Coonabarabran NSW 2357
- Hotel / Leisure
- 1 m²
- For Sale, Leasehold $690,000
1632ML - A Leasehold Motel That Ticks All The Boxes!
- 37 Units with Turnover in the mid $600,000's
- Showing a very healthy 37 % Return with attractive Rent ratio
- Long Lease Term
- 20 Units recently fully refurbished
- Walking distance to Bowls Club and Restaurant
- Great location on the busy Newell Highway
- Cooperative Landlord with Annual Rent reinvestment
- Contact us now for further details and to arrange you inspection!
This motel at Coonabarabran has got it all! It's a big 37 unit motel on the busy Newell Highway, within walking distance to a Bowls Club and Chinese Restaurant. The Turnover is consistently in the mid $600k's, theres a long 25 years left on the lease and it has a very attractive rent to turnover ratio.
Th units present very well and there is a good mix to cater for all clientele. The landlord reinvests $5,000 annually to assist in maintenance of the property.
It's a Leasehold that deservers your closest attention, but don't delay - good properties like this are scarce!
Net profit $255,795 for 2017/18
Contact David Head and Warren Sweetman from Tourism Brokers for further information or to arrange an inspection.
Property ID: 1632ML (quote when enquiring)
Location: Coonabarabran is home to more than 3,000 countryside dwellers and is located in Warrumbungle Shire in New South Wales. This peaceful town is known for its spectacular view of the mountain ranges that outline the area and is a popular gateway to the Warrumbungle Range and the Pilliga Forest. Coonabarabran is known for its Town Clock and for being the "Astronomy Capital of Australia" with close access to some of the largest telescopes in town. There are museums, caravan parks, observatories, and shopping centres in the area. Camping, stargazing, and sight-seeing can also be fun activities for the family.
Festival of the Stars in November is a month-long event celebrating arts and astronomy in Coonabarabran. Highlights include concerts, exhibitions and "Science in the Pub", where scientists debate hot topics in astronomy over a cooling ale.
Property Code: 3139
|Floor Area||1 m²|
|Land Area||5,570 m²|
|Annual Return||Ask Agent|
|Last updated||12 Jun 2019|