Saltwater Takes Berkeley River Lodge Leasehold

Accommodation and tourism service provider, Saltwater Properties, has purchased the leasehold over Berkeley River Lodge in the Kimberley region on the north coast of Western Australia, in a deal brokered by Savills Senior Hotels Executive, Nic Simarro.

The price was not disclosed however sources have suggested less than $10 million.

Mr Simarro said the long term leasehold - 20 years with a 20 year option - over the award winning 5 star resort, was put on the market by vendor, Berkeley River Holdings.

Just four years old, the property comprises 20 spacious villa units with Timor Sea, Berkeley River and Kimberley views, restaurant, bar, conference and pool facilities, staff accommodation, workshops and a dedicated airstrip, all situated on a vast 4,704 hectare site.

Mr Simarro said the property had attracted 36 enquiries from a mix of local and offshore investors, but was exceptionally well suited to Saltwater which owns and/or manages up to 30 hotel/resort/apartment properties across Australia including Broome properties, Kimberley Sands Resort & Spa and the Pearl of Cable Beach.

“This is a timely and astute purchase from one of Australia’s best credentialed operators and one with a great deal of experience in these climes.”

He said the high level of enquiry for the leasehold was driven by Berkeley’s remarkable and unusual tourist elements as a one-of-a-kind resort accessible only by air or sea and offering clients the sort of unique experience which has won Berkeley several awards.

“This is really an extraordinary property, from the flight in over some of Australia’s most iconic outback landscapes to the beautiful expanse of the Timor Sea, the Berkeley River, panoramic views, and the high level of individual accommodation and service which includes a 5 star restaurant,” Mr Simarro said.

He said the fact the Berkeley was offered at well below replacement cost and that the resort offered exceptional growth potential, given occupancy had grown exponentially since its 2012 opening, were also important factors.

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