Premium Waterfront CBD Motel Investment | 15 Year Net Lease + Options to 2050

98 Victoria Parade , Rockhampton City QLD

Property Highlights

4 x 5 year options to 2050
Substantial CBD landholding
Strong tenant commitment

Description

Burgess Rawson & Commercial East Coast Investments are pleased to offer to the market 98 Victoria Parade, Rockhampton QLD for sale via Expressions of Interest closing Wednesday 24 April 2024 at 3pm AEST (if not sold prior).

This opportunity has the following key investment highlights:

+ Fifteen (15) year net lease to September 2030
+ Four (4) further five (5) year options to September 2050
+ Motel 98: ’boutique’ 4-star motel with a renowned reputation and prime waterfront location in Rockhampton’s commercial and entertainment precinct
+ Favourable annual CPI reviews with ratchet provisions, ensuring the rent cannot reduce
+ The tenant pays all usual outgoings excluding land tax
+ 1,349sqm* NLA freehold motel featuring 28 newly renovated bedrooms of various configurations, high-quality amenities, resort-style pool, adjoining managers residence and substantial on-site parking
+ Substantial 3,040sqm* landholding with favourable High Density Residential Zoning, offering future redevelopment opportunities of the site with development permissible up to 12 storeys (STCA)
+ Additional customer traffic provided by the exquisite ‘Skyring’ cocktail bar & restaurant, an established dining venue with a delightful blend of indoor and outdoor dining
+ Strategically located within proximity of Rockhampton’s major amenities including City Centre Plaza (320m*), Rockhampton Base Hospital (1.5km*) & Rockhampton Airport (3km*)
+ Rockhampton City: logistics hub of central Queensland known for its diverse economy underpinned by resource and agricultural industries with a population forecast to exceed 98,000 by 2041
+ Net Income: $394,394 pa* + GST

For Sale via Expressions of Interest Closing Wednesday 24 April 2024 at 3pm AEST (if not sold prior).

Please contact the exclusively appointed team for more information.

*Approx.

Property Details

Listing
Sale
Current Tenant
Tenanted
Occupancy Type
Hotel/Bar
Land Size
3,040 SQM
Building Area
1,349 SQM

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