30 Oct 2023
Words John Miller The Hotel Conversation

KTQ Group lists Bayshore Bungalows with ResortBrokers for $10.5 million

KTQ Group, the development arm of Bryon Bay identities Brian and Peggy Flannery, has listed the freehold of Bayshore Bungalows with ResortBrokers’ local agent Miguel Bozina for $10.5 million.

KTQ launched the resort as a boutique alternative to their neighbouring property, the 193-villa Elements of Byron beachfront resort, also located on Bayshore Drive.

Bayshore Bungalows, a redevelopment of existing dwellings built in 1970, opened in 2012, while the $100 million Elements opened in 2016 after six years of development.

The 14-bungalow retreat enjoys SP3 Tourist zoning and occupies an expansive 11,000 sqm block only 550 metres from Belongil Beach.

“It’s rare to find an entire hectare up for grabs in Byron,” says Bozina. “Giving the considerable size of the landholding, there’s enormous scope to enhance the existing premises.”

“We’re talking about a large parcel of real estate with beneficial zoning in one of Australia’s most prized beachside locations.”

Since 2021, KTQ has used Bayshore Bungalows as staff accommodation for Elements, and prior to this the property operated as a boutique resort. Amenities include a lagoon swimming pool, BBQ area and tennis court.

Bozina says the site is being offered with vacant possession and could easily be reactivated as guest accommodation.

“The site has been impeccably maintained, so getting it ready for guests again is not an issue,” says Bozina.

Bozina says Byron Shire Council-imposed short-term rental accommodation (STRA) caps will benefit approved tourist accommodation such Bayshore Bungalows. The existing 180-day cap will tighten to 60 days from September 2024.

“STRA caps constrain Airbnb offerings and help drive occupancy into approved short-term accommodation properties with the right zoning,” says Bozina.

View listing here.

Miguel Bozina
Broker, Northern NSW
miguel@resortbrokers.com.au
0419 848 444