St Kilda, Victoria

Seize Melbourne's backpacker demand with a spacious hostel in St Kilda's hotspot | Resort Brokers ID : LH008296

$1,850,000

Business Description

ResortBrokers presents The Ritz for Backpackers, a prime investment opportunity in St Kilda. This two-storey hostel, located on Fitzroy Street, offers 115 beds across 30 rooms.

With a long-term lease of 24 years and a current 100% occupancy agreement, this property provides a secure income. It's within walking distance of key attractions and has excellent public transport links.

The new owner has the potential to continue the current occupancy agreement or cater to the traditional backpacker market.

- Strategic location of Fitzroy Street in tourist hotspot St Kilda
- Potential to continue current 100% occupancy agreement with agriculture business for the medium term
- Ample accommodation with 115 beds across 30 dorm-style rooms
- Benefiting from market rent.
- Long-term security with 24 years remaining on the lease.
- Within walking distance to key attractions - Albert Park, St Kilda Beach, Acland Street, and Luna Park.
- Located in St Kilda tourist hot-spot
- Excellent connectivity with public transport links to Melbourne CBD.
Date updated: 09 Jun 2024 23:00:17

Business Summary

Business Snapshot

Price: $1,850,000 Net Profit: $752,680
Marketing Agent
Chris Boschetti
Chris Boschetti

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