all fields.”

“The key factor for me not buying it in the past was the restaurant/bar,conference,  day spa being a specialised field which was not my area  This time we have brought in experienced hotel , conference operators from Adelaide Ashley and Brad Perks and they will buy that side on its own.”

So for me being a management rights operator it works when that is my only job. I’ve employed a very experienced and professional front office manager Tanya Braun who will control the management rights side. 

Having owner operators at the coal face is so important for this business of which it has never had .Reaching out and forming a relationship with the golf and horse racing clubs plus other local operators will be very important for the ongoing business. 

With the borders now open and people ready to travel again I see the next 2 years on the Sunshine Coast being very busy and bringing a lot of people to the area.

Related reading 

Record Management Rights transactions Sunshine Coast 

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