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%
