SOLID OPPORTUNITY IN RESOURCE RICH WA - $15billion gas plant planned - Seller wishes to divest his Australian Assets
This property opened fuully in 2006 and was operated from day one by a major hotel group. The property has suffered from poor management since the beginning and to date has not reached full potential. The Current Owner is based in Indonesia and is keen to divest his interests. The original managers purchased the Restaurant and Bar which they still own and is available for Purchase. These faciliites is currently not operating, however arev available for purchase. I March 2011 the operators took on a Mecure Grand Marketing Franchise, backed by the ACCOR Hotel Group. Intending purchasers can continue with this arrangement or take it over without.
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Property Facts |
| Location: |
Cable Beach Broome |
Reference Number: |
75 |
| Building Type: |
Villa and Apartment |
Agreement: |
25 |
| Build Year: |
2006 |
Commenced: |
2006 |
| Rating: |
4.5 star |
Years Remaining: |
19 |
| Total Apartments: |
167 |
Net Profit: |
$914,000 |
| Letting Pool: |
145 |
Managers Unit Price: |
$350,000 |
| Owner Occupiers: |
Not Permitted |
Management Rights Price: |
$2,742,000 |
| Lockups |
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Total Price: |
$3,092,000 |
| Outside Agents: |
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Salary: |
$215,000 |
| Other: |
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| Managers Unit: |
2 bedroom apartment |
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| Number of Bedrooms: |
2 |
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| Number of Bathrooms: |
2 |
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| Carparks: |
2 |
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| Storage: |
Yes |
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| Pets: |
Manager only |
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| Office: |
Large Reception and two back offices & storage on title |
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| Other: |
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| Facilities: |
Heated Pool, Spa, Lap Pools BBQ Area , Onsite Day Spa |
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Agent Details |
Listed by: Glenn Millar
Mobile: 0412 277 804
Phone: (07) 3878 3999
Email: Email Agent
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The Resort is the second largest resort in Broome and is located in the Cable Beach area, world renown for its beaches and culture being a former pearling port. With the $15m Woodside/Shell Gas project due to commence in the next year demand for accommodation in Broome will be strong.
We are offering this at a 3 times multiplier on a net income of $914,000 which could be greatly increased as this has been on an occupany of 39% whereas other properties in the area have been achieving around 60-70% |
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Photo GalleryClick to Enlarge Images |
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This listing has been viewed 426 times.
From the 1st of January 2010 a copy of the Sustainability Declaration for this property will be available from the Agent.
Disclaimer
Every care has been taken to verify the accuracy of the information contained in this document, including photo's and artists impressions , but no warranty (either express or implied) is given by the agent as to the accuracy of it's contents. Proposed purchasers should conduct their own investigations into all matters relating to the proposed purchase of the real estate and associated management rights business. |
