Deltine buys Coffs Harbour motel
Deltine Capital has bought a fifth asset for the High Yield Motel Fund, which launched in 2023.
The waterfront Observatory Coffs Harbour is expected to deliver a 10 per cent yield.
On 2363 square metres at 30-36 Camperdown Street, the asset includes six three bedroom townhouses with lockable double garages.
It also contains 16 serviced apartments in two multi-level buildings.
Top floor studios have baths and balconies overlooking the water.
There are also beach views from the second storey.
All rooms are furnished (continues below).
The complex also includes a reception and pool.
Observatory Coffs Harbour
Deltine chief executive officer David Toomey said the property is popular with corporate travelers during the week and families on weekends.
The Deltine fund – Australia’s only wholesale motel fund – chases asset which can deliver double digit returns.
Last year it outlaid $8.4m for West Tamworth’s Roseville Apartments on an acre.
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