Mercure Hotel Pakenham, 77 Racecourse Rd, Pakenham VIC
After opening its doors in September this year, the freehold interest in the much anticipated Mercure Pakenham is up for sale, through selling agents Stonebridge and Wilson Property.
Underpinned by a 20-year lease, the hotel accommodates 64 spacious guest rooms, positioning on a landholding of 3,506 sqm. The high quality building is over 3-levels, totalling 3,506 sqm GLA and 71 at-grade car spaces.
Rorey James from Stonebridge said that it was a “terrific opportunity for investors to enjoy a rare 20 year initial lease term together with a building which will be purchased well below replacement cost ”
He added that the “CPI annual increases and depreciation tax benefits would be very appealing for buyers”.
The hotel is directly adjacent to the popular Cardinia Club, as well as being only moments from the Pakenham CBD. It’s position along Racecourse Road connects to key regional arterials Princes Hwy and Princes Freeway, as well as the Pakenham Train Line.
When speaking of the opportunity for a hotel in this area, Ben Wilson of Wilson Property said “A gap in the market was identified, as the Melbourne Southeast Growth Corridor lacked modern/quality accommodation options for travelers. The only accommodation options within Pakenham are circa 40 years old.”
He also added “Family owed & operated; BFN Developments have delivered another high quality commercial project. You only have to view the property to see the detail & thought that has gone into the design & execution of the property.”
The freehold interest in the Mercure Pakenham is being sold via Expression of Interest closing on Wednesday 7th December at 5:00pm AEDT.