Seascape acquires Driftwood Mantaray management rights
Tuesday March 17 2015, 2:30pm
Seascape Holidays Queensland concluded the purchase of the Driftwood Mantaray management rights this month and intends to bring the property back to its former glory.
Headed by Tom Hynes and Zac Sarnecki, Seascape Holidays is fast becoming a large player in the region – not only managing both Driftwood Mantaray and Niramaya Villas and Spa – but also over 20 individual holiday apartments and homes in Port Douglas.
Driftwood Mantaray is a 4-star holiday apartment complex centrally located in Port Douglas offering two and three bedroom holiday apartments.
The property includes a reception area, reservations desk, tour booking facilities, two spas, BBQ areas, and pools, and on-site management.
Mr Hynes says they are committed to seeing family friendly resort regain its reputation as the preferred provider in Port Douglas’ 4 star accommodation.
“The aim is to turn the property into the most sought-after accommodation choice in town, while at the same time maximising returns for investors,” Mr Hynes says.
“It is a very popular complex on the main street of town, just seconds from the beach.
“What people love about these apartments is how spacious they are and that they are very kid-friendly. They are very comfortable and easily located in one of the best spots in town.”
Seascape Holidays have already controlled 11 apartments within the complex for a number of years while previous Management Rights Owners, Latitude 16, had full control over the property and other five apartments.
Mr Hynes says the property’s location is second-to-none but it needs more dedicated attention in terms of maintenance, management and marketing to return to its prime.
“Latitude 16 was heavily indebted, which resulted in proceeds being used to pay debts instead of building the business,” Mr Hynes says.
“With the acquisition of the Management Rights, we can now take over the office and caretaking agreements, and formally take over the management of the complex as a whole.
“By gaining the master contracts, we will be able to better distribute and position the entire building once more.
“Our goals are to fix the gardens and grounds, improve occupancy all round, and restore confidence in the building following years of mismanagement.”
Mr Hynes says Seascape provided strong occupancy for the apartments they already managed, so they are confident that they can easily fill the building with guests.
“We already controlled 11 apartments, which means we only need to rejuvenate the remaining five apartments and take charge of marketing for the building,” Mr Hynes says.
“Several Seascape-managed apartments have previously been refurbished and experienced increases to their revenue as a result.
“We’ll be encouraging the other owners to follow suit, with the understanding that they need confidence once more in management before they invest further into the complex.”
