Description: Long 19 Year Term. Busy Broadway Shopping Precinct. Walk to Central Station. Opportunity for tariff growth and better financial control with more involved Owner Manager.
Star Standard: 3.5 star
Construction: Brick and concrete slab. Medium size units ranging from 18-24m2. Fully renovated throughout with new paint work, carpet and furniture. 47 units (6 permanent lettings, 41 hotel rooms)
Age: Unknown - Fully refurbished in 2023
Clientele: Mix of tourism and corporate
Land Area: 828sqm approx.
Tariffs: 41 Hotel rooms from $150 per night; 6 Permanent Student Rentals from $500 per week
Lease: 19 years (4 x 5 years)
Rent:
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: Permanent Rentals $3,085 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!
MQ Property ID:
7789065
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