Mecure Hotel Pakenham: unique opportunity for tourism investment in growing suburb
It’s the unique offering in Pakenham with a possible $15m price tag that gettings plenty of attention in the commercial real estate market.
South East
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A new hotel in Pakenham is giving property investors a unique opportunity to get into the tourism industry while also being landlords to international hotel chain Accor.
Listed by Stonebridge Property Group and Wilson Property, the Mecure Hotel in Pakenham, located at 77 Racecourse Rd, will bring the future buyer an annual net income of $934,585, with a 20-year net lease.
Wilson Property Group agent Ben Wilson said agents had been inundated with interested parties.
“There has been so much interest here, it’s been quite overwhelming, especially given the price,” he said.
“We are confident the asset will sell for upwards of $15m, given the uniqueness of the investment opportunity, which also is contributing to the level of interest we are seeing.”
Only opening in September 2022, the Mecure Hotel was purpose built to the tenants requirements by VFM Property Developers, which also built the Mecure Hotel in Warragul.
Mr Wilson said interest in the asset had been from across a wide range of the community.
“We have had a mixture of private investors, self-managed super funds, and almost every other investment profile,” he said.
“To find an asset like this with a brand new lease and building is a very rare opportunity.”
While this is a special chance for investors, Mr Wilson said there were other buying opportunities in Melbourne’s southeast.
“This one is very rare, but there are assets of all different quality and types right throughout the growth corridor in the southeast,” he said.
“It just shows the interest in the area is increasing with it’s growth.”
The 4286sq m property includes 71 car parks on the title, and is located close to numerous community facilities, including the Deep Creek Golf Club, and adjoins with the popular Cardinia Club.
The Mecure Hotel is for sale via expressions of interest, which close on Wednesday December 7. More information can be found here.
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