BUDGET HOTEL/ LAND DEVELOPMENT / LEISURE
18 Bedrooms – 8 Full Bathrooms – 9 Separate showers – 1 WC
Positioned in one of Sydney’s prized suburb of Potts Point/Kings cross, this iconic Budget Hotel has been refurbished and is leased to a accommodation operator and being sold with a secure 5 plus 5 year lease, enjoying a handy location and within close proximity to the CBD and Sydney’s Eastern Suburbs.
The property is positioned in the heart of Darlinghurst Road, with famed bars, eateries, boutique hotels, shopping and luxury apartments all at its doorstep.
Set amongst newly built residential developments, the commercial buildings are being transformed from its former past with proposals for future re-development, The strip is recognised as a vibrant cultural & entertainment hub in Sydney and has been marked and rumoured to be known as the new Soho of Sydney in the very near future.
Property overview and development potential:
Strata titled 18 rooms only 3 lots on title.
4 Levels of usable floor space
Strata Levies include building insurance for Public liability and potential loss of income insurance.
All rooms feature air conditioning, 8 rooms with full bathrooms, 9 rooms have showers, 3 common WC’S.
First level reception area with lounge.
Zoned – B2 Local Centre, Currently has Developers Interest on most of the strip.
Floor space – 313m2
Height limit 22m | FSR – 3:1
Secure tenant paying $194,249.95 PLUS GST net per annum with 5% increases annually
Located opposite Kings Cross Station and bus stops
Ideal investment with future re-development potential.