$ 1,100,000.00
42 Steven St Redcliffe QLD 4020
$1,100,000
Ainslie Manor
The Offer
The freehold and the business are on offer for sale on standard terms inclusive of all the inventory and furniture to allow continuation of the business without interruption. Offers are invited with a price guide of around $1.1 m. Please contact us to arrange an inspection.
The Property
Ainslie Manor is located in a quiet tree-lined street opposite a park on a rectangular level site, measuring 665 sq. m. The property is conveniently located 500 m from the water front and a very short drive from Sutton’s Beach Leisure Area, Redcliffe Jetty, Redcliffe Showground, Redcliffe Hospital and Redcliffe shopping and restaurant district.
The Tudor style brick and fibro house offers comfortable and spacious internal living of 356 sq. m over three levels plus a double garage. The internal layout is functional and practical and the house can be used as a large family home or continue to be used as a warm and welcoming BnB.
The ground floor level consists of a reception area, a lounge, a kitchen with formal dining, a laundry and the owner’s suite which comprises a walk-in wardrobe and an ensuite bathroom. Both the formal dining and the owner’s suite open up via attractive glass French doors to a covered patio for wonderful outdoor entertaining by the large and inviting in-ground pool.
The upper levels lead to 7 air-conditioned rooms, two spacious guest lounges and a wide veranda that overlooks the pool area. Six of the guest rooms have ensuite bathrooms and all have built-in wardrobes (the seventh bedroom is currently used as a utility room for ironing)
The property is in great condition and has recently undergone some internal and external renovation. There has also been some new fit-out and inclusions added.
The Business
The Ainslie Manor BnB was established in 2004 by the vendors. The business enjoys repeat custom and a good reputation on TripAdvisor. The business caters for holiday makers, travellers visiting family or friends, business travellers and hospital visitors. It is an easy to operate business with only one working owner and casual cleaning support. The nightly tariff ranges from $115 per night to $145 per night and stock is well distributed via an online channel manager.
Occupancy rates are kept low in the range of 55% to 60% for lifestyle and servicing capacity reasons (the current owners are transitioning to retirement after more than 10 years running the business). The turnover is at approx. $155k per annum and adjusted profits after add-backs are approx. $75k per annum. The bottom line can easily be improved by increasing the occupancy rates more in line with the Peninsula’s rates, which is in the range of 70% to 80%.
The Location
Redcliffe is one of the seven suburbs that comprise the Redcliffe peninsula, which is a short 35 min drive from the Brisbane CBD and is closer still to Brisbane’s domestic and international airports and the Port of Brisbane. It offers a relaxed bayside lifestyle with a distinct focus on leisure and recreation. It is blessed with 22 kilometres of pristine coastline and enjoys stunning views of Moreton Bay, Hays Inlet and Glasshouse Mountains.
The suburb of Redcliffe acts as a service centre for the Moreton Bay island communities and is a long established tourist hub for the bay, and a base of operations for the local fishing and seafood industry.
Redcliffe’s swimming beaches are the closest to Brisbane and offer a wide array of water based activities including whale watching. Around 1.2 million tourists including 370,000 domestic day-trippers visit the Redcliffe Peninsula each year, and are predominantly from the greater Brisbane region.
Redcliffe has recently benefited from the completion of several major infrastructure projects, which include the construction of a new 2.7 kilometre bridge between Brisbane and Redcliffe, substantially reducing travel time. Redcliffe is also set to be connected to Brisbane’s extensive Citytrain network via the completion of a new 12.6km dual-track railway line from Petrie to the suburb of Kippa Ring. This $1.15 billion project will include six new railway stations and is set for completion in 2016.
Web ID Q150522
Price $1,100,000
Title Freehold
State QLD
Region Brisbane
Suburb Redcliffe
Postcode 4020
Property Type Hosted Accommodation
Operating Status Going Concern
