Motel On New England Highway For Sale

Business description

Description: Very attractive New England Highway frontage motel.

AAA Rating: 3 ½ star

Construction: 24 unit, all single level brick & tile with brick wall partitions. Medium to good medium size units – very clean and well maintained – paint good. Current owners have refurbished 7 units. Very solid construction.

Residence: 3 bedroom, all with built-ins, own kitchen, lounge, dining, bathroom, carport and private yard. Lots of space – joins reception

Age: Built 1983 approx.

Clientele: Reps, tourists, passing trade, workers.

Land Area: 1/2 acres approx.

Tariffs: Single $65 - $160; Double $85 - $160; Family (4) $100 - $185;

Lease: 20 years remaining. $108,937 per annum ($9,078 per month) incl. GST

Laundry: Heavy duty equipment. Linen & towels hired – hand towels, bathmats, face washers owned – on site

Restaurant: No

Services: Room service breakfast, pool, BBQ, microwaves (12 units), DD phones.

Turnover: 10/11 $173,028 (7½ mths) - 09/10 $260,557 - 08/09 $262,002 - 07/08 $247,943 net GST

Occupancy 38% declared

Comment: Very attractive New England Highway frontage motel.

Property information

Real Estate:

Lease