Leasehold of a large motel property in Parkes | Resort Brokers ID : LH007844
$1,700,000
Motel (Leasehold) hospitality, PARKES NSW
Presenting an exclusive opportunity, we bring to market the leasehold of the North Parkes Motel, ideally situated on the north side of Parkes, along the main thoroughfare into town. This double-brick property is impeccably maintained with minimal external landscaping required.
Boasting a 3.5-star rating and 36 rooms, the motel enjoys consistently high occupancy throughout the year.
The motel has achieved impressive financial performance, with a solid turnover of $1,384,699 in 2023, and an adjusted net profit of $522,622, maintaining an average annual occupancy of 64%.
Adding to its allure, the manageable annual rent of just over $100,000 makes it an attractive prospect for potential buyers.
- One of the largest properties in Parkes
- 17 years remaining on lease
- Continued strong occupancy year-round
- Large amount of repeat clientele
- Large owner's residence
- Experienced staff willing to stay on
- Property inspections are by appointment only
Date updated: 28 Apr 2024 23:00:03
More Information
- Total Purchase Price: $1,700,000
- Net Income: $ 522,622
(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: undisclosed
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?