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Hotel/Leisure For Sale found in NORTHERN SUBURBS (METROPOLITAN), WA

EXPRESSIONS OF INTEREST - CASH IN ON COMING BOOM

Hotel/Leisure | Development/Land

60 room Hotel with supporting services on a 4517 square metre site. All zoned R160.
In just the last weeks, the height limit on this site has been increased to 14 floors.
This would allow the new development as depicted.
Leaving the existing Hotel operating with a very profitable Bar and accommodation, two more towers in two stages can be added.
Fiestly a 60 apartment tower is proposed which can be sold off the plan to create cash flow.
The second stage would involve a tower with up to 220 rooms, being 3.5 star.
Scarborough has a shortage of reasonably priced rooms. The new plans offer a larger bar with an up market coffee house and bistro.
Hastings Street has a large number of apartments and a coffee house would experience a welcome monopoly.
There are also plans for a large conference centre to be added to the folio.
As the building area is already licenced, development would not be subject to the usual inevitable delays.
It is understood that our kind of proposal would be viewed favourably by the MRA however their approval must be sought by the buyer.
The site has the added bonus of a road and walkway on its northern boundary allowing easy access to West Coast Highway and beach side which is 600 metres away. The site is off the Highway so it is not subject to the constant noise of the traffic on West Coast Highway or the constant wind. sand and noise of the beach front.

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Price: EXPRESSIONS OF INTERESTED    Building: 590m²    Land: 4513m²    Occupancy: Vacant

Suburb Summary -

Below you will find the average advertised Sale Price, Rent & Yield for this suburb.

* Excludes, where applicable, GST, outgoings and incentives. Values calculated based on the prices advertised by the agencies that list on Commercial Property Guide.
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