Cairns City, Queensland

Strong trading freehold going concern hotel with huge upside

SOLD

Business Description

Sunshine Tower Hotel, for sale by JLL Hotels & Hospitality, is being offered in-one-line for the first time since being constructed. Originally developed as a strata hotel, the current vendors identified the opportunity and amalgamated ALL lots, fully refurbished the building and are now offering the property with vacant possession.

Investment highlights include:

• Highly COVID-resilient trading with a strong occupancy - over 82% for the past 6 months despite travel restrictions during this period
• Situated on a 1,532sqm* site in the heart of Cairns City
• Exceptional improvements including - 61 apartments/hotel rooms, hotel grade reception area, restaurant (currently leased), retail tenancy (currently leased), resort-style pool and spa, BBQ area and landscaped gardens
• Full building refurb completed recently with no CapEx required
• Large rooms (average 35sqm+) that provide the opportunity to let out on longer term/permanent basis providing the operator with options
• Operated by owner managers - offered for sale with vacant possession, opportunity for owner operators or brands to get a foothold in the Cairns market or expand their presence
• EBITDA of $1.16m+ projected based on last 6 months trading (which included months with very limited interstate guests)

*Approx.

To obtain a copy of the Information Memorandum, please contact Gareth Closter

Business Summary

Marketing Agent
Gareth Closter
Gareth Closter

JLL Hotels & Hospitality Group

JLL Hotels & Hospitality Group

Key Investment Insights

1. Highly COVID-resilient trading with strong occupancy despite travel restrictions.
2. Prime location in the heart of Cairns City.
3. Fully refurbished building with no CapEx required.
4. Opportunity for longer term/permanent rentals.
5. Potential for owner operators or brands to enter or expand in the Cairns market.
6. Projected EBITDA of $1.16m+ based on last 6 months trading.
7. Large rooms averaging 35sqm+.
8. Vacant possession.
9. Resort-style amenities including pool, spa, BBQ area, and landscaped gardens.
10. Opportunity for further growth and development.
11. Offered for sale in-one-line for the first time since construction.
12. Amalgamated lots for maximum potential.
13. Currently operated by owner managers.
14. Information Memorandum available upon request.
Listing location
Gallery
Video

This Business is sold

Listing Tools

Management Rights

Receive new listing alerts

Sign up
Similar Hotels For Sale

You may also like

Permanent Management Rights - Option to Live on or Offsite
Exclusive - 1.86 Multiplier with 3-Bedroom Residence – ID 9144
Mid North Coast Riverfront Leasehold Motel with 25 Year Lease - 1P5993M
No Requirement To Live Onsite - ID 8411
Beachfront Going Concern Tourist Park, Far North Queensland - 1055CPF
FREEHOLD - MIXED-USE COMMERCIAL PROPERTY WITH APPROVALS & EXPANSION POTENTIAL | Resort Brokers ID : FH008317
Exclusive - Outstanding Modern Complex Caretaking Only - ID 9121
UNLOCK INVESTMENT POTENTIAL: PRIME NARRABRI SERVICED APARTMENTS AWAIT! | Resort Brokers ID : FH008316
LEASEHOLD MOTEL WITH PRIME POSITION & PROVEN PERFORMANCE  | Resort Brokers ID : LH008313
Enticing Business Opportunity
Well-established CBD Hotel with Gaming & Accommodation - 1P6039
ACCOMMODATION & TOURISM BUSINESS FOR SALE IN CAPE TRIBULATION - 2820MF
Multi-award winning resort - Tweed Byron Hinterland FHGC | Resort Brokers ID : FH008315
Absolute Beachfront Resort Complex
Waterfront Property within Resort
Drouin Motel - 1P6044
Small Permanent Complex in Southport - ID 8381
Beautiful Redlands Area