Gold Coast-based holiday & management rights group BreakFree Ltd, headed by former Sydney Swans Aussie Rules player Tony Smith, has bought the management letting rights for the Erskine on the Beach resort at Lorne in Victoria for $A5.5 million.
The resort has 4.2ha of beachfront land, 120 keys in 60 dual-key 4Â½-star apartments & 83 3-star guest rooms. The resort has facilities for conferences up to 400 people.
BreakFree plans extensive refurbishment, expansion of the conference facilities, more leisure facilities and is discussing completion of the development with various parties. The resort has development approval for 64 more dual-key apartments.
Jones Lang LaSalle Hotels vice-president Mark Curran, who handled the deal for BCR Asset Management, said the sale generated interest from more than 100 resort, hotel & timeshare operators & investors.