44-46 Allen Street, SOUTH TOWNSVILLE QLD 4810
$990,000 (under offer)
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- 9 Jan 2017
Iconic Commonwealth Hotel - South Townsville
Located on the corner of Allen & Macrossan Street the Commonwealth Hotel is positioned on a 1,050m2 subdivided site (STCA). The Hotel's facilities comprise of: one (1) bar, bistro, function room/snooker lounge with Fox Sports & Keno facilities, garden bar and 20 accommodation rooms located on the first floor.
Land Area: 1050m2 approx Subdivided Site
Building Area: 1306m2 approx
Tenure: Freehold Going Concern
The Comm bar is positioned at the front of the hotel that offers the prominent corner location and provides easy access to the garden bar, snooker lounge, kitchen and dining room. The patrons are provided with direct access from multiple entry points from the hotel's frontage on Allen Street and Macrossan Street. The bar is fitted with a glycol beer reticulation system, a cold room and multiple glass door fridge displays units. There is no fixed contracts to any companies and currently has 8 taps within the Comm Bar.
The bistro area provides indoor table seating for approximately 40 internal patrons and up to 140 covers/meals for larger functions in the garden bar. The kitchen is equipped to a commercial standard and is positioned at the rear of the Hotel.
The snooker / lounge area is centrally located within the Hotel with direct access to the public bar and provides an open area for hosting live bands or private functions.
The hotel currently has Keno within the hotel along with Fox Sports for viewing sports and racing for the patron's enjoyment.
A value add opportunity exists by providing Pokies, TAB and detached bottle shop subject to relevant approvals.
The Commonwealth Hotel has first floor accommodation of 20 rooms currently at approx 80% occupancy. Most rooms have been recently refurbished with air conditioners, new mattresses, linen, painting and offers direct access to the verandah for cool prominent southerly sea breezes.
The Hotel was built in 1901 and is listed on Townsville Council's Heritage Register. The property has been well maintained by the present owners to date. The vendor will subdivide the property to 1,050m2 as per the plan attached within the photo gallery. (STCA)
The Commonwealth Hotel is being offered for sale at $990,000 plus GST plus Stock at Value and will be sold as a freehold going concern property.
For further information please contact the agents below for a detailed information memorandum.
Adrian Pascoe - Ray White Commercial Townsville
Mob: 0417 622 240 / firstname.lastname@example.org
Troy Townsend - Ray White Commercial Townsville
Mob 0407 213 887 / email@example.com
1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information
44-46 Allen Street SOUTH TOWNSVILLE