12-18 Palmer Street,
Townsville City, QLD 4810
Hotel, Motel & Leisure • Shops & Retail
Key property information
Land area
Floor area
Property extent
Tenure type
Sold on
Map of 12-18 Palmer Street
TOWNSVILLE CENTRAL HOTEL
TRIPLE NET LEASE HOTEL OPPORTUNITY
- 25 year triple net lease until 2041 to an established operator with options to 2051 with 1 year rental bond held by the landlord.
- Substantial tenant (Central Apartment Group) - with 9 major east coast hotels.
- Four storey 3.5 star hotel - 118 rooms plus restaurant / function area and 50 car spaces.
- Large 3,127sqm* block with potential to expand and a GFA of the hotel 4,350sqm*.
- Modern building constructed in 2006 for $24m*, offering substantial depreciation benefits.
- Strong town centre location with dual street frontage, one to Palmer Street - Townsville's main hotel precinct with easy access to nightlife and The Strand.
- Easily managed single tenant investment - net income $850,000* p.a. plus GST (8.5% yield anticipated), with annual 2.5% rent increases.
- Townsville is a services hub of Queensland, including agriculture and resources, and is a major tourist centre with the Great Barrier Reef, Magnetic Island and Townsville Museum.
*all areas and figures approx. only
AUCTION: Tuesday 28 June at 11:00am AEST at Doltone House Hyde Park, 181 Elizabeth Street, Sydney (Unless Sold Prior)
- 25 year triple net lease until 2041 to an established operator with options to 2051 with 1 year rental bond held by the landlord.
- Substantial tenant (Central Apartment Group) - with 9 major east coast hotels.
- Four storey 3.5 star hotel - 118 rooms plus restaurant / function area and 50 car spaces.
- Large 3,127sqm* block with potential to expand and a GFA of the hotel 4,350sqm*.
- Modern building constructed in 2006 for $24m*, offering substantial depreciation benefits.
- Strong town centre location with dual street frontage, one to Palmer Street - Townsville's main hotel precinct with easy access to nightlife and The Strand.
- Easily managed single tenant investment - net income $850,000* p.a. plus GST (8.5% yield anticipated), with annual 2.5% rent increases.
- Townsville is a services hub of Queensland, including agriculture and resources, and is a major tourist centre with the Great Barrier Reef, Magnetic Island and Townsville Museum.
*all areas and figures approx. only
AUCTION: Tuesday 28 June at 11:00am AEST at Doltone House Hyde Park, 181 Elizabeth Street, Sydney (Unless Sold Prior)
Townsville City, 4810 demographic data
The median household income for Townsville City is $2,013, 34% higher than Regional Queensland's household income of $1,507. Townsville City has a younger age profile compared to the rest of Regional Queensland (median age 39 vs 41). Property ownership data shows 44% of property owners in Townsville City have a mortgage.
2,945
Population
$2,013 per week
Median household income
39 years
Median age
Renters
Most residents
Families
Most households
02 9333 33...
12-18 Palmer Street
Townsville City, QLD 4810
CBRE - HotelsLevel 21, 363 George Street
SYDNEY, NSW 2000
SYDNEY, NSW 2000
Contact Agency
Similar properties
Other properties you might be interested in based on the location and property type you are looking at.
Contact Agent
72-74 The Strand,North Ward, QLD 4810 1694 m²Hotel, Motel & Leisure • Shops & Retail • Other
$1,850,000
108 Flinders Street,Townsville City, QLD 4810 2039 m²Hotel, Motel & Leisure • Offices • Development Sites & Land
$1,800,000
70 The Strand,North Ward, QLD 4810 1012 m²Hotel, Motel & Leisure • Development Sites & Land