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109 Carrington Street Adelaide SA 5000

  • Hotel / Leisure
  • 695 m²
  • For Sale, $3,250,000 (excl. GST)

HOSTEL 109 FLASHPACKERS. FREEHOLD BUSINESS WITH PRIME COMMERCIAL PROPERTY

Phone enquiries - please quote property ID 20602

Price to sell. Seeking offers over $3.25 million.
The price of this business has been recently increased by the vendor as a result of improved trading outlook and maintenance of the principle of pricing based on ROI.

Freehold business of Hostel 109 Flashpackers including Goodwill, Plant & Equipment, Stock and land & buildings at 3/111 and 4/109 Carrington Street, Adelaide, SA.

THE FREEHOLD
The total freehold property comprises approximately 695m2 of medium to high quality CBD property in 2 Strata Units with 9m of ground floor street frontage and rear lane access.
The freehold properties have the additional benefit of 43.9 kW of solar electricity generation.

THE LOCATION:
Carrington Street is in the south-eastern sector of the centre of Adelaide, South Australia. It runs east-west, from East Terrace to King William Street, blocked at Hutt Street and crossing Pulteney Street at Hurtle Square.
The property is:-
* 200m from new Calvary hospital (due to open January 2020)
* Close to Victoria Square
* Bus stops/trams and train station all within 5 minutes
* 5 minutes walk to central market
* Close to the many restaurants, cafes and shopping

THE BUSINESS:
A very successful business licensed for 68 Persons with high occupancy and a range of accommodation options.

Hostel 109 Flashpackers was established in 1980. Current owners of 6.5 years have substantially upgraded the premises and business with redevelopment of the Reception to provide an attractive and welcoming space and by incorporating the hotel standard rooms on the ground floor with a consequent increase in both revenue and profit.

Hostel 109 Flashpackers is currently configured to accommodate 55 persons in 27 rooms. The hostel offers a range of accommodation including male, female and mixed gender dorms and single, twin and double private rooms with shared bathroom, to the newly established hotel standard queen rooms with private bathrooms. All rooms are equipped with reverse cycled air-conditioning.

Hostel 109 Flashpackers also offers an in-house travel and tour sales advisory receiving commissions on sales in reception. Excellent reviews from many industry websites, along with word of mouth referrals, contribute to consistently high occupancy rates. Hostel 109 Flashpackers is consistently rated in the Top 3 hostels in Adelaide.

POTENTIAL FOR GROWTH
South Australian tourism is booming. Visitors to South Australia continue to increase year on year. On the basis of data from STR, October 2019 was a record breaking month for hotels in the city. The current owners have been moving the business up-market to a slightly older Flashpacker demographic who are more willing to spend at higher rates for better quality accommodation. There remains considerable opportunity to further improve the standard of accommodation in the hostel section of the business and further capitalize on the Flashpacker section of the market.

Other opportunities present themselves in the near to medium term, with the soon to be opened 340 bed Calvary Hospital, just 200 metres from Hostel 109 Flashpackers expected to increase the number of people staying at the Hostel while undergoing procedures or supporting relatives who are doing so.

INCLUSIONS:-
Freehold titles, premises, business, websites and domain names, all marketing materials, along with plant, equipment, furniture etc. Full financials and assets register can be provided to genuine interested parties.

Enquire today to receive a full business memorandum. (Note: a non-disclosure/confidentially agreement will need to be signed prior to receiving further information.)

DISCLAIMER No Agent Business (www.noagentbusiness.com.au) is an Australian For Sale By Owner website operating since 1999. We proudly assist commercial property owners who are looking to sell or lease their own commercial property without paying any real estate commission. While every care has been taken to verify the accuracy of the details in this advertisement, the correctness cannot be guaranteed.

Property Highlights

Property ID2014855220
Floor Area695 m²
Land AreaAsk Agent
ParkingOn site parking available
Building TypePartial building
Annual ReturnAsk Agent
AvailabilityVacant
Category
Last updated  2 Feb 2020
Map for 109 Carrington Street Adelaide SA 5000
Map for 109 Carrington Street Adelaide SA 5000109 Carrington Street Adelaide SA 5000
No Agent Property
Suite 1a, 608 Hawthorn Rd Brighton East VIC 3187

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