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Cairns City

UNDER OFFER

2718BF - RECESSION PROOF, COVID PROOF WORKERS BACKPACKER 69 BEDS, WITH 16% RETURN ON INVESTMENT

Tourism Brokers are pleased to present to market the Freehold business Castaways Backpackers and Guest Lodge which is positioned with main street frontage in Regional Far North Queensland City.

It has been especially popular with visiting tourists, but since COVID, having shifted their focus to short term rentals.  The business has established strong connections with inbound workers looking for short term rental up to three months, while they find longer term housing. Close to 100% occupancy, this property is a Cash Cow, with low operational costs. Operators only provide linen, and cleaning equipment to guests each week. 

Projected next year to surpass $400,000 in Gross Rental, 28 room Hostel on 1,012 sqm, licensed for 69 beds, the Hostel / Guest House works out around $110 per bed per week, which is excellent living for new workers coming to the city.

Currently two cleaners occupy two beds, and work for their rooms, and they are joined by one Resident Caretaker who oversees the operation.  All Rents and Fees are direct debit, and no real office hours are needed. A waiting list of future tenants is growing, for when tenants move on. 

The owner/manager accommodation is one bedroom with ensuite and a separate kitchen positioned to the front of the hostel, and front office.

Facilities and services: include the following:

  • Cooking / kitchen facilities with communal kitche.n.
  • Barbeque.
  • Fridges and television in in communal lounge.
  • Fully equipped laundry with owned sheets.
  • Coin operated air conditioners and washing machines.

It is through these extra services that the current vendors have built a very successful business.

Net Profit: $260,019 for 2021/22

Contact Antonio Curulli from Tourism Brokers for further information or to arrange an inspection.

Property ID: 2718BF (quote when enquiring)

 

Property Type Business

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Antonio Curulli

0488 030 853
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