Bounce Hotel - SOLD

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Sold for 18,300,000 AUD Date of Sale: June 2015
Rooms: 35
Price Per Room: 522,857 AUD
Property Id : 30408

CBRE Hotels has been retained as exclusive agents in relation to the sale of the Bounce Backpackers, Sydney. The ‘Bounce Hotel’ is located at 28 Chalmers Street, Surry Hills, is a five (5) level premises held on one Title currently configured as a backpacker establishment with a total of 190 beds.

It includes a ground floor tavern/bar area, reception area, accommodation over the upper three (3) floors with guest kitchen facilities and additional common areas with outdoor entertainment areas to the top floor. The top floor terrace area also includes fantastic views across the Sydney CBD.

The property has undergone extensive renovation between 2008 and 2010 to accommodate the current ‘5 star’ backpacker establishment.

The ‘Bounce Hotel’ is located along Chalmers Street opposite the Central Railway Station, and within walking distance to the southern end of the Sydney CBD. The Sydney GPO is approximately two (2) kilometres to the north.

The bar/restaurant located on the ground level consisting of approximately 290m² has been leased and generates an annual rental of approximately $220,000 per annum gross (inclusive of recoveries), providing a passive income stream that complements the thriving and award winning accommodation business.

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