CASH COW 100 YEAR ANNIVERSARY in 2024, GET ON FOR A RIDE BACK IN HISTORY - 83HF

REDUCED FREEHOLD $2,600,000

Money maker from day one.
Fantastic Starter or great addition to existing portfolio, it offers heaps of upside.
New Bottle shop installed and operational and yet to see the value add in the figures. This will provide a significant cashflow going forward in its own right, adding further to the bottom line at a cost of $330,000.
Extensively renovated between 2018 and to 2020 while still retaining its original 'Art Deco' theme. The renovations included the main hotel bar, kitchen, bistro, and accommodation area.
Retirement creates a rare opportunity to secure a long-term future. Currently operated by a Professional Hotelier with 62 years experience, now ready to retire.
Generations of Family have owned and run this one, so it has a strong history and has been cared for with continual upgrades.
A Great opportunity to buy into a family run Hotel in Far North Queensland that is well regarded, respected and is stable with a significant and proven client base.
ROI in excess of 19% that continues to grow. This Freehold Going Concern has everything, and it is under pinned by the 15 gaming machines and two more machines which can be added. (15 of the latest high performing gaming machines with a licence for 17). The authorities for the 15 Electronic Gaming Machines are beneficially owned by the property owner - the last average price for these authorities was as at 28-09-2023 Coastal-region (minimum acceptable price $187,367 each per authority - Total Value: $2,810,585).
15 basic accommodation rooms all fully air conditioned. comprising 13 Single, 2 Double and 1 self-contained unit (Unit for managers / owners, etc). Current owners do not reside on site.
3,091 m2 of land with room for expansion.
Multiple bars and the ability to created themed areas and functions.
One of the best commercial kitchens for the area. able to cater for significant functions.
Rear gravel car park provides 50 parking spaces with additional room for larger vehicles.
Adjacent to the hotel is a public parking space for 50-60 cars maintained by Council.
Expected to Net in excess of $496,074 for 2022/23 (refer Financials or 19.08%) and building to $500K plus once the Botttle shop and other improvements kick in prior to the energy and input of a new owner who should be able to take it to the next level.

Net Profit: $496,074 for 2022/23

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

Property ID: 83HF (quote when enquiring)

Price	REDUCED FREEHOLD $2,600,000
Location	Ingham
Property ID	83HF
Category	Hotel

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If you are a genuine Prospective Purchaser or Lessee, and you would like to obtain additional information in respect of any listing ofTourism Brokers it is a requirement that you agree to this Confidentiality Agreement below in order to request information on a property. Tourism Brokers will respect the discreet nature of your enquiry, as we do for all our clients.

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