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FIRST-RATE QUEST FREEHOLD PASSIVE INVESTMENT IN THRIVING VICTORIA | Resort Brokers ID : INV008393
$11,500,000
Motel (Freehold) hospitality, Sale VIC
Quest Sale presents an incredible opening to secure a first-rate freehold passive hotel investment, well under replacement value, in the economically vibrant Gippsland region of Victoria.
With a yearly net rent of $862,632, Quest Sale enjoys the immense benefit of being part of Quest Apartment Hotels, Australias hugely successful hotel franchise.
The incoming owner will have the security of a blue-chip tenant in the form of a Quest franchisee, who operates the hotel in line with Quests highly successful business format franchise system.
A long-term lease in place until 2047 (3 years remaining plus4 x 5-year options) provides the incoming owner with long-term stability.
Comprising 35 apartments, opening to 53 keys, Quest Sale is strategically located in the town of Sale, a major administrative centre and service hub in Gippsland, 215 km east of Melbourne.
Home to over 14,300 residents, andmany more itinerant workers, Sale enjoys a strong economic base that future proofs the citys long-term prosperity.
Gippsland is a high growth region, and a lynchpin for Victorias agricultural and energy industries. The Victorian Government has designated Gippsland as one of six Renewable Energy Zones that will supercharge the states shift from carbon-intensive electricity generation to more sustainable sources.
Quest Sale enjoys exceptional occupancy with repeat clientele from major corporates including energy giants ExxonMobil and Star of the South, and the Royal Australian Air Force.
To further capitalise on corporate visitation to this bustling regional centre, Quest Sale has a 60-seat conference room which broadens its appeal to the business market.
Astute investors should be quick to consider this exceptional opportunity to own a rock-solid accommodation asset in Victorias thriving Gippsland region.
- Freehold passive investment of Quest Sale
- High annual net rent of over $862,000
- Net rent growing with fixed 3% annual increases and market rent review
- Returning 7.5% yield
- Gippsland location, under 3 hrs to Melbourne and 45 mins to Traralgon
- Regional economic powerhouse supporting keys industries of agriculture and energy
- 53 keys from studios to 3-bedroom apartments
- Wide array of room sizes caters to business/leisure, long/short stays
- Long-term lease in place until 2047 (3 years remaining plus 4 x 5-year options)
- Strength of Quest brand, Australia’s leading apartment hotel brand
- Exceptionally high occupancy with high calibre corporate clientele
- 60-seat conference facility attracts business trade
Date updated: 15 Dec 2024 22:00:03
More Information
- Total Purchase Price: $11,500,000
- Net Income: $ 862,632
(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.
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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?