Townsville City, Queensland
2626MF - HISTORY, LOCATION AND CASH FLOW EQUALS ONCE IN A LIFETIME ACCOMMODATION OPPORTUNITY
Money maker with huge upside. Position, Position, Position!
The high-value boutique Historic Yongala Lodge by the Strand motel is located in the premium district of Townsville, adjacent to The Strand and the beach.
- Prestige location, close to restaurants, shopping and Tourism Hub. Walking distance to the Casino, Marina, CBD and the new North Queensland Stadium.
- The main building is an iconic Townsville landmark, once a famous Homestead and restaurant, with views of the ocean from the front verandahs. Significant options and cashflow-add opportunities exist from this area alone.
- The motel accommodation is in two low-maintenance brick buildings at rear of property.
- Pool newly built in 2014, and the pool equipment more recently upgraded.
- Major renovations to the property have been undertaken at a cost of over of $600,000.
- Significant upside and growth available to take the property to the next level.
Comprising 10 apartments, 8 rooms and 1 studio, plus the Historic Building (which is a blank canvas) to develop into a further cash flow, e.g. additional rooms, a cafe, functions, sub-lease etc.
Significant opportunities exist to utilise the currently vacant and non-income producing Historic building (bar, restaurant, commercial kitchen, function rooms). This could be either a boutique offering to compliment the property and business, or convert (subject to approvals) into some boutique high-value rooms at minimal cost and significantly boost the property’s net profit.
Expected increase subject to finish would be expected to conservatively exceed $46,372 per room additional income per year with fixed costs covered by the existing rooms and a benefit to net of $32,000 plus per room would be achievable.
It’s a low maintenance, beautifully maintained property with a long term solid and consistent trading history. You can move in today and make $ (Money) but you can also enhance the offering and make considerably more for minimal cost. This is a very, very rare and fantastic opportunity that you should explore as it all makes sense.
Conservative Nett in excess of $600,000 per annum is realistic, this Property is well priced at $3.95M, representing a Freehold Going Concern Yield of 17% is achievable.
It oozes opportunity, quality, history, an exceptional and highly desirable location and prestige – Make it Yours!
Contact us today for a comprehensive information memorandum, detailed photographs and financials for this opportunity.
Net Profit (adjusted): $672,909 for 12 months (Oct 2020 - Oct 2021)
Contact Michael Philpott and Antonio Curulli from Tourism Brokers for further information or to arrange an inspection.
Property ID: 2626MF (quote when enquiring)
Location: In the beachside tourist area of Townsville and walking distance to the central business district. The area is very popular with domestic and international tourists and investors. It is home to some of the city's top attractions including The Strand, a 2.2 km palm lined beachfront promenade with million-dollar views of Magnetic Island, the Water Park, the Rockpool and Castle Hill. The airport is a 10 minute drive.
With a robust commercial base and an ambition for greater population, prosperity and progress, Townsville North Queensland provides a wealth of opportunities to live, work, invest and develop.
Property Code: 3989