The first quarter of 2016 will see a flurry of activity in the leasehold hotel sector in Melbourne’s bayside suburbs.
Will Connolly and Guy Wells of Colliers International’s Hotels team in Victoria are gearing up for a fast start to the year, with several premier leasehold hotels in bayside Melbourne scheduled to hit the market simultaneously in early 2016.
“All of these opportunities coming to the market in early 2016 will offer long leases, market rents and healthy bottom lines,” Mr Wells said. “Each leasehold hotel that will be offered in the first part of the year is well regarded in the area and is presented in fantastic condition.
“We expect strong interest, particularly given leasehold hotels are typically not lasting long on the open market in this area at the moment. We expect this activity to kick start the market and pave the way for an extremely active 2016 in this sector."
Mr Connolly said the leasehold sector would continue to fire in the year ahead, following a strong performance in 2015.
“We’re extremely excited to be showcasing a great selection of leasehold hotels in an area that’s been traditionally sought after by the market, Melbourne’s bayside area,” he said. “Whilst the first half of the financial year brought a significant amount of activity within the industry, demand still continues to outweigh supply.
“To be given the opportunity of presenting a stellar range new and exciting businesses to a hungry market is a testament to the growth and strength of our team.”
The individual hotels coming to the market will be announced imminently.