Armidale, New South Wales
2320ML - BEAUT NEW ENGLAND LONG LEASEHOLD LOW RENTAL
- Solidly constructed licensed 22 room 3.5-star property, configured for corporate and leisure travers alike.
- Consistent historical “normal trade” of Circa $500k plus turnover converted to $200k plus net operating profit.
- Record low rental ratio Circa $80k p.a provides ongoing future security to the lease health and business proposition.
- Extended lease term negotiation currently in play - Now revised to 27.5 years!!
- Impressive owner’s residence of three bedrooms, multiple living and dining areas, huge commercial kitchen, and preparation area, inclusive of cool room. (Currently not utilised by choice of vendor). Thus, providing upside opportunity for an interested new operator.
- Significant repairs, maintenance and improvements recently undertaken. New state of the art air-to-water thermal water heat system, internal plumbing upgrade, pool and barbeque area improved, LED lighting throughout and ongoing repaints and replacements.
- Long term corporate and leisure guests, along with key relationships with government groups, rural fire brigade, SES and more.
The Hideaway Motor Inn offers a great opportunity to secure a long-termed Leasehold business at market price in the strong regional city of Armidale in the poplar New England Tablelands.
A very well presented and operated property with a genuine focus on accommodation, is maintained 3.5-star property with 22 spacious rooms of varying configurations and located just 2 kms from the CBD.
The business has had a consistent (pre COVID and fires) turnover over the last five plus years. The accommodation sector in general and the Hideaway is bouncing back to operation normal, with the very high likelihood previous normal trade will be exceeded, as prediction of a domestic travel boom eventuates.
We extend the invitation to inspect and compatibility check, with assurance a deal to support the likely valuation will be seriously considered.
Net Profit: $206,968 for 2018/19
Contact James Carrick from Tourism Brokers for further information or to arrange an inspection.
Property ID: 2320ML (quote when enquiring)
Property Code: 3821