Glen Innes NSW 2370

$880,000.00

FREEHOLD MOTEL – LARGE HIGHWAY EXPOSURE - NEW ENGLAND HWY (NORTH EAST NSW)

Phone enquiries - please quote property ID 27976.

Are you sick of lockdowns in the big cities due to Covid 19 along with all of its restrictions? This is your opportunity to buy a business with substantial income, a house and a country lifestyle away from the city rat race, well under one million dollars.

Selling freehold, this boutique motel is set on a huge block of 5564sqm with approximately 90m highway frontage. The motel is situated on the intersection of two major highways in a major prosperous rural town. Established for years, this motel offers short-stay accommodation to travellers and sometimes workers for local projects.

The motel is currently run under management with good profits for the owner. A new owner could continue to run under management or ideally, would suit owner operation (perhaps a couple or small family).

It has 13 rooms, all with queen pillowtop beds, a mixture of twin rooms, family rooms and queen double rooms. All rooms are equipped with TVs, microwaves and bathrooms. 4 of the suites have undergone refurbishment over the last few years. The brick veneer building also accommodates a 3 bedroom residence, a large commercial kitchen and a laundry with a new speed queen dryer. There is undercover car parking to accommodate all guests. Pre-covid, the motel offered breakfasts in the dining room (capacity for 25) but have since switched to complimentary breakfast in the suites. There is a 26kw solar system to keep electricity cost significantly down.

Choice for new owner would be to offer full dining for breakfast, lunch and dinner plus open it to the public, as there is a huge commercial kitchen with full rangehoods/grease traps etc already in place. Being close enough to town a full restaurant could be considered. Further facilities include the office / a sitting area, 2 laundries and a comfortable 3 bedroom residence with access to the kitchen for the owner/manager.

All set on a huge block with beautiful gardens and very pleasant surroundings.

OPPORTUNITIES/FURTHER POTENTIAL
* This freehold purchase provides many opportunities for the new owner:
* Continue to run under management.
* Run as owner-operator (pocket more money)
* Extend the building to house more motel suites (increase the turnover)
* Open the restaurant to the public
* Develop (STCA approval required) - Currently zoned ‘Enterprise Corridor’ – allowing many more opportunities.

First and foremost, the FREEHOLD is for sale with the business, however, the owner may consider selling the business only with a 20-30 year secure lease – Sale price of the business would be a circa of $150k-$200k) – Annual lease would be negotiated.

Alternatively buy the freehold at this very reasonable price.

It should be noted as there is plenty of lands to expand or develop further accommodation rooms, glam tents or perhaps a restaurant etc. All subject to council approval.

Enquire today to find out more.

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Property Details