Glenview, Queensland

2680MF - EXISTING MULTIMILLION BUSINESS, WITH PENDING DA APPROVAL FOR 19 MOTEL UNITS

FREEHOLD $2,950,000

Property Description

A great opportunity to buy into an existing Bar, Bistro and Function Centre, with existing DA approvals to build a 19 room motel in Southern Queensland. This existing sustainable investment is very desirable as it has multiple future income streams and is highly diversified.

The property provides a relaxed, casual atmosphere for you to dine and drink, bowl barefoot and enjoy live music and live-streamed sports.

The property has a large casual restaurant area, a more intimate dining room, al fresco pergola overlooking the bowling green, and an outdoor covered deck overlooking the sports precinct of Mooloolah. All of these can be booked for special events.

With an annual Revenue of $1.47 million, and an Adjusted Net Profit of $269,000 you have a property that is ready to expand into developing the motel side for further upside.

Currently operated by a professional Restaurateur with many years of experience, the Bistro / Function Centre has built several components to it that are appealing to the township and the sporting precinct that envelops the property.

The existing property was designed as a Bowling Club and is surrounded by many sporting clubs that patronise the business with bookings and repeat customers.

The 19 room motel development (DA approval pending for the motel development) is well designed into the current property set up, that once completed will add a further $3 million in value to the property. The land associated with it is worth close to $1 million alone in today’s market.



With local motel tariffs around $160 a night, with a planned occupancy of 70%, this motel development could yield an annual Accommodation Revenue of around $775,000, with an annual net of around $500,000, making a $2 million construction cost quite feasible, based on a purchase price of the current land and buildings around $2.95 million.

After development, the vendor advises that an adjusted net of around $770,000, on an investment of $4,950,000 (Allowing for $2 million for Motel Development), will give rise to a Freehold ROI of around 16%, for a property only 60 minutes from Brisbane.

Net Profit: Actual $269,000 for 2020/21, Post Motel Development $770,000

Contact Antonio Curulli from Tourism Brokers for further information or to arrange an inspection.

Property ID: 2680MF (quote when enquiring)

Property Code: 3981

Property Summary

Motel Information

Marketing Agent
Antonio Curulli
Antonio Curulli

Listing location
Gallery

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