MOTEL - EXCELLENT EXPOSURE IN CBD LOCATION

SOLD

Armidale NSW 2350

Accommodation/Tourism

BUSINESS FOR SALE

Description: CBD location. Major regional city. Long term lease on large corporate Motor Inn. Excellent exposure. Growing trader.

AAA Rating: 3½ star
Construction: Two level brick building with concrete slab floors, colour bond roof and brick wall partitions. Medium sized units. Appointments of good standard. Solid construction with good street appeal.
Residence: 2 bedroom, 1 with built-ins, lounge/dining, bath/toilet.
Age: 1965 - 1975
Clientele: Corporate travelers, passing trade, tourists, bus travel.
Land Area: 1 acre
Tariffs: Single $70; Double $80; Family (4) $100; Extra Person $10
Chain Affiliation: No
Lease: 24yr term. Rent $168,000 plus GST.
Laundry: Domestic heavy duty (sheets hired). Balance done onsite.
Restaurant: Yes, used for groups only
Services: Room service, fully licensed, guest laundry, reverse cycle air-conditioning.
Turnover: $674,046 - nets $167,127
Occupancy: 56% avg last 3 yrs
Comment: Large attractive motel close to city centre. Big corporate trade. Strong coach booking. Property fully managed.