Property Details

Price Undisclosed
Property ID 3981337

MID COAST MOTEL FREEHOLD INVESTMENT FOR SALE

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


Facebook
To receive updates via your Facebook newsfeed please click here, or visit www.facebook.com/ManentiQuinlan and like our page.

Twitter
To follow us on Twitter please click here or visit www.twitter.com/ManentiQuinlan

LinkedIn
To connect on LinkedIn click here or visit http://www.linkedin.com/company/manenti-quinlan-&-associates