A backpacker hotel in St Kilda, Melbourne is on the market via an Expressions of Interest campaign.
base St Kilda is being marketed by Jones Lang LaSalle Hotels.
Located in a prime backpacker precinct near Acland Street, base St Kilda is a brand new facility which features over 231 beds and 48 adaptable fully air-conditioned dormitory rooms, incorporating large 10-bed rooms, six to eight bed dorm rooms and four bed dorms.
The property also features a bar, base travel agency, an entertainment room and basement parking for 17 cars.
base St Kilda is currently being offered for sale with a secure long-term lease with both fixed and performance rental.
JLL Hotels’ vice president of investment sales Marcello Jimenez said base Backpackers is a new concept and part of global hotel operator Accor who have a proven track record in maximising hotel trading performance.
“Backpackers are now demanding quality as well as value, a combination base seems to have perfected.
“International backpackers spent a total of $2.3 billion in Australia during 2005 or an average of $4,674 per traveller during an average length of stay of 63.4 nights. Recent changes in Port Phillip City Council’s accommodation regulations have increased the barriers of entry into the market, hence an incoming investor has a real opportunity to enjoy yield growth by sharing the trading upside through additional performance rental,” he concluded.
By Adam Parsons
