Brisbane City, Queensland

Brisbane CBD Leasehold Hotel

SOLD

Business Description

We are pleased to be able to offer to the market Turbot House which was originally built in 1916.
It is one of the very few well protected heritage buildings in Brisbane City.
Prior to transforming into a motel in the 1980s, this building was used as a farmer's warehouse, then offices. It now provides budget accommodation in the Brisbane CBD, and offers affordable accommodation for: - local, interstate, international travellers - students and school groups - corporate travellers - long-term tenants.
Walking distance to Queen Street Mall, South Bank, Suncorp Stadium & Railway Stations.
Long lease with 28 years remaining. Rent Review March 2020 with rent reduction. Removal of Franchise October 2020. Excellent cash flow business with strong occupancies.
Return on Investment based on 2021 figures is 30%.
Vendor is motivated for a sale.

Business Summary

Business Snapshot

Price: SOLD Net Profit: $325,000

Motel Information

Total Rooms: 59Stars: 3.5Liquor Licence: YesRestaurant: YesSale Type: LeaseholdLease Term: 28 years

Hotel Information

Total Rooms: 59Stars: 3.5Restaurant Facilities: YesLiquor Licence: YesRestaurant: YesLease: LeaseholdLease Term: 28 years
Marketing Agent
Calvin Bailey Management Rights

Calvin Bailey Management Rights

Key Investment Insights

1. Turbot House is a heritage building that has been transformed into a budget accommodation motel in the Brisbane CBD.
2. The motel caters to a variety of guests, including local, interstate, and international travellers, students and school groups, corporate travellers, and long-term tenants.
3. Its location within walking distance to popular attractions such as Queen Street Mall, South Bank, Suncorp Stadium, and Railway Stations makes it a desirable choice for visitors.
4. The business has a long lease with 28 years remaining and a recent rent reduction.
5. The removal of the franchise in October 2020 presents an opportunity for the new owner to rebrand or operate independently.
6. The business has a strong cash flow and high occupancy rates, making it a profitable investment.
7. The return on investment based on 2021 figures is 30%.
8. The vendor is motivated to sell, potentially presenting an opportunity for negotiation.
9. The motel has a total of 59 rooms and a 3.5-star rating.
10. The hotel also has a liquor license and restaurant facilities, making it a convenient choice for guests.
11. The business is being sold as a leasehold, with a lease term of 28 years.

ROI Estimate: 38.24%

Listing location

This Business is sold

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