MOTEL LEASEHOLD FOR SALE - TUMUT

SOLD

Description: Town centre position in prosperous Snowy Mountains town. Strong corporate trade with large manufacturing base.

Star Standard: 4 star

Construction: Attractive single storey brick construction with iron roof. Well maintained and in very good condition with excellent paintwork. 28 medium sized units in excellent condition. Recently refurbished to an excellent standard.

Age: Built 1959 - well maintained and refurbished

Land Area: Approx. 3,000 square metres

Clientele: Strong corporate trade. Good mix of workers, reps, tourists, limited bus groups and winter ski season.

Tariffs: Queen / Twin $105-$160; Family (4) $185-$195

Chain Affiliation: No

Lease: Long 27 Year Term (To February 2046)

Rent: $165,000 per annum, only 20% of turnover with no 'Market Rent review'

Occupancy: 65%

Laundry: Full Commercial Equipment - All Linen Hired

Restaurant: Seats Approx 50 (Breakfast and Group Bookings Only). Licenced. Full Commercial Kitchen.

Services: Breakfast room, reverse cycle split system air conditioning, full commercial kitchen, gas barbecue, 6 undercover parking spaces - remainder open, Wifi, D/Dial Alcatel Telephones.

Turnover: 2018/19 $900,000 Plus; 2017/18 $823,287; 16/17 $777,046 net GST

Nett Profit: $340,000

Residence: 2 bedrooms each with ensuite and built-in wardrobe; kitchen, lounge / dining. Comfortable with near new kitchen - opposite Reception.

Comment: This property will continue to grow into the future with consistent good management. Ideal family business - excellent inspection.

MQ Property ID:
4429345

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