MID COAST MOTEL FREEHOLD INVESTMENT FOR SALE
SOLD
Description: Mid coast investment motel. Town centre main street location. B&B only. Long 18 year lease remaining. Rent only 20% turnover. Property trading very strongly. 8% yield on investment. Rarely do properties like this become available.
Construction: Solid double brick construction in very good order. Cliplock roof. Built 1974. 20 units of varying sizes and configurations. Modern appointments of excellent standard.
Residence: 2 bedroom both with built-ins and ensuite to master, lounge, dining, bath/toilet, laundry, covered entertaining area and garage. Well presented - convenient - joins reception.
Age: Built 1974
Clientele: Corporate, passing trade, reps and tourists.
Land Area: Approx. 1,404 metres square
Tariffs: Single $103-$132; Double $116-$146; Twin $120-$132; Family (4) $142-$154; Extra Person $14.
Chain Affiliation: Golden
Lease: 18 years to December 2035
Laundry: Full commercial equipment. All linen hired.
Restaurant: No - Walk to club
Services: Room service breakfast only, reverse cycle air-conditioning units - split system; 15 microwave ovens; well equipped motel kitchen close to reception; heavy duty domestic laundry; parking in courtyard in front of units.
Turnover: $135,246 Rent 2017
CPI increase due January, 2018
Comment: Town Centre and one of the most popular motels in mid north coast city. Huge corporate trade. Very comfortable and convenient residence. Close to shops, restaurants and club. Great inspection.
MQ Property ID:
3981337
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- Suburb  
- Region Mid North Coast
- Property Type Accommodation/Tourism
- Status For Sale