Beautiful Albany tourism development site sells for $1.05M

A SINGAPOREAN tourism developer has snapped up a vacant site in beautiful Albany as Lots 1&2 Frenchman Bay Road sold for $1,050,000 following a successful campaign.

The two combined lots were zoned for tourism use and offered a total 3.2594ha* site area, with Lot 1 occupying 1.8987ha*, and Lot 2 occupying 1.3607ha*.

The property was marketed and sold by Ray White Commercial (WA) Senior Property Advisor Brett Wilkins and Hotels, Tourism and Leisure Advisor Phil Zoiti.

“The site is currently vacant and has planning approval in place for the development of 24 accommodation units – together with a caretaker’s residence and café,” Mr Wilkins said.

“The land is unique in relation to its location and views and is close to a number of attractions including Whale World, the Salmon Holes, and the Torndirrup National Park.

“Frenchman Bay Beach provides protected safe swimming, together with lawn areas and barbecue facilities, and is a paradise for tourists.

“Frenchman Bay is 430km* south of Perth and 20km* south of the Albany CBD, accessible from the tourist drive along Frenchman Bay Road.”

“Investment sentiment is positive for regional tourism assets – whether it be bricks and mortar or development sites – which is indicative of the market in 2019 and before the COVID-19 pandemic,” Mr Zoiti said.

“Whilst there was a temporary setback with COVID-19 back in March 2020, we have seen a strengthening of the sector – especially in the accommodation and caravan park markets – in both visitor nights and spend.

“Overall, enquiry levels for regional hotel and tourism assets has increased tenfold in the past six months with investors looking to buy in key tourism areas such as Kununurra, Broome, Carnarvon, Shark Bay/Denham, Kalbarri, Dongara, Bunbury, Margaret River/Busselton, Albany, and Esperance.”

*Approximately.