Cobar, New South Wales

310MI - Fantastic Opportunity for a Self-Funded Retiree

SOLD

Business Description

- Long term leaseback from existing owner.

- Corporate tenant with strong marketing arm and solid distribution of properties that offer mutual benefits and economies of scale for operations and market positioning.

- Significant depreciation allowance available once QS report obtained by purchaser.

- Current owners have recently completed a $1.1M upgrade on the property and want to enjoy the benefits with a long term lease of 10 years plus 3 options of 10 years each – total 40 years.

- Fantastic opportunity for a self-funded retiree, property investor or Self-Managed Super fund to realize the opportunity, retain a very solid tenant and have a long term cashflow coming from the property.

- 32 motel rooms (2 have only just been added to make it the 32 as prior to now it has been 30 rooms and at the same time a separate kitchen area was created for self-catering for long term stays or people who prefer not to have an extended period of Hotel Meals at the onsite pub that is part of the complex), reception area, onsite laundry, staff accommodation, 80-seat restaurant, outdoor sports bar, bottle shop, commercial kitchen, room service, conference/events centre, parking for 31 vehicles, inground pool, barbeque facilities, and large landscaped grounds.

This is an outstanding opportunity to secure a property that has recently benefited from considerable extensions and property upgrades. The owners are doing a lease back and have been very conservative on the investment price, so they benefit from the lower rental throughout the term on the lease.

The owners are wanting to focus on the business and have their capital working for them in the businesses at the higher returns rather than hold the property values.

Cobar is growing, mining, Gold, iron and a number of other opportunities are benefiting the area and the increased tourism flow are all adding to the property and business strength.

Detailed information about the operator, a copy of the proposed lease and additional information is available upon request.

This is a rare and genuine opportunity to advance in the property investment market. Huge works have been completed to date and the tenants will be spending more upgrading the property going forward and for this reason will only accept a lease with CPI increases as the upgrade works will be paid for by the tenants.

Annual Rent: $127,500 plus GST with annual CPI increases

Contact Michael Philpott from Tourism Brokers for further information or to arrange an inspection.

Property ID: 310MI

Property Code: 3464

Business Summary