ResortBrokers has facilitated the sale of the management and letting rights of the Ivory Palms Resort in Noosaville, Australia, to Property Vine.

The financial terms of the deal were not disclosed.

The management rights have been transferred from a property fund and operator The Stay Company (StayCo) to Property Vine, reported The Hotel Conversation.

ResortBrokers Sunshine Coast agent Chenoa Daniel said: “Ivory Palms Resort is unique as the sole independently owned and operated resort of its scale in the region, distinguishing itself from comparable resorts that are all owned by major corporates.”

ResortBrokers Brisbane agent Jeff Keast said: “The sale of a property of this magnitude, with multiple income streams from cafes and conference centres, along with the intricacies of a large, diverse letting pool, made this transaction more complex than others. We were delighted to get it over the line.”

The 133-apartment, four-star resort spans 3ha in the Noosaville leisure hub, a short-stay zone.

It offers an array of amenities, including a gated children's playground, three swimming pools, two spas, a sauna, a games room, five barbeque areas, a floodlit tennis court, a restaurant, and a bar, among others.

Additionally, it houses the Ivory Palms Conference Centre, capable of accommodating up to 80 people.

The resort is a ten-minute drive from Noosa Main Beach, with its location also offering easy access to river cruises.

Property Vine specialises in management rights and property rentals, with a portfolio that now includes 14 management and letting rights businesses across Queensland.

This includes two recent acquisitions in Airlie Beach, also brokered through ResortBrokers.