Boutique Batemans Bay Motel The Isla and the adjacent Kon Tiki Apartments have been listed for sale by a Canberra-based investment group amid ongoing growth in the regional NSW tourism sector.
CBRE’s Hayley Manvell and Tristan Cotchett have been exclusively appointed to steer the Expressions of Interest campaign for the coastal assets.
The Isla is the passion project of a group of Canberra professionals who recently redeveloped the motel into a retro-inspired getaway to appeal to a new generation of travellers.
The joint venture includes lawyers, property developers, builders, marketers, and real estate professionals, each with their own personal connection to Batemans Bay.
Yanna Dascarolis, one of The Isla co-founders, said, “The Isla was created to provide a design-led and exciting new environment from which to rediscover the Batemans Bay area.”
The motel comprises 18 guest rooms and suites of various configurations. It was reimagined using a modern retro theme by Those Architects, with a view to being “stylishly sentimental”, paying homage to old-school beach holidaying.
The property offers a swimming pool, BBQ facilities, outdoor and indoor lounge areas, onsite car parking with electric vehicle charging stations and a mini bar area for guests to enjoy vending machines stocked with bespoke and locally sourced artisanal products.
The neighbouring Kon Tiki Apartments offers seven two-bedroom apartments in various room configurations.
Together the two properties occupy an amalgamated 3,238sqm freehold land parcel.
Mr Cotchett noted that the sale provided a substantial future development opportunity with holding income in a growing regional domestic tourism economy.
“The amalgamation of the two land parcels offers significant additional value, offering an incoming purchaser a multitude of options to reach maximum site potential via redevelopment or enhancements to the existing facilities,” Mr Cotchett said.
“Stewart Architecture has created a proposed residential development scheme which comprises 58 two- and three-bedroom residential apartments across four storeys designed to ensure most units benefit from
ocean views. In addition, the scheme features basement parking with 120 car parking spaces, subject to the relevant planning approvals.”
Ms Manvell added, “Beachside hotels with vacant possession have always been a highly coveted investment. There has been significant interest and growth in domestic tourism in regional locations within NSW and across Australia.
“We expect substantial local and offshore buyer interest from owner-operators, high-net-worth individuals, hotel investment funds, syndicates and developers.”
As at year ended June 2023, the NSW South Coast Region recorded a total domestic visitation of 12.6 million, a 57.6% growth, with a total of 15.3 million nights spent and total domestic expenditure of $4.1 billion, a 47.6% growth.
As of March 2023, the South Coast Region was listed second across visitation, nights stayed and expenditure for domestic overnight travel within Regional NSW and first for visitation amongst domestic daytrip travellers.
The Isla and Kon Tiki Apartments are being sold in-one-line with Vacant Possession via an Expression of Interest campaign with the EOI campaign closing 27th March 2024.
The assets are situated on Beach Road, approximately four hours’ drive south of Sydney and two hour’s drive east of Canberra.
