An opportunity to acquire a thriving business in a blue-chip location does not arise often. Currently, trading as 'Cooks Endeavour Motel' with a track record of phenomenal returns ($500k+ nett 21-22 FY under management), this completely renovated Motel in Greenbank is ready to purchase. It has been owned by experienced motel owners who have renovated and created low-maintenance accommodation that can be run by yourself, a family group or easily outsourced to an employed manager which is how it's currently being operated.
We urge developers to consider this opportunity with a large footprint of 1859 m2, a height limit of 22m and double street frontage. It is extremely rare to find a development opportunity with a holding income. While the planning and DA process are in place, this is an asset that can run seamlessly without owner involvement.
Another possible option for the Motel is a personalised fit-out to attract a diverse range of clientele. It's said that 2022 is the year of the "backyard holiday", the year we overpack our cars with surfboards, fishing rods and footballs and hit the highway in a bid to explore what our glorious country has to offer. There are a handful of boutique motels in Australia that are thriving in this current environment and our area certainly has an opening for one.
Please get in touch for a full memorandum including financials for this exceptional Greenbank opportunity.
MOTEL PROPERTY FEATURES:
- 15 self-contained units
- 6 motel rooms
- Extensive renovation
- 1 x 4 bedroom, 2 bathroom family residence
- Existing commercial kitchen
- Inground pool and BBQ facilities
- Green footprint operations (extremely low running costs)
- Land held under two titles
- Freehold Going Concern
REDEVELOPMENT INFORMATION:
- Zoning - R3 Medium Density
- Land - 1859 m2
- Height Limit - 22 metres
- Frontages - Frances & Mcgregor Street - 36m
- FSR - 1.8:1 (3346m2)
Disclaimer: All information provided has been obtained from sources we believe to be accurate, however, we cannot guarantee the information is accurate and we accept no liability for any errors or omissions (including but not limited to a property's land size, floor plans, and size, building age and condition). Interested parties should make their own inquiries and obtain their own legal advice.
*Property not affected by recent weather system
