FULLY REFURBISHED MELBOURNE QUEST LEASEHOLD PRICED TO SELL! | Resort Brokers ID : LH007502
$5,889,000
Hotel hospitality, Bundoora VIC
The immensely profitable, award-winning, 4.5-star Quest Bundoora, only 20km from Melbourne Tullamarine Airport is being sold with fully completed landlord capital works and new FFE.
Offered with a long 30-year lease and a revised six per cent rent reduction, this incredible property is not only priced to sell, the incoming operator has the advantage of all the hard work having already been undertaken.
Showing a net profit of $1,471,777 this is a prime investment for the astute buyer looking to enter the premium Melbourne market under the quality, prestigious Quest brand.
- Exceptional Melbourne 4.5-star property in prime location
- Operated under the prestigious Quest Apartment Hotels brand
- Long-standing relationship with key corporate clients
- Recently revised six per cent rent reduction
- Long tenure of 30 years
- 71 serviced apartments +five separate townhouses
- Ample upside in revenue with enhanced projected figures
- Property inspections are by appointment only
Date updated: 28 Apr 2024 23:00:03
More Information
- Total Purchase Price: $5,889,000
- Net Income: $ 1,471,777
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 0
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: undisclosed
This is the approximate number of years the business' revenue would pay for the business component.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Are there any set office hours stipulated in the contract?
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?