A resort complex on North Stradbroke Island has become one of Queensland’s first short-term accommodation properties to change hands since the outbreak of COVID-19 amid high demand for regional assets.

Located at Point Lookout, Allure Stradbroke Resort is a mix of one-bedroom through to four-bedroom units, with resort-style facilities including a solar heated outdoor swimming pool, gymnasium, children’s playground and café.

Selling agent and ResortBrokers Management Rights Specialist, Todd Warner, said there had been strong demand for management rights complexes with permanent residents.

At a glance: 

• A resort complex on North Stradbroke Island has been sold through Todd Warner of ResortBrokers.
• Located at Point Lookout, Allure Stradbroke Resort is a mix of one-bedroom through to four-bedroom units, with resort-style facilities including a solar heated outdoor swimming pool, gymnasium, children’s playground and café.
• The property was bought by a Queensland family who have owned a holiday home on the island for two generations and wanted to invest in a local island based resort business which they could run as a family.

"This deal is really important as Allure is one of the first major ones for a short term resort since the lockdowns and restrictions were introduced in March," he said.

“Straddie is absolutely pumping right now and, like Noosa and Byron Bay, is running at almost 100 percent occupancy on weekends and during school holidays.

“With international and state border closures, Straddie has benefited from the fact that Australians have no choice but to holiday at home and it is in one of the few bubbles of positive tourism growth this year, driven by its popularity with local tourists."

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Source: ResortBrokers.

Mr Warner said buyers of Allure were a Queensland family who have owned a holiday home on the island for two generations and wanted to invest in a local island based resort business which they could run as a family.

“They realised that holidaying at home for Australians is going to be the way forward in 2021 and beyond, and they saw the value in Allure’s solid letting pool which generates a sustainable net income," he said.

“The COVID-19 lockdowns have also driven a real shift in people wanting to relocate to regional areas from the major cities.”

ResortBrokers is reporting that operators are now targeting Australia’s regional tourism “hot spots”, like North Stradbroke Island, with enquiry levels reaching pre-COVID levels and above.

Mr Warner said a major factor was the confidence that had returned to the lending market despite the COVID crisis.

"Operators are now making enquiries on short term properties,” he said.

“The actual purchase process was difficult in the COVID-19 landscape but we engaged industry experts to help and we were able to navigate through an uncertain time in the market and achieve a positive outcome for all parties.”

Click here to view the listing.

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