NSW

Alistair Walsh | 11 October 2012

All Seasons Port Stephens Salamander Shores Hotel for sale joining Port Stephens listings

All Seasons Port Stephens Salamander Shores Hotel for sale joining Port Stephens listings

The All Seasons Salamander Shores hotel in Port Stephens (pictured below) has been listed for sale.

The listing comes with a waterfront hotel and 1.2 hectares with approval for redevelopment.

The 91-room hotel with views over Salamander Bay has conference facilities and restaurant, bar and gaming facilities.

The beachfront land bordering national parks has development application approval for a mixed site with 40 permanent residential units, 34 serviced apartments, 84 hotel rooms, 275 car parks and bar, restaurant, conferencing and retail spaces. The total approved area is 19,600 square metres.

The property is currently leased to Ibis Hotels.

Reviews of the hotel on Trip Advisor consistently say the hotel is slightly dated and in need of renovation.

RP Data shows the site last traded in 1992 for $3.1 million.

At 147 Soldiers Point Road, the hotel has previously been run as an All Seasons Hotel and a Comfort Inn.

The property is being sold by CBRE agent Andrew Jackson. The expressions of interest campaign ends November 20.

Jackson is also selling the nearby Peppers Anchorage (pictured below) with co-agent Rob Cross. The vendor is Bay Holdings Ltd, a joint venture company owned by Greg Shand and Allan Vidor.

Set on a 1.5-hectare site on the Tomaree Peninsula, the 1.5-hectare luxury hotel opened in 1992.

The sales campaign was due to finish on August 23, but it remains unsold.

It was built at a cost of $23 million.

In 2008, Jones Lang LaSalle expressions of interest campaign sought around $30 million for the hotel with marina.

Also nearby, The Spinning Wheel Hotel in Raymond Terrace, a hotel, bistro pub, bottle shop and TAB centre with a pokies room (pictured below) sold after auction for an undisclosed price.

The gambling operations earned the vendor $1,200,000 in gaming revenue.

The two-level hotel is on a 1,553-square-metre site.

There are 11 hotel rooms on the first floor as well as a two-bedroom manager's residence on the site.

The sale included the hotel licence and 18 poker machine entitlements.

It was being marketed by CBRE’s Joel Fisher and Daniel Dragicevich.

The site last traded for $490,000 in 2002.

 


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