Iconic Hotel Investment with enormous value add opportunity
Picture perfect coastal hotel with views
Currently Leased to Allogio Hotels
Net income $546,363 pa (plus GST)
Known as the Newcastle Beach Hotel, the property presents as an incredible opportunity to purchase in a premium coastal position with amazing views over the city and Pacific Ocean.
The site offers the potential for multiple opportunities including to redesign and construct a prestigious boutique apartment building or hotel in the famous Newcastle beach locale (STCA). Strategically situated in Newcastle's vibrant east end, the property is positioned to benefit from the rapidly growing demand from tourism in this part of the city.
A five level building incorporating 47 hotel rooms, three function rooms, a commercial kitchen, restaurant and a three bedroom rooftop residence / bar opportunity, together with secure basement parking.
For Sale by Expressions of Interest closing 19 August 2021 at 4pm
