Ellis Beach bungalows for sale: Cairns holiday icon hits property market
A slice of tropical paradise has just hit the market with opportunity to pounce on major development potential – and it includes its own popular beachside bar.
Property
Don't miss out on the headlines from Property. Followed categories will be added to My News.
A SLICE of tropical paradise has just hit the market with the opportunity to pounce on major development potential – and it includes its own popular beachside bar.
The iconic Ellis Beach Oceanfront Bungalows Holiday Park and the accompanying Ellis Beach Bar and Grill have been listed for sale with expressions of interest invited until September 9.
The property is already a popular holiday destination overlooking the Coral Sea 28km north of the Cairns CBD, with bungalows, apartments, caravan and campsites all on offer to visitors.
However, there is the possibility for much more if a buyer makes a play with the right financial backing.
MORE NEWS
Our bulk-billing nightmare just up the hill
‘It’s black and white’: Councillor furious over alleged developer links
Want to buy a brothel in Cairns? Get in quick
The site includes a 9.7ha property held under perpetual lease with current approvals for a 221-key resort development including hotel, motel and apartment accommodation.
CBRE spokesmen Danny Betros and Scott Callow, who are running the national marketing campaign, said they expected strong buyer interest.
Mr Betros noted the demand from domestic travellers looking to explore more of Australia while international borders were closed.
“The volume of domestic travellers that we have seen coming to the Cairns region has meant that businesses like this have traded at strong levels,” he said.
“This multifaceted business has experienced strong trading conditions and operates under management.
“It presents a prime opportunity to make the most of a recently granted 20-year state government lease over the land, which secures the operation into the future.”
Mr Callow, senior director for CBRE Hotels, said the market was running hot.
“Investor demand for beachfront property in the leisure market of caravan and camping sector has never been stronger,” he said.
“This is indeed a rare opportunity to be able to acquire such a well located business operation, which is expected to benefit with significant ongoing domestic demand.
“DA approvals for projects of this scale take considerable investment and provide real value for an incoming purchaser.”
Originally published as Ellis Beach bungalows for sale: Cairns holiday icon hits property market
Auction blog: Home sells for seven times what owner paid
The hot pre-Easter weekend auction action kicked off with a cottage selling for seven times what its owner paid, one of more than dozens of homes set to change hands today as strong demand continues across South East Queensland.
Warnie’s home trend that’s taking over Australia
Shane Warne was ahead of his time on the cricket field and he was ahead of the curve when it came to relaxing away from the game too.