MULTI-MILLION DOLLAR DEAL FOR PEPPERS AT WILLOW VALE
Written on the 9 April 2014
PEPPERS Ruffles Lodge and Spa at Willow Vale has been sold for $4.5 million in an off market deal.
A private investor from China purchased the Gold Coast hinterland property, including freehold title, the business and all facilities.Colliers International on the Gold Coast director in charge Stewart Gilchrist says the profile and quality of the business will remain the same.
“The new owner saw the Peppers Ruffles Lodge and Spa as an income producing property and with over 26 hectares of hinterland it has the potential for resort development in the future.“There will be no changes to the operations or the management of the resort.”
Located in Upper Coomera at 423 Ruffles Road, the property features 10 villas, two storey owners residence and two spa suites.“The previous owners, Jan and John Nicholls from the Gold Coast bought the land 14 years ago and have fastidiously developed and operated the resort since its inception.
“They are now looking to move interstate to be closer to family and grandchildren,” Gilchrist says.The owners say since rebranding from Ruffles to Peppers in 2010, occupancy increased about 20 per cent.