8
Photos
Location
Reset to default
Report ListingDaniel Kon
Agent Name
List your property today
Showcase your real estate where it truly matters - in your local community.
Reach out to our team and gain exposure in no time.
Contact us
Australia | Box Hill North
606 Elgar Road, Box Hill North, Vic 3129
Rare Permit Approved 10-rooms Hotel Development Opportunity in Box Hill North! Attention developers, Airbnb operators, and astute investors,
The hotel business is one of the oldest real estate strategies to date, one that offers both cash flow through trading and capital growth. But where can you find such a piece of real estate at an entry-level price within a remarkable growing suburb?
Avant National is delighted to present a rare gem - a near once-in-a-lifetime opportunity to own a prime piece of real estate in Box Hill North with enormous potential!
This corner block, approximately 700 sqm in size, comes with an approved Plan and Permit for the construction of a hotel/motel accommodation business with 10 rooms, a Conference Hall, and basement parking with 7 car spaces, spanning 4 levels, including the basement.
Nestled between the Grand Mercure Hotel in Doncaster and the soon-to-be second Chinatown in Melbourne, this hotel site development opportunity is perfect for entry-level hotelpreneurs seeking to enter the accommodation industry with a very affordable capital outlay.
The current hotels in Box Hill and Doncaster boast an average room rate of $150/night. With 10 rooms at a 75% average occupancy rate, you can enjoy a potential turnover of $410,000 per annum, along with an additional $50,000 per annum for the conference/office room on the top floor. This combined turnover brings in close to half a million dollars a year. This opportunity is even more promising if you are already in the accommodation business.
With convenient access to public transportation, Box Hill North is a flourishing neighbourhood known for its vibrant community, excellent schools such as Koonung Secondary College, shopping centres, parks, and recreational facilities. The existing house has 6 rooms, all fully leased, generating a monthly rent income of approximately $5000. Given the strong demand in the rental market, the rent is expected to increase further, providing potential for higher returns.
The vendor is open to assisting the new buyer in setting up a hotel business, separately.
Secure Parking:
no
Dishwasher:
no
Broadband:
no
Ducted Heating:
no
Ducted Cooling:
no
Split system Heating:
no
Hydronic Heating:
no
Split system Air con:
no
Gas Heating:
no
Reverse Cycle Air con:
no
Evaporative Cooling:
no
Air Conditioning:
no
Alarm System:
no
vacuumSystem:
no
Intercom:
no
Pool In Ground:
no
Pool Above Ground:
no
Tennis Court:
no
Balcony:
no
Deck:
no
Court yard:
no
Outdoor Ent:
no
Shed:
no
Open FirePlace:
no
Hot Water Service:
no
Inside Spa:
no
Outside Spa:
no
Furnished:
no
Study:
no
Built in Robes:
no
Gym:
no
Workshop:
no
Rumpus Room:
no
Floor boards:
no
PayTV:
no
Fully Fenced:
no
entertaining area:
no
Vacuum System:
no
Ducted Vacuum System:
no
Swimming Pool In ground:
no
Energy Efficiency Rating: Low (0):
no
Energy Efficiency Rating: Med (6.0):
no
Energy Efficiency Rating: High (8.0):
no
Energy Efficiency Rating: Med (5.0):
no
Energy Efficiency Rating: Med (5.5):
no
Energy Efficiency Rating: High (10.0):
no
Energy Efficiency Rating: Low (0.5):
no
Energy Efficiency Rating: Low (2.5):
no
Energy Efficiency Rating: High (8.5):
no
Energy Efficiency Rating: Med (7.0):
no
Energy Efficiency Rating: Low (1.5):
no
Energy Efficiency Rating: Low (3.5):
no
Energy Efficiency Rating: Med (4.0):
no
Energy Efficiency Rating: Low (3.0):
no
Energy Efficiency Rating: Low (2.0):
no
Energy Efficiency Rating: Med (7.5):
no
Energy Efficiency Rating: Med (6.5):
no
Your monthly budget 
We use your income and expenses to calculate how much remains each month after you make loan repayments.
Repayments
Expenses
Remaining
Listed price from 753,100 We use your income and expenses to calculate how much remains each month after you make loan repayments.
Deposit
The Available deposit figure below shows your total deposit minus upfront costs. Please click on the link for detail.
Interest
Based on current RBA Lenders' Interest Rates. For Owner occupied properties it is 6.28% and Investment properties 6.52%.
Agent Name
Agent Name
To request an inspection
