Brisbane City, Queensland
Brisbane CBD Leasehold Hotel
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 30 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%.
Net Profit: $381,143
Motel InformationTotal Rooms: 59Stars: 3.5Liquor Licence: YesRestaurant: YesLease: LeaseholdLease Term: 30 years
Hotel InformationTotal Rooms: 59Stars: 3.5Restaurant Facilities: YesLiquor Licence: YesRestaurant: YesLease: LeaseholdLease Term: 30 years