Want to buy a resort? An opportunity just opened up in WA

Expecting interest from resort chains, owner-operators and syndicates, Western Australia's Coral Bay Ningaloo Reef Resort is on the market.

In a campaign to be conducted by CBRE and Colliers International, the 34-room, three-star resort comes with two separate manager's residences, a cafe, bar and alfresco dining area. It also includes a swimming pool inside landscaped tropical gardens.

It has been the project of owner-managers Aspen Parks and Resorts since 2007.

It sits on 1.8407 hectares, and there may just be the potential for future developments with the zoning.

Wayne Lawrence, Colliers International director investment services, said that it is a "once in a blue mood" opportunity in a tightly-held market.

“This is a resort sitting on the doorstep of a World Heritage Precinct, and a very major tourism draw – it enjoys very strong occupancy, particularly during the peak periods of April to July, and is a highly-profitable business with diverse revenue streams derived from food, beverage and accommodation,” he said.

While Ryan McGinnity, associate director CBRE, said that Coral Bay is the gateway to Ningaloo Reef, a place where diving with the whale sharks is an offered experience. The area is a World Heritage precinct.

“This is the only true resort property in Coral Bay, and a unique asset that we expect will be the subject of very strong enquiry from a range of buyers,” said McGinnity.