Located in a strategic location in Townsville's premier dining precinct of Palmer Street, this four level, 100-room accommodation complex is an exciting opportunity for prospective buyers.
Boasting a building footprint of around 1,600m² with a total covered area of an impressive 4,800m² and land size of 2,833m², this masonry block, reinforced concrete structure was build in the late 1980s and remains in excellent condition.
Bookended by the high-end accommodation facilities of Solarus and the Crown Hotel, this property is home to the successful Adventurers Backpackers. Constructed to cater to a capacity of 300 guests, there is significant potential with current layout for 233 and licensing allowing for 218 people. Room configuration ranges from single through to 16 room accommodation.
Incorporating a ground level office and reception area, fully equipped communal kitchen, dining and lounge, ample storage and car parking, this property is also home to the popular Masala Indian restaurant.
Levels one and two each consist primarily of accommodation rooms along with guest laundries, large communal amenities and storage areas. Level two features a large swimming pool and BBQ area. Level four is a dedicated two-bedroom manager's residence and outdoor deck area.
Water fronting, with dual street frontages this site is strategically situated on Palmer Street opposite the priority development area.
The strategic location of this site means it set to benefit from a suite of major infrastructure projects planned, or underway, that are being funding by all tiers of government and the private sector.
Palmer Street is widely acknowledged as the epicentre of this retail and restaurant precinct which will enjoy further connectivity with the CBD thanks to increased investment in commercial and residential projects bought on by improved confidence and government investment. Community and civic leaders continue to champion the growth and development of the CBD and surrounding precinct Palmer Street is a key component to the strategic growth of Townsville making this opportunity increasingly unique.
The property is being offered for sale by offers to purchase and all interested parties are invited to submit their interest for the vendor's consideration.
For further information or to arrange and inspection, please contact Angelo Castorina at Colliers.
*Video courtesy of the Townsville City Council YouTube channel
