Kalimna Hotel Freehold Investment, Kalimna, VIC 3909

MUST BE SOLD
OFFERS RECEIVED BY 15 MAY 2018 WILL BE FAVOURABLY VIEWED

- Rare investment opportunity - holding income plus development upside
- Total Site area approx. 8,778m2 including substantial vacant land areas
- Iconic hotel & function centre with accommodation
- New tenant has undertaken substantial refurbishment
- Breathtaking views of the Gippsland Lakes
- Significant development potential (STCA)

Offered for sale is the Kalimna Hotel freehold property located on the outskirts of the well-known tourist town of Lakes Entrance. The hotel and function centre is perched above the popular Gippsland holiday destination and is a large, welcoming traditional style hotel and function centre. Recent leased to a new tenant, the bar and bistro area has been tastefully refurbished, and there is potential to do the same with the older-style accommodation rooms.

The leasehold business has recently been sold to a proven hotel operator, providing regular holding income whilst exploring value-adding development opportunities for the site. Subject to council approval, the site (zoned General Residential) offers the potential for an expanded hotel/entertainment centre, or complementary uses such as a tourist park, health resort, holiday apartments, retirement accommodation or residential.

Situated on over 2 acres of land and adjacent to a national park, the vista is exceptional with panoramic views of the Gippsland Lakes and 90 Mile Beach. The hotel itself, which is approximately 770m2 in building area, sits on a 6,284m2 (approx) block and is adjacent to a further 2,494m2 (approx.) block, which could be sold off separately if so desired.

This property represents a rare development or investment opportunity for a purchaser with a vision for the future. The ever-increasing popularity of Lakes Entrance as a destination for tourists, retirees, and sea-changers is without question. Property ID: #VRN2766