2 Brolga Place, Coleambally
For Sale $600,000 + SAV -
ON OFFER- Is possibly the best leasehold interest hotel in country NSW!
There is no better leasehold interest hotel on offer in country NSW!
The average weekly income of $49,255 continues to rise (up 10% from June 2019). The diversity encompasses many high profit income streams including Bar, Gaming, Motel Accommodation, TAB/KENO, Food and Functions. The present weekly rental is $1,550 representing only 3.1% of turnover.
Facilities include a single storey building in excellent condition and with modern design that features Main Bar with TAB, Walk In Bottle Shop, large Lounge/Saloon Bar, Gaming Room (smoking solution pending, including Tito hardware with 9 Gaming Machines, 6 of which have been recently upgraded), Beer Garden, functional Kitchen adjoining a separate Function/Breakfast Room. With plenty of off-street parking, by design, a very convenient hotel to operate with all Lessee’s equipment owned.
There is a comfortable 2BR, ensuite residence that is presently rented to guests for $140 per night due to the unprecedented demand. The current lessees have purchased a House in Coleambally and would be prepared to rent/sell this as a housing option for a new operator should they wish to continue this lucrative arrangement.
Adjoining the hotel are 7 well presented Motel Units whose occupancy rates are 87% Monday to Thursday and 62% Friday to Sunday. Construction has commenced for 6 new motel units to cater for the increasing demand. An extra $700 per week in rental will be payable once the units are habitable and this will equate to 7 nights tariff for only one unit at the proposed new rate.
A hotel Courtesy Bus services the village and surrounds of Coleambally which is a wealthy town originally created by the establishment of the Coleambally Irrigation Area and less than an hour from the vibrant town of Griffith and 2 hours from Wagga City facilities.
Coleambally is a proud, one pub town with a very strong sense of community that presents as a very pleasant place to live enjoying a great environment for family living.
A 25 year lease is offered. The accountant’s current Net Profit shows $12,590 per week for the past 6 months or Circa $655,000 per annum.
PRICE $600,000 + SAV