- Sophie01Member@sophie01Join Date: 2008Post Count: 1
Hi, I have been looking at purchasing an apartment in Melbourne that will be leased to a hotel chain. Some of the deals seem quite reasonable. It would be good to hear from someone that has one of these apartment that are lesed back to hotels or have recently sold one to hear their comments.attrillParticipant@attrillJoin Date: 2004Post Count: 54
i had one for a few years as at the time I was away a lot and the "hands off" approach suited my style. They can be restricting as the rent is controlled and there is no way you can nip in and do a quick renovation. I sold it for not much more than I bought it for and put the money into a unit that I renovated for a nice capital gain as I was spending more time at home.
Some people love them, some avoid them at all costs. Just be aware that there will not be a great capital gain, but the yield can be good and regular. Some come with discounts for the hotel, or free nights, which might suit you.
Hope this helps.