MILDURA has become an Australian inland paradise, nestled on the nation’s longest river, and enjoying more days of sunshine than Queensland’s Gold Coast.
On the banks of the mighty Murray, this growing city of 35,000 people has become the commercial and leisure centre of the huge agricultural powerhouses that are the Murray Valley, Mallee and Sunraysia regions.
As a gorgeous farm district and gateway to the outback, Mildura is also a year-round destination for leisure tourists, holidaymakers and corporate clients involved in the production and marketing of grapes and citrus fruits, wine, vegetables, grains and nuts.
Its location makes it perfectly situated for the rapid recovery of regional tourism in Victoria, NSW and South Australia, and the even greater and sustained demand coming in a post-COVID environment.
The Mercure Hotel Mildura offers a freehold investment with an 8.16 per cent return.
In the heart of Mildura’s CBD, the property is just one block to the city’s retail and restaurant precinct, and the beautifully landscaped Murray riverfront.
The hotel is rated 4-stars and offers 17 apartments (16 x 2 bedroom, and 1 x 3 bedroom) and 51 suites.
A popular choice with key corporate and leisure markets, the hotel sleeps 208 people and includes a restaurant and bar, conference room, boardroom, and outdoor pool.
It is also a member of the world’s largest hotel group, Accor.
The current net lease rentals are: hotel $674,220 per annum and restaurant $34,332, while the five offices yield $88,563 for an aggregate of $797,115 per annum (plus GST).
All outgoings excluding land tax are paid by the tenants.
The total sale price, in one line, is $9,770,000 (plus GST if applicable).
Bob McCormick, of McCormick Motel Brokers, said the building was a Mildura landmark.
“It was developed into an accommodation hotel 14 years ago and the same operators are still running it,” Mr McCormick said. “They have about 10 months to go with the current terms and another three options of five years each.
“It’s a very well-located property, close to the river and to the mall. We believe it’s the best trading hotel in Mildura.
“Mildura is a gateway to the outback and it’s not that far to Adelaide or Melbourne. It’s a very strong centre for horticulture, wine and nuts. It’s also a very strong centre for tourism, and the Mercure is a high turnover accommodation place.”
The tenants since 2007 have been the Gibbens family, who for decades have been leading hotel operators.
Tenants in the property’s five offices include Grainwise, Uniting Age Well and the Australian Table Grape Association.
Mildura has become a vibrant regional city full of contrast, with magnificent sunsets over the river that give way to a magical star show that is then overtaken by spectacular sunrises.
A 90-minute drive west from Mildura takes visitors into South Australia's rich Murray Riverland region surrounding Renmark and Berri.
Just 30 kilometres north-west of Mildura is the historic port town of Wentworth in New South Wales, where the Murray River meets the Darling at the gateway to a vast outback region, the heart of Australia.
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