Greenwich Entire Building/196 Pacific HIGHWAY
St Leonards Opportunity - $1.25m Net Nett Return on 10 Year Lease or VP - Your Choice?
Deans Property is delighted to exclusively bring to the market the Freehold and Going Concern interest of Hotel St Leonards and Greenwich Inn. The two boutique 3.5 and 4-star Hotels are situated in a prime Lower North Shore location and have been held by the current owner for 32 Years.
This is a fantastic opportunity for an astute Investor or Owner Operator to capitalise on the operations or take up the strong lease terms available. Hotel St Leonards and Greenwich Inn provides 36 boutique style ensuite rooms in total including staff rooms and parking for 13 cars. Located in one of Australia’s prominent medical precincts. The property offers prospective investors an excellent opportunity to purchase a high-yielding hotel investment with strong future growth and security fundamentals. The Sydney accommodation sector continues to be one of the strongest, most robust markets in Asia pacific with a long history of stability and growth.
Key investment highlights:
- Recently renovated and available with vacant possession, or
- Exceptional Lease terms in place from an experienced operator
- $1.25M nett rental per annum return
- 10 Years
- 3% or CPI whichever is greater
- Demolition clause after 5 years
- 6-month cash bond held by the Landlord
- $208k per annum from the Restaurant sub lessee
- A total of 13 car spaces
- Located in a prominent medical precinct with limited direct competitors
- Opposite North Sydney TAFE, 5 minutes walk to North Shore Private Hospital & Public Hospital
- Strong revenue stream with excellent potential for further growth as the Hospital / medical precinct expands its range of services
- Considerable existing and growing corporate demand drivers from recent building developments such as Foxtel
- A short stroll to St Leonards Railway Station, City and Macquarie Bus Stops and 20 mins to the Crows Nest Metro station now under construction
The Hotels are being offered For Sale by Expressions of Interest, closing Thursday 28th November 5pm 2019. For further information and/or to arrange an inspection, interested parties are invited to contact the exclusive selling agents from Deans Property.