One of Norfolk Island’s most iconic resorts, Castaway, is being offered to market for $3,350,000 through ResortBrokers.

For the last decade, the boutique resort has been owned and operated by the vendor, whose family established the business in the 1970s.

Located in Burnt Pine, Norfolk’s largest town, Castaway consists of 20 modern, stylish rooms and apartments set among landscaped tropical gardens, home to one of the island’s largest banyan trees.

The freehold going concern is underpinned by strong leisure, corporate and government trade, and offers significant revenue streams independent of occupancy.

Castaway Restaurant & Bar, which can accommodate up to 160 people, is a popular meeting place for locals and resort guests.

The venue includes the award-winning Norfolk Island Brewing, the island’s only licensed brewery, which is excise exempt for beer production.

A wholesale permit for goods and a sub-agency for car hire round out the business’ income streams.

“Castaway would suit a buyer who recognises Norfolk’s unique appeal as an island paradise with a colourful history,” says ResortBrokers agent David Faiers who is selling the property in conjunction with Managing Director Trudy Crooks.

“The Bounty mutineers made it their home. Visitors who come here want to make it theirs. They never want to leave.”

“Castaway is a Norfolk institution. Everyone on the island knows the special place it holds there. Norfolk accommodation properties are tightly held, so a resort of this calibre coming to market is extremely rare.”

“Visitation is booming, helped by direct flights from Sydney, Brisbane and Auckland. The destination marketing for Norfolk through the “360° of Wonder” campaign has been hugely successful.”

“Castaway has been a significant beneficiary of that. The property has so much to offer guests — spacious accommodations in true island style, a popular restaurant and bar and the island’s only brewery.

“The brewery widens this asset’s buyer appeal. Craft brewers who want to expand their operations should give Norfolk Island Brewing a look. It holds a monopoly position as the island’s only local beer and is a two-time IBA award winner. It’s also exempt from excise duty — an added bonus.”

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