MOTEL - MID-NORTH COAST

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Description: Mid-north coast large BRB motel in city centre location. Prime position, close to RSL.
AAA Rating: 3 Star.
Construction: Two storey brick with concrete slab floors, corrugated fibro roof with brick partitions, very solid construction, no movement or creaks.
Residence: 3 bedroom (3 with ensuite) 2 with built-ins, private kitchen, dining room, 2 lounges - 1 upstairs, 1 downstairs, garage. A large family residence, joins reception & back office.
Age: 1968-1975
Clientele: Travelers, reps, holiday tourists, business trade.
Land Area: 2000sqm approx.
Tariffs: Single $82 - $125; Double $88 - $130; Extra person $15
Chain Affiliation: Country Haven
Lease: 20 year term. Rent $139,000 plus G.S.T
Laundry: Domestic equipment. Linen all owned, sent out.
Restaurant: Upstairs, seats 80-100, used for groups only, RSL adjacent to property.
Services: Breakfast, room service, Austar, fire rated, cooking facilities (2), 5 lock-up garages.
Turnover: $605,895 net G.S.T
Occupancy: 60% (34 units)
Comment: Very solidly built with excellent family residence. Two self contained units could be permanently let. Great location opposite major club. North coast city centre.