Sale, Victoria
LARGE LEASEHOLD OFFERING STEADY INCOME WITH UPSIDE - ID 1854ML
SOLD
Business Description
This lease will provide the new operator the opportunity to settle in whilst earning a consistent income due to a contract to house farm workers that was procured during COVID. This also reduces your workload and expenses whilst coming up to speed with the business.
It is being offered to the market at a 49% ROI on projected figures.
Currently offering:
- 2 acres of flat land.
- 3 bedroom owner’s residence.
- Separate 1 bedroom apartment (for staff or extra guests).
- 30 rooms of varying configuration housing to up to 112 worker.
- Closed restaurant and huge conference or events centre.
- Low maintenance grounds with no pool to look after.
- LEASEHOLD MOTEL
The previous property owner had undertaken renovation work to 16 rooms in 2012. The current owners have now done further extensive renovations and improvements in 2021 including costly external work such as painting, landscaping and new signage. They have also renovated the residence and onsite guest laundry. Internally, the rooms have been painted, they have replaced most of the televisions and air conditioning units, replaced lighting, renovated some bathrooms, bought new linen and curtains and replaced several hot water systems.
Notwithstanding the above, with both the restaurant and conference centre closed, the opportunity may be there to open them and run as a sideline business to the workers offering a new income stream.
The property presents as a strong 3.5 star and is primed to continue the turnover growth both with the workers and in years to come with regular tourism and corporate guests.
The choice is yours the way you operate the property, and the sky is the limit. What a wonderful position to be in!
Net Profit: $291,830 projected for 2022/23
Contact Tony Johnson from Tourism Brokers for further information or to arrange an inspection.
Property ID: 1854ML (quote when enquiring)
Location: Located in the centre of Gippsland, Victoria approximately 260 kms east of Melbourne, Sale is the gateway to East Victoria, the Gippsland Lakes, 90 Mile Beach, mountains and many other exciting tourist destinations. Sale has a population of close to 14,250, projected to increase to over 14,000 by the year 2021. Part of the Wellington Shire, Sale has a diverse industry including agriculture, retail and professional services, and companies including the Esso (Longford Gas Plant), Nylex Plastics Factory and the East Sale RAAF base. The city has a major regional hospital, five major banks, eight service stations, seven pubs and nightclubs, many places to stay and three major supermarkets. Sale's main street has over 180 shops including all major banks, many alfresco dining cafes and food outlets as well as convenience stores and service providers. The Gippsland Centre shopping complex with major national and regional retailers is located adjacent to the street.
Property Code: 4176
Business Summary
Key Investment Insights
1. Leasehold property with steady income and potential for growth.
2. Contract to house farm workers secured during COVID, reducing workload and expenses.
3. Offered at a 49% ROI on projected figures.
4. 2 acres of flat land with 3 bedroom owner's residence and separate 1 bedroom apartment.
5. 30 rooms of varying configuration, housing up to 112 workers.
6. Closed restaurant and large conference or events centre.
7. Low maintenance grounds with no pool to look after.
8. Extensive renovations and improvements done in 2021, including external work and updates to rooms.
9. Potential to open restaurant and conference centre for additional income streams.
10. Strong 3.5 star property with potential for continued turnover growth.
11. Located in the centre of Gippsland, a popular tourist destination in Victoria.
12. Diverse industry in the area, including agriculture, retail, and professional services.
13. Close to major regional hospital, banks, and supermarkets.
14. Adjacent to a major shopping complex with national and regional retailers.
15. Property code: 4176.
