12-18 Palmer Street Townsville City QLD 4810

New 25 year lease to 2041 to established operator.
Options to 2051.
Substantial tenant with 9 major east coast hotels.
1 years rent guarantee held by Landlord.
118 rooms plus restaurant and function area.
50 car spaces.
Large 3,127 sqm block with potential to expand.
Four storey 3.5 Star hotel 4,350 sqm.
Modern building costing $24m to construct in 2006.
Substantial depreciation benefits.
Strong town centre location with dual street frontage.
IMPORTANT- rare triple net lease with tenant paying all outgoings, as per lease.
Annual 2.5% rent increases (net income $1,060,000 in 2026, $1,537,000 in 2041).
Easily managed single tenant investment.
Net Income $850,000 pa + GST (8.5% yield anticipated).