MOTEL LEASEHOLD FOR SALE - BEAUTIFUL PRESENTATION - MID NTH COAST

$345,000

Description: Fantastic central location with generous and spectacular riverfront views.

Star Standard: 3.5 star

Construction: 20 units. Double storey brick construction with tile roof and brick wall partitions. Medium to large well-appointed rooms in riverfront location. 10 rooms have sensational water views.

Age: Built 1980s

Clientele: Corporate clientele and a good mix of leisure and transit clients.

Tariffs: Single $99 - $110; Double $99 - $110; Family $165 - $185; Extra Person $10

Chain Affiliation: No

Occupancy: 65%

Lease: 19 Year Lease

Rent: $140,000 per annum excl. GST

Laundry: Commercial Laundry - All Linen Hired. Guest Coin-Operated laundry

Restaurant: No - Walk to club and town restaurants

Services: Room service - breakfast only, split system air-conditioning, in-ground salt pool, parking in front of rooms, Foxtel, cooking facilities 6 rooms, fire rated.

Turnover: 2017/18 $453,254; 2016/17 $505,443; 2015/16 $440,307;

Residence: 4 bedrooms all with built-in wardrobes. Large family sized residence above reception.

Comment: Good turnover but will increase with motivated owner operator who will reap the rewards.

MQ Property ID:
4368347


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