Ideally placed CBD Motel snapped up by savvy investor
IN ANOTHER good sign for the Rockhampton property market, the former Cosmopolitan Motel and Serviced Apartments was purchased on a 25 year lease by a forward thinking investor during the last week of May.
Tourism brokers real estate agent Debbie Nicholson said there was a long list of selling points for the property but it was hard to go past number one - the prime location perched on the corner of the Bruce Highway and Bolsover Streets.
She said with the thousands of vehicles making their way past on the highway and into the Rockhampton CBD, a steady income stream is ensured with a listed net profit of $241,947 for the 2015/16 financial year.
The convenient location ensured patrons were on a short walk away from city's dining precinct, theatre and night life and a short drive from the airport and other amenities.
Ms Nicholson said visitors will enjoy their R&R time by the newly renovated pool, outdoor bar and barbecue area when they aren't residing within the motel's spacious rooms.
The property was sold for an undisclosed price.
A number of other properties in the area have been snapped up by bargain hunters preparing for a rich future for Rockhampton's CBD.
- 43 Fitzroy Street, Rockhampton, Sold Mon 06-Jun-16, Offices Retail Medical/Consulting
- 68 Bolsover Street, Rockhampton Sold, Mon 05-Jun-17, Retail Offices
- 27 Bolsover Street, Rockhampton, Sold Thu 27-Apr-17, Offices
- 251 Bolsover Street, Rockhampton, Sold Thu 23-Feb-17 Industrial/Warehouse
- 92 Bolsover Street, Rockhampton, Sold Mon 30-Jan-17, Offices