Coonawarra Motor Lodge

Leasehold $440,000 + SAV ($3,000 approx.)

Web ID: T2859

Business Description

Located in Penola in the heart of the Coonawarra wine region, some 382 kilometres south east of Adelaide. Penola is located on major tourist routes from Victoria to South Australia. This motel is popular and well known, boasting 12 well appointed units. All units are in excellent condition with recent upgrades to carpets, televisions, air conditioning and a 60-panel 15kw solar system.

With a stunning 3 bedroom manager's residence to the rear of the motel with a separate lease, this motel is easy to run. There is also the additional option of a restaurant, which is not currently operating. This is a great leasehold opportunity for a couple in a popular town in the South East.

At a glance:

  • 12 well appointed recently refurbished units
  • 3 bedroom manager's residence
  • Good steady profits
  • 20 year lease
  • Easy to run, no restaurant
  • Great location on the main road in the heart of town 

 

David Hutchinson 0414 440 953


Extended Price Information

Goodwill including Plant & Equipment $440,000
Stock at valuation (approx) $3,000
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Leasehold $443,000


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Staff Summary

Two owners with the help of two casual office and cleaning staff.

Lease Summary

Current Rent $46,9940 per annum + GST
Lease Term 11 years
Lease Commencement 1st July 2012
Lease Expiration 30th June 2023
Right of Renewal 3 x 5 years
Outgoings Paid by tenant
Adjustments 4% annually to 2023 and thereafter CPI annually
The 3 bedroom manager's residence is available on a separate lease for $12,966 per annum + GST

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