bathurst nsw 4/108 william street...property management 13 disclaimer 15 annexures strata plan...

Bathurst NSW 4/108 William Street

Information Memorandum

For Sale

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4/108 William Street, Bathurst NSW


Table of Contents

Introduction 2

Executive Summary 3

Location 4

Location Maps 5

Site Particulars 5

Property Details 7

Room Rates & Occupancy 9

Financials 10

Tenant Profile 11

Sale Process 12

Contact 12

Property Management 13

Disclaimer 15

Annexures

Strata Plan

Expressions of Interest Form

Available on Request

Sale Contract

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Introduction

Since being established in 1975, Burgess Rawson’s offices in Sydney, Canberra, Melbourne,

Brisbane, Gold Coast, Perth and associated office in Kuala Lumpur have had considerable success

in marketing properties of this calibre.

Burgess Rawson are property specialists who manage, sell, value and lease commercial assets for

our large investor and owner occupier client base. We foster long term relationships, adhere to our

market focus, are flexible, adaptable and are known for our specialist skills, seamless national

network and iconic investment Portfolio Auctions.

Based on our knowledge and experience, Burgess Rawson is confident in recommending this

property as an outstanding investment opportunity.

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Executive Summary

Investment Features

• Four immaculate boutique serviced apartments for sale in one line

• Excellent presentation, each two bedroom apartment decorated to a different theme

• Four valuable security car spaces on title

• Apartments comprise the top floor of the “The Mews” building

• Prime location surrounded by major shopping centres, Woolworths, Coles, Aldi, Dan Murphy’s,

cinema, major banks and Bathurst’s historical and popular tourist sites

• Bathurst: a major regional town with an established & growing population of 33,110 (census

2011)

• Opportunity to run as a business or subdivide and sell each unit individually

• Potential Gross Income: $200,000 pa + GST (estimated)

• Indicative Price: $1,400,000

Strata Area

• 559 sqm (According to annexed Strata Plan)

Lease Details

• Short to long-term accomodation

Estimated Current Net Income

• $115,788 pa + GST

Method of Sale

• For sale by Private Treaty

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Location

Bathurst is a regional city servicing central New South Wales. Approximately 200 kilometres west

of Sydney, Bathurst is the oldest inland settlement in Australia.

Bathurst has an estimated resident population of 42,354, expected to grow to 53, 851 by 2036

which reflects a 24.79% increase. Further to the resident population of the city, Bathurst benefits

from a greater retail catchment area of approximately 146,000 people.

Bathurst is strategically located at the junction of the Great Western, Mid-Western and Mitchell

Highways resulting in Western NSW, Sydney, Newcastle, Wollongong and Canberra, all being

within four hours’ drive. The city has a reliable and dynamic transport system which is able to

distribute products easily and cost effectively. Additionally Bathurst has two train terminals,

Grainforce and Kelso Logistics that can offer container transport to Port Botany as well as

Newcastle and Wollongong Ports.

Bathurst has a strong and diverse economy underpinned by the retail, manufacturing and

education industries and produces an approximate gross regional product of $1.96 billion. As the

hub of Central New South Wales the city provides access to a market of more than 8 million people

and regularly attracts new business.

The property is conveniently located approximately 150m south west of the Bathurst CBD and 20m

from the intersection of William and Russell Street. The units are on the top floor of the “Mews

Building” located behind the heritage listed “Royal Hotel”. Pedestrian access is via William Street

through the Royal Hotel and vehicle parking accessed via Gunthers Lane.

The property enjoys its absolute central CBD location and is within walking distance to all the major

banks, major shopping centres, Woolworths, Coles, Aldi, Big W, Fast Food, cafes, restaurants and

an array of Bathurst’s historical and tourist sites.

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Location Maps

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Site Particulars

Title Details

Lot 4 in Strata Plan 72755

Strata Area

559 sqm (According to annexed Strata Plan)

Zoning

B3 Commercial Core under Bathurst LEP 2014

Objectives of zone:

• To provide a wide range of retail, business, office, entertainment, community and other suitable

land uses that serve the needs of the local and wider community.

• To encourage appropriate employment opportunities in accessible locations.

• To maximise public transport patronage and encourage walking and cycling.

• To encourage development that confirms the role of the Bathurst central business district as

the primary retail and business centre in the region.

