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.
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