MOTEL FOR SALE- LARGE CORPORATE MOTOR INN

SOLD

Ballina NSW 2478

Accommodation/Tourism

BUSINESS FOR SALE

Description: Large corporate Motor Inn in prime location in North Coast regional city. Very well presented with new long term lease. Option to purchase freehold in the future.
AAA Rating: 4 star

Construction: Two storey brick & tile with brick wall partitions and concrete slab foundations. Rooms are medium to large in size. They have had substantial upgrades over recent years. Property has been fully repainted inside and out over the last 24 months.

Residence: 3 bedroom with built-ins, private kitchen, lounge, dining, bathroom, private yard plus double lockup garage. Separate freestanding house on block next door. Very comfortable home. Long term development potential for motel.

Age: 30 years approx.

Clientele: Strong corp and rep trade, passing trade, tourist, sporting groups, some bus trade.

Land Area: 3500sqm approx.

Tariffs: Single $135 - $190; Double $140 - $195; Family $150 - $230; Extra person $15 - $20

Chain Affiliation: Choice Group

Lease: New 30 year term. Rent $190,000.

Laundry: Full commercial equipment.2 x washers, 2 x dryers. All linen done onsite.

Restaurant: 60 seat licensed restaurant with cocktail bar plus convention area can be used to dine.

Services: Room service, guest laundry, WiFi, Foxtel, pool, convention room, DD phones, split air-conditioning, fire rated.

Turnover: $1,132,849 2012/2013; $1,246,111 2011/2012

Occupancy: 55% approx.

Comment: Rare opportunity to obtain a corporate motel in one of the North Coast's most progressive regional cities. This is a quality property in a prime position close to the city CBD.

MQ Property ID:
845224


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