Town Centre Investment Motel For Sale

Business description

Description: Town centre motel. Short walk to club, shops and cafes. Close to ACT. Strong year round trade. All rooms refurbished. Very happy tenant with no problems.

AAA Rating: 3½ star

Construction: Brick single level with iron roof and brick wall partitions. Large spacious rooms. Well-furnished and recently repainted.

Residence:4 bedroom period house with high ceilings, lounge, dining, back office, bathroom, share motel kitchen. Very comfortable.

Age: 30 years plus approx.

Clientele: Corporate, tourist, sporting trade, local workers.

Land Area: ½ acre (2000sqm approx.)

Tariffs: Single $90 - $120; Double $90 - $130; Extra Person $20.

Chain Affiliation: Special rates

Lease: 21 year term remaining. Rent $165,000 net of GST.

Laundry: On site. Linen done by tenant.

Restaurant: No – close to club.

Services: Room service breakfast, covered parking, broadband, ISD STD, air-conditioning/heaters.

Turnover: $660,000 as advised by tenant.

Occupancy 68% approx.

Comment: Town centre motel. Best trader in the area. Very happy tenant in place with 21 year term remaining. Strong 9% yield offered with CPI increase.

Property information

Real Estate:

Real Property Included