• To protect and conserve the historic and scenic quality of the Bathurst central business district

as a key economic and social asset.

Permitted without consent:

Environmental protection works; Home-based child care; Home businesses; Home occupations;

Roads

Permitted with consent:

Child care centres; Commercial premises; Community facilities; Educational establishments;

Entertainment facilities; Function centres; Hotel or motel accommodation; Information and

education facilities; Light industries; Medical centres; Passenger transport facilities; Recreation

facilities (indoor); Registered clubs; Respite day care centres; Restricted premises; Waste or

resource transfer stations; Any other development not specified in item 2 or 4

For all information on zoning and development www.bathurst.nsw.gov.au

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Property Details

The property is located on the top floor of an extension to the rear of the heritage listed “Royal

Hotel” which was completed in 2000 and known as “The Mews”. A modern foyer area connects

both buildings where a lift provides access to all floors including the basement where the four on

title security car spaces are located.

The top floor comprises four similar self-contained apartments each consisting of a main bedroom

with built in wardrobes, kitchen with modern appliances, split air-conditioning, balcony, bathroom,

laundry and living area leading to a mezzanine loft bedroom with ensuite and storage. The

apartments are fully furnished with appliances and present very well and have been operated as a

short to long term accommodation.

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Room Rates & Occupancy

Room Rates Short Stay

Room 1 Bed Per Night 2 Bed Per Night

All Rooms $198 mid-week $280 mid-week

$232 weekends $298-$363 weekends

Note: Room rates are variable depending on the time of year due to different sporting events and holiday seasons. During the October car races the cost for 1 or 2 bedrooms is $5500 for 4 or 5 nights.

Weekly/Long Stay Room Rates

Room Price Weekly +

Mews 1 $990 - $1,320

Mews 2, 3 & 4 $1650

Occupancy

Period April 2015 to April 2016

Mews 1 79%

Mews 2 95%

Mews 3 54%

Mews 4 44%

The vacancy factor offers great potential for adding value by increasing occupancy.

Strata Title (STCA)

An alternate use for the property is to strata title each unit and sell individually. The location is ideal for people working in the CBD, university students or retirees looking to downsize.

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Financials

April 15 to April 16 (Gross Income excl GST) $178,860

Less Yearly Statutory Outgoings

Council Rates $2,804

Water Rates $1,000

Strata Levies $21,984

Land Tax (on single holding basis) Nil

Insurance $1,084

Less Yearly Operating Expenses

Repairs and Maintenance $4,524

Gas & Electricity $5,584

Bank Fees $2,187

Advertising $1,946

Booking Fees and Commissions $1,447

Cleaning & Laundry $6,164

Employment Expenses $8,870

Legal Fees $579

Food & Beverages $300

Printing, postage & stationary $849

Telephone, Internet & Fax $3,750

Total Outgoings & Expenses $63,072

Net Operating Income pa (excl GST) $115,788

Please note that the above information is intended as a summary of the lease agreement supplied and has been represented as accurately as possible. We recommend prospective purchasers make their own enquiries to gain a thorough understanding of the provisions of the lease contained within in the Sale Contract.

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Tenant Profile

The Mews Apartments are in the very heart of Bathurst on the site of the heritage listed Royal Hotel

building and across from the Bathurst Court House and the Bathurst Memorial Entertainment

Centre.

The apartments offer competitively priced boutique accommodation for the discerning traveller.

The two bedroom, two bathroom apartments are spacious and fully self- contained. There is secure

parking and a lift. From the balconies take in the views of the mist rising in the valley or enjoy a

drink watching the sun set reflected in the clouds above the hills.

For the Bathurst Car Race Weeks there is a bus near the front door to take you to Mount

Panorama Race track.

Source: http://www.bathurstheritage.com.au/the-mews-apartments/

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Sale Process

Method of Sale

The property is offered for sale by Private Treaty

Indicative Price: $1,400,000

Inspections

Inspections can be arranged by prior appointment.

Terms of Sale

Deposit of 10% payable upon exchange and the balance upon settlement. It is proposed the

property will be offered as a 'going concern' and if the purchaser meets the provisions of the GST

legislation the sale will not incur GST.

