The freehold going concern of the Harold Park Hotel in the Sydney city fringe suburb of Forest Lodge is for sale through Ben McDonald and John Musca from JLL Hotels and Hospitality Group.
An opportunity to secure a newly refurbished hotel in a high-density residential precinct on the Sydney city fringe is available through JLL Hotels and Hospitality Group.
According to JLL, the freehold going concern of the Harold Park Hotel in Forest Lodge represents a post-renovation trade-up opportunity at a time when businesses are poised to capitalise on increased local demand from residents and commercial neighbours working remotely.
Featuring a trading footprint of more than 900 square metres, the venue includes a beer garden, lift, two car bays on the title, as well as a new kitchen and a licence with 8 GMEs.
At a glance:
Source: JLL Hotels and Hospitality Group
Its location at 70a Ross Street is adjacent to Mirvac's 'Harold Park' development, which houses more than 2,500 residents across 1,3000 apartments.
JLL Hotels and Hospitality Senior Vice President Ben McDonald, who is marketing the property with John Musca, said he expected interest from hoteliers looking to acquire a ‘turn-key’ metropolitan hotel business that just had a $1m refurbishment completed.
"The hotel has limited local competition in a high-density residential precinct and is available to buy now with 10 months delayed settlement," he said.
Source: JLL Hotels and Hospitality Group
"There are also significant tax depreciation benefits with no near-term capex requirement, and a genuine opportunity to enhance the gaming capability of the hotel with more GMEs (Band 1 SA2) and room large enough for more machines."
The hotel is being offered for sale via an expressions interest campaign closing on Thursday, August 20 at 4pm.
For more information, email or phone Ben McDonald or John Musca via the details provided below.
Source: JLL Hotels and Hospitality Group
THIS IS A SPONSORED FEATURE ARTICLE
Similar to this: