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Dukes New Lease In Northam For Sale

Northam, Western Australia
Asking Price:
$695,000 (AUD) Furniture / Fixtures included
Sales Revenue:
Available on request
Cash Flow:
Available on request

THE BUSINESS (STRONG TURNOVER-IMPRESSIVE PROFITS)
This is an efficient and profitable business which at the recently reduced asking price now demonstrates an attractive ROI which is well above that normally available to a buyer in the motel / hospitality sector.

You will not find a better presented business or better priced opportunity than this in WA. If you are a genuine buyer of a strong and profitable motel / hospitality business contact us now as this will not last.

This outstanding property offers unequalled accommodation, hospitality and conference facilities for this busy regional hub. The accommodation enjoys occupancy rates of approximately 80% throughout most of the year. This in combination with a strong bar and bistro provides a profitable and secure trade mix for the business. Given that the available rooms are over- subscribed on most week days there is also significant potential to further develop this aspect of the business on the adjoining vacant land. This land is also the property of the Dukes Inn hotel owner. He is prepared to discuss with the leasehold operator various options for the development of this land to incorporate additional motel rooms to further expand the current business (see further details below).

THE HISTORY
The Dukes Inn Hotel was fully refurbished in 2013 and was a finalist in the Western Australian Heritage Awards that year.
The original Stables were then fully restored and converted in to a unique and impressive accommodation facility. The stables were a finalist in the 2015 heritage awards.
Following restoration and refurbishment of the Dukes Inn Hotel and the Stables, the Chalets were then built on site. The chalets comprises 3 separate blocks of modern studio and apartment style self-contained accommodation rooms.

In summary the accommodation facilities comprise
THE HOTEL:
• 13 x bedrooms with no ensuite
• 2 x bedrooms with ensuite's
• 1 x 2 bedroom family apartment
THE STABLES :
• 1 x double room with ensuite
• 1x deluxe queen room with ensuite
• 2 x 1 bedroom apartments incl lounge and kitchen facility
• 1 x 1 bedroom two storey townhouse with separate bedroom lounge and kitchen facility
• All of these rooms have modern high quality fit-outs
THE CHALETS :
• 6 x studio style one bed rooms with kitchen/dining facilities
• 6 x large deluxe studio rooms
• All chalets have separate entries and modern high quality fitouts
OTHER PROPERTY FEATURES :
• Full Tavern Licence
• Separate entrance and reception area
• Fully equipped bistro and sports bars
• Separate Conference/Function Room
• Unique paved and landscaped outdoor garden entertainment area with separate bar
• Gas BBQ and alfresco area
• Fully equipped modern laundry
• Attractive and profitable trade mix over accommodation, food and beverage sales

ADJOINING VACANT LAND
• This offering can include the vacant land immediately adjacent to the Dukes Inn
• Demand at the business frequently exceeds availability of rooms
• The vacant land provides the opportunity for a new owner to increase the room capacity and further develop this already substantial business.
• The owner is open to discussions with the leasehold operator of the existing business to develop this land with additional accommodation.

LEASHOLD OFFERING
The Seller is prepared to offer a new lease of the existing business on the following attractive terms :
• Initial Term : 10 Years
• Options : 2 x 5 year options ( total lease term of 20 years )
• Price : $695,000 psav ( Furniture , plant , equipment and goodwill of existing business)
• Annual rent : $140,000 ( plus usual outgoings)

Property information

Real Estate:

Lease

Lease Terms:

• Initial Term : 10 Years
• Options : 2 x 5 year options ( total lease term of 20 years )
• Price : $695,000 PSAV ( Furniture , plant , equipment and goodwill of existing business)
• Annual rent : $140,000 ( plus usual outgoings)

Leasehold Rent:

$140,000 (AUD) per annum

Business Operation

Trading hours:

7 days a week

Contact Information

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