Motel Details

Property Description

SOLD

North West - Leasehold

Listing No: 01639LH



Description:Tamworth-New Long Lease on offer. Located on the New England highway in a major regional centre, this prestigious, 4.0 & 3.5 star B&B motel is the perfect mix of self-contained units and motel accommodation. Conveniently situated to provide trade exposure, within close proximity to popular food outlets and only a short distance to the CBD, this superb motel has a limited liquor license allowing the purchase of alcohol through reception. The property also boasts an excellent separate commercial style kitchen for preparing breakfast and allows the potential for evening meals which current owners do not push. Originally constructed as a 14 unit motel, foresight in future opportunities saw the vacant block next door utilised, with the completion of six superb 2 bedroom self-contained apartments (opened in Jan 2009) that are currently rated at 4.0 star. All motel units have been fully refurbished and along with the grassy Bbq area offers guests high quality accommodation. Immaculate presentation throughout, with recent improvements such as bed lifters; new washer and dryers, resulting in a well-established business that continues to improve, and with the strong forward bookings, offers an excellent start for new operators. New Long Lease is on offer however must be interdependent on the Freehold Investment option which is required to be sold at the same time or soon thereafter. This property will not last long on the marketůso get in quick.

Number of Rooms: 14 Motel; 6 x 2brm Apts

Construction:Brick & Tile

AAA Rating: 3.5 & 4.0

Year Built: 1980s/2009



Residence: Comfortable 3brm (main with ensuite); built-ins; bathroom; lounge; dining; A/c-split; own kitchen; storeroom and small private yard.

Restaurant:No but within a short distance to CBD and Leagues Club

Services:Bbq; Pool-salt; Guest Laundry; Net Access Meals: Continental Breakfasts only

We are pleased to present this fantastic LH opportunity for a New Long Lease being offered on this well-located property, with impressive presentation throughout and showing an average T/O of $600k plus



Figures:

2018 Turnover: $601,500.00

NOP: -

NAR: $240,000.00


2017 Turnover: $640,000.00

NOP: -

NAR: -


2016 Turnover: $625,000.00

NOP: -

NAR: -

 

 

(NAR : "Net After Rent"       NOP: "Net Operating Profit")

Last Updated: 10 December 2018


Contact: Steve Herington

Mobile: 0408 537 028









Disclaimer: Every effort has been made to provide accurate information as possible. However, New South Wales Motel Brokers is not responsible for misstatement of facts, errors or omissions. It is recommended that a purchaser to rely on his or her own enquiries.

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