FREEHOLD INVESTMENT MOTEL FOR SALE - STRONG NEW ENGLAND TOWN
SOLD
Description: Single level B&B motel on the main street of Northern NSW country town. CBD location. Strong year round corporate and passing trade. Very easy business to run. Currently tenant trading very well.
Star Standard: 3.5 star
Construction: Single level brick & tile with concrete foundations and brick wall partitions. Good variation of room sizes including 2x 2BR family suites. Solid brick building in excellent condition - no movement. Paintwork good.
Residence: 3 bedroom, 2 with built-ins. Large lounge/dining area, new bathroom, share motel kitchen. Roomy convenient residence - joins reception. Great presentation.
Age: Built 1984
Clientele: Corporate rep trade, local workers, passing trade, tourists.
Land Area: 2,391sqm approx.
Tariffs: Single $100; Double $115; Family (4) $135 - $240; Extra person $15 - $25
Chain Affiliation: N/A
Lease: Expires 2042 (20 years)
Rent $93,921 Per Annum Net GST
Yield: 6.7%
Laundry: Heavy duty equipment. Sheets sent out. Balance laundered onsite.
Restaurant: N/A
Services: Room service breakfast, microwave ovens available, reverse cycle air conditioning, undercover parking, BBQ, foxtel, fire rated.
Turnover: 2021/22 $380,000 (As Advised by the Tenant); 20/21 $449,320; 19/20 $335,531
Occupancy: 65% approx.
Comment: Town centre motel in strong New England rural town. Good presentation and condition. Steady trade with room to improve. Best location. Long lease in place. Tenant has always paid all rentals on time with no outstanding issues.
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