BARRIER REEF MOTEL INNISFAIL

Description

Off Market Hotels are please to present the leasehold offering of the Barrier Reef Motel. Asking price is $1,195,000. The 2020 financials show a relative downturn in net profit due to the covid restrictions on our clients travel and the restricted trading on our business operations. The figures for the six months ending December 2020 show a back to normal trading pattern, with T/O predicted to be over $1.2m.

Investment Highlights:

• • Lease tenure 21 years as at June 2021
  • 42 Rooms in total – Queens, twins, standard and Family
  • The external of the motel has been repainted in modern stylish colours, including the entire roof
  • All rooms have been repainted & fitted with block out curtains and screen blinds
  • This motel has been well maintained and presents well
  • Commercial kitchen, 50 seat open planned restaurant (indoor & outdoor) & Bar garden area surrounded by lush tropical gardens
  • Reception and ample office space
  • Front office system Starfleet Property
  • Commercial laundry and guest laundry
  • Plenty of storage, undercover car parks and ample car parking
  • Large saltwater concrete and pebblecrete pool
  • Managers Residence is a large 3-bedroom apartment conveniently located on the first floor above reception
  • Annualised net profit circa $375k – 31% Return on Investment

Details