The Sands management rights for sale for $2.95m
A GROWING appetite for management rights among major hotel operators is expected to fuel interest in the listing of The Sands Resort at Yamba.
Management rights to the luxury 4.5-star beachfront apartment resort have been offered for sale along with a substantial parcel of associated real estate, for an asking price of $2.95 million.
Listed with Resort Brokers Australia, the package includes letting rights to 40 deluxe apartments and four houses, plus title to a detached manager's residence, two tennis courts, large resort pool, barbecue areas, shop, office and reception areas.
The Sands Resort vendors, Stephen and Janette Wright, are Yamba locals who bought the management rights business and associated property three years ago, after spending six years in the Middle East where Stephen had an academic post teaching business.
The couple also holds interests in management rights operations at Noosa on Queensland's Sunshine Coast.
Resort Brokers Australia agent Ian Dore said the extent of property included on the manager's title, the quality of the resort, and its prime beachfront Yamba location had already attracted the attention of major accommodation groups on the expansion path.
"We've seen management rights emerge as an asset class now keenly sought by large hotel groups when the quality of facilities and location fit their business model," Mr Dore said.
"You only have to look at the fierce competition between domestic and international players when Resort Brokers recently handled the bidding process for Soul Surfers Paradise, with Mantra ultimately paying a record price to secure the rights."
The management rights term of agreement is 10 years from January 2015.