Coffs Harbour, New South Wales
2592ML – LARGE MID NORTH COAST LEASEHOLD MOTEL FULLY REFURBISHED & READY TO GO!
SOLD
Business Description
- Rare 46-room coastal leasehold offering in one of NSW’s largest and booming regional cities.
- High end 3.5-star rated motel, fully refurbished top to toe with nothing to spend.
- Pacific Highway location positioned approximately midway between Sydney and Brisbane as a logical evening rest point.
- Conveniently located on the near edge of the CBD, walking distance to all relevant town amenities.
- Renowned brand affiliation providing exceptionally generous tariff returns with above average occupancy, enhancing the high volume of corporate traveller.
- A region of ample sporting and recreational events filling the occupancy calendar with forward bookings.
- Strong corporate clientele and reviews.
- Large income growth under the current operation has created a healthy rent to turnover / income percentage (nicely positioned at 22%).
- A recent 5-year increase in term by the landlord has improved security value of the proposition - landlord favourable to increases.
- Trading Income from BW statistics reporting for 2020 FY - $1,540,231.77 including tax (COVID– 19 affected).
A rare, fully renovated mid to large sized mid-north coastal leasehold property on the edge of the thriving Coffs Harbour CBD. The current operator has heavily invested in both internal and external improvements, which has proven a key ingredient to the upward income trajectory of this sought after styled property. An affiliation with the Best Western brand creates a valuable partnership. 46 high-end 3.5-star rated rooms set on two mirrored levels, complemented by a modern commercial kitchen and manageable 50-seat dining and bar area. Renovated bathrooms throughout, updated reverse cycle air conditioners, internal and external paint, the list goes on.
Currently operated by sole owner. A regrettable motive for sale will ensure success for the incoming owner operator.
Net Profit $413,599 for 2018/19
Contact James Carrick from Tourism Brokers for further information or to arrange an inspection.
Property ID: 2592ML (quote when enquiring)
Property Code: 3502
Business Summary
Key Investment Insights
1. Rare opportunity to acquire a fully renovated and highly sought-after 46-room coastal leasehold motel in a booming regional city.
2. Strategically located on the Pacific Highway, making it an ideal stopover for travelers between Sydney and Brisbane.
3. Conveniently situated on the edge of the CBD, within walking distance to all town amenities.
4. Affiliated with a renowned brand, providing high occupancy rates and generous tariff returns.
5. Strong corporate clientele and positive reviews from guests.
6. The region hosts a variety of sporting and recreational events, ensuring a steady flow of bookings.
7. Significant income growth under the current operation, with a healthy rent to turnover/income percentage of 22%.
8. Landlord favorable to rent increases, with a recent 5-year increase in lease term.
9. Trading income for 2020 FY was $1,540,231.77 including tax, despite the impact of COVID-19.
10. Well-maintained and modern facilities, including 46 high-end 3.5-star rated rooms, a commercial kitchen, and a 50-seat dining and bar area.
11. Sole owner currently operating the business, presenting an opportunity for an incoming owner-operator to take over and continue the upward income trajectory.
12. Net profit of $413,599 for 2018/19, demonstrating the profitability and potential of the business.
13. Contact James Carrick from Tourism Brokers for further information or to arrange an inspection.
14. Property ID: 2592ML (quote when enquiring).
15. Property Code: 3502.
