Tower Motor Inn

Leasehold $590,000 + SAV ($5,000 approx.)

Web ID: T5987

Business Description

 

The Tower Motor Inn is a 19 roomed 3 ½ star motel offering 10 newly refurbished 4-star rooms. The Tower Motor Inn is located in Mount Gambier in the Limestone Coast region. Mount Gambier is strategically located midway between Melbourne and Adelaide on the Melbourne to Adelaide touring route. This provides the Tower Motor Inn with the opportunity to leverage marketing value from Victorian, South Australian and Tourism Australia’s promotion of this route, one of the nation’s most popular touring routes which includes the iconic Great Ocean Road.

 

At a glance:

  • Rare freehold and business for those seeking a freehold option
  • Long lease if taking up the leasehold only option
  • 10 of 19 units recently renovated to 4-star standard
  • Great profits
  • No restaurant - easy to run
  • Great location on main road
  • Same owner 15 years
 

David Hutchinson 0414 440 953

 



Extended Price Information

Goodwill including Plant & Equipment $590,000
Stock at valuation (approx) $5,000
Total Price Leasehold Business only $595,000
Freehold (optional) $1,535,000
Freehold Property & Business Freehold & Business $2,130,000


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Staff Summary

The business employs one casual receptionist, one part time and four casual cleaners.

Lease Summary

New Rent $120,000 per annum + GST
Lease Term 5 years
Lease Commencement Date of settlement
Right of Renewal 5 x 5 years
Outgoings To be paid by tenant
Adjustments CPI annually and to market at renewal periods
Current Rent
If purchasing the business only, a new lease will be provided on the above terms.

Freehold Summary

Certificate of Title Volume 5417 Folio 101
Total Land Area 3,550 square metres approx.
Zoning Commercial - Other
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