Leasehold for $630,000 in Narrandera | Resort Brokers ID : LH007900
$630,000
Motel (Leasehold) hospitality, NARRANDERA NSW
The sale leasehold of the Camilla Motel in Narrandera has come to market with a fantastic renewable lease in place. The property would suit new operators looking to enter the accommodation leasehold market or someone looking for a more minor operation to run themselves.
The motel boasts 15 rooms of varied sizes along with an extensive management residence with four bedrooms and three bathrooms. The motel is ideally situated on the Newell Highway on the northern side of town and close to all the towns commercial facilities.
Resort-style facilities include an in-ground swimming pool and a guest BBQ area with a property with limited yard maintenance. The property has had bathrooms refurbished and beds and bed bases replaced minimising operational costs for incoming tenants.
The motel in the 2023 financial year turned over $390,467 showing an adjusted net profit of 49% of turnover being $192,006. The annual rent for the motel is an achievable $54,986
Leaseholds in this price range across Australia are highly sought after in this market so please dont hesitate to contact me to take that next step.
Prime location on main thoroughfare into town
Single level property
Renewable lease every four years
Large management residence
All bathrooms have been renovated
New bedding and mattresses
Continued trade
Property inspections are by appointment only
Date updated: 21 Apr 2024 23:00:04
More Information
- Total Purchase Price: $630,000
- Net Income: $ 192,006
(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?