Wangaratta, Victoria

Investment $4,300,000

Property Description

2577MI - 8% Net Return on Motel

Offering a strong upside, this is the first time the property has been offered to the marketplace since 1981 and is currently run under management.

- Outstanding opportunity

- New Lease with CIP increases

- Corporate tenant

- 28 motel units and 10 apartments.

- Commercial kitchen.

- Conference area.

- Chargeback facilities in place with five restaurants.

- Swimming pool and barbeque facilities.

- Extensively renovated three bedroom owner's residence.

In a very diverse, high growth and business trading area, the property is 500 metres from the city centre, two blocks from the railway station, one block from the Performing Arts Centre and 1km from the start of the Murray to the Mountains Rail Trail.

The business is proven, established and reliable with a significant loyal return market.

Annual Rent: $344,000 plus GST

Contact Michael Philpott from Tourism Brokers for further information or to arrange an inspection.

Property ID: 2577MI (quote when enquiring)



Location: One of Victoria's most geographically diverse and scenic regions, the Rural City of Wangaratta offers a blend of city life and welcoming villages, native bushland, pastoral landscapes and snow-capped peaks. There are over 27,100 residents living in the Rural City of Wangaratta, 17,000 of whom live in urban Wangaratta.

The bouyant regional economy provides employment opportunities across a wide range of industries including manufacturing, trades, retail, agriculture and the health and community services industry. The small towns support industries such as viticulture, agriculture, horticulture and tourism. Opportunities within niche markets, based around these industries, abound throughout the Rural City of Wangaratta.

The rich agricultural land surrounding Wangaratta yields gourmet produce and world-class wines, making this region a paradise for food and wine lovers. The regional economy is exceptionally diverse. Wangaratta is home to major manufacturing, transport and distribution activities and is the regional headquarters for several state government agencies.

Property Code: 3154

Property Summary

Motel Information

Restaurant Facilities: -Liquor Licence: -Restaurant: -Lease: -

Marketing Agent

Michael Philpott

Marketing Agency

Tourism Brokers

Michael Philpott
Tourism Brokers

Phone

Listing Tools

Property Map

Map Location ( get directions )

Wangaratta, Victoria 3677 Exact map location not provided

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