Lakes Entrance, Victoria
A Cracking Freehold Motel With Huge Potential - 2168MF
FREEHOLD $6,000,000
Business Description
- A 34 room ground floor motel in the heart of the Gippslands.
- Sitting on 5,277 m2, a development dream.
- Main street frontage with rear access.
- Can be split into Restaurant and 12 rooms, leaving 22 rooms, breakfast / dining area and residence (STCA).
Ready to take it to the next step?
- Create a website (never had one)
- Increase tariffs (not done in years - cheapest motel in town)
- Accept bus trade enquiries (not currently taking them)
- Create lease with extra rent from restaurant (minimum $50,000 per annum)
These are just a few examples of where your entrepeneur mindset can take you to boost this motel in to the next millenium. Enquire now for more information.
Net Profit: $674,088 for 2023/24 (as provided by vendor)
Contact Andrew Cronin from Tourism Brokers for further information or to arrange an inspection.
Property ID: 2168MF (quote when enquiring)
Property Code: 5158
Business Summary
Key Investment Insights
1. The motel has 34 ground floor rooms and sits on a large 5,277 m2 property, providing potential for development.
2. It has a prime location with main street frontage and rear access.
3. There is potential to split the property into a restaurant and 12 rooms, leaving 22 rooms, breakfast/dining area, and a residence (subject to council approval).
4. The motel currently does not have a website, providing an opportunity for increased online presence and marketing.
5. The current tariffs have not been increased in years, making it the cheapest motel in town and providing potential for increased revenue.
6. The motel is not currently accepting bus trade enquiries, which could be a lucrative source of business.
7. There is potential to create a lease with extra rent from the restaurant, generating a minimum of $50,000 per annum.
8. The motel has the potential for growth and improvement with an entrepreneurial mindset and strategic business decisions.
9. The projected net profit for 2023/24 is $674,088, as provided by the vendor.
10. Interested buyers can contact Andrew Cronin from Tourism Brokers for further information or to arrange an inspection.
11. The property ID for this listing is 2168MF.
12. This is a great opportunity for someone looking to take the motel to the next level and boost it into the next millennium.
