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Address available on request Geelong, VIC 3220

Address available on request,
Geelong, VIC 3220

Hotel & Leisure

Price information

Sale

$5.2M Plus $680K of Real Estate

Under Contract

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Off-the-Plan Purpose-Built 4.5 Star Apartment Hotel! | Resort Brokers ID : OTP005603

  • Exceptional heritage facade restoration
  • Anticipated completion end 2020
  • Rare, short-term off-the-plan, 5 star!
An exclusive opportunity to acquire the management rights and property to this iconic historical landmark overlooking Geelong's Eastern Beach.

- Incredibly rare opportunity to secure a purpose-built short-term management rights in Victoria's most sought-after, second largest and undersupplied city
- Ideal for an experiencedowner-operator or accommodation/hotel group seeking to expand theiroperations in a high-demand Victorian location
- Due for completion Q4 2020, it will commandprime position at the edge of theCBD with stunning bay views
- 109 apartments (127 keys) including18 dual-key apartments with all investors purchasing on the basis of a short-term letting
- This unique, short-termoffering enters the market at a timewhen Geelong is enjoying surging overnight visitation and has a strengthening economy.In fact, it attracts more than 1.5 millionovernight visitors pa. (greater than Hobart & Darwin) a market thathas shown a compound annual growth rate of4.5% since 2007
- Off-the-plan managementrights opportunity arising from the redevelopment ofGeelong’s elegant, heritage-listed Ritzbuilding on the corner of Bellerine andCorio streets
- Independently prepared income projections by specialist management rights accountant, Tony Rossiter of Holmans - projecting a net profit of $1.29 million
- Brand new 50 year caretaking and letting agreements (5 x 10 year terms)
- Ground level one-bedroom manager's apartment including a MPR with integrated security comms and single car park - $460K
- Separate freehold title consisting of 15sqm office with dual entrylocatedadjacent to reception on ground level - $220K
- Includes extensive branding and signage package installed during construction
- Geelong isattracting substantial private and Government investment with significantrenewal & revitalisation to many key landmarks
- Excellent security and communications systems to be installed
- Growing at 2.5% pa itcurrently has a population of morethan 244,000, a number forecast to eclipse 300,000 by 2031

Additional information

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Property ID: 503073894Last Updated: 28 Feb 2020

0417 *** ***
Address available on request
Geelong, VIC 3220

Agency contacts

Resort Brokers Australia   - South Brisbane
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Send to:

Tim Crooks
Resort Brokers Australia - South Brisbane
Address available on request Geelong, VIC 3220

Hi,
I’m interested in this property. Could you please provide me with more information.

Kind Regards,

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  • Tim Crooks

    Resort Brokers Australia - South Brisbane
    0417 *** ***