MOTEL INVESTMENT IN CITY CENTRE

SOLD

Lismore NSW 2480

Accommodation/Tourism

BUSINESS FOR SALE

Description: Near new motel investment in city centre next door to club. This property is quality throughout with high depreciation allowance. Ideal long term investment.
AAA Rating: 4 star
Construction: Brick and concrete with concrete floors. 3 floors with lift. City centre location. Immaculate inspection - quality fixtures and fittings throughout. Larger than average rooms. Very modern presentation.
Residence: 4 bedroom with built-ins. Private kitchen, open plan living with surrounding tile covered verandah and undercover garage. Huge residence above reception.
Age: Built 2005
Clientele: Very large rep trade, workers, tourists.
Land Area: 1900sqm approx.
Rental: $340,000p.a. Increases by CPI - Minimum 3%, maximum 5%.
Chain Affiliation: No
Lease: 25 years remaining
Laundry: Domestic equipment. All linen hired.
Restaurant: Yes. Full commercial kitchen - highest quality.
Services: Microwaves, undercover parking, Austar, broadband, licensed mini-bar, fire rated.
Occupancy: 70% approx. as advised.
Comment: Delightfully presented investment motel. Newest in the city. Adjacent to large club. Large depreciation allowance available. Just listed - exclusive to Manenti Quinlan & Associates.