CBRE Hotels as the vendor’s exclusive agent is pleased to provide you with an opportunity to consider the purchase of Best Western Tall Trees Canberra, located in Ainslie, Canberra, ACT.
The Best Western Tall Trees, Canberra is a purpose built 4 star AAA rated accommodation hotel asset. The property comprises:
• 78 guest rooms;
• Dining / function room;
• Commercial kitchen and laundry;
• Two bedroom manager’s residence;
• Extensive car parking with capacity for approximately 71 vehicles;
• Recently refurbished rooms and common areas.
Best Western Tall Trees, Canberra is situated on 5,797 square metres of crown leased land. Currently managed in house with a franchise agreement in place with Best Western, the arrangement is annually renewable in March, with Vacant Possession available.
The incoming investor will be impressed with the substantial renovation that the property has undergone. All rooms in the main building have new beds, carpet, furnishings, lights, and bathrooms. The common areas including reception and dining/function room have also undergone a recent refurbishment ensuring the asset presents in pristine condition.
Hotels in Canberra have been tightly held for many years and have enjoyed strong consistent performance on the back of a buoyant local economy and calendar of events and little to no new competing supply entering the market. With the flexibility of Vacant Possession of the management on entry, an option whether to continue the franchise agreement in March, this certainly is a rare offering in the Canberra marketplace.