Cairns City, Queensland

2676MF - LARGE 91 ROOM FREEHOLD MOTEL IN CENTRAL CAIRNS

FREEHOLD $7,950,000

Property Description

Your very own Motel in Paradise here in Cairns, Far North Queensland, turning over $25,000 per week, solidly booked all year round and currently only averaging 45 % Occupancy.

- 90 + 1 room recently refurbished motel rooms.

- Good reliable money-making opportunity for a Motelier wishing to step up to the next challenge.

- Easily managed and very easy life for two active owners.

- With two reception staff in place, most weekends would be free to relax.

- Centre of town location easy park and short walk to restaurants / hotels, Cairns Esplanade and a number of other conveniences and attractions.

- High quality self-rated 3 star property.

- A good mix of corporate and local clients as well as passing trade with plenty of opportunity for growth.

A total of 91 rooms, including 25 budget units, 30 standard units, 19 resort rooms, 11 family rooms, 5 two-bedroom apartments.

This represents around $87,350 per motel room for a central Cairns location, where one bedroom apartments are now fetching close to $200,000 each.

With recent comparable sales per motel unit of $118,000, the current price for Cairns Rainbow Resort represents a 27 % discount to market, and around 45 % discount to market replacement.

Net Profit: $951,381 for 2018/19 (Pre-COVID)

Contact Antonio Curulli from Tourism Brokers for further information or to arrange an inspection.

Property ID: 2676MF (quote when enquiring)

Property Code: 3963

Property Summary

Motel Information

Marketing Agent
Antonio Curulli
Antonio Curulli

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