140-142 North Fenton Street, Devonport, Tasmania
Quality motel in growth city
SOLD
Business Description
Fantastic location near the beach and Mersey River, and 1km from Devonport CBD
includes 33 rooms, reception & office, restaurant (currently closed by choice), 3 bedroom manager's residence, on site parking for 35 vehicles, guest and staff laundries, and 2 car garages
Devonport is Tasmania's third largest city and is undergoing the largest urban renewal project ever undertaken in regional Tasmania.
The new "Spirit of Tasmania" ferries arrive in 2024 which will see an additional 160,000 passengers annually to enter Devonport.
Business Summary
Key Investment Insights
1. Prime location near the beach and Mersey River, and close to the city center of Devonport.
2. Well-maintained and established motel with 33 rooms, reception and office, and a restaurant.
3. Manager's residence with 3 bedrooms for on-site living.
4. Ample parking space for 35 vehicles, including guest and staff laundries and 2 car garages.
5. Located in a city undergoing significant urban renewal, providing potential for growth and development.
6. Upcoming increase in tourism with the arrival of new "Spirit of Tasmania" ferries in 2024, bringing an additional 160,000 passengers annually.
7. Opportunity to re-open the restaurant for additional income and services to guests.
8. Potential for expansion and development of the motel in the future.
9. Strong and consistent financial performance, with potential for further growth.
10. Ideal for an owner-operator or investor looking to enter the hospitality industry in a growing city.