Contact

Kieran Bourke

D 02 8113 5201

M 0417 418 007

E [email protected]

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Property Management

At Burgess Rawson, we’re not only market leaders in investment sales, but did you know that we

can enhance the value and return of your investment every day? This is done by providing a

professional property management service that will ensure long-term success of your asset.

Our Property Management Department

• With a nation-wide management portfolio valued in excess of $2 billion and with market

knowledge of all forms of commercial property, we have the ability to manage your property no-

matter the type or its location

• Our team prides itself on relationship building with all of our tenants, and has built quality

relationships with blue chip companies such as Bunnings, Coles, ING, Liquorland, Woolworths

as well as the four major Banks and many small businesses. This skill is paramount in tenant

retention, avoiding long periods of vacancy and minimises arrears

• Our experienced team will add value to your asset by taking an investor minded management

approach. We will forecast and maximise your return by thinking “return on investment” in all

property dealings

• Due to the fact that we manage all forms of commercial, industrial and retail property, we can

tailor a management system to suit your individual requirements

• We are commercially minded, monitor expenditure closely & treat each property as if it were

our own

• By undertaking regular inspections of all our managed assets to ensure presentation is at its

best at all times and through close monitoring of critical lease terms and conditions we ensure

that no obligation or detail is missed...minimising risk to our clients

There are many other ways that our management team can maximise your property’s investment

return, even in difficult market conditions. To find out how we can help you, please call us today.

Martin Fisher

Director, Property Management Division

D 02 8113 5244

O 02 9232 6288

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The Heritage Listed “Royal Hotel” Bathurst NSW

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Disclaimer

This Information Memorandum has been prepared

in good faith and with due care by Burgess

Rawson (NSW) Pty Ltd and if applicable, its

conjunctional agent. This disclaimer may also

extend to include any other Burgess Rawson

Australian office referred to henceforth as

“Burgess Rawson”.

By accepting this Information Memorandum,

recipients agree for themselves and their affiliates

to the terms of this Disclaimer.

This Information Memorandum has been prepared

solely for general information purposes and not as

specific advice to any particular recipient or any

other person. It is not to be construed as a

recommendation by Burgess Rawson that any

recipient proceeds with any investigation or with

any purchase and/or lease of a property or

service. In all cases recipients should carry out

their own independent investigation, assessment

and analysis.

Intending purchasers should note:

• In the event of any inconsistency of this

property report and the contract for sale of

land, the provisions of the contract for sale of

land shall prevail.

• The lease details (if applicable) contained in

this Information Memorandum are only

illustrative of the relevant lease document/s.

• Figures for outgoings and rentals as stated in

this Information Memorandum may be based

on estimates. Potential purchasers should

make their own judgement as to the likely net

income.

• The only representations and warranties

which have any legal effect will be those that

are expressly included in any legally binding

contract that may be concluded with a

successful purchaser.

• All stated dimensions and areas are

approximate.

To the maximum extent permitted by law, no

member of Burgess Rawson, their respective

directors, employees, agents, conjunctional

agents, advisors or representatives, as the case

may be:

• provides any undertaking, express or

implied, as to the accuracy, adequacy,

reliability, reasonableness or completeness

of the information or any opinion or

statement contained in this Information

Memorandum;

• shall have any liability (including for

negligence) for any statements, opinions,

information or matters arising out of,

contained in or derived from, or for any

errors or omissions from or failure to correct,

any information in this Information

Memorandum or any other written or oral

communications transmitted to any recipient;

and/or

• is under any duty of disclosure or fiduciary

duty or any obligation to update any

information contained in this Information

Memorandum or any other written or oral

communication transmitted or made

available to a recipient, or to notify any

person should any such information cease to

be correct after the date hereof or the date of

provision, as the case may be,

• and each recipient, by accepting delivery of

this Information Memorandum, waives all

rights in that regard.

This Information Memorandum is provided to the

recipient on a confidential basis, and is not to be

resupplied to any other person without the prior

written consent of Burgess Rawson. The recipient

may, however, disclose the Information

Memorandum to any of its employees, advisors

(including lawyers and accountants) or agents to

the extent absolutely necessary to allow the

recipient to evaluate the property/properties and to

act on an opportunity to purchase the

property/properties, but will ensure that those

employees, advisors or agents maintain the

confidentiality of this Information Memorandum.

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