South Stradbroke Island resort apartments on the market

Eight contracts were issued in the past four weeks at Ramada Couran Cove Island Resort on South Stradbroke Island.

Located off the Gold Coast, Stradbroke Island is a sand island split in two by the Jumpinin Channel.

According to Ramada Couran Cove Island Resort chief executive John Muntz, the resort’s owners, Couran Cove Holdings Pty Ltd, had spent millions of dollars on upgrades and improvements. In January, the company took the resort’s apartments off the market to complete refurbishments and re-adjust pricing.

“The response we have had since we released the apartments again has been very encouraging,” said Muntz.

Muntz said that the unseasonably warm autumn and winter months have resulted in high occupancy levels, with 100% capacity at the resort over Easter and the Queen’s Birthday long weekend.

A new departure terminal at Hope Harbour has allowed guests to take a 40 minute ferry trip from the mainland to the island.

“The new terminal has been a hit with a lot of people telling us that they feel their holiday starts the minute they step aboard the ferry as the ride over is spectacular,” said Muntz.

“Our future is very exciting and our current purchasers are recognising this opportunity presents itself only so often,” he said. According to Muntz, the resort’s marina was also popular with local boaties, who return on a regular basis to use the resort’s facilities.

“They like the fact that they can moor up, access power and water and then use the facilities like the swimming pool, the restaurant and Spa Island, and, if they choose, to the walk over to the beach,” he said.

“We have our regulars and have even started to serve some of them onboard their vessels when they order from the restaurant.”

The eight contracts secured in the last month involve local, Brisbane and interstate purchasers.

Refurbished studio apartments are marketed from $220,000, with a lease back of 7% net return over two years, with potential to extend the lease back period. The Ramada Couran Cove Island Resort properties have waterfront or rainforest views. 

“The one bedroom apartments start at $250,000 and we will be releasing the two and four bedroom apartments in the near future," said Muntz.