Wagga Wagga, New South Wales
MAJOR MOTEL INVESTMENT IN RIVERINA CITY WITH 15 SELF-CONTAINED UNITS - 1406MI
SOLD
Business Description
- 20 years remaining on the lease with market and CPI reviews allowing fairness for all involved.
- Brick and tile structure with good street frontage and street appeal.
- High proportion of return guests.
- Profile position with exceptional home as a residence.
- Wagga Wagga Regional location, very popular and in high demand with easy access to airport, CBD, Schools, Hospital, etc.
- Fantastic home rather than residence with room for expansion.
- Offering 15 exceptional motel units that are well proportioned, each with kitchenette. Opportunities like this are exceptionally rare.
- 4 kms south of the CBD near Lake Albert in the main residential growth corridor for this developing City; the property benefits from workers, tourists, golfers and travelers.
- A saltwater pool, barbeque areas and cabanas in a landscaped garden area make this property present extremely well and offers guests considerable value for their stay.
- This 7,540 m2 block also has room for further development, which is a big plus for the location.
- 1980 approximately construction.
- The tenants are doing very well and will be with the property for many years to come.
Annual Rent: $114,507.41 plus GST
Contact Michael Philpott from Tourism Brokers for further information or to arrange an inspection.
Property ID: 1406MI (quote when enquiring)
Location: Wagga Wagga is a vibrant regional City nestled on the banks of the magnificent Murrumbidgee River. Wagga Wagga takes its place as the capital of the Riverina region providing an exciting and yet relaxed lifestyle for residents and visitors. With over 60,000 people living in Wagga, it has the lifestyle and facilities to suit everyone. The surrounding area consists of properties dedicated to wheat-growing, dairying, mixed farming and fat lambs. It possesses one of the largest stockyards in Australia, as well as the Livestock Marketing Centre. With the Charles Sturt University and the Riverina Institute of TAFE, Wagga is an important regional education centre and, with the Kapooka Army Recruit Training Base and a Royal Australian Air Force base, it is also regarded as one of the country's major defence force establishments.
Property Code: 4346
Business Summary
Key Investment Insights
1. The business is a major motel investment located in a popular regional city in the Riverina region.
2. The property has a brick and tile structure with good street frontage and appeal.
3. The motel has a high proportion of return guests, indicating customer satisfaction.
4. The location of the motel is in a highly sought-after area with easy access to amenities such as the airport, CBD, schools, and hospital.
5. The property includes a spacious and well-maintained home for the owners to reside in.
6. The motel offers 15 self-contained units with kitchenettes, making it a rare opportunity in the market.
7. The property has potential for expansion and development on its 7,540 m2 block.
8. The tenants are successful and have a long-term lease agreement in place.
9. The annual rent for the property is $114,507.41 plus GST.
10. Wagga Wagga is a vibrant regional city with a population of over 60,000 and offers a relaxed lifestyle for residents and visitors.
11. The surrounding area is dedicated to various types of farming and has a large stockyard and Livestock Marketing Centre.
12. The city is also a major education and defense force establishment with a university and training bases.
13. The property is listed under Property ID: 1406MI and Property Code: 4346.
