If someone says “YMCA”, chances are a familiar soundtrack will start booming in your brain, closely followed by arms extending, folding and swaying to form those four memorable letters.
And if it’s fun to stay at the YMCA, that explains why Leumeah Lodge in Nicholls, home to the YMCA branded as “the Y”, has been popular with tourists, groups and schools since it was completed around 2015.
1/38-46 O'Hanlon Place, Nicholls ACT 2913
Now on the market for $16 million-plus, the freestanding building sits on around 8000 square metres and is part of a units plan on a parent site of 21,765 square metres.
The Y recently committed to a new 10-year net lease to March 2036.
The lodge offers 60 hotel-style rooms accommodating up to eight people each. There are bunk, twin, queen and family rooms, as well as a separate two-bedroom apartment.
While group bookings are its core business, Leumeah Lodge also operates as a serviced hotel when vacancies permit. It receives net income of around $1.1 million a year, plus GST.
Daniel McGrath of Ray White Commercial Canberra says Leumeah Lodge represents a very stable investment in a high-demand property sector.
“It’s a modern complex – there’s no capital expenditure required, and there’s a new 10-year net lease in place with an established and reputable tenant,” he says. “This is a pure set-and-forget opportunity.”
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