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AWARD WINNING 43 KEY FREEHOLD HOTEL IN HEART OF VICTORIA | Resort Brokers ID : FH008298
$10,000,000
Motel (Freehold) hospitality, SALE VIC
Be quick to enquire about this incredible freehold hotel in Victoria's economic powerhouse Gippsland, only two and a half hours from Melbourne.
This immaculate 4.5-star property is hugely popular with the corporate trade that frequents the area, this is seen in the ADR that continues to grow year-on-year and the average length of stay which is much higher than industry norms.
Ideal for a corporate operator and owner looking to click into a bigger network or an investor looking to keep it as is with the existing staff who have been there since it opened in 2013. There is no need to reside onsite as everything is automated and easy to run.
Representing an over 10.5% yield and growing, this 43 key hotel won't be around long.
Don't miss out on this opportunity, call Chris today.
- Multi-award-winning luxury hotel in the strategic city of Sale in Gippsland
- Immaculate condition, no CapEx required
- Consistently growing year on year.
- First time to market since 2013 opening
- FY24 net profit of $1,063,079
- Exceptional occupancy of 67% underpinned by solid 73% corporate trade
- Growing ADR FY23 $196& FY24 $213
- Unique design 43 keys made up of dual key townhouses, ideal for corporate and leisure guests
- Exceptional guest reviews/ratings onbooking.com, TripAdvisor and other OTAs
- Inspection by appointment only
Date updated: 15 Dec 2024 22:00:03
More Information
- Total Purchase Price: $10,000,000
- Net Income: $ 1,063,079
(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?