This 3.5 star three storey brick building has recently been refurbished and with excellent onsite parking. The property consists of 36 strata-titled units , including a managers residence with an office attached.
Built approximately 22 years ago, construction is of double brick and concrete floors which provide excellent sound proof throughout the building.
The unit sizes range from 20m2 to 34m2 providing bunk beds for between 2 and 4 guests each. The property would provide excellent cash flow to an owner operator or an astute investor can lease the property to motel operator, backpacker hostel or other short to medium term accommodation provider.
Buranda Lodge is in a perfect location for a motel. It is just 5 minutes walk to Centro Shopping Centre and the Princess Alexandra Hospital, one Queenslands largest hospitals. Train and bus terminals are within walking distance. It is also just a short drive to Brisbane CBD, Southbank Parklands and the world famous Gabba Sport Grounds.
The motel has pedestrian access to Ipswich Road and vehicle access via O'Keeffe Street.
The property is currently zoned Buranda core sub precinct in the Eastern Corridor Neighbourhood Plan which allows development of up to 12 stories.
Woollongabba is recognized as a fast growing city fringe suburb which currently has many major developments and many more in the planning stage.