Albany, Western Australia

Fully Managed Leasehold Apartment Motel and Short-Stay Rent-Roll, Albany WA | Resort Brokers ID : LH008272

$2,450,000

Business Description

ResortBrokers is delighted to bring to market the Quality Apartments Banksia Albany, a remarkable leasehold investment opportunity nestled in the heart of Albany. This asset comprises 40 high-quality leased apartments (Quality Apartments Banksia Albany), complemented by an additional 42 short-stay "property management" residences (The BNB Collection) scattered across the greater Albany region.

Currently operating under employee management, this investment opportunity offers a seamless transition for the new owner. With 12 years remaining on the apartment leases, and options for extensions, the longevity of this investment is assured.

The financial performance of this asset is robust, with revenues exceeding $3.4 million in FY2023 and strong revenue increases projected for the current FY2024. This financial stability is underpinned by excellent reviews on Booking.com and TripAdvisor, where the property boasts a commendable 4.5-star rating.

All 40 leased apartments within Quality Apartments Banksia Albany have undergone a recent refurbishment, ensuring a modern and appealing aesthetic for guests. Furthermore, the leases include modernisation clauses, providing a safeguard for maintaining the property's contemporary appeal.

This is a unique opportunity to acquire a well-established and highly profitable asset in Albany, offering both immediate returns and long-term growth potential.

- The asset comprises 40 refurbished, high-quality leased apartments, with an additional 42 short-stay residences.
- Smooth transition assured with current operation under management.
- Long-term income stability with 12 years remaining on leases, and options to extend.
- Strong financial performance with revenues exceeding $3.4m in FY2023 and projected growth in FY2024.
- Highly rated onBooking.comand TripAdvisor with a 4.5-star rating.
- The benefit of a Choice Hotels Franchise in place until March 2026.
- Inspection by appointment only.
Date updated: 09 Jun 2024 23:00:16

Business Summary

Business Snapshot

Price: $2,450,000 Net Profit: $922,401
Marketing Agent
Blair Macdonald
Blair Macdonald

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