, Eden NSW

For Sale

Accommodation/Tourism

SOLD

Description: South Coast investment property. The business is solid. New 30 year lease. Colonial style building in prime location.AAA Rating: 3½ star
Construction: Brick and tile built on concrete slab. Single level with brick wall partitions. Good variation of unit sizes including spa rooms and family rooms. Good quality appointments. Very well maintained.
Residence: 3 bedroom (ensuite & walk-in robe), share kitchen, lounge/dining, bathroom, private yard and double lock-up garage. Very good residence. Joins kitchen & reception.
Age: 1980
Clientele: Reps, tourists, passing trade, bus trade.
Land Area: 2 acres
Tariffs: Single $80 - $130; Double $88 - $150; Family (4) $100 - $165; Extra Person $10
Chain Affiliation: Yes
Lease: New 30yr (6 x 5yrs) Rent: $180,000 + CPI
Laundry: Full commercial. Sheets & slips hired, towels owned.
Restaurant: Yes - 100 seat, 30 alfresco. Licensed bar.
Services: Room services, 6 microwaves, inground pool with spa, fire rated, guest laundry, licensed restaurant & bar.
Turnover: $1,183,362 2007/2008 - $1,221,775 2006/2007
Occupancy: 63%Comment: Excellent single level motel with brand new lease in place. Valuation 22nd Feb 05 = Land $650,000 - Improvements = $1,450,000. Total value $2,100,000.