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For Sale

$3,000,000 AUD

Located in one of the most vibrant farming communities in Far North Queensland, this property is perfect for those looking for MORE! MORE consistent business, year round. MORE consistency in occupancy and most importantly MORE consistency in cashflow!

In contrast to most backpacker hostels, the Banana Barracks has been specifically designed to cater to travellers working in the region – an effort that has paid off with an average length of stay of 90 DAYS against a more typical 7-14 days in most establishments. This positioning in the local market is further cemented with strong ties to the local business community and employers.

Ideally positioned in the town centre on Butler Street (the main street in Tully), the Banana Barracks is in walking distance to the town’s bus terminal, IGA, post office, chemist, news agencies, banks and retail outlets. Boasting additional frontage to Richardson Street, the 2866m2 complex is fully fenced with CCTV for added peace of mind.

Approved for up to 120 guests, the property caters for various styles: 8 or 10 person dorm style accommodation or alternatively in one of 10 freestanding bungalows, which have been recently upgraded and include LCD TVs, wash basins, AC and Wifi access.

Additional features include communal kitchen, toilets and showers, coin-operated laundry and off-street parking. An on-site commercial kitchen is not currently in operation but offers opportunity to supplement existing revenue streams via owner operation or lease agreement.

Rounding out an impressive feature list, the property includes an on-site manager’s bungalow and the successful “Rafters” nightclub which operates on Friday and Saturday nights.

As an added bonus, the entire property was extensively refurbished in 2012 to a Category 5 Cyclone rating.

Key Points

• Excellent Cash flow business
• Solid all year round occupancy
• Substantial 2866sqm CBD freehold
• Freehold and Business – Walk In Walk Out

A rare opportunity in the Far Northern market, The Banana Barracks and Rafters Nightclub freehold businesses are being sold on a walk in walk out basis, by formal offer.

Ref #: 501744162
  • 17/06/2016
  • Contact our experts for details on this transaction