1697ML - Shows a Net return better than 40% on asking!
An outstanding Leasehold Motel of 30 oversized units and fully licensed restaurant/conference facilities. Plus a generous three bedroom residence set upon a spacious parcel of land with subdivision potential. The property has a private pool and barbeque area, and a separate triple garage/shed.
This property is not only an excellent business opportunity but also a spacious family environment with room for further improvement.
Net profit $222,474 for 2016/17 (as provided by vendor) after allowing for the rental of $170,000
For full financials please contact Michael Philpott and Peter McHugh from Tourism Brokers.
Property ID: 1697ML (quote when enquiring)
Location: Tumut is located 423 km from Sydney and 180 km from Canberra via the Hume Highway. The main access to the town is via Gundagai with roads going through both Gocup and Brungle. The Tumut River, which runs for 145 km before joining the Murrumbidgee River, flows along the edge of the town; the plains spread out on either side of the river; and the foothills of the Snowy Mountains rise on all sides.
The town is remarkably prosperous largely due to the success of the timber industry. Long term planting of softwood pine forest by the NSW Forestry Department has ensured a regular and reliable source of timber (unencumbered by any environmental problems) and this prosperity has seen the town become one of the most attractive medium-sized settlements in rural New South Wales. It is estimated that nearly 20% of the town's population now work either directly or indirectly in the forestry/timber industry.
Property Code: 2284