65-71 Bachelor Street, Queenstown, Tasmania
Best Value Freehold 27 Unit Motel Adj Net $430K A1 Presentation $1,650k+sav
SOLD
Business Description
In every respect this motel ticks all the boxes, value, presentation, price and upside.
Meticulous presentation, all rooms are of a very high 3.5 star standard ( all ground floor units), clinical cleanliness, whole property in very good order, improvements and renovations have been made, furniture plant & equipment upgraded. More than 100 solar panels, 43kw capacity and 27 split systems added in April 2022
Gold Rush Inn has won the 2021 Travellers' Choice Award from Tripadvisor. Queenstown has just been awarded Small Australian Tourist Town 2023.
With more than $500,000 forward booking, representing a combination of individuals and coach bookings, current YTD figures indicate an adjusted net of $430,000 for the whole financial year, to a working couple. March and April 2021 income was the best on record.
Located in Queenstown where 8 mountain bike tracks with a high degree of difficulty, have been constructed.
This motel has still got plenty of upsides, the licensed restaurant serves breakfast, dinner and is leased out, the current owners have been very selective in their bookings and the mountain bike tracks have exceeded all expectations.
Make no mistake, the next operator will be able to increase the turnover and bottom line, further this motel is of unbelievable value, a fraction of replacement value, less than the cost of many homes, yet offering an income, lifestyle and home.
Rated no 1 accommodation complex in Queenstown, a quality website with online booking facility, cost-effective well equipped on-site laundry, an attractive licensed restaurant with a commercial kitchen.
If you ever thought you may not be able to afford a quality motel, then you are wrong, don't hesitate, this will not last.
For further details on standout opportunity phone Paul Scott on ---------- or email ---------- Praveen Pant on ----------
INTENDING PURCHASERS TO MAKE THEIR OWN INVESTIGATIONS AND ENQUIRIES IN RELATION TO THE BUSINESS AND NOT TO RELY UPON WARRANTY OR STATEMENT MADE BY THE VENDOR OR BY ANYONE ON HIS/HER BEHALF; Please Note: All figures quoted are approximate
Business Summary
Key Investment Insights
1. The motel has a high occupancy rate and a strong financial performance, with an adjusted net income of $430,000 for the whole financial year.
2. The property is well-maintained and has recently undergone improvements and renovations.
3. The motel has a high level of customer satisfaction, as evidenced by winning the 2021 Travellers' Choice Award from Tripadvisor.
4. The location of the motel in Queenstown, a popular tourist destination, provides a strong potential for growth and increased revenue.
5. The addition of 100 solar panels and 27 split systems in April 2022 will result in lower operating costs and potentially higher profits.
6. The motel has a licensed restaurant that is currently leased out, providing additional income opportunities for the new owner.
7. The property is rated as the number one accommodation complex in Queenstown and has a well-designed website with online booking capabilities.
8. The motel is priced at a fraction of its replacement value, making it an attractive investment opportunity.
9. The current owners have been selective in their bookings, leaving room for potential growth and increased occupancy.
10. The property offers a combination of income, lifestyle, and home ownership for the new owner.
