Tasmania REGION

GREAT LOCATION, ADVISED T/O >$1.6m for FY 2023, 40 UNIT MOTEL WITH LONG 40 YEAR LEASE, O/O $995,000

SOLD

Business Description

Financially rewarding motel, that has bounced back after Covid with increasing month-on-month turnover. Occupancy for the next few months is above 83%.

Forward bookings till April 2023 of more than $300,000 (and increasing every day) Overlooking uninterrupted extended views over Launceston and the Tamar valley.
This 40 rooms Motel on five acres of manicured gardens is situated in Launceston city and en route to Casino, Silverdome, and Launceston General Hospital.
Situated a mere 12 minutes drive from Launceston Airport, it also is a convenient stopover for travellers inbound and outbound through Tasmania's northern gateway.

The motel has a strong income stream derived from tourists coupled with a long list of repeat customers, tour groups, school sporting teams, and corporate guests.

Variety of room configurations from standard rooms to self-contained apartments. It also has a 3-bedroom manager's residence. Offering an Indoor swimming pool with spa, sauna, kids games room, playground, and guest laundry. It also has an onsite laundry and multiple store rooms scattered across the motel.

There is also a fully licensed bar and huge restaurant (80 sittings), currently, not trading but can be used as a great opportunity. A huge commercial kitchen has 2 areas that can be used for a general restaurant, and another area has a wood fire oven (Morello Forni) imported from Italy. Offering huge potential to increase revenue by re-opening the restaurant or sub-leasing.

Currently running on 100% management with one owner only overseeing the operations and working 2-3 days in a week. This business would suit anyone wanting to keep the business under management or a family or husband-wife team. This business doesn't require any prior qualification but only passion. Being sold with the security of an extremely long lease of 40 years on a 34% ROI based on 2022 financial year net profit.

Serious money-making motel, with upside to be enjoyed by opening the Restaurant, Bar and Pizza area or simply sub-leasing.
Outstanding business opportunity for someone wanting to enter this industry or a seasoned operator or someone wanting to increase their portfolio and keep it under management, then look no further.

Contact Paul Scott email: ---------- ---------- or Praveen Pant ---------- 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. NOTE: All figures are approximate.

Business Summary