Exceptional freehold opportunity to the only Quest property in Townsville | Resort Brokers ID : INV008130
$19,900,000
Hotel hospitality, Townsville City QLD
ResortBrokers is excited to exclusively present to the market an exceptional opportunity to own the freehold investment of the only Quest-branded property in Townsville, Quest Townsville on Eyre.
Boasting a current yearly gross rent of $1,462,930 + GST, the rent will increase by 4% in April 2024 in line with the lease agreement. Quest Townsville on Eyre presents an outstanding opening to own the freehold passive of a blue-chip accommodation asset ready to capitalise on Townsvilles ever-growing appeal as a tourist and business destination.
With a blue chip tenant in the form of Quest, the incoming owner will have the security of having Australias leading apartment hotel brand as a competent operator managing a fully staffed and experienced team. The franchisee has a long term lease in place extending to 2042.
Notably, the property will have all major items required to be refurbished on behalf of the landlord completed before settlement or funds held in trust if these works cannot be completed due to the very high occupancy the property has been experiencing.- Freehold passive investment of Townsville’s only Quest-branded property
- Annual rent of$1,462,930 + GST
- Opportunity to buy a first-class asset with a high yieldcompared to other asset classes
- 85 serviced apartments from studios to three-bedroom apartments
- Wide array of room sizes caters to business/leisure, long/short stays
- Conference facilities accommodating 80 delegates attract corporate trade
- Central Townsville location, walking distance to The Strand
- Townsville’s established and growing appeal as a business/leisure destination
- Inspections by appointment only
Date updated: 21 Apr 2024 23:00:08
More Information
- Total Purchase Price: $19,900,000
- Net Income: $ 0
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 0
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: undisclosed
This is the approximate number of years the business' revenue would pay for the business component.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Are there any set office hours stipulated in the contract?
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?