MOTEL - BUSY NEW ENGLAND MINING AREA

SOLD

Quirindi NSW 2343

Accommodation/Tourism

BUSINESS FOR SALE

Description: Busy New England Mining Area. New long lease. Limited accommodation in the area. Huge potential with food and beverage.
AAA Rating: 3 star
Construction: Brick, concrete and timber. Iron roof. Two storey. Turn of the century property which has been converted into a motel. Medium sized room, all with ensuites. Modern 3 star fit-out.
Residence: 3 bedroom, 1 with ensuite, own kitchenette, lounge, dining, bathroom, laundry. Separate kit home at the rear of the property. Very comfortable. Ideal for family.
Age: Built 1903
Clientele: Rep & mining trade mainly. Some weekend business.
Land Area: 2500sqm approx.
Tariffs: Single $69 - $89; Double $69 - $99; Deluxe $99; Extra person $10
Lease: New 25 year term. Rent $75,000.
Laundry: On-site commercial. All owned.
Restaurant: 100 seat with licensed bar (not used)
Services: Room service, lounge area (TV), microwaves and toasters in all rooms.
Turnover: $363,977
Occupancy: 70% estimate
Comment: BHP have completed all provisional work for new mine which will open in the area. The area is growing strongly with all the infrastructure and new businesses. The property is town centre location and is a great opportunity to increase income by tariff increases and opening the restaurant.