JLL Hotels & Hospitality is delighted to present for sale the Tropical Queenslander via Expressions of Interest.

The property is being offered as a freehold going concern including 58 rooms, 2 resort-style swimming pools and a restaurant facility (currently closed). The property sits in very close proximity to the Cairns Base Hospital, being on the same street and just a few hundred metres to the facility.

“Whilst the Cairns accommodation market has experienced pressure throughout the COVID pandemic, the Tropical Queenslander has enjoyed strong occupancy and great cashflow as a result of the consistent hospital related business” Mr Closter said.

The Tropical Queenslander participates in the Patient Travel Subsidy Scheme (PTSS) which provides financial assistance for eligible patients who are referred to specialist medical services not available at their local public hospital or health facility. A total of 20 rooms in the hotel are offered to eligible patients who apply for the subsidy which produces around 35% of the income the Tropical Queenslander generates.

tropical_queenslander_-_2.jpg

“With Cairns being a major regional hub with a primary referral hospital there is a huge catchment for these types of medical based uses which drives demand for the Tropical Queenslander,” Mr Closter continued.

Enjoying three street frontages on a substantial site of 3,708sqm, the Tropical Queenslander has substantial development upside whilst the existing building and business provides excellent income.

Gareth Closter of JLL Hotels & Hospitality Group said, “The current managers are doing an excellent job of operations, but they aren’t experienced hoteliers. It’s a family run business that could benefit from an experienced operator”.

More broadly, Cairns is looking forward to a strong trading year with state and international borders now open. “Cairns is such an iconic tourism destination! Clearly the region will benefit from the re-opening of Australia’s borders combined with the pent-up demand for people to travel,” Mr Closter commented.

Accommodation providers in Cairns are reporting higher occupancy in March with strong forward bookings in April given the Easter Holiday period. “I see 2022 as being a strong year for the FNQ region given our newfound freedom to travel. It’s a destination that offers so much for tourists to enjoy” he said.

For more information contact Gareth Closter of JLL Hotels & Hospitality Group via the contact form below.