Family holiday apartments in Turtle Beach Resort, Mermaid Beach, create a splash with investors
Turtle Beach Resort in Mermaid Beach has family suites for sale. It’s the first time they have hit the market.
PREMIUM suites in the iconic Turtle Beach Resort have hit the market for the first time, causing a splash among investors keen to dip their toes into the lucrative holiday rental income on offer at the family friendly destination.
One of four large swimming pools at the family-friendly Turtle Beach Resort.
Offers of more than $375,000 are sought for the sale of each of 14 of the family suites at 2360 Gold Coast Highway, Mermaid Beach, within the four-star resort easily recognised by its high, winding waterslides visible from the road.
MORE NEWS Two $4m deals sealed in exclusive 15 Jefferson Lane, Palm Beach
Why the Tweed is no longer sleepy hollow
Marketing agent Marco Scholten of Master Agents said the family suites were renovated to a high standard and were introduced in 2015 as the resort’s premium accommodation offering.
There are 16 family suites in the resort, with 14 up for sale.
There are 16 family suites onsite in total. The 14 two-bedroom strata-titled units have been owned since 2015 by a local institutional investor whose business had suffered a COVID-induced downturn, which has led to the sale.
Mr Scholten said the units were positively geared and offered investors a gross annual revenue averaging $74,000 each, based on four years of operational performance.
Owner perks included personal use of the resort facilities for four weeks each year.
Turtle Beach Resort includes a restaurant and numerous barbecue areas.
“This is a really good opportunity to invest in a resort with an exceptional reputation for families,” he said.
“Occupancy year-round is 75 per cent or more, and it has remained that way even through COVID. At the moment everything is booked out.”
Each fully furnished suite sleeps up to six people and comprises a bathroom plus ensuite and balcony with resort views.
More from news
Owners will get to use their investment for four weeks of the year.
Mr Scholten said he had been inundated with interest in the first 36 hours since the listing went live, with many inquiries from local investors familiar with the resort and its top-notch standing among the family tourism sector.
“These suites have been operational for the past four years within the multi-awardwinning Turtle Beach Resort and show an income of $74,000, which is over $20,000 gross more than the resort’s standard two-bedroom apartments,” Mr Scholten said.
The resort is popular with families for its waterpark.
“It is a solid investment, operated by an onsite management team, and there are a variety of floorplans from which to choose, for units located on the ground, first or upper floors.”
Turtle Beach Resort is comprised of 297 strata-owned units set across a five acre block with lush gardens and guest facilities including the recently refurbished Splash Zone Waterpark, The Deck Restaurant, kids’ club and four large swimming pools, including an adults’ only retreat area.
There is also a tennis court, 15-hole putt putt golf course and outdoor cinema.