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A highly profitable leasehold motel in the bustling region of East Wagga Wagga. | Resort Brokers ID : LH008476
$2,240,000
Motel (Leasehold) hospitality, EAST WAGGA WAGGA NSW
The Quality Inn Carriage House boasts 38 well-presented rooms, a long lease to 2051, and a strong net profit, of over $600,000. The high standard of service has earned the motel a strong rating of 4.5 out of 5 and has seen occupancy grow over the last twelve months in the booming accommodation region of Wagga.
With a mix of corporate travelers Monday through Thursday, it also provides the ideal weekend destination for the leisure market. Wagga is the largest inland city in NSW, ensuring a strong influx of corporate guests, and it is a key military and agriculture hub for the region.
It caters to a wide range of guest needs with facilities including a swimming pool, barbecue area, tennis court, room service, and a function/conference room. The restaurant operates for both Carriage House guests and locals. Adding to its charm, the motel is nestled on the banks of the Murrumbidgee River, offering guests a tranquil retreat.
The motel also includes an owners unit with four bedrooms and a bathroom, providing comfortable accommodation for the manager or owner.
This is a remarkable opportunity to invest in a thriving business in a vibrant location.
- 38 well-presented rooms
- Long lease to 2051
- Strong net profit
- Booming regional accommodation location
- Generous owners’ residence; 4-bedroom, 1-bathroom
- Inspections are by appointment only
Date updated: 29 Dec 2024 22:00:03
More Information
- Total Purchase Price: $2,240,000
- Net Income: $ 659,472
(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?