Wurley

Attention developers, Airbnb operators, and astute investors,, , The hotel business is one of the oldest real estate strategies to date, one that offers both cash flow through trading and capital growth. But where can you find such a piece of real estate at an entry-level price within a remarkable growing suburb?, , First National Avant is delighted to present a rare gem - a near once-in-a-lifetime opportunity to own a prime piece of real estate in Box Hill North with enormous potential!, , This corner block, approximately 700 sqm in size, comes with an approved Plan and Permit for the construction of a hotel/motel accommodation business with 10 rooms, a Conference Hall, and basement parking with 7 car spaces, spanning 4 levels, including the basement., , The planning permit, endorsed by the council, took 4 years to obtain due to extensive back-and-forth requests for changes by the council planners. The fortunate buyer now has the opportunity to leap directly to the building stage., , Nestled between the Grand Mercure Hotel in Doncaster and the soon-to-be second Chinatown in Melbourne, this hotel site development opportunity is perfect for entry-level hotelpreneurs seeking to enter the accommodation industry with a very affordable capital outlay., , The current hotels in Box Hill and Doncaster boast an average room rate of $150/night. With 10 rooms at a 75% average occupancy rate, you can enjoy a potential turnover of $410,000 per annum, along with an additional $50,000 per annum for the conference/office room on the top floor. This combined turnover brings in close to half a million dollars a year. This opportunity is even more promising if you are already in the accommodation business., , With convenient access to public transportation, Box Hill North is a flourishing neighbourhood known for its vibrant community, excellent schools such as Koonung Secondary College, shopping centres, parks, and recreational facilities. The existing house has 6 rooms, all fully leased, generating a monthly rent income of approximately $5000. Given the strong demand in the rental market, the rent is expected to increase further, providing potential for higher returns., , The vendor is open to assisting the new buyer in setting up a hotel business, separately.