2 Bed & 2 Bath Australian Apartment - Ref 599499
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Apartment/Flat Description
Located right at the marina, Ramada Hervey Bay is the first internationally branded apartment hotel and resort in Hervey Bay and with its ideal location has the opportunity to capitalise on the market. Branded hotels which embrace an active marketing campaign historically optimise occupancy and room rate.
The Fraser Coast region of which Hervey Bay is the gateway and hub boasts the world heritage Fraser Island, whale watching, Lady Elliott Island and many other natural attractions. With over 2.9 million visitors per annum to the Fraser Coast the region has a substantial contribution to the states tourism and a sound base on which Ramada Hervey Bay van establish its occupancy figures.
Ramada Hervey Bay, a fourth generation resort located right at the marina in Hervey Bay, compromises 46 apartments ? 44 dual key apartments, a triple key apartment and a 2 bedroom managers apartment in Stage 1. So essentially there are 91 rooms available for guests.
The dual key apartments offer maximum flexibility and opportunity to optimise investor returns as each apartment comprises a fully self contained one bedroom, kitchen, dining and lounge as well as a studio bedroom with each able to be let to guests separately.
Stage 2 will be a further 26 dual key apartments and 2 triple key apartments. Once stage 2 is complete Ramada Hervey Bay will be a 149 room hotel and resort.
As indicated previously while an apartment purchaser is purchasing a 2 bedroom apartment the opportunity to dual let to different parties offers revenue optimisation. The power of having double income potential is substantial on returns. At peak season times both from a rate and an occupancy perspective it is dual keys that come into their own. When approaching 90% or 100% occupancy and demand high the opportunity to let the 1 bedder separately from the studio to unrelated parties enables the revenue stream to be maximised. Further, the dual key offers optimum flexibility in pricing as a studio can be priced very competitively and still offer a very sound rate of return.
Our research indicates that the actual best return in capital comes from the studio and the studio acts complimentary to the 1 bedroom apartment. Our research further shows that the best capital growth comes from the studio combined with the 1 bedroom apartment.
While analyses for 55% to 90% occupancy have been undertaken Ramada Hervey Bay consider an achievable target to be 65% to 76% occupancy considering the branding and market programs adopted. On that basis an 8% to 9% rate of return on apartment purchase plus furniture package is targeted.
Information brochure available on request.
Call now to register your interest 1300 662 768
From the 1st January 2010 a copy of the Sustainability Declaration for this property will be available from the agent. For additional information go to http://www.dip.qld.gov.au/sustainable-housing/sustainability-declaration.html or to view the new Sustainability Declaration, go to http://www.dip.qld.gov.au/resources/form/sustainable-housing/declaration.pdf
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AU$590,000 |
€479,870 | £401,483 | US$637,651 (Currency and Foreign Exchange services supplied by  )
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| Type |
Apartment |
| Bathrooms |
2 |
| Bedrooms |
2 |
| Category |
Re-Sale |
| Listed |
over 1 year ago |
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Map of Hervey Bay, Queensland, Australia
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Price: AU$590,000
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