5-13 Scotchtown Road, Smithton, Tasmania

Magnificent multi award-winning resort complex

SOLD

Business Description

Nestled in the heart of Smithton, Tall Timbers Hotel is a unique and picturesque complex that offers a serene and peaceful escape for locals and tourists.

This expansive estate, which spans over 10.73* hectares of lush pasture, lakes and creeks, is home to a range of facilities and amenities, including luxury accommodation, and dining options.

In addition to the 67 rooms and hotel facilities, the hotel offers a range of recreational activities such as 2 tennis courts, a gym, and a leisure centre with indoor heated pool.

Since 2005, the owners embarked on an expansion and renovation program costing over $5m*.

The figures are continuing their upward trajectory, with an increase in hotel occupancy, plus advantageous changes to the gaming legislation in July 2023. Current figures indicate 2024 projected revenue at around $7 million.

The hotel was constructed in 1990 and has been owned by the same family for 34 years.

There is little doubt that this multi award winning acquisition is a trophy asset and is in magnificent condition throughout.

The asking price of offers over $7,000,000 (plus stock) represents a room value of only $128,358 which is well below market for such a quality 4-star property.

*approximate

Business Summary

Marketing Agent

John Blacklow

Nick Bond

0414 39....

Elders Commercial

Key Investment Insights

AI generated. Confirm details with the seller.

1. Multi award-winning 4-star resort in the heart of Smithton, positioned to attract both local and tourist demand.
2. Large 10.73 hectare estate with pasture, lakes and creeks, offering a rare landholding and scenic appeal.
3. 67-room hotel with luxury accommodation and dining options, supporting room-based and F&B revenue streams.
4. Extensive on-site leisure facilities including an indoor heated pool, gym and two tennis courts, enhancing guest experience and ancillary spend.
5. More than $5 million invested in expansion and renovations since 2005, indicating sustained capital reinvestment and updated assets.
6. Proven revenue growth and increasing occupancy, with projected 2024 revenue of approximately $7 million.
7. Positive impact from July 2023 gaming legislation changes, contributing to improved financial performance.
8. Longstanding family ownership of 34 years, suggesting operational continuity and established local relationships.
9. Constructed in 1990 and reported to be in magnificent condition throughout, reducing immediate capital expenditure risk.
10. Asking price offers over $7,000,000 plus stock implies an implied room value of $128,358, stated as well below market for comparable quality, presenting a strong value proposition.