HTL Property has been appointed to bring to market McNevin’s Logan Park Motel, strategically positioned in Loganholme, within the booming Brisbane-Gold Coast corridor.
The freehold going concern motel currently operates 23 well-appointed guest rooms which are complemented by quality facilities including a 50 seat restaurant with cocktail bar and lounge, a resort-style swimming pool with spa, tennis court and pavilion with function stage and lawns.
The popular motel runs at consistently high occupancy levels driven by a broad customer base that comprises both corporate and tourist trade, and is forecast to return a $1.2 million Gross Profit in FYE 2023. The motel sits on a substantial 7,499sqm landholding and holds an existing DA approval to add further rooms to the inventory by expanding over the surplus land, thereby capitalising on the strong trade and demand. The DA provides for 34 additional guest rooms plus 50 beds in a dormitory-style bunkhouse as well as new central facilities and larger, multi-purpose function facilities.
The Property has undergone regular refurbishments over the years and presents very well with minimal required CAPEX in the short-term.
Loganholme is conveniently positioned midway between Queensland’s capital city of Brisbane and the famous Gold Coast. This is an already booming growth corridor featuring the iconic theme parks and major business, commercial and industrial hubs as well as a number of major sporting and entertainment venues.
Investment Highlights include:
- A very popular and strong-performing resort-style motel
- Strategically located in the booming growth corridor between Brisbane and the Gold Coast
- Close to theme parks, sporting venues and major business precincts
- 23 oversized rooms plus restaurant, pool, spa, and tennis courts
- $1.2m Gross Profit and $620k NOP annualised estimate for FYE23
- 7,499 sqm landholding located in a booming growth corridor
- DA in place for a further 34 room and 50 bed bunkhouse expansion to capitalize upon the huge demand