Revamped Aquarius Resort for sale or lease

SHORT-TERM accommodation property Aquarius Resort in Southport has hit the market again as the owner looks to exit the industry.

Sebastian Investments Pty Ltd, linked to Jo-Anne Wilkie, is offering the lease or sale of Aquarius Resort at 44 Queen St for the first time since a failed campaign to find a buyer in 2016 and 2017.

Grant Bailey, of Colliers International Gold Coast, is heading up the latest effort with an expressions-of-interest campaign closing on May 10.

Ms Wilkie has owned the property, which is situated on a 939sq m block, since 2003 after paying $1.3 million for it.

The resort contains

74 beds across its three levels as well as a barbecue area, pool, licenced bar and beer garden area, commercial kitchen and laundry.

Mr Bailey said a new lease was being offered for anyone who wished to take over the business without buying the property.

He said he expected hospitality and managementrights operators to run the rule over the asset, which has recently undergone a full renovation of its interior, with new floors and paint.

“This campaign aims to capitalise on the strength of the short-term accommodation market on the Gold Coast as there is a shortage of good-quality assets currently available,” he said.

The resort is located close to a light rail station, adjacent to Angler’s Arms Tavern and Dan Murphy’s and a short walk from the CBD.

An income figure for the resort was not disclosed.