Ingham, Queensland

83HF - 100 YEAR ANNIVERSARY 2024, GET ON FOR A RIDE BACK IN HISTORY

FREEHOLD $1,955,000

Property Description

First Time offered in over 62 years as a Freehold going concern.

A Great opportunity to buy into a family run Hotel in Far North Queensland

The Hotel has a unique appeal as it currently has 15 Gaming Machine licenses valued at $1.83M, a traditional style front bar, bistro, gaming room, 2 large conference function rooms, a retail shop externally leased and 15 basic accommodation rooms all fully air conditioned.

Currently operated by a Professional Hotelier with 62 years’ experience, now ready to retire.

The property was extensively renovated between 2018 and to 2020 while retaining its original 'Art Deco' theme. The renovations included the main hotel bar, kitchen, bistro, and accommodation area.

The current financial arrangement sees a total of $412,000 in Adjusted Net Profit which is very reasonable by industry standards. The retail tenancy is ending in February 2022, so this space would make an excellent space for a Retail Liquor Shop, with ample room out back to receive and store bulk liquor.

At $1.955M, providing a solid ROI of 21%, this Freehold Going Concern has everything, and has its value under pinned by the 15 Gaming Machines and 2 more machines which can be added.

Net Profit: $412,491 for 2020/21

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

Property ID: 83HF (quote when enquiring)

Property Code: 3950

Property Summary

Hotel Information

Restaurant Facilities: -Liquor Licence: -Restaurant: -Lease: -
Marketing Agent
Antonio Curulli
Antonio Curulli

Michael Philpott
Michael Philpott

Listing location
Gallery

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