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 26 years lease in one block expiring at the end of November 2045.
It comprises 25 units with a selection of studios, 1 BR and 2 BR and a Conference Room.
The current lessee has spent a lot of money in the last 2 years to upgrade the complex.
New heat pump in every unit, new vanities, all new beds, fridges, etc....The list is long...
It offers a new spa pool and a revamped swimming pool (with the added bonus of 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 part-time solo owner ( administration role mostly ) and a full time on site manager it would ideally suit one or even 2 couples or could be easily operated under full management. A business of this size offers many options to a potential buyer.
The managers' residence is a comfortable and well appointed 3 bedroom apartment above the reception area.
Asking price : $1,600,000 + GST if any.