ResortBrokers’ Western Australian agent Blair Macdonald has sold the management rights of Karratha Central Apartments, achieving a record price for this asset type in the state.

The management rights were sold to experienced accommodation business owner Geoff Hussin. Until recently, Mr Hussin was resort manager at the four-star, 133-apartment Ivory Palms Resort, Noosaville’s largest resort — a position he had held for almost 12 years. ResortBrokers settled the sale of Ivory Palms Resort in August 2024.

“Geoff will bring his extensive experience of managing a high-quality large-scale accommodation business to Karratha Central Apartments,” says Mr Macdonald. “For my client, I’m delighted to have found such an experienced operator to buy this terrific business.”

Underpinned by 40-year caretaking and letting agreements, with 35 years remaining, the 84-key serviced apartment complex is in the town centre of Karratha, the Pilbara’s informal capital.

Karratha Central Apartments enjoys predominantly business trade and is the accommodation of choice for many corporates.

Half of the property’s 84 lots are studio rooms with the other half one-bedroom apartments. All 84 keys have been in the letting pool for many years.

“A 100% letting pool is virtually unheard of, providing an exceptional base for the business,” says Mr Macdonald.

Karratha has long been powered by the Pilbara’s resources industry, which looks set for another golden period of development with billions of dollars of investment flowing into the region from major corporates including Mitsui, Perdaman and BCI Minerals.

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