LEASEHOLD MOTEL FOR SALE- Close to Canberra Airport

17 days ago

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Internal Ref: 14878

Summary

Description: Major corporate leasehold Motor Inn close to the Canberra Airport. Long term lease with plenty of upside for future growth. Excellent function and convention facilities with plenty of...

About the Business

Description: Major corporate leasehold Motor Inn close to the Canberra Airport. Long term lease with plenty of upside for future growth. Excellent function and convention facilities with plenty of parking. Ideal business for 2 couples of family business. Serious vendors will consider all reasonable offers. Has committed elsewhere.

AAA Rating: 3.5 star

Construction: 63 units + 5 apartments (management rights). Two storey concrete construction with cliplock roof and concrete wall partitions. Medium to large rooms. Potential to be outstanding property. Well maintained. Inspects Well. Needs some work. Prime location.

Age: Opened 1984 approx.

Clientele: Government workers, reps, tourists, groups and sporting teams.

Residence: 3 bedroom, 1 with built-ins, lounge, dining. Spacious family residence. Plenty of room for family of 4. Very comfortable.

Land Area: 21,000sqm approx.

Tariffs: Standard from $99; Twin from $119; Family from $125; Exec from $139; Premier Suite from $169

Chain Affiliation: Yes

Laundry: Full commercial. All linen done on-site. 2 changes.

Restaurant: 230 seat licensed.

Services: Room service breakfast and dinner, reverse cycle air conditioning, indoor heated pool, convention facilities for 400, tennis courts, playground, fire rated.

Lease: 9 years remaining - Extension possible. Rent: $395,434 per annum inclusive

Turnover: $1,419,330.38 2016/17 - $1,625,611.87 2015/16; Adjusted Net: $221,060 2016/17 - $260,000 2015/16

MQ Property ID:
3505115


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