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GREAT PRESENTATION AND 16% RETURN!
$2,400,000
Motel (Freehold) hospitality, Kempsey NSW
We are proud to have been appointed as EXCLUSIVE Brokers to market the Park Drive Motel and Caravan Park for sale.
The Motel consists of 23 fully renovated 3 1/2 star rooms and also a Caravan Park comprising 36 powered sites.
This business has a Riverside location and is at the entry to the Town.
It presents in outstanding condition as the current owners have worked tirelessly to improve the property and bring it to the travelling public in it's present condition.
There is a 3 bedroom Manager's residence and also another 2 bedroom that can be used for assistant Managers, or let out as the current owners do.
The business offers new owners a very solid base to continue the growth that it has already experienced.
Offering a return in excess of 16%, this business will suit all buyers.
More Information
- Total Purchase Price: $2,400,000
- Net Income: $ 424,000
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 0
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: 5.7
This is the approximate number of years the business' revenue would pay for the business component.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Are there any set office hours stipulated in the contract?
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?