One of the Sunshine Coast’s most popular resort complexes is set to change hands with the management rights and associated real estate to The Mirage Alexandra Headland up for sale with an asking price of just under $4.3 million.

The Mirage is a four star resort with 59 two and three bedroom units and is a mixed use holiday/residential complex which was first opened in 2000.

The sale is being handled by Glenn Millar and Chenoa Daniel of ResortBrokers who described the property as an “outstanding product”, backed by a solid net profit and body corporate salary.

“It’s in a prime location and just off a main road which means there is no traffic noise and it has some of the best facilities. Quite simply, it’s a stunning property and we know there’ll be strong interest in this one,” said Mr Millar.

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Set 50 metres from the main road, The Mirage features ocean views and resort-style facilities including a beautifully landscaped heated lagoon, lap and spa pools, heated children’s pool with waterfall, fully equipped gym with sauna, tennis courts and a half-sized basketball court. Each apartment has been well-appointed with each balcony facing east and offering views of the pool and gardens, the lagoon and/or ocean.

There are 25 years left on the management rights agreement and the sale includes a large three bedroom apartment.

Mr Millar says demand for accommodation assets on the Sunshine Coast is well above pre-COVID levels, thanks to a combination of the increased popularity of the region as a drive destination and economic growth which is being driven by major infrastructure projects.

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“In my 30 years of living here, and 16 with ResortBrokers, I’ve never seen anything like the growth we are experiencing right now,” Mr Millar said.

“In the last few months, Sunshine Coast accommodation operators tell us this is the busiest they've been since the onset of the pandemic, with some months exceeding those of 2019 with occupancy rates on weekends and school holidays approaching 100 percent.

“We’re being told the phones have been ringing non-stop and some operators have had to turn guests away. This is especially the case on weekends when the ‘no vacancy’ signs get put up. Mid-week bookings are a bit lighter due to the lack of long stay guests and overseas visitors but around 60 percent of the business is driving up from Brisbane, with people travelling from as far as three hours away.”

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The demand for Sunshine Coast accommodation assets was confirmed with the sale of Atrium at Buderim which was sold for what’s believed to be a record multiplier of 6.1. The sale of the 305-unit complex changed hands for just under $5 million in February. 

Chenoa Daniel handled that off-market deal and she said that against the backdrop of border closures, lockdowns and restrictions caused by the pandemic, there’s been a remarkable shift of people who want to move to, or return to, the Sunshine Coast. This also means accommodation operators are targeting the region.

“Sales activity of short stay management rights has drastically improved since November 2020 with our team settling five deals in a five week period with a number of others under contract. Buyers are now returning,” Ms Daniel said.

“Permanent complexes are in demand especially those with net incomes in excess of $300,000. In November, we settled a large permanent complex with a net income over $600,000 in an off market deal.

“The demand for these permanent accommodation complexes is, in part, being driven by extremely low vacancy rates. For December 2020, the vacancy rate was 0.3 percent as it seems like everybody wants to move here, especially Sydney and Melbourne people.”

For more information contact agents Glenn Millar and Chenoa Daniel of ResortBrokers via the contact from below.

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