COUNTRY COMFORT MOTEL (Leasehold)

SOLD

353 Pacific Highway

Coffs Harbour NSW 2450

Accommodation/Tourism

BUSINESS FOR SALE

EXPRESSION OF INTEREST
Closing Tuesday 13th November 2012

Under instructions from Mitchell Griffiths and Bradley Tonks of Lawler Partners in the matter of Narran Enterprises Pty Ltd (Administrators Appointed)

EXCLUSIVE AGENTS

Description: Mid-north coast large corporate leasehold motel. Prime highway city location. Full amenities. Quality inspection throughout. Great business for a family operator or professional operator.
Rating: 4 star self rated
Construction: 2 storey brick & tile with brick wall partitions. Good variation in unit sizes and layout including 8 x 2-bedroom apartments and 6 x spa suites. Solid construction in good condition. Appointments of high standard.
Residence: 3 bedroom with built-ins, large lounge and family room, dining room, private kitchen and covered area for car and boat storage. Very large and roomy residence. Well maintained. Above reception and office.
Age: 1980's
Clientele: Strong rep and worker trade, passing trade, tourists - inbound and international.
Land Area: 1.148ha approx.
Tariffs: Single $99 - $189; Double $109 - $209; Family (4) $139 - $249; Extra Person $20
Chain Affiliation: Country Comfort
Lease: Term until November 2038. Rent $362,000.
Laundry: Full commercial equipment. All linen done onsite.
Restaurant: Licensed restaurant and cocktail bar.
Services: Room service, 12 units with cooking facilities, convention facilities, tennis court, in-ground pool with spa, internet, BBQ and fire rated.
Turnover: $998,634 - 7 months of 2011/2012; $1,336,667 2010/1011. $430,000 adjusted net.
Occupancy 42.23% approx.
Comment: Unusual family circumstances force the sale of this large resort style corporate Motor Inn. Prime location in busy North-Coast city. Solid trading history. Current owners have spent in excess of $100,000 on replacements. This property is quality throughout.

WILL BE SOLD - ALL SERIOUS OFFERS CONSIDERED

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