Motel In New England Mining Area For Sale

Business description

Description: Busy New England Mining Area. New long lease. Limited accommodation in the area. Huge potential with food and beverage.

AAA Rating: 3 star

Construction: Brick, concrete and timber. Iron roof. Two storey. Turn of the century property which has been converted into a motel. Medium sized room, all with ensuites. Modern 3 star fit-out.

Residence: 3 bedroom, 1 with ensuite, own kitchenette, lounge, dining, bathroom, laundry. Separate kit home at the rear of the property. Very comfortable. Ideal for family.

Age: Built 1903

Clientele: Rep & mining trade mainly. Some weekend business.

Land Area: 2500sqm approx.

Tariffs: Single $69 - $89; Double $69 - $99; Deluxe $99; Extra person $10

Lease: New 25 year term. Rent $75,000.

Laundry: On-site commercial. All owned.

Restaurant: 100 seat with licensed bar (not used)

Services: Room service, lounge area (TV), microwaves and toasters in all rooms.

Turnover: $323,000 2010/2011

Occupancy: 70% estimate

Comment: BHP have completed all provisional work for new mine which will open in the area. The area is growing strongly with all the infrastructure and new businesses. The property is town centre location and is a great opportunity to increase income by tariff increases and opening the restaurant.

Property information

Real Estate:

Lease