75 Wentworth Avenue Sydney, NSW 2000
Veriu Central Hotel
- Sale and long leaseback
- 112 rooms
- Diverse income with 5 leases
Rarely does the opportunity arise to secure a freehold Sydney CBD hotel. Located on the corner of Wentworth Avenue and Elizabeth Street, the Property’s enviable position ensures it captures a broad variety of demand through its proximity to major commercial towers, the International Convention Centre (ICC), Chinatown, as well as the vibrant dining, entertainment and creative precinct of Surry Hills.
The hotel is being offered for sale on a leased basis. There are also four other retail shops housed within the building that are currently being leased.
The Hotel features 112 recently renovated rooms wrapped within a stunning heritage façade. Along with upgrades to the rooms furniture and carpets, all bathrooms have received full renovations. The Hotel lobby has also been refurbished to create an inviting modern arrival experience. As a consequence, an incoming purchaser has no medium-term capital expenditure requirements, and is set to benefit from these recent works.
Finally, the current owner has explored a number of schemes to add additional floor space to the hotel, noting the current footprint sits well below the permissible planning guidelines in relation to floor space ratios and building heights. This creates development upside to the building that an incoming owner can capitalise upon.
Please contact one of our agents for further information.
Property ID: 503177538Last Updated: 14 May 2019