Cairns City, Queensland

2676ML - LARGE 91 ROOM LEASEHOLD MOTEL IN CENTRAL CAIRNS

SOLD

Business 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 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

Business Summary

Marketing Agent

Antonio Curulli

0488 03....

Tourism Brokers

Key Investment Insights

AI generated. Confirm details with the seller.

1. Prime location in Cairns, Far North Queensland, a popular tourist destination.
2. Consistent and solid turnover of $25,000 per week.
3. High occupancy rate of 85% all year round.
4. Recently refurbished with 91 motel rooms, including a variety of room types to cater to different clients.
5. Easy to manage with two reception staff in place, allowing for free time on weekends.
6. Close proximity to restaurants, hotels, and popular attractions.
7. High-quality self-rated 3-star property.
8. Mix of corporate and local clients, as well as passing trade, providing opportunity for growth.
9. Net income of $531,381 in 2018/19, with little impact from COVID-19.
10. Priced to sell at $1,195,000, with a return on investment of 46%.
11. Generous 25-year lease offered at an initial rental of $400,000 a year plus GST and outgoings.
12. Low rental cost of only $85 per week, leaving room for potential profit.
13. Net profit of $551,381 for 2018/19.
14. Opportunity for a motivated Motelier to step up to the next challenge and enjoy a profitable existence in paradise.