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87 Napier Street St Arnaud VIC 3478

  • Hotel, Motel, Pub & Leisure
  • 1 m²
  • For Sale, Freehold with Vacant Possession $599,000

Lamartine Hotel - 1P3889H

Lamartine is a prominently positioned hotel and restaurant business in the heart of St Arnaud. Formerly the Manchester Arms Hotel, Lamartine is one of four hotels in the former gold mining town.

The property has undergone extensive renovations in recent years the current operator focusing on the hotel's food and beverage offering and modernising the front bar/lounge area, dining room and commercial kitchen. Plans to refurbish the hotel's large rear beer garden are currently in effect the project's completion is due in coming months.

Further growth potential exists in updating the hotel's second storey accommodation which consists of several rooms with shared bathroom facilities and separate street access. Presenting an array of options including budget hotel rooms, boutique up-market accommodation, a spacious operator's residence or a combination of all three, the second storey has already been fitted with hard-wired smoke alarms and an existing compliant fire escape.

Finally, the property includes three separately titled retail shops currently leased to external tenants; each providing a rental return of approximately $7,800 per annum plus GST.

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Property Highlights

Property ID2014217397
Floor Area1 m²
Land Area1,339 m²
ParkingAsk Agent
Annual ReturnAsk Agent
AvailabilityVacant
Category
Last updated  17 Jun 2020
Map for 87 Napier Street St Arnaud VIC 3478
Map for 87 Napier Street St Arnaud VIC 347887 Napier Street St Arnaud VIC 3478
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  • Purchase Price

    $
    1,234,567

  • Deposit available

    $
    123,456

  • Loan term

    30
    years

  • Interest rate

    3.00
    %

repayments

$0/month*

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CRE Brokers
U4/10 Lakewood Boulevard Carrum Downs VIC 3201

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