2 Brolga Place, Coleambally
For Sale FOR SALE BY EXPRESSION OF INTEREST -
FOR SALE BY EXPRESSION OF INTEREST
ON OFFER- Is possibly the best leasehold interest hotel in country NSW!
The diversity of the $44,800 weekly income encompasses many income streams including Bar, Gaming, Motel Accommodation, TAB/KENO, Food and Functions. The weekly rental is $1,525 representing only 3.4% of turnover.
Facilities include a very well presented single storey building 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 Occasion/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 as guest accommodation at $140 per night due to the unprecedented demand.
Adjoining the hotel are 7 well presented Motel Units whose occupancy rates are 87% Monday to Thursday and 62% Friday to Sunday. To cater for the increased demand the Landlord has agreed to build 6 new motel units on the site, incurring an extra $700 per week in rental which 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 and great environment for family living.
A 25 year lease is offered. Accountant’s Net Profit shows circa $565,000
EXPRESSION OF INTEREST - Closing Date Friday, 18th of October 2019