Ingham, Queensland

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

REDUCED FREEHOLD $2,600,000

Business Description

- Money maker from day one.

- Fantastic Starter or great addition to existing portfolio, it offers heaps of upside.

- New Bottle shop installed and operational and yet to see the value add in the figures. This will provide a significant cashflow going forward in its own right, adding further to the bottom line at a cost of $330,000.

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

- Retirement creates a rare opportunity to secure a long-term future. Currently operated by a Professional Hotelier with 62 years experience, now ready to retire.

- Generations of Family have owned and run this one, so it has a strong history and has been cared for with continual upgrades.

- A Great opportunity to buy into a family run Hotel in Far North Queensland that is well regarded, respected and is stable with a significant and proven client base.

- ROI in excess of 19% that continues to grow. This Freehold Going Concern has everything, and it is under pinned by the 15 gaming machines and two more machines which can be added. (15 of the latest high performing gaming machines with a licence for 17). The authorities for the 15 Electronic Gaming Machines are beneficially owned by the property owner - the last average price for these authorities was as at ---------- Coastal-region (minimum acceptable price $187,367 each per authority - Total Value: $2,810,585).

- 15 basic accommodation rooms all fully air conditioned. comprising 13 Single, 2 Double and 1 self-contained unit (Unit for managers / owners, etc). Current owners do not reside on site.

- 3,091 m2 of land with room for expansion.

- Multiple bars and the ability to created themed areas and functions.

- One of the best commercial kitchens for the area. able to cater for significant functions.

- Rear gravel car park provides 50 parking spaces with additional room for larger vehicles.

- Adjacent to the hotel is a public parking space for 50-60 cars maintained by Council.

- Expected to Net in excess of $496,074 for 2022/23 (refer Financials or 19.08%) and building to $500K plus once the Botttle shop and other improvements kick in prior to the energy and input of a new owner who should be able to take it to the next level.

Net Profit: $496,074 for 2022/23


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

Property ID: 83HF (quote when enquiring)

Property Code: 4590

Business Summary

Marketing Agent
Michael Philpott
Michael Philpott

Antonio Curulli
Antonio Curulli

Key Investment Insights

1. The business has been operating for 100 years and will celebrate its anniversary in 2024.
2. The business has a strong history and has been owned and run by multiple generations of the same family.
3. The current owners have extensively renovated the property between 2018 and 2020, while still retaining its original 'Art Deco' theme.
4. The business includes a newly installed and operational bottle shop, which has yet to see its full potential in the figures.
5. The property is situated on a large 3,091 m2 land with room for expansion.
6. The business has a proven and stable client base and is well-regarded and respected in the community.
7. The property includes 15 high-performing gaming machines with a license for 17, which are beneficially owned by the property owner.
8. The business has multiple bars and the potential to create themed areas and host functions.
9. The commercial kitchen is one of the best in the area and can cater for significant functions.
10. The property has ample parking space with a rear gravel car park for 50 vehicles and an adjacent public parking space for 50-60 cars maintained by the council.
11. The business is currently operated by a professional hotelier with 62 years of experience, who is now ready to retire.
12. The expected net profit for 2022/23 is over $496,000 and is expected to increase with the addition of the bottle shop and other improvements.
13. The business offers a fantastic opportunity for a first-time buyer or as an addition to an existing portfolio.
14. The property has a return on investment (ROI) of over 19% and is expected to continue to grow.
15. The retirement of the current owners creates a rare opportunity to secure a long-term future for the business.
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