Alexander Cameron Motel And Apartments
ALEXANDER CAMERON MOTEL AND APARTMENTS PENOLA South East South Australia. Freehold and Business.
Outstanding and unique rare offering. Motel constructed 2003.
An opportunity exists to purchase this quality Multi Award Winning Freehold and going concern business. Consisting of 18 spacious ground floor motel units with additional 3 BR cottage built in 1916 utilised as bed and breakfast and conference facility. A Residential Liquor Licence applies and the Motel is within easy walking distance of Hotels and the Boutique Restaurants the Town of Penola has on offer.
Opportunity for further development with available land on site plus availability of adjoining land to add to the the 6292sm property. (Subject to Council consent) Current footprint occupies just 1150sm.
Centrally located 50 kms from both Mount Gambier and Naracoorte and 20kms from the Victorian border, Penola is in one of South Australia's prime tourist regions adjoining the Coonawarra Wine District.
This low maintenance operation currently run under management and maintaining good occupancy of over 60% with substantial income generated from accommodation only. It provides a good mix of Tourism and Corporate trade alike with a 55% 45% split. Further income could be generated by supplying breakfasts.
Spacious 3 BR manager's residence with kitchen lounge private yard and undercover parking.
This is a must see property. An inspection is highly recommended to appreciate the excellence. You may also like to visit the website www.alexandercameronsuites.com.au
2017 turnover of $576,000. Estimated 2018 turnover is above $600,000 with adjusted net profit for an owner/operator of approximately $350,000.
Priced below replacement cost at $2,500,000
Further details available from Brenton Carson 0419 820 729
or Ron Whitford 0412 584 331
or Office 08 8752 1933
A confidentiality agreement will be required.