20 Princess Street - Freehold Investment
Excellent Bundaberg City Freehold Investment Opportunity
Here is a solid Freehold Investment to get you going or add to your portfolio.
The Prince of Wales Hotel was a well known workers pub and part of Bundaberg's early history but in recent years it has been turned into a successful backpackers hostel catering to the high demand for fruit and vegetable pickers and packers.
The building has been renovated and is now a great premises for the backpackers business. Being prominently located at the corner of Scotland and Princess Streets it boast great exposure which helps in maintaing the backpackers turn over.
The hostel is currently operating with 116 beds, it is registered with Council for 121 beds. The fruit and vegetable farming within the area is continually expanding and providing a growing demand for labour which ensures the tenant of this building to continue to build their business.
With a long term lease this commercial investment is solid and will show a great return for the astute investor.Net Return on Investment of 8.3%
$1,750,000.00 GST Exempt
- Excellent Freehold Investment
- Prominent Location at the Corner of Scotland and Princess Streets Bundaberg
- Long Established as Popular Backpacker Hostel
- Currently 116 Beds, Registered for 121
- Fully Approved with Bundaberg Regional Council
- 1,037m2 Land Area
- Zoning: Business or Centre
- High Occupancy Rates
- New Long Term Lease with Options
- Net Return on Investment at the asking price 8.3%