Current owners are already living in retirement, so offering a ridiculous opportunity for a sale below the value of the assets and stock being offered.
Freehold of a central Longreach commercial property with opportunity for development plus a 126 yr old successful General Department store and Newsagency. Business assets include a VW Caddy motor vehicle and the sale will also come with current stock holding in the shop.
Values of all the property and business assets are estimated circa $1M effectively realising a sale opportunity here below the tangible asset costs.
Returns on this investment are impressive.
With current saleable stock circa $260k the property and other business assets are being acquired for circa $640k well below their market value and so affording a business ROI on the business and Property package of circa 22% on previous financials without considering the potential Capital Gains that could be available on the freehold property.
This acquisition including the freehold ensures finance should be easier to secure as the Freehold property valued in 2020 had a value of $735k to secure borrowings against.
All those estimates are on the staff managing the daily shop running and so could be further improved if a new owner was seeking to locate in Longreach and work the store management themselves.
Licenced retailer for:
LEGO
Lotto
Golden Casket
Phone Cards
Office Choice Office Supplies
Newspower
Key Business Points
*Diversified incomes! No longer a newsagency now a true regional department store filling the retail void that specialist retailers can not do in regional towns.
*Great staff. Current owners have trust and faith in the staff able to run the store.
*Only selling for retirement
*Sale offered at below current asset values!
Exclusive listing - contact Tony Hancock or Paula Hamer to begin your enquiry.
