185 -189 High Street SOUTHPORT QLD 4215

1000 m2 2233 m2
Expressions of Interest

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Boarding House/Budget Accommodation Facility with Development Upside

Tony Grbcic and Adam Grbcic, at Kollosche Commercial, are proud to present to the market a unique freehold investment opportunity, currently operating as a boarding house/budget accommodation facility.

With income received directly from Centrelink and with a nationwide shortage of budget accomodation providers - this is a lucrative and secure investment opportunity for the savvy investor seeking a high yielding asset.

The Property is positioned over three freehold titles, which include;

- 185-187 High Street, Southport
- 189 High Street, Southport and
- 44 Little Norman Street, Southport

With a total land component of 2,233 square metres, The Property is strategically located on the fridge of the Southport Central Business District, which is a minutes walk to the Broadwater Parklands, Australia Fair Shopping Centre, the Chirn Park Commercial and Retail Precinct, public transport amenities (Light Rail and Bus Routes) and all health services.

Currently improved with three purpose built boarding house/budget accommodation apartment buildings, providing a total of 53 rooms which can accommodate up to 60 residents. The breakdown across the three buildings are as follows;

The Manor - 10 bedrooms catering for 12 residents
The Queenslander - 4 bedrooms catering for 4 residents
The Lodge - 39 bedrooms which cater for up to 44 residents

The rooms lease for between $200-$240 per week and therefore the property has the potential to generate a gross income of over $576,000 per annum.

This asset provides strong and consistent holding income as it is tenanted by welfare participants whose weekly rental is paid directly from centrelink. Creating a secure and guaranteed income stream which is easily managed as the rental comes from one source (which is the Federal Government / Centrelink)

Furthermore, the property is Zoned 'Medium Density Residential' and lends itself to a range of development opportunities (STCA^) being located in close proximity to major employment hubs, health precincts, public and private hospitals, schools and universities.

This property is being sold via Expressions of Interest. To view this property or to obtain an Information Memorandum please contact the exclusive agents, Tony Grbcic and Adam Grbcic from Kollosche Commercial.

Disclaimer: Whilst every effort has been made to ensure the accuracy of these particulars, no warranty is given by the vendor or the agent as to their accuracy. Interested parties should not rely on these particulars as representations of fact but must instead satisfy themselves by inspection or otherwise.

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185 -189 High Street

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