The asset is leased to an existing operator under a master lease arrangement, providing an incoming purchaser with immediate rental income from completion.
A freehold, four-storey 46-key hotel with attic at 56 Sims Avenue is up for sale at a guide price of $29.9 million, which translates to around $650,000 per key.
Comprising 46 guestrooms with ensuite bathrooms, the hotel sits on a site area of approximately 3,172 sq ft with a gross floor area of 10,620 sq ft. The property enjoys approximately 12m of main road frontage, and its corner plot positioning offers strong visibility and excellent branding potential, say joint exclusive marketing agents Cushman & Wakefield and CBRE in an April 22 announcement.
