, Armidale NSW

For Sale

Accommodation/Tourism

SOLD

Description: Corp regional city large leasehold. Very strong trader. Property managed. Vendor has priced the property to sell.

AAA Rating: 3½ star
Construction: Brick with tile & colour bond roof. Two storey. Brick wall partition and concrete floors. All paint work under 2 years old. All beds and carpets as new. 5 suites with spa baths.
Residence: 2 bedroom with built-in wardrobes, private kitchen, lounge/dining, bathroom. Property currently managed. Good residence for couple or small family. Currently located close to reception. Reverse cycle air conditioning.
Age: 20 - 30 years
Clientele: Strong corp trade, education department, some groups plus passing trade.
Land Area: 1 acre.
Tariffs: Single $99 - $140; Double $99 - $140; Extra Person $15.
Chain Affiliation: Yes
Lease: 21 years (2029) Rent: $227,385
Laundry: Full commercial on-site. All linen owned. 2 plus changes.
Restaurant: Yes with full licence plus convention facility.
Services: Room service, microwaves (3), sauna, convention facility, licensed bar.
Turnover: $1,100,000. Nets $356,000 after all costs.
Occupancy: 58% last 12 months.
Comment: Prime position in major regional city. Strong corp and education trade. The property has been refurbished and presents as a top quality 3½ star Motor Inn. Upgrading work continues to be carried out. Inspection highly recommended