$940,000 (25% yield on sale price)
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- 18 Oct 2016
MOTEL FOR SALE- FAR NORTH WEST
Description: Far North-west. Very strong worker & corp trade. Vendor says well. All serious offers considered. Well above market return offered. Real money maker.
AAA Rating: 3 star
Construction: Timber and brick single level with brick partitions and corrugated iron roof. 18 small to medium units, clean and well maintained. Good budget standard appointments. Older style with attention needed in some sections. New 32- USB recordable wall mountain LCD TV's in all rooms (except family room - has 2 TV's at 28-, one wall mounted one free standing). All rooms have brand new air-conditioners/heaters, mattresses, bar fridges and new gutters were also installed to the buildings within the last year as well as the exterior being fully repainted.
Residence: 1 bedroom with walk-in robe. Lounge/dining, bath/toilet, private yard, share kitchen. 1 bedroom but large area overall - joins reception.
Age: Built 1975 approx.
Clientele: Local working trade, travelling, government and corporate.
Land Area: 4610sqm approx.
Tariffs: Single $85; Double $85; Family (4) $150; Extra Person $10.
Chain Affiliation: No
Laundry: Full commercial. All linen owned and done onsite - very good to new condition.
Services: Breakfast room service/ packed lunches, DD phones, gas BBQ, in-ground pool, reverse cycle-air conditioning, microwaves.
Turnover: $372,543 2015/2016; $331,382 2014-2015; $334,029 2013/2014; $385,178 2012/2013; $410,506 2011/2012; $394,000 2010/2011;
Net Income: $232,683 2015/2016
Occupancy 80% plus approx.
Comment: Older style but in great condition. Strong trading figures in rich rural North-west town. Room for expansion on very large block.
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1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information