1933MI Quay Street, Bundaberg Central, Queensland
1933MI - SOLD UNDER THE HAMMER - Deceased Estate Investment Motel
SOLD
Business Description
- Quality Investment in strong motel town.
- 18 Unit double brick motel walking distance of CBD.
- Long-time consistent high occupancy business.
- 15 years remaining on lease.
- Good tenancy.
- Many refurbishments over previous few years.
Available via auction is the Freehold Passive Investment of the Alexandra Park Motor Inn. Located in the stable Bundaberg accommodation market, the motel overlooks the peaceful surrounds of Alexandra Park and the Burnett River within easy walking distance from the Central Business District.
High occupancy and consistent trading over many years ensure this motel is a quality and very sustainable investment.
Comprehensive upgrades over the previous few years include: a fully self-contained apartment with full kitchen and private lounge, new pool fence, guttering, down pipes, stairs and balustrades and painted exterior brick and steelwork. In addition, the two bedroom residence had a new kitchen and both bathrooms were refurbished.
Upgrades to the rooms include new beds, room furniture and appliances including 20 new air-conditioners.
The lease has 15 years to run from 22nd September 2020 with strong and sustainable tenancy
Bundaberg is one of the best regions in Queensland for motel operators, with high occupancy rates and a relaxed lifestyle.
Annual Rent: $110,503 plus GST
ONLINE AUCTION
2pm Wednesday 3rd June 2020 – Bidding at the Interfaced auction will be available through; Online Video (Zoom), via Telephone and at Tourism Brokers, 34 Lamorna Ave BEECROFT NSW . Registration to bid is required and relevant forms are available now.
Contact Mark Tuck from Tourism Brokers for further information.
Property ID: 1933MI (quote when enquiring)
Location: Bundaberg is a progressive cosmopolitan city and part of a vibrant diverse region just four hours north of Brisbane. Situated at the southern tip of the Great Barrier Reef, and enjoying the world's most superb climate, Bundaberg is a provincial hub renowned for the friendliness of its residents, its limitless economic opportunities and a genuinely affordable cost of living.
The Bundaberg region is located in the heart of a rich sugar and horticultural belt supported by a growing manufacturing sector. In fact, Bundaberg produces one fifth of Queensland's sugar crop and the city is surrounded by a green sea of rich sugar cane and many farms growing Australia's finest small crops. The city plays a significant role in global manufacture and industry, being home of 'the famous Aussie Spirit', Bundaberg Rum, leading drinks manufacturer Bundaberg Brewed Drinks, diversified agricultural corporation Bundaberg Sugar, and many others of international recognition.
Abundant potential exists for a new wave of investment opportunities, given the close proximity to South East Queensland, and the excellent water, transport and other infrastructure in place. Bundaberg welcomes tourists and residents wishing to raise a family or retire - vast opportunities await you.
Property Code: 3450
Business Summary
Key Investment Insights
1. The business for sale is a Freehold Passive Investment of the Alexandra Park Motor Inn, located in the stable Bundaberg accommodation market.
2. The motel consists of 18 double brick units within walking distance of the CBD.
3. The business has a long history of consistent high occupancy rates.
4. The lease has 15 years remaining, providing a stable and sustainable tenancy.
5. The motel has undergone comprehensive upgrades over the previous few years, including a fully self-contained apartment, new pool fence, and refurbished rooms.
6. The two-bedroom residence also received upgrades, including a new kitchen and refurbished bathrooms.
7. The lease has an annual rent of $110,503 plus GST.
8. The property is available for auction, with bidding options including online video, telephone, and in-person at Tourism Brokers in Beecroft, NSW.
9. Bundaberg is a progressive cosmopolitan city with a vibrant and diverse region, located four hours north of Brisbane.
10. The region is known for its friendly residents, economic opportunities, and affordable cost of living.
11. Bundaberg is a major producer of sugar and horticultural crops, with a growing manufacturing sector.
12. The city is home to well-known companies such as Bundaberg Rum and Bundaberg Brewed Drinks.
13. There is potential for new investment opportunities in the region, given its close proximity to South East Queensland and existing infrastructure.
14. The region welcomes tourists and residents looking to raise a family or retire.
