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Well Established Motel In Glenelg For Urgent Sale For Sale

Adelaide, South Australia
Asking Price:
$500K - $1M (AUD)
Sales Revenue:
$500K - $1M (AUD)
Cash Flow:
$100K - $250K (AUD)

This Business is listed due to a family crisis. The price has been drastically reduced for immediate sale. This well established motel is ideally located in the heart of Glenelg, a 2 minute walk to beautiful Glenelg Beach, Glenelg Marina, Restaurants, Hotels, the Adelaide Tram, and Jetty Road shopping precinct. It comprises of 38 upgraded rooms, including 3 spa rooms, 3 interconnecting family rooms and 2 interconnecting kitchenettes. 2 bedroom managers quarters, a large reception area, and ampol on site parking. Capital improvements made to the motel have been in excess of $629,000.00. up to June 2015, from motel income.

Property information

Real Estate:

Lease

Lease Terms:

10 year new lease from 2016 with option for new lease at the end of existing term.

Leasehold Rent:

300,000.00 (inc GST) per annum

Location:

Glenelg

Premises Details:

Walking distance to Jetty Road, Beach, Marina, Hotels and Restaurants.

Business Operation

Reasons for selling:

Owner retiring

Trading hours:

7.30am - 8.30pm (7 days a week)

Employees:
8
Years established:
Approximately 40 years

Other Information

Support & training:

1 month of support from owner.

Website:
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