Penola, South Australia

THIS ONE DOES NOT DISAPPOINT. ON OFFER THIS 19 ROOM MOTEL, WITH LONG TERM LEASE. | Resort Brokers ID : LH007890

$1,400,000

Business Description

Resort Brokers is delighted to bring to market this well-presented, simple operation 19-room leasehold motel.

A 30-year lease is on offer with the current operators seeking an experienced tenant to enter into a new lease. All the work has been done and with no restaurant this easy operation is a perfect opportunity for an owner-operator couple.

Located halfway between Adelaide and Melbourne and with high occupancy of 76.1% and growing RevPAR, this property enjoys a strong mix of both corporate and leisure travellers. Constructed in 2004 with quality in mind, this property consists of 18 spacious, high-quality suites, plus a 3-bedroom timber cottage built circa 1916 known as Townsend House, which has recently undergone a refurbishment. Townsend House is fully self-contained with 3 queen-sized beds. The motel suites feature 12 queen and 6 king-style rooms, and the property offers single, twin, double, and family accommodation.

Be quick, properties of this quality don't come around all that often.

- Located half way between Adelaide and Melbourne
- Brand new long term 30 year lease
- Occupancy rate of 76.1%
- Growing RevPAR
- Simple operation - 18 rooms, 3 bedroom house, no restaurant
- Perfect for owner operators
- Spacious 3 bedroom manager's residence
- Inspections by appointment only
Date updated: 01 Dec 2023 00:00:06