Aspen to sell Ningaloo Reef Resort

Resort chains, owner-operators and syndicates are expected to be in the running to purchase Coral Bay's Ningaloo Reef Resort, put on the market by owner Aspen Parks and Resorts.

Aspen chief executive Clem Salwin said the decision to sell the ocean-front resort was in line with company efforts to focus on traditional holiday parks.

In the past nine months as part of its portfolio adjustment, Aspen has sold individual properties in Kununurra, New South Wales and Victoria and purchased the Dubbo Caravan Park.

The sales campaign for the Ningaloo Reef Resort will be conducted jointly by Colliers International and CBRE.

Located on Robinson Street in Coral Bay, the 34-room, three-star resort includes two separate manager's residences, a cafe, bar and alfresco dining area and swimming pool set in landscaped tropical gardens.

Colliers International director investment services Wayne Lawrence said the resort was a major tourist attraction.

"This is a resort sitting on the doorstep of a World Heritage Precinct and a very major tourism draw - it enjoys very strong occupancy, particularly during the peak periods of April to July, and is a highly profitable business with diverse revenue from food, beverage and accommodation," he said.

CBRE associate director Ryan McGinnity said the impact and value of the resort's location should not be underestimated.

"Coral Bay is essentially the gateway to the Ningaloo Reef, with its pristine marine environment," he said.

"This is the only true resort property in Coral Bay, and a unique asset that we expect will be the subject of very strong enquiry from a range of buyers," Mr McGinnity added.

The resort sits on a total land area of 1.8407ha.