55-57 Gavan Street, Bright, Victoria

FREEHOLD GOING CONCERN - Goldfield Riverside Apartments, Bright VIC - 1P0625

FREEHOLD GOING CONCERN - $3,450,000

Business Description

MHB is delighted to present the freehold going concern sale of the Goldfield Riverside Apartments, Bright.

Highlights include:

* 6 fully renovated, self-contained apartments plus spacious 3 bedroom owners residence in resort setting with rear yard flowing onto the Ovens River reserve and trails.

* 2,640m2 of well laid out resort in prime central location in Victoria's fastest growing regional tourist town of Bright.

* Current configuration consists of 5 recently renovated 2 bedroom apartments plus one fully renovated studio apartment.

* 10 years of consistent figures with recent numbers since renovation showing some of the strongest occupancy >80% and profitability in any accommodation business I have seen.

* Recently completed tasteful renovation on all apartments leaves an investor with nothing more to spend and plenty of upside in potential room rates to further maximise revenue per available room (rev par).

* Full list of recent improvements demonstrates thoroughness of renovation and provides a handy depreciation schedule that should excite your accountant.

* Plenty of upside is still on offer for investors with the property currently on three titles, option to long term rent owners residence or add to short term rental plus space for additional accommodation on property STCA with two street frontages.

* For a lifestyle focused investor apartments could be run by local property management whilst leaving a substantial owners residence to enjoy or rent separately for even higher yield.

To make an enquiry or arrange an inspection, contact Bennett Mountjoy direct on ---------- .

Business Summary

Other Features / Notes

EXCLUSIVE, FREEHOLD GOING CONCERN, VIC - North East

Marketing Agent

Bennett Mountjoy

McDonald Hospitality Brokers (MHB)

Key Investment Insights

AI generated. Confirm details with the seller.

1. Freehold going concern on 2,640 square metres across three titles, with two street frontages.
2. Six fully renovated, self contained apartments comprise five two bedroom apartments and one studio.
3. Ten years of consistent figures, with recent occupancy exceeding 80% following renovation.
4. Recently completed renovations leave no further expenditure identified and provide potential depreciation benefits.
5. Prime central Bright location, with the rear yard flowing onto the Ovens River reserve and trails.
6. Spacious three bedroom owners residence offers lifestyle flexibility or potential additional rental income.
7. Potential to increase room rates and maximise revenue per available room.
8. Space for additional accommodation, subject to council approval.
9. Local property management could operate the apartments, allowing owners to retain or separately rent the residence.