A soft refurbished and upgraded property with a fresh 25 year lease. A foot in both camps of accommodation and food. Both parts performing brilliantly, with a strong cross over yield. Self-rated 3.5 star.
Ballarat remains one of the top regional motel towns. A town stacked with industry with more arriving each month. A town with both corporate and domestic tourism exposure. Proximity to Melbourne is a bonus. A travel distance favoured by the domestic client.
A true goldilocks property. Just right!
Buyers are reminded that under Victorian legislation, there is no stamp duty on leases, landlords are responsible for their own land tax, and compulsory market reviews can see rents come down.
Net profit $275,122 for 2015/16
Contact Reg Partington and Annette Adams from Tourism Brokers for further information or to arrange an inspection.
Property ID: 1844ML (quote when enquiring)
Location: Strategically located in the Central Highlands Region of Victoria, Ballarat is approximately 110km north-west of Melbourne. It is one of the largest inland cities in Australia, with a population of over 88,000 within the municipality.
Ballarat is in a key strategic position at the centre of some of Victoria's most important freight, tourist and commuter transport routes. The four main highways radiating from Ballarat connect it to Industrial centres such as Melbourne, Adelaide, Geelong and Portland; regional locations like Bendigo and Mildura; and agricultural areas in the Mallee and Wimmera.
Ballarat has traditionally been a city that prospered on mineral and agricultural based resources, however this has changed. Manufacturing, tourism, health and community services, education and retailing are now the key industries in the city. These industries, along with the banking and finance sector and government services are strengthening Ballarat's role as a regional service provider.
Ballarat is one of Victoria's premier tourist destinations attracting visitors for the gold and architectural heritage, parks and gardens, art and cultural activities and as a gateway to western Victoria. Approximately 1.8 million domestic day trip visitors come to Ballarat each year.
Property Code: 2324
