Strahan, Tasmania
When Value Counts 23 Self-Contained Apartments t/o $800K 9 Titles $2.45m 2023 net $367,000
$2,450,000
Business Description
Long established business, current owners 38 years, well below replacement cost, representing exceptional value and showing an excellent ROI, with plenty of upside to be had.
Superb 23 self-contained apartment complex is well presented, in excellent condition, comprising 14 x 2- bedroom and 9 x 1-bedroom apartments, set in landscaped surroundings. The owner's attention to detail and cleanliness, friendly service and tourist information has resulted in glowing reviews of 8.2 on Booking.com ( 490 reviews) and 8.8 on Agoda.
Marsden Court Apartments, located in Strahan, represents an excellent investment; to operate as overnight accommodation, permanent lets or a strata/subdivide opportunity as there are currently 9 titles.
Centrally positioned reception/office, motel, and guest laundry, beautiful gardens with native trees, roses, and rhododendrons.
All units are fully furnished, as are both laundries, and split system air-conditioners in all units. Management software in place, no restaurant, total land area of approximately 12,500 m2 ( subject to boundary adjustment).
Sealed road access, electricity, town water, telephone, and sewerage all connected.
Will consider selling the Sharonlee component for o/o $1,095,000 (10 x 2 bedroom, 1 x 1 bedroom apartments, and 8 titles ) and Marsden Court on the other side of the road for $1,395,000 ( 8 x studio rooms and 4 x 2 bedroom apartments)
An opportunity to purchase a home and a substantial income in one of the most beautiful coastal towns in Tasmania. Strahan is a thriving tourist destination with Macquarie Harbour a salmon fish haven. Gordon River cruises, the Abt Railway, the rugged features of the West Coast, the historical convict past, and the Huon pine industry, all contribute to the uniqueness and popularity of Strahan.
This is a standout opportunity, where the value of the bricks and mortar exceeds the asking price.
Please contact Paul Scott on ---------- or Praveen Pant on ---------- email: ----------
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
Key Investment Insights
1. Well-established business with current owners of 38 years.
2. 23 self-contained apartments in excellent condition.
3. Strong financial performance with a turnover of $800,000 and a net profit of $367,000 in 2023.
4. Exceptional value and ROI, with potential for further growth.
5. Positive reviews on popular booking sites.
6. Potential for different types of operation, such as overnight accommodation, permanent lets, or strata/subdivide opportunity.
7. Centrally located with reception/office, motel, and guest laundry.
8. Beautifully landscaped surroundings with native trees, roses, and rhododendrons.
9. Fully furnished units with split system air-conditioners in all units.
10. Management software in place.
11. Opportunity to purchase separately the Sharonlee and Marsden Court components.
12. Located in a popular tourist destination with various attractions.
13. Sealed road access and all necessary utilities connected.
14. Potential for a home and substantial income in one of the most beautiful coastal towns in Tasmania.
15. Bricks and mortar value exceeds the asking price.
