07 Feb 2022
Words Staff Writers Australian Property Journal

APJ’s property sales and leasing transactions wrap

The Blue Water Motel in the Northern Rivers region of NSW has been sold as a freehold going concern for the first time in 28 years.

The 17-room property is on 1,700 sqm of land and was sold through ResortBrokers’ Greg James to Ryan Bowman, who has just reopened the motel after a full renovation.

“We saved the motel from being demolished. A developer actually bid more than us but we said to the vendors ‘if you want to save the motel, it’s an asset to the community’ and they went for it,” Bowman said.

“Motels have a lot to offer if they upscale a bit…We’ve used recycled pieces and worked with local artists to ensure it’s not a cookie cutter. Motels add a lot to the local community, not just holiday makers.”

ResortBrokers has sold 13 properties in the area in past 12 months. The Colonial Tweed Caravan Park and the Yamba Sun Motel are among those that have changed hands.