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RACV acquires Noosa Sanctuary Resort

The Victorian Auto Club RACV, which already owns five resorts, including the RACV Royal Pines Resort on the Gold Coast, will add Noosa Sanctuary to its expanding resorts division.

Sue Blake, RACV Executive general manager, Member Interests said that “the intent of the acquisition was to add to the range of affordable holiday opportunities which RACV provides for its members.”

The Victorian Auto Club RACV, will add Noosa Sanctuary to its property portfolio

“We are delighted that we have been able to exchange contracts on Noosa Sanctuary and we expect to complete the sale on or before the 30 November,” said Deloitte partner and joint receiver & manager, John Greig.

“When we were appointed back in March, the resort was newly completed and hadn’t commenced trading,” said Greig. “We opened and launched the resort just before Easter with the appointment of Mirvac Hotels as managers in order to enhance value and demonstrate the appeal of the resort to interested parties throughout the marketing process.”

Noosa Sanctuary is located close to Noosa’s Main Beach and Hastings Street, comprises 149 apartments and villas and a central management and amenities building, including a restaurant, bar, business centre, day spa, tennis courts and pool. The resort includes 109 residential Lagoon apartments, 25 three-bedroom villas and 15 luxury four-bedroom residences.