YHA Alice Springs hits the market with ‘high net worth investors’ already showing interest
A historic hostel has hit the market and already attracted the eyes of ‘high net worth investors’. Find out more.
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The YHA hostel in Alice Springs is up for sale, with owners YHA calling time on their ownership of the property after 17 years at helm.
The sale is being managed by CBRE, with Hayley Manvell and Taylor Morris from the company managing the expressions of interest process.
“We have seen increasing interest from both local and interstate high-net-worth investors, who recognise the value proposition that regional hubs like Alice Springs offer,” Ms Manvell said.
“This opportunity offers a combination of historical significance, prime location, and diverse future possibilities ensuring it will attract a wide array of prospective buyers eager to capitalise on the upside potential of this landmark asset.”
The 22 room, 108-bed, hostel started its life in 1942 as the Pioneer Walk-In Theatre, before it was later renamed the Snow Kenna’s Walk-In Picture Theatre.
It sits on a 2040 sqm parcel of land in the heart of the Alice Springs CBD, a stone’s throw away from the Todd Mall.
The hostel is located next to the current Tourism Central Australia office – who are also looking to leave the Todd Mall and take over the library space in the Alice Springs Town Council building.
TCA chief executive Danial Rochford said “we stand ready to work with the new owners once sold on the enormous possibilities in tourism for the property”.
YHA is selling the property as part of a “strategic alignment”, with the centre following in the steps of similar hostels owned by the company in Canberra, Perth, Glebe, Coffs Harbour and Airlie Beach.
Amenities such as a swimming pool, a communal kitchen, a dining space, a games room, a BBQ area, a large outdoor movie screen, and more form part of the property.
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