Armidale, New South Wales

61ML - SOLID NEW ENGLAND LEASEHOLD BUSINESS IN THE HEART OF TOWN

REDUCED LEASEHOLD $640,000

Property Description

Tourism Brokers are pleased to present to market a solidly constructed property and lease business prospect. An ability for focus on the fundamental aspects of the accommodation sector, without the variable of food and beverage.

- 19 generous, independently rated 3.5-star central large motel suites.

- 24-year lease on offer, 14 years existing, and an additional 10 years amended prior to settlement.

- Solid well-built property once the original KFC building in the centre of town converted to an exceptional purpose-built motel accommodation facility.

- 16 of the motel styles rooms have recently (2019/20) have new bathrooms and air conditioners (left hand side of property: 8 ground floor and 8 first floor).

- The property has been successfully operated under management for Circa 8 years. Thus, providing owner operational upside in a genuine "selling sleep" proposition.

- A commercial kitchen exist should you choose to offer guests a breakfast option. Given the location to breakfast eateries the existing structure chooses an alternate focus.

- Most recent "normal trade" revenue performance of Circa $510k.

- Rent in line with industry standard of total property net operating profit.

- A three-bedroom residence catering for a husband, wife, or family dynamic.

Superbly located directly next door to major bowling club, adjacent highly recommended hotel and in proximity to Ex-Services club, other popular licenced venues, eateries, and major supermarket chain.

The past three months and foreseeable future is tracking for record growth. Vendors of 12 years have invested their time and are prepared for a new owner to transact to take advantage of the motel and domestic industry boom.

Net Profit: $180,561 for 2018/19

Contact James Carrick from Tourism Brokers for further information or to arrange an inspection.

Property ID: 61ML (quote when enquiring)

Property Code: 3813

Property Summary

Motel Information

Marketing Agent
James Carrick
James Carrick

Listing location
Gallery

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