Colliers brings Rye Beach Motel in popular Mornington Peninsula to market

The fully operational Rye Beach Motel, which has been in operation for 32 years, has been brought to market for the first time in 13 years by Colliers agents Andrew Ryan, James Zhuang and Lucas Soccio.

Located in the heart of the Mornington Peninsula suburb of Tootgarook, the motel sits on a large corner allotment possessing a land area of 2,384sqm providing a favourable General Residential Zone 1 (GRZ1), allowing for numerous uses, including continued short-term accommodation or low to medium density residential over three levels to name a few.

Andrew Ryan, Associate Director of Colliers Melbourne Metro Sales, said, “The existing improvements consist of 14 well-appointed and self-contained guest rooms, reception, managers residence, laundry, garden sheds and a covered BBQ area, with plenty on-site and off-street parking for guests and staff.”

“Offered with vacant possession, Rye Beach Motel is expected to excite the broader market, including both owner occupiers, investors and developers, as the considerable land holding and favourable zoning will continue to protect the underlying land value for many years to come.”

This motel is prominently positioned in the heart of the well-known and extremely popular Mornington Peninsula. It provides its residents and visitors with a plethora of amenities, including immediate access to Port Phillip Bay and shopping villages such as Rye, Rosebud, Blairgowrie, Sorrento and Portsea.

“Rye Beach Motel is positioned along one of the most in-demand beachside locations, which continues to grow in popularity,” said Colliers Executive James Zhuang.

With over 8.2 million domestic tourists each year, Mornington Peninsula is home to some of Victoria’s best golf courses, wineries and numerous high-profile culinary experiences. Tourism in the region contributes approximately $368 million per year to the local economy, generating over 3,712 jobs across all seasons.

“Rye Beach Motel’s corner position provides unbeatable exposure to a large amount of passing traffic with Point Nepean Road running from the edge of the Peninsula in Portsea all the to Frankston and is the main thoroughfare and access point to the entire Peninsula,” added Mr Zhuang.

With price expectations in excess of $3 million, Rye Beach Model at 1929 Point Nepean Road, Tootgarook, is offered for sale by Expressions of Interest, Wednesday 22nd of November 2023 at 3pm (AEDT).