Byron Bay Holiday Village set for sale
The Byron Bay Holiday Village located at 116-118 Jonson Street, one of the last multi-storey developable sites in the heart of Byron Bay, is to be offered for sale.
The 4,282 sqm Local Centre zoned property will be marketed by John Musca of JLL Hotels & Hospitality in conjunction with Elliott O’Shea of JLL Metropolitan Investments, via a formal expressions of interest campaign.
Owned by the same family for over 37 years the business currently operates as the Byron Bay Holiday Village Backpackers with a capacity of up to 200 guests and was the first purpose-built backpackers in Australia when built in 1983.
Having sold the Beach Hotel in Byron for $104 million Mr Musca noted that the measured approach to new development has assisted in maintaining the areas unique coastal culture, whilst also amplifying the interest in those last remaining sites offering favourable zoning.
Byron’s commercial focus is continuing to extend along Jonson Street where the recently completed Mercato complex will eventually be flanked by a proposed 4-star hotel on the former Woolworths site and a new hospitality and retail complex planned for 90 - 96 Jonson Street. That 5390 sqm property was sold for $29.8 million in January this year, representing $5,528 per sqm.
Mr O’Shea expects that interested groups will appreciate this short-term income strategy however the highest and best use for the site is likely to be development.
