Internal Ref: CB1497
Summary
SBX Code: CB1497 - Managed by Real Estate Property manager with strong demand for accommodation with Snowy Hydro 2 project.
Rent
$0 pa
Net Profit
$309,260 pa
Employees
Real Estate Agency with Property Managing contract, and tradesmen and labour as required.
About the Business
Accommodation Complex - Freehold - Under Management - 20 Units. - Snowy Mountains
SBX Code: CB1497
Freehold accommodation complex, formerly operating as a motel, now utilising the accommodation units on long-term lease agreements. The accommodation is presented as a mix of 2 x 3 bedroom detached villas and 7 x 2 bedroom detached villas. A separate two level building houses accommodation consisting of 2 x studio apartments and 7 x 2 bedroom apartments on ground floor, with 2 x 2 bedroom apartments on upper floor. All villas have lock-up garages and hot water is supplied by separate units. A large separate building was previously used as reception and 200 seat restaurant , and is now utilised for private use. The site is freehold, in 4 lots, and covers 13930 sqm and has all town services connected, including water and sewerage, with zoning R1 - General Residential. The majority of leases are 2 years, with remainder 1 year.
Features
Excellent location, with frontage to main road, and only 1.5 km from Cooma CBD.- The business model assures a steady long term income with minimal expenses and labour costs.- The property is managed by a Real Estate Property manager.- Strong demand for accommodation with Snowy Hydro 2 a long term project.- A 6,000 sqm portion of the site, on separate lot, is not utilised, and with an 60m frontage to the main road presents as a possible development project with medium density accommodation.
SBX Code: CB1497
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