Taree, New South Wales

1288ML - LARGE REFURBISHED LEASEHOLD 45% RETURN ON INVESTMENT

LEASEHOLD $675,000 + SAV

Property Description

- 28 refurbished rooms with viable configurations to meet both corporate and leisure clientele

- The property is superbly located close to the CBD and offers the most significant room volume in town

- You will note in the information memorandum significant investment throughout the property in the past 12 months.

- Significantly this sets this long-term lease prospect of 34 years for instant commercial benefit indefinitely

- Your fully renovated reception area creates a perfect first impression for guests and provides an efficient workspace environment for operators or staff

- The ground floor operation provides ease of manageability for the incoming operators

- Restaurant 33 on Main has a fully renovated kitchen, new flooring; with a brand-new grease trap installed. Seating 26 diners only, with small friendly bar and can multitask as a small local conference/meeting facility. It is staffed with one chef on contract and one wait staff.

- The owner’s residence is attached to a large open living and dining area. Upstairs has two bedrooms and one bathroom. Room one attached to the residence and may be used as an additional room pending the purchaser’s dynamic.

- High repeat corporate guests are returning in droves post refurb.

- Revenue 2020/21 – YTD $815,519 (11 months) - 78.44% occupancy

Tourism Brokers is excited to welcome to market a significant 28 room fully refurbished leasehold interest prospect. Your further inquiry and inspection will assist you understanding your commercial upside and lifestyle change if you will.

From effects of bushfires and pandemics no doubt the 19/20 FY created a difficult false economy for all. However, the opportunity was taken to fully refurbish this property, set to benefit the new recipient.

Trade is BOOMING past previous normal periods which is set to continue along with the existing travel growth predicted to continue for years to come.

Net Profit: $300,750 plus expected for 2020/21


Contact James Carrick from Tourism Brokers for further information or to arrange an inspection.

Property ID: 1288ML (quote when enquiring)

Location: One of the major towns on the rivers of the NSW Mid North Coast, Taree is idyllically situated on the Manning River. It is a big, modern, attractive town servicing the surrounding rural industries and driven by the tourists and travellers who pass through the town. It is located 16km inland from the mouth of the Manning River and consequently has tended to develop more as a service centre and stopover point than as an actual tourist destination.

Today Taree is a successful rural centre sustained by a wide range of activities including dairying, a timber industry, leather goods and engineering works. Taree CBD, centered along Commerce Street, together with shopping centre development to the west, provides a broad range of retail and commercial facilities. The town has a full complement of community facilities including a hospital and rail and airport access. The town also serves as a regional centre for other coastal towns in the Great Lakes Shire, being Forster and Tuncurry, approximately 35km to the south-east.

Property Code: 3667

Property Summary

Motel Information

Marketing Agent
James Carrick
James Carrick

Listing location
Gallery

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