Multi-million dollar sale of By The Sea Resort sees new owners after 15 years
RECORD SALE
BUSINESS FEATURE
After 15 years of turning a 3-star motel into a cherished boutique resort, Wendy and Alan Crossman have announced the sale of Macrossan Street resort, By The Sea Port Douglas.
This boutique gem, formerly known as Archipelago, has seen a remarkable transformation since the Crossman’s acquired it in 2009 but after almost two decades of ownership, the pair have decided that it’s time to hand over the reins.
“We’ve loved every minute of our journey with By The Sea and all the people we’ve met along the way but we feel it’s the right time for us and the resort to move onto the next chapter,” said Mrs Crossman.
When the Crossman’s first took over the property, it was a 3-star motel with huge potential that the Crossman’s saw immediately. “It was very well built and is obviously in a great location and we knew we could turn it into something great,” Mrs Crossman recalls. From there, the transformation became a passion project, renovating it to become one of the most sought-after seaside resorts for those visiting the town.
Boasting a 95% occupancy rate, repeat guests and its proximity to the iconic Four Mile Beach, it’s no wonder there was extensive interest in the property once it hit the market. Listed for sale by Alan Crossman of Property Shop Port Douglas and Alex Stagg of McDonald Hospitality Brokers, the sale came to a cool $7.2 million, making it one of the highest real estate sales in Port Douglas this year.
Stepping in to head the resort is a group of private investors from Perth, who acquired not only the property and land but also the existing staff. In a show of commitment to the property, two members of the investing group have now relocated to the Douglas Shire to manage day-to-day operations and ensure a seamless transition for guests, something that was important to the Crossman’s when selling. “Guests can expect it to be business as usual and the same level of service they’ve always had despite the change in hands,” Mrs Crossman assured.
Reflecting on their journey, Mrs Crossman says she’s proud of what she’s done but that’s the right time to move on. She went on to express her extreme gratitude for everyone that helped By The Sea become what it is today and the team they leave behind. “I’ll miss my wonderful team and the happy guests coming and going. Our resort wouldn’t have been the same without them” she said.
As the Crossman’s bid farewell to their cherished project, they leave behind a strong legacy in By The Sea which, under new guidance, will continue to be a beachfront icon of Port Douglas.
------------
Want to showcase your business or event with a business feature? Please contact Feature Editor [email protected]