19 Jan 2021
Words Sunshine Coast Daily & The Hotel Conversation
Popular Sunshine Coast resort changes hands through ResortBrokers
It’s taken him three separate attempts over the past decade, but Noosa local Russell Leary has secured the management rights and associated real estate to one of the most popular mixed use resorts on Queensland’s Sunshine Coast.
Sebel Pelican Waters Resort, a 4.5 star rated resort on a 1.438 hectare site adjacent to the Greg Norman designed Pelican Waters Golf Course, was sold to Mr Leary in a deal handled by ResortBrokers Sunshine Coast Specialists Glenn Millar and Chenoa Daniel for an undisclosed amount.
“Over the last 10 years I’ve had three attempts at buying Pelican Waters and this time I finally got it right,” said Mr Leary.
Located seven kilometres south of the Caloundra CBD, the property comprises an integrated hotel and residential strata titled development over 12 levels and the business is operated under a Sebel Franchise Agreement.
The complex also houses a 220 seat restaurant, a conference centre, commercial gymnasium and day spa and Mr Millar said the sale attracted several high quality submissions from experienced operators.
“This is an outstanding asset with multiple income streams and the potential to tap into local networks and really take it to the next level,” Mr Millar said.
“In the end, Russell Leary secured the management rights while Adelaide hospitality operators Ash and Liza Perks will take over the restaurant, conference centre, gym and spa in what will be a high quality partnership,” he said.
The resort was completed in 2005 as a 102 room (48 dual key and 6 single key lots) hotel and conference facility with an additional 62 residential apartments and penthouses on the upper levels (levels 5 to 12).
The hotel portion of the complex covers the first four floors and is classified as “Tourism Accommodation Zoning” which only allows short stay usage.
Management rights typically include the ability for an on-site manager to earn fees from letting out apartments in a strata titled building as well as earning a salary for managing day-to-day duties such as cleaning.
“The key factor for me not buying Sebel Pelican Waters in the past was that the restaurant, bar, conference centre and day spa was a specialised field which was not my expertise at all,” Mr Leary said.
“I’m a specialist management rights operator which is why we have brought in Ash and Liza Perks to handle that side of the business.”
Mr Leary said he planned on forming new relationships on the Sunshine Coast with golf and horse racing clubs along with other local operators and was optimistic about the future of the local economy.
“With the borders now opening up, we’re seeing that people are ready to travel again and I foresee that over the next two years, the Sunshine Coast will be the place to be.”