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Expressions of interest are invited for the freehold purchase of a forty-unit motel in a major New England Regional City in Northern NSW. The onsite restaurant /bar and function centre in the motel is presently leased out. The motel is situated on a prominent site [6500sq.mtre]. set in a large garden area with a pool and BBQ [sauna and spa building closed at present but could easily be brought back into use]. The Motel along with surrounding garden and pool area have all undergone significant refurbishment in the past 18 months including new air-cons and carpet throughout the Motel Restaurant and Function Centre. The present owners have increased occupancy rates to a level which would now suit an experienced / energetic operator or investor to further build the trade with minimal cost involved to greatly increase the profit margin.Opportunity exists to split and sell lease or would be ideal as a family run enterprise. Further details available in confidence to qualified buyers. Total wiwo price guide offers over $3.5 million. EXTRA 14/3/17 Due to the amount of interest shown from suitably experienced motel operators who are unable to source funds for the Freehold purchase of our motel we have decided to offer a new 20 year lease for sale .Freehold purchase is still available and we understand due to the lack of suitable figures and the low occupancy rate most buyers wiil require significant cash to purchase either the freehold or the lease. This is a great opportunity to secure a seldom offered NSW Regional City Motel of this size ,already refurbished and set for an experienced motelier to build the trade to the previous million plus turnover. A lease is offered on a wiwo expressions of interest basis with offers over $745 k Reduced now to $695 K ,with rental commencing from a reasonable base figure with increases at 20 /40/60/80 weeks allowing your business and income to grow over this period.All genuine offers will be considered for Lease or Freehold purchase.If you are a good motelier /operator you will make money and capital gain running this fabulous motel.Turnover last six months $250,000.00 plus.
For more information, please contact seller below.
Available as lease or with real property included
Two bedroom fully selfcontained unit adjacent to Reception.
Set on a large block on the main southern entry into Armidale. Close to the City amenities away from noise. Motel Building is set back from the road with a large parking area and garden. Covered parking is situated at the rear.
Purpose built in 1986-87 of solid construction using West Armidale Brickworks unique bricks.Specially designed for the cold weather and guests comfort it has an internal corridor from each wing and all rooms back to Reception ,Bar and Restaurant/Function Centre.New air conditioning and carpets,have been installed along with painting throughout Rooms ,Reception , Restaurant and Function room. Rooms and bedding refurbished .Pool and Garden areas all given a facelift. New Name New Signs New Direction.
Motel is now ready to be taken to a new level of occupancy as all work has now been completed. This is now ideal for an experienced operator or it would also suit two families or an Investor with Managers to bring online and sell lease .Coach trade and group bookings expanding ,trade built from very low base and ready now to increase. Presently we close reception at 9 pm with no after hours book ins.
There are 25 Motels in Armidale City with varied star rating from smaller family run to larger Motels.We can cater for large groups ,coach tours etc as Motel can sleep 100 plus guests .We have Budget to Deluxe rooms suitable for singles to family rooms and suites available.
Time to retire .
7am to 9pm
Yes 10 days , owners live locally for follow up support if required
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