2590BF - Freehold Backpackers with Development Potential

FREEHOLD $2,900,000

2,833 m2

Overlooking the Marina and CBD of Townsville.
Functioning 100 room backpackers/ budget accommodation venue.
Large commercial kitchen, two laundries, four shared bathrooms and huge reception area.
Rooftop pool and entertainment area.
26 onsite carparks (some undercover), plenty of on-street parking.
Onsite Restaurant currently leased to external operator for $1,100 per week.
3 bedroom Manager's residence with private balcony on separate wing of building.
Dual street frontage and 2,833m site provides for future development potential.
Increasing occupancy and profits, easy to manage facility.
Nil grounds work as no gardens/lawn areas.

The long-term owners have decided to move on and offer their business for immediate sale. This is the largest offering of its type in the area and could be further marketed/ developed to increase returns. Notwithstanding the current operation as a backpackers and budget workers accommodation there is true potential with government funding to turn it into low cost, budget accommodation. This form of service is greatly needed in the area and with the right operators could be a gold mine.

Alternately, the site has definite development potential as it is zoned for high density residential and there is a high rise building next door.

Whatever your position, this is an ideal land bank opportunity with definite future growth.

Call now as opportunities in growing economies don't last long.

Net Profit: $291,474 for 2018/19

Contact Tony Johnson from Tourism Brokers for further information or to arrange an inspection.

Property ID: 2590BF (quote when enquiring)

Location: The North Queensland region centres on the cities of Townsville and Thuringowa with a combined population of 165,000 and is the heart of North Queensland. Townsville is considered the capital of North Queensland, being the fourth largest city in the state and largest outside the metropolitan region, as it has many tourist attractions, wonderful shopping, magnificent restaurants and nightlife and a relaxed lifestyle.

The Strand is the perfect place to unwind for any holiday to Townsville. The popular foreshore stretches for 2.5km and offers views across Cleveland Bay to Magnetic Island. Some of the best restaurants, pubs, bars and nightclubs are located on the Strand as if offers entertainment for any time of the day. Its inclusiveness of people of various ages and interests, visual attractiveness, proximity to the sea and city, cleanliness and sense of safety, and range recreational and social opportunities available to the community are all attributes. On an average weekend over 10,000 people visit the Strand to take advantage of the amenities available for use by the public. For a relaxing day out or a long-secluded walk on the beach, Townsville’s five northern beaches 60 kilometres north of the city are the ideal getaway.

Price	FREEHOLD $2,900,000
Location	Townsville City
Property ID	2590BF
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