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Sold on 18 Oct 2017

23 Mason Street Warragul VIC 3820

  • Hotel / Leisure
  • 1 m²
  • Sold

Securely Leased Hotel Investment

Colliers International in conjunction with Wilson Property Residential Commercial Industrial have been exclusively retained to offer for sale the award winning Mercure Hotel Warragul located at 23 Mason Street, Warragul, Victoria

The Hotel has been developed in 2015 within a mixed use development, with the hotel providing 47 4 star rated accommodation suites along with meeting rooms, ground floor reception, two bedroom managers residence and various shared amenities. The wider development includes a gymnasium, restaurant, medical suites and extensive car parking.

Located within the main commercial precinct of Warragul, the hotel in close proximity to the train station, sports grounds, and Princes Highway (M1. Warragul is the main service centre of the West Gippsland region and is experiencing rapid growth in population in recent years. The location provides convenient access to all surrounding regions and destinations including the nearby Baw Baw National Park, Western Port Bay and Lardner Park.

Securely leased on a 20 year lease term, the hotel is currently returning $570,028 per annum (approx.) with annual CPI increases and further terms beyond the initial lease term. With no direct competition for modern accommodation in the town, Mercure Warragul continues to perform strongly, and will be a secure investment for many years to come.

For Sale via Expression of Interest closing Thursday 12th October at 4pm unless sold prior.

EXPRESSION OF INTEREST

Closing date and time12/10/2017 00:00
Recipient nameGuy Wells
Delivery addressMelbourne CBD

Property Highlights

Property ID2013834169
Date Sold18 Oct 2017
Floor Area1 m²
Land AreaAsk Agent
ParkingOn site parking available
Category
Last updated  6 Sep 2017
Map for 23 Mason Street Warragul VIC 3820
Colliers International (Victoria)
Level 30 367 Collins Street Melbourne VIC 3000

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