Iconic Sunshine Coast motel to go under the hammer
A CLASSIC beachside motel that dates back to the late 1960s-early 1970s is being offered for sale by auction.
Villa Coolum, that features 10 two-bedroom units plus a three-bedroom manager's house, is on 2492sq m one block from the beach at First Bay.
The triangular-shaped property at the end of a no-through street is zoned Medium Density.
There is undercover car-parking for each of the units. The complex also features a 15m pool, barbecue area, tropical lawns and gardens, plus coin laundry.
PRDnationwide's Andy Lake said the site offered great proximity to the beach, as well as the Coolum Beach Esplanade.
He said the motel has been updated over the years and it would be up to the buyer as to the future use.
"It is not being sold as a going concern. The buyer may want to continue it as a motel or go in a different direction.
"There are prior bookings so the buyer has the chance to take the benefit of immediate cash flow. Apparently it is booked out for Christmas.''
Mr Lake expects interest for the site to come from South east Queensland developers or an investor wanting to land bank, using the holding income and redeveloping down the track.
"It offers the best of both worlds at the moment ... semi permanent as well as holiday guests.
"The present operator loves living on site and considers it the 'best job.'
"From the manager's residence you can look out the window and see what the surf is doing.
"It's a matter of the people you meet. So many guests are repeat visitors. They become regulars.
"Many have stayed here throughout time. They have told their kids about it and new generations fall in love with it.
"People love the community feel, the atmosphere of a beach holiday.''
102-104 Coolum Tce
What: Villa Coolum Motel: 10 two-bedroom units on 2492sq m including three-bedroom house
Features: Beachside location, zoned Medium Density. Two-street frontage, 15m pool, tropical lawns and gardens, coin laundry
Price: Auction on site Saturday, October 14, at 11am
Agent: Andy Lake at PRDnationwide Coolum Beach
Contact: 0414 462 828
Inspection: Saturday 11-11.45am September 16