Successful SE QLD Country Motel & Restaurant - recent million dollar rebuild.
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This successful 20 room motel with onsite Steakhouse is a little goldmine. It recently had a $1.2 million rebuild due to a freak tornado with all the rooms being rebuilt including new carpet, furniture, appliances & bathrooms. The owner of the freehold has just paid for the exterior to be renovated with rendered walls, timber features & tiled accents. The current lessee's have built a strong business with turnover increasing each year as well as good repeat business.
Winner of Trip Advisor's Certificate of Excellence for both the motel & restaurant in 2015 and 2016 as well as booking.com top 20% businesses. This current financial year reveals a dramatic increase to group tours and in turn a healthy bottom line. The business is continually increasing with 2016 July holding the record for turnover and profit.
This business is well setup with the managers taking a 4 week break over Christmas & the staff running both businesses very competently in their absense. The restaurant employs a manager & chef who are capable of running this side of the business with minimal input as/if required by the new lessee's.
Located on the Granite Belt - a premium food and wine destination surrounded by stunning national parks and prehistoric granite formations. The region's reputation for award winning wine and gourmet produce has also gained national momentum in recent years.
There is undercover parking for all 20 rooms. These are all located on the ground floor & include free wifi, mini bar, room service breakfast (additional cost), reverse cycle air-con, electric blankets, kettle, toasters & Queen beds. There is also a selection of twin, family, wheelchair & double rooms.
The current Lessee's have also upgraded the restaurant with new chairs, table cloths, carpet & leather lounge area. The Aussie Beef Steakhouse is a la carte operating 5 nights a week. The menu supports local produce such as New England Beef as well as featuring a comprehensive local wine list. There is also cocktails, coffee machine, & large open fireplace. There is scope to increase operating hours to include lunch/extend opening days as desired by the new owners.
The 3 bedroom managers residence includes an office, 2 bathrooms & kitchenette. The bathrooms are both renovated in 2014 & the entire residence was painted on the interior with new lighting. A large backyard includes a view over the golf course, a small vegie patch & courtyard with sail cover.
Lease: 23 year term.
Rent $140,000p.a approx. CPI adjusted.
Laundry: Domestic laundry. Linen all hired.
Restaurant: 65 seat. with bar & deck area Licensed.
Services: Room service, covered parking, microwaves (6 units), fire rated, reverse-cycle air-conditioning.
Turnover $684,868 $673,187 (Tornado closed motel for 4 months, insurance covered approx income $738,993 $785,912
Comment: Great location on main street, first motel as you enter Stanthorpe from Brisbane. Quiet location off the highway.... Stanthorpe has a bypass for all highway traffic.
PLEASE NOTE: This is a leasehold business which requires a higher amount of equity then a normal mortgage if you are getting finance. Please chat with your preferred financial broker for more information.
Feel free to contact us for full breakdown of inclusions & financial details.