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Sold on 18 Nov 2016

58 Shirley Street Byron Bay NSW 2481

  • Hotel / Leisure
  • 1 m²
  • Sold, $2,550,000

Aloha Villas Byron Bay

The Offer

On offer for sale is a modern, architecturally designed tourist complex that comprises a 4-bedroom house and three studio villas on a prized 1012 m² rectangular site with street frontage to Shirley Street as well as easy side and back lane access. The sale is inclusive of the well-established accommodation business known as ‘Aloha Villas Byron Bay’ on a ‘going concern’ basis along with the furnishings, plant and equipment, a website and the trading name.

The Property

The property is located 300 meters from Belongil Beach in the tourist hub of Byron Bay, one of Australia’s iconic seaside towns in the Northern Rivers region of NSW.

The two-level house has a gated entrance from Shirley Street that leads to a low maintenance, and private walled garden with an inviting salt water pool. The ground level consists of an open plan dining and lounge with a French door that opens up to the outdoor deck, a contemporary kitchen with plenty of cupboard space, a stone benchtop and stainless steel appliances, a good-size laundry with a toilet, and a large bedroom with an ensuite bathroom. The office is also conveniently on the ground level next to the back entrance looking over the guest areas.

The second level houses three generously sized bedrooms, one of which is complemented with an ensuite bathroom and a walk-in robe. There is also a linen cupboard, a covered balcony, and a spacious bathroom with a double sink and a side-by-side bathtub and shower.

The rear section of the property has a side entrance and is private behind a walled parameter. It is densely improved with three studio villas, a communal heated pool, and spa, as well as a pool house that has a very handy fully-equipped kitchen and dining area for guests. There is also the extra convenience of a guest laundry, secure storage for complimentary surfboards and an independent bathroom with a shower. The back lane access leads to guest parking for four cars and a double lock up garage.

The studio-style, open plan villas are well-appointed with ensuite bathrooms and kitchenettes. They feature a private deck, timber flooring, air conditioning, ceiling fans, and a king size bed. The villas are designed to accommodate couples only while the house can sleep up to 8 guests.

The Business

The adult-only boutique accommodation business, known as Aloha Villas, is now well established and is achieving very high occupancy due to its modern and attractive offering, at a convenient and attractive location. In FY 2016, turnover reached $314k on occupancy of 93% and an average rate per night of $252. The business is profitable having achieved a net profit of $160k after management expenses of approx. $47k (a delightful local manager that resides off-site is currently running the business with casual help for cleaning and management relief).

The Location

The chic beachside town of Byron Bay is a long established and internationally renowned tourist destination located approx. 40 kilometers east of the regional city of Lismore, 25 kilometers north of Ballina and approx. 80km south of the NSW/QLD border.

Tourism is the principal driver of the economy. In 2013, Byron Bay received approx. 526,000 domestic overnight visitors and 160,000 international overnight visitors, with the majority from the UK and Germany. Visitors are attracted to the town’s gorgeous beaches and lush green hinterland, as well as, its vibrant community and its numerous restaurants, cafes and festivals. It is a haven for sea-changers, especially those with artistic and New Age inclinations, and offers a relaxed lifestyle. The Shirley Street locality is a popular location with tourists being a short distance from the center of town and the local beaches.

Agent’s Opinion:

The location is one of the main features of this property. It is located at close proximity from the beach and at a walking distance from the restaurants and cafes of the center of town. The buildings were completed in late 2012 to a high standard of finish and presentation, providing great accommodation. The business is easy to run and offers a good income for an investor, or off-site owner/manager. It is also a fantastic sea change with an income for a lucky owner occupier.

Property Highlights

Property ID2013130167
Date Sold18 Nov 2016
Sold Price$2,550,000
Floor Area1 m²
Land Area1,012 m²
ParkingAsk Agent
Category
Last updated  22 Nov 2016
Map for 58 Shirley Street Byron Bay NSW 2481
Accomodation Properties
Level 4, Suite 8, 402-410 Chapel Road Bankstown NSW 2200

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