Description: Long 20 Year Term. Busy Broadway Shopping Precinct. Walk to Central Station. Opportunity for tariff growth and better financial control with a more involved owner-manager.
Star Standard: 3.5 star
Construction: brick and concrete slab. Medium-sized units ranging from 18-24m2. Fully renovated throughout with new paint work, carpet, and furniture. 47 units (10 permanent lettings, 37 hotel rooms)
Age: unknown; fully refurbished in 2023
Clientele: Mix of tourism and corporate
Land Area: 828 sq m, approx.
Tariffs: 37 Hotel rooms from $150 per night; 10 Permanent Student Rentals from $500 per week
Lease: 20 years (4 x 5 years)
Rent:
Year 1$400,000
Year 2$800,000
Year 3$1,000,000 then 4%
Bank Bond $330,000
Services: Small kitchen for breakfasts only, air-conditioned, limited parking, Wi-Fi, guest laundry, fire rated
Turnover: 6 Mths Hotel Revenue --.--.---- to --.--.----$967,173.76; Permanent Rentals $5,609 per week
Comment: This property offers a new tenant the opportunity to net a 35% yield with a bed only business. Leasehold accommodation businesses are rare in the CBD precinct of Sydney. Don't miss out!
