Broome Time Resort on the market following influx of visitors over the last 12 months
Following what has been a bumper 12 months for the region, JLL Hotels & Hospitality Group is pleased to exclusively offer for sale Broome Time Resort in Broome, Western Australia.
Situated on a 5,971 square metre site on Cable Beach Road East, the property comprises 58 guest rooms wrapped around a centrally located pool, lush green gardens, a breakfast/meeting room and spacious outdoor dining areas with BBQ's as well as an onsite art gallery specialising in local Kimberley Art, Aboriginal Artifacts, Didgeridoo's and gifts.
Broome Time Resort is strategically positioned on the Broome Peninsula between Cable Beach, Roebuck Bay and Old Broome. The Resort is also directly opposite the Broome Recreational Aquatic Centre, which attracts multiple sporting events and travelling sporting groups from around the regions all year round.
Built in 1984, Broome Time Resort has been meticulously maintained over time, with 37 rooms having been refurbished as recent as April this year, a breakfast/meeting room added in 2018 and new guest laundry equipment in March. The ability to add room count also exists with the previous modelling indicating an additional 15-20 rooms could be constructed on the site.
Chloe Mason of JLL Hotels & Hospitality Group, who has been appointed to sell the property, said, "The offering of this Resort is well-timed, with domestic tourism in Western Australia
experiencing extraordinary growth and Broome being one of the primary beneficiaries. This influx
is expected to continue over the coming years as Australian's modify the way they holiday, and
internationals make their way back to outback WA to experience the wide-open spaces".
"Broome Time Resort is being offered with vacant possession, presenting investors and owner-operators with branding and management flexibility, and given the rooms have recently undergone a refurbishment program, the incoming owner will not have to inject a significant of amount of CapEx in order to gain an uplift in ADR and NOP as the current owner has taken care of that," noted Ms Mason.
Broome Time Resort is being offered for sale via Expressions of Interest. Further information about the EOI process can be obtained from the JLL team.
JLL, 28th September 2021
