Quest Sale presents an incredible opening to secure a first-rate freehold passive hotel investment, well under replacement value, in the economically vibrant Gippsland region of Victoria.
With a yearly net rent of $862,632, Quest Sale enjoys the immense benefit of being part of Quest Apartment Hotels, Australia's hugely successful hotel franchise.
The incoming owner will have the security of a blue-chip tenant in the form of a Quest franchisee, who operates the hotel in line with Quest's highly successful business format franchise system.
A long-term lease in place until 2047 (3 years remaining plus 4 x 5-year options) provides the incoming owner with long-term stability.
Comprising 35 apartments, opening to 53 keys, Quest Sale is strategically located in the town of Sale, a major administrative centre and service hub in Gippsland, 215 km east of Melbourne.
Home to over 14,300 residents, and many more itinerant workers, Sale enjoys a strong economic base that future proofs the city's long-term prosperity.
Gippsland is a high growth region, and a lynchpin for Victoria's agricultural and energy industries. The Victorian Government has designated Gippsland as one of six Renewable Energy Zones that will supercharge the state's shift from carbon-intensive electricity generation to more sustainable sources.
Quest Sale enjoys exceptional occupancy with repeat clientele from major corporates including energy giants ExxonMobil and Star of the South, and the Royal Australian Air Force.
To further capitalise on corporate visitation to this bustling regional centre, Quest Sale has a 60-seat conference room which broadens its appeal to the business market.
Astute investors should be quick to consider this exceptional opportunity to own a rock-solid accommodation asset in Victoria's thriving Gippsland region.
- Freehold passive investment of Quest Sale
- High annual net rent of over $862,000
- Net rent growing with fixed 3% annual increases and market rent review
- Returning 7% yield
- Gippsland location, under 3 hrs to Melbourne and 45 mins to Traralgon
- Regional economic powerhouse supporting keys industries of agriculture and energy
- 53 keys from studios to 3-bedroom apartments
- Wide array of room sizes caters to business/leisure, long/short stays
- Long-term lease in place until 2047 (3 years remaining plus 4 x 5-year options)
- Strength of Quest brand, Australia's leading apartment hotel brand
- Exceptionally high occupancy with high calibre corporate clientele
- 60-seat conference facility attracts business trade
