bathurst nsw 4/108 william street...property management 13 disclaimer 15 annexures strata plan...
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Bathurst NSW 4/108 William Street
Information Memorandum
For Sale
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4/108 William Street, Bathurst NSW
Information Memorandum
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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4/108 William Street, Bathurst NSW
Information Memorandum
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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4/108 William Street, Bathurst NSW
Information Memorandum
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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4/108 William Street, Bathurst NSW
Information Memorandum
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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4/108 William Street, Bathurst NSW
Information Memorandum
Location Maps
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4/108 William Street, Bathurst NSW
Information Memorandum
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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4/108 William Street, Bathurst NSW
Information Memorandum
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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4/108 William Street, Bathurst NSW
Information Memorandum
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4/108 William Street, Bathurst NSW
Information Memorandum
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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4/108 William Street, Bathurst NSW
Information Memorandum
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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4/108 William Street, Bathurst NSW
Information Memorandum
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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4/108 William Street, Bathurst NSW
Information Memorandum
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
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4/108 William Street, Bathurst NSW
Information Memorandum
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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4/108 William Street, Bathurst NSW
Information Memorandum
The Heritage Listed “Royal Hotel” Bathurst NSW
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4/108 William Street, Bathurst NSW
Information Memorandum
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.