Launceston, Tasmania

Cornwall Hotel Leasehold

SOLD

Business Description

Knight Frank are pleased to offer for sale the leasehold interest in the Cornwall Hotel.

The Cornwall Hotel offers a great opportunity to acquire a long term leasehold of an accommodation facility in the CBD of Launceston with options through to 2049.

Ideally situated in the city centre, the Cornwall Hotel has a rich history serving Northern Tasmania since 1822.

The property is one of Australia’s oldest and most historic hotels having been built in 1822 and was the founding place for the City of Melbourne.

It is classified by the National Trust of Australia and is listed on the Tasmanian Heritage Register.

Currently enjoying dual income streams from operating as a successful 3 star hotel & permanent accommodation/ meals area for farm workers.

Two strong contracts are in place guaranteeing permanent accommodation income from July 2022.

Offering a total of 40 rooms with 154 beds plus a managers residence the Cornwall Hotel would suit an owner operator or hotel management group looking to expand into the tightly held Launceston CBD accommodation market.

Business Summary

Marketing Agent
Charles Black
Charles Black

Key Investment Insights

1. Prime Location: The Cornwall Hotel is located in the CBD of Launceston, making it a desirable and convenient location for guests.

2. Long-Term Lease: The leasehold interest for the Cornwall Hotel is available until 2049, providing a long-term investment opportunity.

3. Rich History: The Cornwall Hotel has a rich history dating back to 1822, adding to its charm and appeal for guests.

4. National Trust Classification: The property is classified by the National Trust of Australia, adding to its historic significance and potential for marketing.

5. Dual Income Streams: The Cornwall Hotel currently generates income from both a 3-star hotel and permanent accommodation for farm workers, providing multiple revenue streams for the new owner.

6. Strong Contracts: The hotel has two strong contracts in place, guaranteeing permanent accommodation income from July 2022.

7. Large Capacity: The hotel offers a total of 40 rooms with 154 beds, making it well-suited for large groups or events.

8. Manager's Residence: The Cornwall Hotel also includes a manager's residence, providing on-site accommodation for the owner or manager.

9. Potential for Expansion: The hotel would be a great opportunity for an owner-operator or hotel management group looking to expand into the Launceston CBD accommodation market.

10. Tightly Held Market: The Launceston CBD accommodation market is tightly held, making the Cornwall Hotel a rare and valuable investment opportunity.
Listing location

This Business is sold

Listing Tools

Management Rights

Receive new listing alerts

Sign up
Similar Hotels For Sale

You may also like

Best Value  Tasmanian Hotel All Revenue Streams , Excellent Presentation FHGC 0/0 $895,000 +sav
Business Brokers Network Australia
Best Value Tasmanian Hotel All Revenue...

27-29 Driffield Street QUEENSTOWN

o/o $895,000+sav

Restaurant Facilities: -
Liquor Licence: -
Restaurant: -

Exclusive - Beautiful QLD Beachside Lifestyle Business - ID 9186
Renovated Mid North Coast Freehold Going Concern Motel - 23 Rooms - 1P6333M
Unlock a Thriving Accommodation Opportunity: Invest in Tauranga's Arty Apartments.
Thriving Area, Excellent Returns, A Unique Management Rights Opportunity!
Undervalued Opportunity $67,900 Guaranteed Income, Prime Ground Floor Unit.
Beautiful Bayside Lifestyle Business and Great Manager Residence
Waterfront Mixed letting in Biggera Water/brilliant business !!
LARGE PERMANENT MANAGEMENT RIGHTS - $635K+ NOP BOWEN HILLS - BRISBANE | Resort Brokers ID : MR008661
Absolute Beachfront Management Rights Opportunity - Pavilion Apartments, Mount Maunganui
Well-Maintained And Easily Manage Well Presented And Maintained 25 Room Motel With Upside - 2029ML
Waterfront short-term business netting over $900k | Resort Brokers ID : MR008616
Gold Coast Broadwater holiday MR offering a 16% ROI | Resort Brokers ID : MR008550
Prime Management Rights in Robina - High Returns & Modern Facilities | Resort Brokers ID : MR008617
Brisbane’s Best Business Only MLR – Dual Complex, Low Maintenance, High Returns!
OUTBACK MOTEL OASIS WITH SOLID RETURNS - 1437ML
OUTBACK CARAVAN PARK OASIS WITH SOLID RETURNS - 757CPL
Southern Comfort Motor Inn - 1P6293
Investment Opportunity: Central Apartments Varsity