Nyngan, New South Wales
1044ML - Proven Money Maker 42% Return
SOLD
Business Description
* 24 rooms plus 3 bedroom residence
* High visibility, corner position
* No restaurant
* Easily operated by couple
* Current occupancy 75% +
* Rent under 20% of sales
* 20 years remaining on the Lease from 1st July 2017
If you have a thirst for working and being well rewarded for the effort, have a closer look at this motel.
The income generated from this property has allowed our current owners to go on and purchase their own freehold.
It"s now your turn !!
Net profit $233,309 for 2016/17
Location: Nyngan is a country town of some 2,500 people, situated by the Bogan River on the eastern edge of the Great Outback. It is located on the Mitchell Highway between Narromine and Bourke, 583 km north-west of Sydney. Nyngan is a well serviced town with its history in wool, wheat and cattle production. Nyngan is now also a mining centre thanks to the new industry of copper mining located just 50km away near Girilambone.
Nyngan shopping has all the necessities you will need. It is well serviced with two independent supermarkets and numerous independent butchers supplying locally grown produce. There are local bakeries, cafes and restaurants and, if you want to dine out, there are the usual pubs and clubs to consider. Essential services including banking, chemists, newsagents and postal services are all available in Nyngan. There are numerous clothing, craft and gift shops and nurseries which also service the town. The larger service centre of Dubbo City is only 1.5 hours away.
The locals will tell you that Nyngan is a great place to live with services like the new multi-purpose Hospital, Ambulance Service, two Doctors and a Dentist. It is also well supported with allied health services and support structures.
Property Code: 2495
Business Summary
Key Investment Insights
1. The motel has a proven track record of generating high returns, with a 42% return on investment.
2. The property is located in a high visibility, corner position, which can attract more customers.
3. The absence of a restaurant on the premises makes it easier to operate for a couple.
4. The current occupancy rate is 75% or higher, indicating a high demand for the motel.
5. The rent is under 20% of the sales, which is a favorable ratio for the business.
6. The lease has 20 years remaining, providing long-term stability for the business.
7. The town of Nyngan has a population of 2,500 and is well-serviced with essential amenities and services.
8. Nyngan is also a mining center, providing potential for additional business from the mining industry.
9. The property has allowed the current owners to purchase their own freehold, indicating its profitability.
10. The net profit for 2016/17 was $233,309, demonstrating the financial success of the business.
