12-18 Palmer Street,
Townsville City, QLD 4810

TRIPLE NET LEASE HOTEL OPPORTUNITY

- 25 year triple net lease until 2041 to an established operator with options to 2051 with 1 year rental bond held by the landlord.
- Substantial tenant (Central Apartment Group) - with 9 major east coast hotels.
- Four storey 3.5 star hotel - 118 rooms plus restaurant / function area and 50 car spaces.
- Large 3,127sqm* block with potential to expand and a GFA of the hotel 4,350sqm*.
- Modern building constructed in 2006 for $24m*, offering substantial depreciation benefits.
- Strong town centre location with dual street frontage, one to Palmer Street - Townsville's main hotel precinct with easy access to nightlife and The Strand.
- Easily managed single tenant investment - net income $850,000* p.a. plus GST (8.5% yield anticipated), with annual 2.5% rent increases.
- Townsville is a services hub of Queensland, including agriculture and resources, and is a major tourist centre with the Great Barrier Reef, Magnetic Island and Townsville Museum.

*all areas and figures approx. only

AUCTION: Tuesday 28 June at 11:00am AEST at Doltone House Hyde Park, 181 Elizabeth Street, Sydney (Unless Sold Prior)