Property Details

Price Leasehold $650,000
Property ID 3906607

LEASEHOLD MOTEL FOR SALE- REFURBISHED THROUGHOUT

Description: 23 unit B&B motel within 3 hours from Sydney. This property has been refurbished throughout to a very high level. Turnover is growing strongly and will far exceed $500k this 2017/2018 year. Very sound construction with excellent variation of unit size and design. This area will boom in the coming years as a destination and short break location.

Rating: 3.5 star

Construction: 23 units. Two level brick construction with tile roof and brick wall partitions. Variation of unit sizes – current owners have upgraded to a high standard.

Residence: 3 bedroom with built-ins, lounge/dining room, bathroom/toilet, private balcony, lock up garage. Good roomy residence - above reception plus large family room.

Age: Built 1983 approx.

Clientele: Tourists, short stays, families, workers, reps, government staff.

Land Area: 2,262 sqm approx.

Tariffs: Single/Double $85 - $200; Extra Person $20

Chain Affiliation: No

Lease: Yes. Rent: $130,000p.a. + GST

Laundry: Heavy duty. Sheets & slips hired – bathmats & towels owned.

Restaurant: No

Services: Room service breakfast, new split system reverse cycle air-conditioning, 2 gas BBQs, inground salt pool, 2 flats with cooking facilities, fire rated.

Turnover: 16/17 $474,451 - 15/16 $385,986

Occupancy: 55% approx.

Comment: Busy motel in rapidly developing coastal area with increasing trade – excellent inspection.

MQ Property ID:
3906607

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