NEW 40 YEAR LEASE, CASH COW, 100 YEAR ANNIVERSARY 2024 - 83HL

LEASEHOLD $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 49% 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).
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.
Multiple bars and the ability to created themed areas and functions.
One of the best commercial kitchens for the area.
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.
Net increasing above $290,000 after rental with bottle shop and other improvements prior to the energy and input of a new owner who should be able to take it to the next level.

Net Profit: $296,000 expected

Contact Michael Philpott from Tourism Brokers for further information or to arrange an inspection.

Property ID: 83HL (quote when enquiring)

Price	LEASEHOLD $600,000
Location	Ingham
Property ID	83HL
Category	Hotel

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