Central hostel hits market
FOR the first time in 29 years, a popular, inner-city Cairns hostel is on the market.
Dreamtime Travellers Rest was the creation of Steve and Sally Douglas who established the independent, award-winning, small, clean and friendly backpackers accommodation in 1990 after travelling all over the world together.
On the corner of Bunda and Terminus streets, the hostel is directly opposite the train station and Cairns Central Shopping Centre and the CBD is a short 10-minute walk away.
Tourism Brokers’ Tony Johnson is managing the sale of the freehold property and has listed it for $1.998m.
“This is an easy to manage business with staffing in place if needed,” he said.
“It is ideal as a couple’s operation or run under management.
“The land is 1011sq m on three titles with two street frontages.
“There is a total of 25 rooms sleeping 65 people with a communal kitchen, tour desk, guest laundry, pool and barbecue areas.
“There is also opportunity to increase occupancy and profits with improved marketing.
“This is a great opportunity to own an award-winning hostel in the middle of Cairns. Renowned for having a relaxed, friendly atmosphere where the rooms are clean and comfortable, this hostel would be a great addition to any accommodation owner’s portfolio or a great way to introduce yourself into the industry.”
Mr Johnson said the business made a net profit of $288,882 in 2018/19.
Describing the property as a “dilapidated, old Queenslander property on the wrong side of the railway tracks in the city of Cairns”, Mr Douglas said he and his wife worked hard to restore and transform the building into the “vision of a haven for travellers just like ourselves from all over the world”.
The pair were holidaying in Ireland when they stayed at a unique hostel and decided one day they would open something similar themselves.
Although suffering at the moment from the effects of the COVID-19 pandemic, the Cairns region is one of the fastest growing in Australia and the city has grown from ramshackle port town to a stylish modern city with a year-round outdoor lifestyle, said Mr Johnson.