‘Mum and dad’ brothel owners list final lucrative asset
A building purpose-built for a northern NSW brothel is for sale
The longtime owners of a northern NSW legal brothel have listed the last of their stable of commercial assets — but the lucrative business will continue its trade.
The property housing Sasha’s on Cook St, Lismore is for sale via an expressions of interest campaign with Harcourts Coastal Commercial agent Dax Roep, with the current tenants to stay on under new ownership.
Mr Roep said the owners were “mum-and-dad investors” who had opened two brothels in the region after identifying a gap in the local market for the service.
The building is located within South Lismore’s main industrial precinct
Their other brothel trading as Ballina Exclusive Company sold for $1.4m in September 2022 to an interstate investor following a six-month marketing campaign, also with Mr Roep.
Property records show the 4325sq m site in the general industrial-zoned area last changed hands for $242,000 in July 2006.
Current annual rental return on the building is $85,000, according to the listing
“The building is super-high quality and was purpose built for this specific use by the owner,” Mr Roep said.
“The owners are local northern NSW people who saw a gap in the market and it’s been very successful for them. They’re certainly what you’d call mum and dad investors and they’ve always had long-term operators in both.
“The tenant has the luxury of no competing businesses within the immediate area.”
There are multiple themed client rooms
The property, described as “Lismore’s only gentlemen’s club”, comprises a 576sq m building and will be sold with a five-year lease plus option to renew for a further five years.
According to Sasha’s website, clients can select adult services starting from $170 for 20 minutes delivered at one of several themed private rooms.
Mr Roep said the business was located within South Lismore’s main industrial estate, five minutes from the CBD and surrounded by a number of car yards as well as Bunnings.
The business trading as Sasha’s will continue to operate under a five year lease with option to renew for a further five years
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He said demand for tenanted investments in the Gold Coast and northern NSW regions remained strong, despite rising interest rates putting pressure on rental yields.
The property’s commercial-quality fitout included recessed lighting, ducted air-conditioning, 12kw solar system and two 50,000l water tanks.
