An Oasis in Townsville’s CBD hits the market for the first time in 42 years
City Oasis Inn, located in the capital of North Queensland, has hit the market with buyers expected to jump at the opportunity.
The property is surrounded by a host of business generating attractions including the award-winning beach esplanade ‘The Strand’, Queensland Country Bank Stadium, Reef HQ, The Museum of Tropical Queensland, the lush paradise Magnetic Island, and The Great Barrier Reef.
Townsville is home to Australia’s largest army base, Lavarack Barracks, as well as the Port of Townsville, the country’s largest container and automotive port.
The motel is situated on a site area of 3,339sqm* located at 143-175 Wills Street, Townsville approximately 350 kilometres south of the Cairns and about 1,300 kilometres north of Brisbane.
City Oasis Inn is centrally located in the heart of Townsville’s CBD, widely considered to be the capital of North Queensland.
Facilities include, Accommodation (42 rooms total), a Three (3) Bedroom Manager’s Residence, Restaurant & Bar, Lagoon Pool, Large Office Space including a Front Reception, Two Offices, a Staff Kitchenette, Laundry, and Off-Street Carparking.
The asset is for sale through Leon Alaban, Joseph Ganim and Taylor Morris of Savills Australia.
With a modest increase in population growth over the past five (5) years, the Federal Government has identified the city as having the potential to support a future population of a million people.
Townsville is Australia’s largest tropical city and has a significant pipeline of investment with $9.2 billion in major construction and development projects currently committed or underway, as well as another $9 billion in proposed projects, in a bid to support a prosperous economic future for the coastal city.
Leon Alaban, National Director, Hotels, Savills Australia said it appears to be an ideal time to invest in an asset of this quality, with the Townsville economy making significant and positive progress across several key economic indicators including population growth and gross regional product.
“The opportunity lends itself to further expansion of the accommodation or even a larger scale development (STCA), therefore providing suitability to several buyer types including motel operators, property developers or long-term investors seeking a reliable cash-flow business”.
According to Joseph Ganim, Senior Executive, Hotels QLD at Savills Australia, the business should continue to grow whilst the corporate and government investment in the region remains robust.
“Following the last extensions to the property, City Oasis Inn has been meticulously maintained and should provide an incoming buyer comfort that any further improvements or refurbishments would allow for an immediate investment return”.
“With such strong investment planned for infrastructure the region coupled with Townsville’s diverse economy, City Oasis is very well placed to benefit well into the future”.
The Freehold Going Concern of City Oasis Inn is being offered for sale by way of expressions of interest closing Wednesday the 7th of September at 4:00pm.
