Penola, South Australia

THERE’S MORE THAN ONE WAY TO SKIN A CAT - 2814MF

SOLD

Business Description

ALEXANDER CAMERON SUITES at Penola sits about half way between Melbourne and Adelaide, offering a smart alternative to intercapital travellers. It‘s a tad longer but far less boring!

And what a great place for an overnight stop (we’re not all in a rush to drive straight through). Alexander Cameron Suites has 18 units to choose from, all in immaculate up to date condition. By far the best in town.

This is a high occupancy motel. A favourite of the corporates. Over the 2023 financial year, its average room rate broke the $170 mark.

And there’s more. No Transfer Duty. Zilch. Nothing. Been that way for a few years now. Compared to other states, that’s a saving of about $100,000 compared to Victoria and much more in other states. Let alone the 30 KWH of solar on the roof. You’ll be doing your bit in the war against Climate Change! (It’s all bought and paid for).

Do yourself a favour and the economy of Penola. Spend a few hours behind the raft of winery cellar doors. There’s only about 30 of them in the Coonawarra district. Cheers!

Net Profit: $581,258 for 2022/23

Contact Reg Partington from Tourism Brokers for further information or to arrange an inspection.

Property ID: 2814MF (quote when enquiring)

Property Code: 4766

Business Summary