The Tiarri on Terrigal apartments have been sold for $3.5M.
Manenti Quinlan & Associates sold the boutique accommodation property to Lewis Corporate Group Pty Ltd, run by a local Central Coast couple who plan to operate the business themselves.
Tiarri on Terrigal comprises eight fully refurbished, self-contained apartments, each furnished to a high 4.5-star standard.
It is set on a prime 696sqm site within easy walking distance of Terrigal Beach and the boutique shopping village.
The sale was conducted via a private treaty campaign, which attracted exceptionally strong interest.
Manenti Quinlan & Associated Director Ray Larkin said the business was currently trading at over 80% occupancy, with annual turnover exceeding $500,000.
Room rates range from $250 to $500 per night, depending on the season.
With Terrigal Beach continuing to grow in both residential and commercial appeal, the future looks bright for the property, he said.
