14 Nov 2019
Words Lisa Allen The Australian
Regional Investment Fund Picks Up Port Douglas Property
In north Queensland, the management rights to the luxury Port Douglas Peninsula Boutique Hotel have been picked up by a regional investment fund for about $6m.
Mandala Asset Solutions, through the Trinity Accommodation Regional Hospitality Fund, has acquired a 23-year letting and caretaking agreement over the north Queensland property, in a deal negotiated by ResortBrokers.
An adults-only retreat on Four Mile Beach, the Port Douglas Peninsula Boutique Hotel produces a net annual income of more than $1m through its 33 luxury suites and restaurant.
ResortBrokers NQ executive Chenoa Daniel said the listing drew a high level of interest.
“It presented as the perfect opportunity for a savvy investor — a business which was professionally run by the outgoing managers, generating great returns in one of the most enviable places in Australia.”