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 thrilled 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 accommodation business in a prime central Bright location, set across 2,640 square metres and three titles.
2. Six fully renovated apartments comprise five two bedroom apartments and one studio, alongside a spacious three bedroom owners residence.
3. Resort setting with a rear yard flowing onto the Ovens River reserve and trails.
4. Ten years of consistent trading figures, with recent occupancy exceeding 80% following renovations.
5. Recently completed renovations across all apartments reduce immediate capital expenditure requirements.
6. Potential to increase room rates offers scope to improve revenue per available room.
7. Owners residence can be retained for personal use, rented long term or added to short term accommodation.
8. Space for additional accommodation, subject to council approval, with two street frontages supporting future development options.
9. Local property management offers an option for investors seeking less direct operational involvement.
10. Documented recent improvements provide supporting information for a depreciation schedule.