Comprising 37 strata titled lots boasting a yearly rent of $729,349, Gladstone Downtown Central presents an outstanding opportunity to own the freehold passive of a blue-chip accommodation asset ready to capitalise on the Central Queensland port city's established appeal as a tourist and business destination.
The incoming owner will enjoy the security of having a first-rate tenant in place in the form of Central Apartment Group, one of Australia's leading privately owned hotel companies.
Central Apartment Group only recently renewed its 5-year lease in July 2023. The lease expires in July 2028 with three further 5-year options to renew, which conceivably extends this premium tenant's lease to 2043. The hotel is trading well, which will benefit the owner by way of a top-up based on 42.5 per cent of the gross accommodation revenue.
In addition to having the security of a stable tenant, the property is strata titled giving the incoming owner the ability to sell down individual units to benefit from local housing demand should they see fit and reduce rent accordingly.
Astute investors should be quick to consider this exceptional freehold passive investment in the vibrant regional city of Gladstone.
- Central location, walking distance to business/leisure precincts
- Stable, first-rate tenant in place until at least 2028 and conceivably 2043 if options renewed
- 37 strata titled lots incorporating reception, conference room, ranging from studios to three-bedroom apartments
- High annual rent of $729,349
- Hotel is trading well to benefit from a top-up based on 42.5 per cent of the gross accommodation revenue
- Building less than 15 years old
- No large-scale works under consideration until 2028
- Conference facilities accommodating 40 delegates attract corporate trade
- Property inspections are by appointment only
