High-performing Freehold regional motel in Cooktown, QLD with plenty of upside | Resort Brokers ID : FH007572
This is a fantastic opportunity to secure a solidly performing freehold motel in the historic town of Cooktown.
The River of Gold Motel is a highly desirable location for the corporate market and benefits from tourism and coach tours.
The motel sits on 3,044m2 of land with the opportunity to purchase the adjoining 1,012m2 block of land for further extension of the motel which may be developed for that purpose subject to council approval units/cabins.
Current owner/operators have invested significantly in recent times in a capital sense, ensuring there are no major works required of the incoming purchaser. Providing a great return on investment and various growth options this is an extremely appealing proposition for a highly motivated purchaser.
- High-performing regional motel with an outstanding reputation.
- Strong, recurring corporate and tourism clientele.
- Under-utilised restaurant/bar with conference facilities, ripe for maximisation.
- Significant recent capital investments in room and motel upgrades.
- Potential for expansion with an available adjoining 1,012m2 land block.
- Conveniently located just a 3-minute walk from the town centre.
- Stable ownership for the past 18 years ensuring consistent quality.
- Inclusive of top-quality inventory throughout the motel and restaurant.
- Inspection by appointment only.
Date updated: 25 Feb 2024 22:00:12
Net Profit: $336,721