A Melbourne-based property investor has purchased Coffs Harbour's Coast Hotel for $6.15 million.
A Melbourne-based property investor has purchased Coffs Harbour's Coast Hotel for $6.15 million.

Chinese investor purchases Coffs Coast hotel for $6-million

A MELBOURNE-based Chinese investor has purchased one of Coffs Harbour's favourite watering holes, The Coast Hotel.

The sale for $6.15 million was transacted by reality firm Burgess Rawson on an 8% yield.

Selling agents were Dean Venturato and Darren Beehag alongside Moore and Moore Real Estate's Deane Moore.

"The popular hotel was eagerly snapped up by a Chinese national investor based in Melbourne and will return a net income of $492,307 pa plus GST to the buyer," Burgess Rawson principal Dean Venturato said.

"The astute investor was enticed by the secure 31-year lease extending to 2039, assuring a 'set and forget' asset for lucky new owners."

The investor expects a $492,000 annual net return.
The investor expects a $492,000 annual net return.


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