Cairns City, Queensland
2676ML - LARGE 91 ROOM LEASEHOLD MOTEL IN CENTRAL CAIRNS
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 averaging 85 % Occupancy.
This Lease will not last long at this price performance.
- 91 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.
Well worth the inspection and a solid opportunity returning earning a Net Income of $531,381 in 2018/19, and with little COVID effect, this Motel Lease is priced to sell at $1,195,000, reflecting a Return on Investment for a coastal seaside motel of around 46%.
A generous brand-new lease of 25 years will be offered to the buyer, at an initial rental of $400,000 a year plus GST and outgoings, indexed to CPI.
This represents around $85 a week ($4,444 Per Annum) for a central Cairns location, which reflects only one room booking per week obligation for rental alone, leaving plenty of upside to enjoy a profitable existence.
Net Profit: $551,381 for 2018/19
Contact Antonio Curulli from Tourism Brokers for further information or to arrange an inspection.
Property ID: 2676ML (quote when enquiring)
Property Code: 3965