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News release

Melbourne

Exceptionally well-priced hotel in prized coastal hot spot

JLL appointed to sell the freehold going concern of the Lorne Coachman Inn


JLL’s Hotels & Hospitality Group is pleased to announce the sale of the Lorne Coachman Inn.

Located in the vibrant coastal township of Lorne, the hotel is prominently positioned on the doorstep of the iconic Great Ocean Road and is within a short walking distance to the town centre and popular Louttit Bay surf and swimming beach, Lorne’s main beach.

“The 19-room hotel occupies a large corner site of approximately 1,958sqm and provides an ideal investment opportunity for an owner-operator or group looking to capitalise on the robust inbound tourism,” said Mathew George, Vice President – Investment Sales.

“The hotel investment market in Victoria remains tightly held, with quality ‘entry level’ stock rarely put to market. Record low interest rates and limited supply have created a highly competitive market environment, resulting in increased demand from local and offshore buyers.” Mr George said.

Lorne is a unique tourism destination which caters for seasonal holidaymakers, weekend visitors, conference markets, local and inbound tourism. The township is situated within the Great Ocean Road region, Victoria’s dominant regional tourism drawcard, receiving over two million international and domestic overnight visitors with an estimated $842 million in expenditure for the year-end March 2016.

The Lorne Coachman Inn is being offered to the market as a freehold going concern via Expressions of Interest closing Wednesday 5 October 2016.

Mr George concluded, “With an indicative yield of around 10%+, the offering provides investors and owner-operators an unprecedented opportunity to acquire a superbly located hotel asset at a low entry level in one of Australia’s leading resort towns.”