Lorne`s Erskine on the Beach, arguably the Great Ocean Road`s premier resort, is being offered for sale. Jones Lang LaSalle Hotels` Mark Durran will exclusively market the property on behalf of BCR Asset Management.
Set amid 12 acres of manicured gardens, the resort enjoys an absolute beachfront location in Lorne, one of Victoria`s most exclusive holiday destinations. Situated along the blue waters of Loutit Bay with the breathtaking backdrop of the Otway Ranges, Lorne is 140 kilometres south of Melbourne or a two-hour drive along the world famous Great Ocean Road. The Great Ocean Road is 100 kilometres of breathtaking scenery, soaring cliffs, nature walks, waterfalls and sandy white beaches, attracting almost 2.8 million visitors each year.
Erskine on the Beach comprises an 81 room guesthouse (Erskine House), resort management rights over Erskine Apartments encompassing 60 dual keyed luxury apartments (120 rooms) as well as an outstanding development opportunity for a further 64 dual keyed approved apartments (128 rooms).
“Erskine on the Beach represents an exceptional investment and development opportunity given that 85% of the apartments in the new development have already been sold off the plan”, said Mr Mark Durran, Senior Vice President, Jones Lang LaSalle Hotels.
“With approval already granted for development of the additional luxury apartments and upgrading of the existing guesthouse and expansion of the conference facilities, an incoming owner or operator has the opportunity to substantially improve trading performance of the business”, said Mr Durran. “When completed, the resort`s management rights will comprise 248 keys plus Erskine House”, added Mr Durran.
“It is anticipated that the sale of Erskine on the Beach will generate strong interest from resort, hotel and timeshare operators and investors, as well as developers vying to capitalise on the success of the property`s apartment sales”, said Mr Durran.
Reportedly the most successful development in Lorne`s sales history, Erskine Apartments has epitomised the region`s booming real estate market, which has gone from strength to strength.
Erskine on the Beach is being offered for sale via an expressions of interest campaign closing 14 November 2003.