MOTEL - MID-NORTH COAST CITY

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Description: Stunningly refurbished B&B motel in Mid-North Coast city. Multi level construction. Walk to beach, club and shops.
AAA Rating: 3½ star standard
Construction: Concrete and brick. Three storey. Clip-lock roof, brick room partitions. Rooms are medium to large. Well furbished with modern decor. Ideal for rep and tourist trade.
Residence: 2 bedroom with built-ins, share motel kitchen, lounge, dining, bathroom, garage. Ideal for couple or small family.
Age: 25yrs approx
Clientele: Reps, tourists, passing trade, holiday trade.
Land Area: 2200sqm approx.
Tariffs: Single $80 - $110; Double $80 - $120; Family (4) $110 - $180; Extra Person $15
Chain Affiliation: Yes
Lease: No
Laundry: Commercial on-site. Linen hired. Guest laundry.
Restaurant: No. One block to club.
Services: Room services, breakfast, wireless internet, private balconies, pool, BBQ, lounge area, fire rated.
Turnover: $500,000 plus budgeted for 2007/2008.
Occupancy: 60% approx 2008/2009 - 51% approx 2007/2008
Comment: Prime position, close to surf beach and club. Walk to town centre. The motel is fully refurbished and has been a building site for the past year. With the new chain membership and web marketing the property occupancy and room rate should show strong increases in the next 12 months.