The Shire of Broome in the north of Western Australia is located in the Kimberley Region. It is the largest population centre for the region and has an estimated residential population of some 14,500 people. Broome is an internationally recognised tourist destination with an increasing number of overseas and Australian visitors to the Town, each year.

According to the Shire of Broome and the WA Tourism Commission, during the peak tourist season (June to August), Broome’s population increases to over 45,000 per month. Visitors generally travel to Broome to enjoy the fine, warm weather which is missing from the southern regions of Australia [winter in the Southern Hemisphere is between June and August each year] and the laid back, relaxing attitude and feel of the region.

It is predicted that the economic drivers for the region will continue to expand thus increasing employment opportunities and population.

Our client has requested that the details of their activities in Broome remain confidential and we respect their wishes, we are however able to advise that we act as commercial counsel and hold an on-going watching brief on this asset. The asset is a significant land holding in the world-renowned beach side suburb of Cable Beach in Broome. This asset was secured:

• for its immediate proximity to the world famous beach,
• it land size, and
• the ability to realise future value in this undercapitalised asset.

The asset has an on-going, strong operating business based on tourism and which is set to mature over future years.