Prime waterfront accommodation site at Albany’s Frenchman bay snapped up for $1m by Singaporean developer

A Singaporean tourism developer has bought a prime waterfront accommodation site at Frenchman Bay for more than $1 million. The 3.2ha site, encompassing Lots 1 and 2 of Frenchman Bay Road, has been the target of several proposed tourism accommodation ventures in recent decades. It is the former site of the Frenchman Bay Caravan Park, established in 1959. In 2017, the City of Albany Council granted development approval for a 24-villa accommodation project which did not eventuate. The site, already rezoned for holiday accommodation, has been on the market through Ray White Commercial since February 2019, when it was advertised for $1.8m. Ray White Commerical senior property adviser Brett Wilkins said interest in the site had always been strong, but it had really picked up after the onset of the COVID-19 pandemic. In the week before Christmas, he received three offers. “The inquiries for regional tourism assets as a result of COVID-19 has increased exponentially,” he said. “There has been a massive increase in inquiry, and Albany is certainly a centre that people see value in. “It is a fantastic site with lots of potential. It could be anything from chalets as approved, to some up-market tourism development ... time will tell.” Mr Wilkins said the new owners of the site had requested that their plans remain confidential. Yesterday, City of Albany chief executive Andrew Sharpe said he was not yet aware of what was planned for the site. “The City is seeing a significant increase in tourism development, and any development proposal for this site will complement the tourism experience for Albany and the south coast region,” he said. “These sites were previously home to the Frenchman Bay Caravan Park and Tearooms until 2006, when they were demolished. “Since then, Lot 1 and 2 Frenchman Bay Road were rezoned to enable conditional development of caravan parks, caretakers’ dwellings, holiday accommodation or shops. “A development approval was granted in 2017 for 24 holiday accommodation units and a caretaker’s dwelling, however this did not commence.”