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Sold on 1 May 2018

34 Lower Road New Norfolk TAS 7140

  • Hotel / Leisure
  • 4,000 m²
  • Sold

Large motel complex with adjoining recreational facilities

Located in the beautiful rural township of New Norfolk, 32 kilometres north-west of Hobart.

This large motel complex was originally built in 1961 as the nurses quarters for the Royal Derwent Hospital.

From 2013 to 2016 the property was totally refitted and refurbished to provide a new large 3.5 star facility, which is fast becoming the number 1 accommodation provider in the whole of the Derwent Valley.

Includes 60 motel rooms, reception and office, lift foyer, breakfast/dining room, lobby, guest lounge, gymnasium, billiard room, guest laundry, manager’s residence and plenty of on-site parking.

Also included in the sale is an adjoining undeveloped building which was formerly the recreation centre for the nurses and comprises of a large dining room, private dining area, 3 conference rooms, a commercial kitchen, a basketball court, a 300 seat
cinema, a large fully equipped gymnasium and swimming pool courtyard. (The Vendor is offering completion of the renovations of this area for a further $900,000).

This is a huge amount of real estate for the price and has outstanding potential to develop further into a real showpiece for New Norfolk.

The whole complex comprises of 2 titles on a land area of 1.593 ha (approx).

The business opened in October 2016 and is on target to generate an annual
income of around $300,000 in their first year through tourists, workers,
government departments, backpackers and fruit pickers. At present the income is only from accommodation and breakfasts, but the property has HUGE
POTENTIAL for bars, food trade, functions, conferences, weddings, meetings, and the possibility to open up the recreation areas for townsfolk.

It is no secret that tourism is booming in Tasmania, particularly in Hobart. There are currently 1.17 million visitors per annum and the State is on target to achieve the Tourism Tasmania goal of 1.5 million visitors by the year 2020.

The Hobart Airport runway is being extended so as to handle larger planes and create new direct flights for the Asian market, particularly the Chinese sector.

Property Highlights

Property ID2013405863
Date Sold1 May 2018
Floor Area4,000 m²
Land AreaAsk Agent
ParkingAsk Agent
Category
Last updated  22 Jun 2018
Map for 34 Lower Road New Norfolk TAS 7140
Knight Frank - Tasmania
5 Victoria Street Hobart TAS 7000

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