Runaway Bay Motor Inn: Huge change coming for Gold Coast’s biggest motel

One of the Gold Coast’s oldest motels, the largest of its kind, is set to undergo a dramatic change which would mean something quite different, if realised.

One of the northern Gold Coast’s oldest motels is on the market, with the potential for a buyer to take the property in a wildly different direction.

The Runaway Bay Motor Inn is on the market after the Tasmanian family which has owned it for more than 30 years decided to sell.

The two-storey, 41-unit motel sites on a 5591 sqm site on Runaway Bay’s Oxley Drive, is the largest of its kind in the city. An expressions of interest campaign will be handled by CBRE’s Hayley Manvell, Taylor Morris and Mark Witheriff which will run until October 31.

Ms Manvell said she expected several bidders for the complex, citing other recent sales, including that of the Bayswater Tweed Motel earlier this year.

That sales campaign saw 175 inquiries, 27 inspections and 16 offers from potential buyers.

The Runaway Bay Motor Inn is for sale for the first time in more than 30 years. Picture: Supplied by CBRE

“We expect significant interest in the Runaway Bay Motor Inn from seasoned owner-operators, expanding motel groups, and buyers considering alternative uses such as health, retirement and housing, given the scarcity of freehold accommodation assets on the Gold Coast,” she said.

“Most motels on the Gold Coast have fewer than 20 rooms, are leased out, or are not held in one line.

“This offering represents the region’s only freehold going concern motel with over 40 rooms.”

Ms Morris pointed to the dramatic population increase, which exceeded 19,170 in the 12 months to July 1, 2023.

“Given this continued population growth and increasing investment in the city, Runaway Bay Motor Inn is strategically positioned to benefit from rising accommodation demand.”

“From a tourism perspective, the Gold Coast market continues to benefit from growth in international visitors, while domestic tourism is expected to maintain stable Average Daily Rates (ADR), attracting both local and international holiday-makers.

“Additionally, the motel is conveniently located within a 30-minute drive of all major venues for the 2032 Gold Coast Olympic & Paralympic Games.”

Features of the motel include a manger’s unit, reception and office space, a restaurant, bar and function centre, a laundry and a 55-space carpark.

Originally published as Runaway Bay Motor Inn: Huge change coming for Gold Coast’s biggest motel