Description

Hospitality Facility – with long lease to established Club

This real estate trust closed in March 2019.

This established hospitatlity facility with a sports bar, bistro, TAB gaming and function centre was acquired for investors in March of 2019. It was located in Pakenham Victoria an was acquired because the fund managers,considered it would provide investors with reliable income & growth over the term of the investment. Wholesale Investors were invited to participate in the investment with mulitples of $50,000 each.

The freehold & leasehold details at the time are below

It had a commencing rental of $1,200,000 per annum with annual reviews to CPI and a commencing lease term of 13 years. The property was acquired from the club itself with a leaseback for $16 million. At that acquistion price, the initial net return will be about 7.5% per annum.

The club was established in 1875, and they built these premises as an annex to their original building in 1996 to diversify income streams and enable them to better service their community. The venue, had a liquor licence for 425 patrons. Guests of the club also benefit from substantial onsite car parking with surplus land available for future development (STCA). The land area is 1.665 HA of which there is 2757sqm of available land for development.

For further details please contact Robert Stanley-Turner on 0418 98 2000.

Disclaimer

The information contained above is of a general nature only and for the purpose of alerting our investors to a potential new investment to be syndicated. Syndicated investments are with few exceptions only available to qualifying wholesale or sophisticated investors. Box Commercial will be delighted to refer investors to the investment manager for all pertinent investment information and a comprehensive investment report.