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

SOLD

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)

Price	SOLD
Location	Cairns City
Property ID	2718BF
Category	Backpacker/Hostel

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TOURISM BROKERS CLIENT CONFIDENTIALITY AGREEMENT

IMPORTANT MESSAGE TO ALL PROSPECTIVE PURCHASERS AND LESSEES

If you are a genuine Prospective Purchaser or Lessee, and you would like to obtain additional information in respect of any listing ofTourism Brokers it is a requirement that you agree to this Confidentiality Agreement below in order to request information on a property. Tourism Brokers will respect the discreet nature of your enquiry, as we do for all our clients.

To: Tourism Brokers Pty Ltd & Tourism Brokers (QLD) Pty Ltd trading asTourism Brokers
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Ph: 1300 512 566 (International +61 2 9872 9943)
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Having declared in general principle, that I/we have a genuine interest in Tourism Brokers listing/s, I/we now request that, in your capacity as broker for the Vendor, you supply us with a copy of a current “Information Memorandum” (the “Memorandum”) or similar, describing the requested listing/s in further detail. I/we undertake that the Memorandum or similar additional information, will be used for no purpose other than to assist me/us in determining whether I/we/our client wish to purchase or lease the said business/property listed. [note, if you are a professional adviser or similar acting on behalf of a client or some third party, you are required to nominate your client’s name below]. I/we agree that the Memorandum and any other information or material made available to us (written, verbal or otherwise) via Tourism Brokers or the Vendor or their Solicitors, will remain strictly confidential.

To maintain the confidentiality of the information and material made available to me/us, I/we agree as follows;

a) The information and material will only be distributed on a “need to know basis” to me/us, our senior executives or directors of our company, and /or professional advisers and financiers to my/our company, and I/we shall take responsibility that all parties involved will be bound to and will adhere to the terms of this agreement.

b) Any copies made of the information and material will only be for the purpose of internal communications and that a system will be instituted to facilitate the recovery of any such copies.

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This undertaking shall not apply to information and material that;

a) At the time of provision or disclosure, or subsequently (through no fault of me/us) becomes in the public domain.

b) Was already known to me/us before the date thereof.

c) Is subsequently provided or disclosed to me/us by a third person who has the right to provide or disclose same.

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Although I/we understand that Tourism Brokers Pty Ltd, Tourism Brokers (QLD) Pty Ltd trading asTourism Brokers and the Vendor and their Solicitors believe that the material to be provided is accurate to the best of their knowledge, I/we acknowledge that no representation or warranty has been made or given as to the accuracy or completeness of any information or material obtained. I/we agree that neither Tourism Brokers nor the Vendor or their Solicitors have any liability to me/us or any of our advisers or representatives, arising from the selection or use of the information or material by me/us and any associates.