2510MF - Money Maker With 4 Bed Residence and Huge Redevelopment Opportunities
On offer is the Townsville Seaside Apartments, which have been owned by the same family for 26 years and during that time has enjoyed a very healthy revenue stream and expansion.
Imagine owning your own business and living right there on Townsville's iconic, The Strand promenade. Surrounded by restaurants, cafes and just a short walk to the Rock Pool, Townsville Seaside Apartments are perfectly situated at the northern end of The Strand, overlooking the beach and Magnetic Island.
The Strand has recently undergone a $2.8 million redevelopment, plus the newly proposed 6 ha Crystal Lagoon that's set to transform The Strand and draw thousands of tourists to Townsville, is expected to be built by 2020.
In recent years, due to ill health this once thriving motel business has been allowed to slow down to just a trickle. It's now time for the family to let her go to be rejuvenated by a new enthusiastic owner, who has the energy to operate this business at its full potential.
This is your chance to acquire a large land allotment that extends from The Strand to Mitchell Street at the rear of the property. The site is 2,626m2; consisting of Title 1, measuring 1,614m2 located at 105 The Strand, North Ward - $4,680,000 and Title 2 measuring 1,012m2 located at 159 Mitchell Street, North Ward - $2,520,000.
This complex, although currently run as a motel, presents an array of opportunities that include continuing to operate as a motel or management rights, let as permanent rental accommodation or redevelop the site as a multi storey residential.
The double storey manager's residence is at the front of the complex and has balconies on both levels that overlook the pool and spa and have magnificent views across the beach to Magnetic Island. Other features of this large residence are four double bedrooms, views from the living areas, lots of storage and access to the second level via both of the single lock up garages. The lower level of the manager's residence is currently used as reception and office space, but presents an opportunity to be converted to an independent residence, shop or cafe as it is a completely separate apartment with direct access to the pool and front entrance.
Alongside the manager's residence and office are 9 fully self-contained two bedroom townhouses with undercover parking, a covered barbeque area and lock up storage sheds. The back half of the complex (separate Title) has a further six double storey, fully self-contained townhouses and a studio apartment, all with their own courtyards and garage parking. Entrance to this part of the complex is via Mitchell Street. The pool and spa have recently been renovated and the complex as a whole is impeccably kept.
This beachfront property is just waiting for someone to relaunch her and regain her former glory. It's an opportunity not to be missed, so call Mark to arrange an inspection.
Contact Mark English from Tourism Brokers for further information or to arrange an inspection.
Property ID: 2510MF (quote when enquiring)
Property Code: 2566
Motel InformationRestaurant Facilities: -Liquor Licence: -Restaurant: -Lease: -