Address available on request,
Joondalup, WA 6027
Hotel, Motel & Leisure
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90-key apartment hotel in Perth's northern growth corridor netting over $540k | Resort Brokers ID : LH007445
This modern and bright Quest apartment hotel is now being released to the market, having been opened in November 2019 in the northern growth corridor of Perth.
Comprising a 90-key, 6-level apartment hotel specifically built to Quest specifications, this property has rapidly gained market share, despite Covid-19 restrictions, and is now generating revenues above $4,000,000 per annum, and net profits over $540,000.
The 2022 hotel occupancy was above 67% however the business is rapidly outpacing this in the 2023 financial year, with current 2023 occupancy sitting at 88% so the future is looking very bright for this Quest Hotel.
There is a long lease in place for an initial 15-year term, with three further five year options, and is currently in its third year of the initial term. Market rent reviews are staged every five years.
- Newly constructed modern hotel
- Part of the prestigious Quest brand
- Long 27 year lease available
- Excellent location in large satellite city
- Strong growth metrics
- 90 keys with diverse configuration options
- Property inspections are by appointment only
Comprising a 90-key, 6-level apartment hotel specifically built to Quest specifications, this property has rapidly gained market share, despite Covid-19 restrictions, and is now generating revenues above $4,000,000 per annum, and net profits over $540,000.
The 2022 hotel occupancy was above 67% however the business is rapidly outpacing this in the 2023 financial year, with current 2023 occupancy sitting at 88% so the future is looking very bright for this Quest Hotel.
There is a long lease in place for an initial 15-year term, with three further five year options, and is currently in its third year of the initial term. Market rent reviews are staged every five years.
- Newly constructed modern hotel
- Part of the prestigious Quest brand
- Long 27 year lease available
- Excellent location in large satellite city
- Strong growth metrics
- 90 keys with diverse configuration options
- Property inspections are by appointment only
Additional information
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Property ID: 504184243Last Updated: 30 Jun 2024
04331491...![realcommercial.com.au logo](/listing-ui-assets/img/rca-logomark.svg)
Address available on request
Joondalup, WA 6027
ResortBrokers - WEST ENDPO BOX 5004
WEST END, QLD 4101
WEST END, QLD 4101
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