Description:Dubbo-A very well built, established motel with excellent position as one of the first motels in town on approach from Sydney. Agreement in place for a minimum of 10% of rental income to be invested back into the property each year has seen continual upgrades maintaining the high standards of the property and includes the recent bathroom renovations with the ones still remaining to follow. Features a fully licensed restaurant located on the premises; Exceptional landscape frontage; Large carpark allows for Coach trade and modernised 3brm residence for the comfort of the business owners. Excellent purchase opportunity for new Leasehold business owners with a long lease in place and the advantage of Lessor willing to work in with the prospective purchaser for the mutual benefit of all parties. Well-presented and maintained by the current operators, new business owners can benefit from all the hard work carried and inspections are highly recommended.
NOTE: Current agreement is in place for a 5 year Rent Freeze which will expire on 2020 when CPI will then apply at this time. Also included in Lease document – Clause 29 –Further Landlord Obligations – which states: ”Each year of this lease, the Landlord will attend to keeping the Motel and the Landlord’s Property in a good and substantial structural condition and the Landlord’s annual expenditure will be an amount equal to 10% of the then current annual rent paid by the Tenant” ie around $25k expected per year at present until the Rent Freeze expires in 2020.
Number of Rooms: 33
Construction:Brick & Tile
AAA Rating: 3.5 Self-Rated
Year Built: 1976/85
Residence: Recently renovated, this spacious 3 bedroom residence is air conditioned with built-ins; large open living area; kitchen; bath/toilet; store room and car port. Single level adjoins reception.
Restaurant:Yes-Licensed with cocktail lounge
Services:BBQ; Pool; Laundry; Restaurant; Conference facilities; Cots; Coach parking Meals: Lunch; Room service
2017 Turnover: $1,851,000.00
2016 Turnover: $2,181,000.00
(NAR : "Net After Rent" NOP: "Net Operating Profit")
Last Updated: 26 June 2018
Contact: Steve Herington
Mobile: 0408 537 028
Disclaimer: Every effort has been made to provide accurate information as possible. However, New South Wales Motel Brokers is not responsible for misstatement of facts, errors or omissions. It is recommended that a purchaser to rely on his or her own enquiries.