Strong and Consistent Earner, in the heart of Australia's Banana Food Bowl.
- Easily run owner operated complex catering for Banana Workers all year round.
- Super high yield accommodation property, 15.7% if run owner operated and 14.5% if run under management.
- Consistent long-term income stream, with 94% of all Australian Bananas grown within a 75 km radius region of this aptly named Banana Barracks.
- Australian Banana Industry is worth $1.4B and employs a total of 18,000 employees needing accommodation each and every season. About 16,500 employees work within a 75 km radius of the property.
- Further potential for income growth, by using this as a base for regional expansion.
Tourism Brokers is delighted to present for sale the Banana Barracks as Private Treaty.
This is an outstanding opportunity to secure a super high yield accommodation property licensed currently to accommodate 120 beds, with further potential for income growth.
- Currently the property has opportunity to add 40 beds, through the removal of the Rafters Night Club, refurbishing the area and increasing the total beds to 160, and adding a further $300,000 in Gross Revenue to the business.
Investment highlights include:
- Consistent income stream through long-term "workers accommodation", Tully Banana season runs through January to December requiring workers from pickers, sorters and packers.
- A total of 16,500 employees needing accommodation, of which 94% of these within a 75 km radius of Tully.
- Accommodation Standards and close monitoring from Government oversee the Overseas Worker Programs and Seasonal workers licence provides significant barrier of entry for other competitors.
- Substantial upside in income through laundry, vending machine income and mobile phone accessory sales.
- Positioned to benefit from the ever-growing popularity of banana nutrition. Forecast Owner Operated Earnings $619,641 for 2023/24 or place a Manager in for $85,000 plus Accommodation.
Net Profit: $619,641 for 2022/24 (11 months)
Contact Antonio Curulli from Tourism Brokers for further information or to arrange an inspection.
Property ID: 2733BF (quote when enquiring)
Property Code: 4332
