Nanango, Queensland
1916ML - Affordable Leasehold North of Brisbane
SOLD
Business Description
- 10 unit motel in the centre of town with strong business following.
- All units were completely refurbished in 2010 including bathrooms.
- Long lease with 27.5 years remaining and good rental factor.
- Strong forward bookings for October/November 2015 and February/March 2016.
- This is a great starter motel for people new to the industry.
The current owners are keen to move on after a few years of operation and have priced the business to meet the market. Located not far north of Brisbane and in an area where there is generally strong demand for accommodation this motel with town central location is one of the first to fill up.
All of the rooms were totally gutted in 2010 and refurbished including all bathrooms so ongoing maintenance is guaranteed to be low for a number of years
Net profit $103,562 for 2014/15
Contact John Warren from Tourism Brokers for further information or to arrange an inspection.
Property ID: 1916ML (quote when enquiring)
Location: Nanango Qld
Nanango is the second-largest town in the South Burnett (as well as the 4th oldest town in Queensland) and has a population of around 4,500 residents. It is a moderately large country town and has a very friendly and informal atmosphere. The CBD features impressive chainsaw sculptures and murals which reflect the town's historical connections with timber-felling, farming and mining. The CBD area has convenience and food stores, a supermarket, restaurants and petrol outlets. Two cellar doors are also located within a few blocks of the centre of town.
Major annual events include the international Criterium Bike Race (held in Nanango's CBD in February); the Nanango Show (held at the Nanango Showgrounds in April); the Nanango Arts Festival (week in June; the Nanango Country Music Muster (held at the Showgrounds in September; the week-long Pioneer Festival (October) and the Christmas Carnival (December).
Property Code: 1636
Business Summary
Key Investment Insights
1. Well-established 10 unit motel in a central location with a strong business following.
2. All units were recently refurbished in 2010, including bathrooms, ensuring low maintenance costs for the foreseeable future.
3. Long lease with 27.5 years remaining and good rental factor, providing stability and potential for growth.
4. Strong forward bookings for October/November 2015 and February/March 2016, indicating a high demand for accommodation in the area.
5. Ideal for first-time motel owners, offering a great opportunity to enter the industry.
6. Motivated owners looking to sell at a competitive price.
7. Located in a popular area north of Brisbane with a population of around 4,500 residents.
8. Friendly and informal atmosphere in the town, with a range of amenities and annual events.
9. Potential for growth and development in the area, with two cellar doors located nearby and major annual events drawing in visitors.
10. Net profit of $103,562 for 2014/15, providing a solid return on investment.
