Coonabarabran, New South Wales
1632ML - A Leasehold Motel That Ticks All The Boxes!
SOLD
Business Description
- 37 Units with Turnover in the mid $600,000's
- Showing a very healthy 38.7% Return with attractive Rent ratio
- Long Lease Term
- 20 Units recently fully refurbished
- Walking distance to Bowls Club and Restaurant
- Great location on the busy Newell Highway
- Cooperative Landlord with Annual Rent reinvestment
- Contact us now for further details and to arrange you inspection!
This motel at Coonabarabran has got it all! It's a big 37 unit motel on the busy Newell Highway, within walking distance to a Bowls Club and Chinese Restaurant. The Turnover is consistently in the mid $600k's, there’s a long 25 years left on the lease and it has a very attractive rent to turnover ratio.
Th units present very well and there is a good mix to cater for all clientele. The landlord reinvests $5,000 annually to assist in maintenance of the property.
It's a Leasehold that deservers your closest attention, but don't delay - good properties like this are scarce!
Net profit $255,795 for 2017/18
Contact David Head from Tourism Brokers for further information or to arrange an inspection.
Property ID: 1632ML (quote when enquiring)
Location: Coonabarabran is home to more than 3,000 countryside dwellers and is located in Warrumbungle Shire in New South Wales. This peaceful town is known for its spectacular view of the mountain ranges that outline the area and is a popular gateway to the Warrumbungle Range and the Pilliga Forest. Coonabarabran is known for its Town Clock and for being the "Astronomy Capital of Australia" with close access to some of the largest telescopes in town. There are museums, caravan parks, observatories, and shopping centres in the area. Camping, stargazing, and sight-seeing can also be fun activities for the family.
Festival of the Stars in November is a month-long event celebrating arts and astronomy in Coonabarabran. Highlights include concerts, exhibitions and "Science in the Pub", where scientists debate hot topics in astronomy over a cooling ale.
Property Code: 3138
Business Summary
Key Investment Insights
1. The motel is located in Coonabarabran, a peaceful town in New South Wales known for its spectacular views of the mountain ranges and its status as the "Astronomy Capital of Australia."
2. The property has a long lease term of 25 years, providing stability for potential buyers.
3. The motel has a total of 37 units, with 20 recently fully refurbished, catering to a diverse range of clientele.
4. The Turnover for the motel is consistently in the mid $600k's, showing a very healthy 38.7% return with an attractive rent ratio.
5. The motel is conveniently located on the busy Newell Highway and within walking distance to a Bowls Club and Chinese Restaurant.
6. The landlord is cooperative and reinvests $5,000 annually to assist with maintenance of the property.
7. The net profit for 2017/18 was $255,795, indicating strong financial performance.
8. Coonabarabran is a popular tourist destination, with activities such as camping, stargazing, and sight-seeing, making the motel a desirable location for potential buyers.
9. The Festival of the Stars in November is a month-long event that attracts tourists and celebrates arts and astronomy in Coonabarabran, providing potential for increased business during this time.
10. The property has a designated Property Code (3138) for easy identification and reference when enquiring.
