MOTEL - HISTORIC BOUTIQUE MOTEL

SOLD

Bungendore NSW 2621

Accommodation/Tourism

BUSINESS FOR SALE

Description: Historic boutique hotel and convention centre. English style bar and restaurant with open fires. Decorated in period furniture. Quality convention facilities. This property is being offered for the first time.
Construction: Double brick with colour bond roof. Restaurant and bar have pressed metal ceilings. Function centre is weatherboard and has 4 convention rooms.
Residence: 1 bedroom manages flat with built-in, bathroom, private kitchen, lounge dining area, the residence has a slow combustion fire.
Age: Bar and restaurant 100 years; Motel 15-20 years; Function room 10 years.
Clientele: Government, reps, corp trading centre.
Land Area: 3 acres
Tariffs: Single $105 - $150; Double $125 - $175;
Chain Affiliation: No
Lease: 25 years; Rent: $240,000
Laundry: Hired
Restaurant: Fully licensed with English bar and open fires.
Services: Convention centre, open fires, fire rated, large room (30sqm approx)
Turnover: $1,400,000. $276 net after rent.
Comment: Strong growth centre. 30 minutes from Canberra. Residential development is increasing the business trade in the area. Canberra is once of Australia's largest sources of business in both the convention and accommodation market. This property offers quality and peaceful accommodation.