The Mon Komo Hotel, along with 33 Strata Titled Short Stay Apartments, are being offered for sale by exclusive marketing agents Michael Simpson and Leon Alaban of Savills.

The apartments form part of the Oaks Mon Komo, with the vendor selling 33 of the total 76 apartments located in the complex, representing 43% of the total lot entitlement.

Managing Director of Hotels at Savills, Michael Simpson, said the luxurious short stay apartments are a well-established business under Oaks.

“The apartments boast occupancy rates of over 80 per cent each year at a very strong average daily rate. It is one of Oaks’ best performing hotels,” Mr Simpson said.

Click here to view the full listing on The Hotel Page.

Providing multiple food and beverage offerings plus gaming facilities to patrons, the Mon Komo Hotel is an established and widely recognised asset throughout South East Queensland.

The offering is currently owned by developer Kyko Group, led by Bill Jenkings, who said the Group has decided to sell the Hotel in order to focus on acquisitions for their future development pipeline.

“Operating Mon Komo Hotel has always really been outside of our core business. We’ve had some great success and accolades, however we feel the timing is right for us for a sale,” Mr Jenkings said.

Set across two levels, the Hotel features four bars including Cabana Bar + Kitchen, Seabrae Bar & Nightclub, Treasure Lounge, plus the function and convention centre.

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Director of Hotels, Leon Alaban, said this is an exciting opportunity for an incoming buyer to secure a hugely popular food and beverage venue which generated revenue in excess of $6.9 million (FY18).

Located between Cabana and Seabrae, The Treasure Lounge gaming room features 21 EGMs with an approval in place to operate up to 40 EGMs.

“The approval provides the incoming purchaser with significant upside, with the potential to acquire the additional 19 operating authorities."

“Astute hospitality operators will identify where immediate profit growth is able to be achieved,” Mr Alaban said.

The Hotel currently operates without an onsite bottleshop, or any of the three detached bottleshop sites it is currently permitted to operate under its commercial liquor licence.

Mr Simpson said this allows the successful buyer the opportunity to further maximise the Hotel’s trading potential.

“We expect that the offering will be sought after by an array of local and interstate hoteliers and strategic property investors,” Mr Simpson said.

Click here to view the full listing on The Hotel Page.

The Mon Komo Hotel and 33 Strata Titled Short Stay Apartments located at 99-101 Marine Parade in Redcliffe are being offered for sale by way of an Expressions of Interest campaign, closing 3pm Friday 28 June 2019.

This is an Elite Property booking.

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