Serviced Accommodation Newcastle Est 16y
Stock Included: Yes
Stock Value: —
Years Est: 2000
Gross Revenue: $490,000.00
Terraces for Tourists currently manages 12 properties with a total of 27 bedrooms in the 3 to 4 star range. Nine of these have been in the portfolio for 7 or more years. Most properties are in Newcastle East, with one nearby on The Hill.
Newcastle Council has designated this area as a heritage residential and tourism precinct. Our accommodation business is unique in Newcastle and serves a niche market for discerning guests.
RECEPTION & ADMINISTRATION
Terraces operates from 9 Telford Street, Newcastle East under lease. The Reception, office and work areas are here, together with a residence for the managers and the James one-bedroom apartment. Lease of this property is available subject to the owner's approval.
Terraces for Tourists' unique sale proposition is 16 years of experience in the letting of comfortable home-from-home heritage houses in an historic precinct. We cater for visitors who want more than a hotel room, who want the convenience of this city location with its easy living, its proximity to transport, restaurants and the amenities of city life, who want to explore this historic area of Newcastle as well as go to the beach, and who want to cook for themselves and entertain their family and friends in a domestic environment.
Terraces guests have come from a variety of backgrounds and have stayed for many different reasons.
- They are working in the Newcastle area in businesses that have a single person or small teams on a project for several days, weeks or months.
- They are families re-locating to or from Newcastle who take up accommodation for days or weeks in the transition, or locals having their own houses repaired or renovated.
- They are wedding or reunion family or friends groups who often take several houses, particularly those adjacent to each other.
- They are on holidays at the beach with their bicycles and surfboards.
- They are attending sporting, theatrical and other events.
- They are visiting academics from the University of Newcastle at conferences for a few days or on sabbatical for months.
PAST, PRESENT & FUTURE
- In 2015-16 Terraces accommodated 542 groups who stayed for 7615 person-nights with an average stay of 5.3 days.
- In 2014-15 we managed 559 groups for 9119 person-nights with an average stay of 5.6 nights.
- Terraces has forward bookings into 2017.
There is a demand in Newcastle for the accommodation provided by Terraces, accommodation which is self-contained and self-catering, stylish and close to all the amenities of this city, and which is run in a personal caring way, the bedrock of the best in hospitality. Prospects for increased profitability are good.
Property Title Included:
Business Operated from Home:
Newcastle City Council
Newcastle - Hunter, NSW