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High-performing Freehold regional motel in Cooktown, QLD with plenty of upside | Resort Brokers ID : FH007572
$2,195,000
Motel (Freehold) hospitality, Cooktown QLD
This is a fantastic opportunity to secure a solidly performing freehold motel in the historic town of Cooktown.
The River of Gold Motel is a highly desirable location for the corporate market and benefits from tourism and coach tours.
The motel sits on 3,044m2 of land with the opportunity to purchase the adjoining 1,012m2 block of land for further extension of the motel which may be developed for that purpose subject to council approval units/cabins.
Current owner/operators have invested significantly in recent times in a capital sense, ensuring there are no major works required of the incoming purchaser. Providing a great return on investment and various growth options this is an extremely appealing proposition for a highly motivated purchaser.
- High-performing regional motel with an outstanding reputation.
- Strong, recurring corporate and tourism clientele.
- Under-utilised restaurant/bar with conference facilities, ripe for maximisation.
- Significant recent capital investments in room and motel upgrades.
- Potential for expansion with an available adjoining 1,012m2 land block.
- Conveniently located just a 3-minute walk from the town centre.
- Stable ownership for the past 18 years ensuring consistent quality.
- Inclusive of top-quality inventory throughout the motel and restaurant.
- Inspection by appointment only.
Date updated: 01 Nov 2024 00:00:02
More Information
- Total Purchase Price: $2,195,000
- Net Income: $ 336,721
(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?