MOTEL - SINGLE LEVEL NEWELL HWY INVESTMENT PROPERTY

SOLD

Gilgandra NSW 2827

Accommodation/Tourism

BUSINESS FOR SALE

Description: Single level, Newell Highway investment property. Long lease in place with strong tenant.

AAA Rating: 3½ star.
Construction: Brick with cliplock iron roof and brick partitions. Very sound, no movement. Variation of unit sizes. Good appointments, recently upgraded. New paintwork.
Residence: 2 bedroom, lounge/dining, bathroom, share kitchen, double carport and private yard. Residence joins reception and kitchen.
Age: 1966 - 1972
Clientele: Travellers, reps, passing trade.
Land Area: 1.5 acres.
Tariffs: Single $55 - $65; Double $55 - $65; Family (3) $80; Extra Person $11
Chain Affiliation: No
Lease: 24yr term remaining. Rent: $36,000p.a.
Laundry: Heavy duty commercial. Linen all owned. 2 plus changes.
Restaurant: 50 seat, licensed.
Services: Room service, BBQ, ire rated, air-conditioning, DD phones.
Turnover: $36,000 rent payable p.a. CPI adjusted.
Comment: Newell Highway frontage motel with huge potential for improvement. Owners have completed a huge upgrade. Recently upgraded to 3½ star AAA rating. Great investment.