Best 35 star motel investment opportunity on the coast
Best 3.5 star motel investment opportunity on the coast
| 25 March 2019
CBRE Hotels has been appointed to sell the Best Western Zebra Motel in Coffs Harbour – the coastal city’s 3.5 star largest leasehold motel.
Situated at 27 Grafton Street, on the edge of Coffs Harbour’s CBD, the Best Western Zebra Hotel consists of 46 guest rooms across two levels, 50-seat dining and bar area, two-bedroom manager’s residence and onsite parking for 41 vehicles.
CBRE’s James Carrick has been appointed to sell the leasehold on behalf of a local independent operator.
“The current operator has invested significantly in both internal and external improvements, which has been pivotal to the property’s strong patronage and upward income trajectory,” Mr Carrick said.
“The opportunity to operate a quality venue unrivalled in the 3.5 – 4 star market and underpinned by the Best Western brand is expected to ignite strong competitive interest. It is perfectly positioned for an experienced team to reap the benefits of the healthy earning opportunity and coastal lifestyle, with scope for investment style syndicate or funds management group to run under a management model.”
The motel, which is located on a 3,296sqm landholding, is walking distance to all major CBD amenities.
The leasehold is being offered for sale via Expressions of Interest closing April 18.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.