They’re in prime locations in the heart of Australia’s premier sporting and entertainment precinct.
And savvy investors can kick on with an annual net profit of $335,235 derived from year-round attractions on their doorstep.
A new leasehold offering is tempting potential owners with 61 rooms at two lucrative Quest properties. The properties come with hordes of visitors who flock to the sporting extravaganzas at the 100,000-seat Melbourne Cricket Ground, the Australian Open tennis showcase at nearby Rod Laver Arena and innumerable concerts by the world’s greatest entertainers just down the road. And some of the Australia’s best shopping is just minutes away.
The Quest East Melbourne and the Quest Jolimont are only a few hundred metres apart, just two minutes from Melbourne’s CBD and virtually adjacent to some of the biggest crowd magnets in Australia.
The Quest East Melbourne also has a rooftop terrace with stunning views.
The leasehold over the two properties is on offer for $1,340,000.
Damien Loorham, from Resort Brokers, said that, before lockdowns, visitors came from around the world for sports, entertainment and shopping to the area, and they will come again post-COVID.
“The properties are perfectly located to serve the constant demand from visitors,” Mr Loorham said.
The leasehold comes with 61 keys, with three rooms for use by the manager – one as an apartment, another as an office and another for storage.
“The numbers are very strong as far as return on investment is concerned.
“The freedom of staff available to go from one property to the other makes this a perfect opportunity for a new owner to get their foot in the door of inner-Melbourne hospitality under the Quest brand.
“The annual income is in excess of $2.7million and the properties offer diverse accommodation catering to the corporate and leisure market. “
Mr Loorham said the properties offered fully refurbished rooms and the Quest East Melbourne came with a stunning rooftop garden overlooking the MCG and with panoramic views of the city skyline.
“The Quest East Melbourne is set up more like traditional hotel accommodation for short stays,” he said, “while the Quest Jolimont features larger apartments and is geared for longer, fully self -contained stays with cooking facilities and laundries.
The properties complement each other very well, offering different styles of rooms and accommodation options.
Quest Jolimont is located alongside the MCG, minutes from Bridge Road shopping and restaurants, Rod Laver Arena, AAMI Park, Federation Square, and the heart of Melbourne’s CBD.
It has 20 modern spacious one and two-bedroom apartments, ideal for corporate or leisure travellers looking for a home away from home, with full kitchens and laundry facilities.
Quest East Melbourne is nestled between Melbourne’s CBD and Richmond’s boutique shops and restaurants. It is opposite the MCG and within walking distance to Federation Square, Melbourne Park, Rod Laver Arena, Hisense Arena, AAMI Stadium and public transport. Epworth Hospital is just 450m away.
It offers 39 serviced studios, with kitchenette facilities, making them the perfect alternative to a hotel room. Prior to COVID, the Australian Open had contributed more than $2.71 billion in economic benefits to the country, according to Tennis Australia.
And in 2020 just before the pandemic arrived, international and interstate visitors made bookings for 574,970 hotel bed nights and spent an average of $209 in the Melbourne economy every day per visitor.
Federation Square had a total of 2.7 million out-of-town visitors in the year ending December 2019.
The Melbourne Cricket Ground attracts 3.5 million patrons annually.
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