2676ML - LARGE 91 ROOM LEASEHOLD MOTEL IN CENTRAL CAIRNS

SOLD

5,775 m2

Your very own Motel in Paradise here in Cairns, Far North Queensland, turning over $25,000 per week, solidly booked all year round and currently averaging 85 % Occupancy.

This Lease will not last long at this price performance.

91 recently refurbished motel rooms.
Good reliable money-making opportunity for a Motelier wishing to step up to the next challenge.
Easily managed and very easy life for two active owners.
With two reception staff in place, most weekends would be free to relax.
Centre of town location easy park and short walk to restaurants / hotels, Cairns Esplanade and a number of other conveniences and attractions.
High quality self-rated 3 star property.
A good mix of corporate and local clients as well as passing trade with plenty of opportunity for growth.

A total of 91 rooms, including 25 budget units, 30 standard units, 19 resort rooms, 11 family rooms, 5 two-bedroom apartments.

Well worth the inspection and a solid opportunity returning earning a Net Income of $531,381 in 2018/19, and with little COVID effect, this Motel Lease is priced to sell at $1,195,000, reflecting a Return on Investment for a coastal seaside motel of around 46%.

A generous brand-new lease of 25 years will be offered to the buyer, at an initial rental of $400,000 a year plus GST and outgoings, indexed to CPI.

This represents around $85 a week ($4,444 Per Annum) for a central Cairns location, which reflects only one room booking per week obligation for rental alone, leaving plenty of upside to enjoy a profitable existence.

Net Profit: $551,381 for 2018/19

Contact Antonio Curulli from Tourism Brokers for further information or to arrange an inspection.

Property ID: 2676ML (quote when enquiring)

Price	SOLD
Location	Cairns City
Property ID	2676ML
Category

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