H otel L easehold Ref // LH005340
HOTEL LEASEHOLD OPPORTUNITY MELBOURNE CBD
50
If location is a key factor in the decision to purchase then this opportunity ticks all the boxes. The hotel is ideally positioned at the western end of Bourke street within the complimentary Melbourne CBD tram zone. The business consists of a 4-star rated independent hotel of 50 rooms, studios and apartments over 5 levels. Additional facilities include reception, restaurant, guest laundry, administration offices, relaxation room, housekeeping storerooms on 4 levels, small staffroom and ground level secure car park at the rear. The units generally include small kitchenettes with basic cooking facilities and are fully furnished to a highest standard. The business caters for a range of corporate and leisure clients with overall occupancy approaching 90%. Annual sales have exceeded $3,000,000 for the past 4 years with adjusted nett profit of over 20%. The lease has a total tenure of 24 years from 1st January, 2018, with annual rent increases of 3.5% and market review every four years. The current vendors operate the business under management with a 24 hour reception.
›› Operated under management with 24hr reception
Units
24 Years
›› Total leasehold tenure 24 years from January 2018 ›› Independent operation – opportunity for purchaser to re-brand ›› 50 units mixture of hotel rooms, studios, one and two bedroom apartments ›› Licensed restaurant on-site ›› Ideally positioned in Melbourne CBD, close to Crown Casino, Etihad Stadium, Southern Cross Station and Melbourne retail facilities ›› Well maintained to a quality 4-star standard
NETT PROFIT: $675,900 Turnover: $3,375,563
Price: Price on application
J im C hapman V ictorian S tate M anager +61 413 444 782 jimchapman@resortbrokers.com.au
M elbourne I S S U E N O . 9 0 | RESORTBROKERS.COM.AU
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