SOLD – Freehold Boutique Backpackers Hostel / Guest House – Magnetic Island

Description

Amazing Sea-change Opportunity. 9.4 Ratings on Booking.com. Turnover $130k+. Huge potential for growth. Freehold business and property on beautiful Magnetic Island.

This has to be one of the best sea-change opportunities you’ll come across this year, offering a solid foothold in the rapidly growing holiday accommodation industry. This great boutique hostel addresses a unique market opportunity and demographic, combining budget hostel accommodation with a guest need for privacy.

• Just 8kms offshore from Townsville, Magnetic Island is one of Queensland’s premier holiday destinations

• Freehold Land – 1,000 m2; building – 423 m2

• 15 Private rooms with modern shared kitchen and lounge, and ablution facilities

• Office plus recently modernised manager’s residence

• Crystal clear pool, tidy garden and BBQ area

• CStay provide private rooms for young couples seeking respite from noisy dorms, as well as friends who travel together and enjoy some peace and quiet

• CStay also targets special interest groups, such as the annual Music on Magnetic convention, which has booked the entire hostel four years in a row

• CStay has undergone significant renovations over the past six years, with all equipment near-new. (Retiled floors in the lounge and kitchen area, modern kitchen, upgraded communal bathrooms, all bed frames replaced; new bedside tables, new bar fridges, new air-conditioners)

• State-of-the-art Wi-Fi network installed – definite draw card.

• 8 camera video surveillance system

• Second 316-litre hot water system installed

• New commercial washer, commercial dryer + domestic washer for owner’s use

• 10kW solar system has reduced electrical expenses by 27% on a year-to-year basis

• Around 54m2 on the upper level could be turned into 6 more rooms or a small self-contained flat

• Active business arrangement with local bicycle hire company – 40% commission for each hire

Located on a beautiful tropical island, CStay was ‘rescued’ by the current owner in 2012 and transformed into a very successful business, with yet more potential still untapped, so this is your opportunity to snap up an amazing business and lifestyle!

Freehold Price $550,000