"Short stay accommodation is a prized and often tightly held commodity on the [Mornington Peninsula]."
The Mornington Peninsula has long been an attractive destination for both international and intranational tourists. A difficult two-year period has caused issues for the area’s GRP and employment statistics, but with restrictions having been eased significantly over the past 12 months, visitors are flocking back to one of Victoria’s most inviting localities.
With that shift, hospitality assets in the region are returning to their pre-pandemic valuations, and major projects are being both activated and completed. See: IHG Hotels & Resorts’ recently opened InterContinental Sorrento Mornington Peninsula, which is looking to capitalise on the revitalised interest in the area.
15-33 Truemans Road, Capel Sound VIC 3940
Savills latest offering provides investors with an opportunity to take advantage of the tourism resurgence on the Peninsula, by acquiring a recently developed beachside holiday park that contains a range of self-contained villas, situated opposite the picturesque Capel Sound Beach. The substantial 5,869 sqm landholding at 15-33 Truemans Road features 67 new self-contained beach villas and is located only a short drive from Rye and Rosebud’s premier retail strips.
The Morning Peninsula’s population is more transient than many of its contemporary Melbourne municipalities thanks to its booming tourism industry, and as such, short stay accommodation is a prized and often tightly held commodity in the area. The expectation is that these villas will have lasting value to add to the local economy, and provide plentifully for the new owner through its holding income.
15-33 Truemans Road, Capel Sound is being brought to market via an Expressions of Interest campaign conducted by Savills' Tanya Su, Julian Heatherich, Nick Lower, and Benson Zhou. The campaign concludes on Wednesday the 7th of September, and Savills expects engagement from the market to be high.
