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Tamworth's Best Motel Find For Sale

Tamworth, New South Wales
Asking Price:
$615,000 (AUD) Furniture / Fixtures included
Sales Revenue:
$507,000 (AUD)
Cash Flow:
$100K - $250K (AUD)

Over the past 2 years I drive past this motel regularly and noticed that the NO VACANCY sign was turned on frequently. When I had the opportunity to list the motel through the Golden Chain Motels member benefit scheme it was confirmed that this motel operates on a high occupancy.

Being shown around the motel you could see that the owner, Alan, was proud of his motel and enjoyed the life.

Anyway, the time has come for Alan and his wife Nanette to retire and you now have the opportunity to purchase this Motel and enjoy what Alan and Nanette have built up over the past 5 years.

12/08/2017 - Alan has advised me that he is prepared to meet the market, so I will adjust the price accordingly in the next few days. In the meantime if you want to submit an offer please contact me. Further information available upon request, please contact seller below for more details.
18/08/2017 - Alan has reduced the price to $615,000

Property information

Real Estate:

Lease

Lease Terms:

20 years remaining from a 25 year lease

Leasehold Rent:

$113,027 (AUD) per annum

Living Accommodation:

Free standing 3 bedroom residence with every convenience

Location:

Prominent position on the New England Highway surrounded by Fast food outlets and a Chinese Restaurant

Premises Details:

AAA Rating: 3.5 star
Construction: Single storey Brick & Tile 15 units, comprehensive refurbishment program in place
Storage: Large storage areas with workshop
Land Area: included park area
Tariff: Single $110 to Family $155
Laundry: Commercial - Towels, Bathmats etc. on premises and Sheets hired
Restaurant : No
Services: Breakfast, split system R/C air-conditioners, microwaves, gas BBQ, inground pool, free Wifi, guest laundry, fire rating current.
Occupancy: In excess of 80%

Size in square feet:
5,003 sq.m.

Business Operation

Expansion Potential:

There is additional land, currently used as parkland which could be investigated for relaxation pursuits.

Competition / Market:

Tamworth is a popular motel destination with in excess of 45 motels

Reasons for selling:

Retirement

Trading hours:

Reception is open from 7.30am to 9.00pm seven days

Employees:
Casual Housekeepers
Years established:
In excess of 20 years

Franchise Information

Franchise opportunity:

Franchise Resale

Franchise terms:

Golden Chain Motels - subject to application

Other Information

Support & training:

3 days onsite assistance with special off-site assistance from Motel Assist - upon application

Financing available:

Financing options are available from Motel Assist - Upon Application

Furniture / Fixtures value:
$300,000 (AUD) - included in the asking price
Inventory / Stock value:
$3,000 (AUD)
Website:
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