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FREEHOLD MOTEL | | Property type: | Commercial | | Price: | $399,000 | | Address: | PEAK HILL NSW 2580 |
We purchased this motel 3 years ago and since that time we have focused on renovating inside and out. Renovations are about 90% complete. Over the last 12 to 18 months we have seen a marked increase in turnover (Financials can be obtained on application).
The Oasis Motel is located on the Newell Highway, between Parkes and Dubbo in the historic mining town of Peak Hill.
The Motel was purchased in poor condition and featured only 11 guest rooms and a poorly kept residence at the rear of the motel. The renovations resulted in one extra guest suite (12 rooms) and fully renovated one bedroom residence now attached to the office and commercial kitchen.
We have spent almost $80K in renovations which includes external and internal upgrades, and new plant, over the last 3 years.
The motel now has movies to rooms, an outside hot tub and table tennis area. The Alfresco Café has tables for outside dining and a large BBQ area. There are lovely gardens all around (ie before the drought!!!). We even have large billboard advertising either side of town.
Vendor Finance is being offered for part of the purchase up to $80K. We will also consider a swap for residential property in most regional areas. The owners brought the motel to run together but cannot relocate now until 2009. They currently have managers running the business for us, however the property is more suited to ‘owner operators’. It’s a great life style particularly for an older couple who like meeting people.
Our asking price is well below current value. The price is definitely not negotiable. We are selling without an agent and believe that this is a great opportunity for a couple just to move in and start making a comfortable income from day one.
VISIT OUR WEBSITE AT members.dodo.com.au/~oasismotel
For more information please contact Peter on 0403273403.
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Map for PEAK HILL, New South Wales
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