Be part of the booming Hospitality / Accommodation Industry and enjoy a fantastic lifestyle while getting an INCREDIBLE return. This Motel is now offered on the market. It is the second largest complex in the area and may be the most successful one. It comes with a 27 years lease in one block.
It comprises 25 units with a selection of studios, 1 bedroom and 2 bedrooms and a Conference room.
The current lessee has spent a lot of money in the last 2 year to upgrade the complex. New heat pumps in every unit, new vanities, fridges, etc... The list is long... It offers a new spa pool and revamped swimming pool (agremented by a heat pump as well) and plenty of space.
A few minutes' drive to the Beach, the City Centre and other amenities this Motel is just at the right location and is a great destination for families, corporate clientele and holidaymakers.
Currently operated and managed by one solo owner (administration role mostly) it would ideally suit a couple or could be easily operated under full management.
The managers' residence is a comfortable and well-appointed 3 bedroom apartment above the reception area.
Asking price: $1,600,000 + GST if any