Welcome Inn 277, Glenunga

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Business Description

 

This is a rare leasehold motel opportunity. Welcome Inn 277 is situated in a great location, on Glen Osmond Road, some 10 minutes drive from the Adelaide CBD. This is ideal for a first time motel buyer, being easy to run with no restaurant. Comprising 25 rooms plus a 4 bedroom home, which is currently leased out to short term motel guests, but could be utilised as a Manager's residence. The same owner has owned this motel for in excess of 10 years.

 

At a glance:

  • Great suburban location & strong profits
  • New 20 year lease
  • 25 motel rooms
  • 4 bedroom stand alone house
David Hutchinson 0414 440 953 

 


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Staff Summary

The motel is staffed with cleaning staff only. The vendors man the reception during trading hours. A further saving in staff costs could be achieved if the purchasers did all or some of the cleaning.

Lease Summary

Current Rent $155,000 per annum + GST (includes rent on the house)
Lease Term 10 years
Lease Commencement Date of Settlement
Right of Renewal 2 x 5 years
Outgoings Paid by tenant
Adjustments CPI annually and to market at the end of the term
Bank Guarantee 3 months’ rent

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