MOTEL - INVESTMENT FREEHOLD 9.6% RETURN!

SOLD

Glen Innes NSW 2370

Accommodation/Tourism

BUSINESS FOR SALE

Description: Investment freehold property. Main highway location. T/O showing annual increases.
AAA Rating: 3 ½ Star.
Construction: Double brick and block, tile roof, mainly single floor. Only 2 units upstairs. Brick partitions, good medium size units with roomy bathrooms. Good quality appointments.
Residence: 3 bedroom with built-ins. Share kitchen, lounge/dining, bathroom, back office. Good family residence
Age: Built in two stages 1973/74 - 1993
Clientele: Corp & passing trade.
Land Area: 1220sqm
Chain Affiliation: Yes
Lease: To March 2024; Rent $105,427 (includes GST)
Laundry: Commercial heavy duty
Restaurant: No, B&B only. Night meals delivered.
Services: Room Service, BBQ, reverse cycle air conditioning, microwaves, fire rated.
Comment: Motel has best position in town next door to restaurants. Quiet location opposite P.O. Immaculate presentation. Ideal investment. 9.6% return with CPI increasing.