Leasehold of a large motel property in Parkes

Description

Leasehold of a large motel property in Parkes Presenting an exclusive opportunity, we bring to market the leasehold of the North Parkes Motel, ideally situated on the north side of Parkes, along the main thoroughfare into town. This double-brick property is impeccably maintained with minimal external landscaping required. Boasting a 3.5-star rating and 36 rooms, the motel enjoys consistently high occupancy throughout the year. The motel has achieved impressive financial performance, with a solid turnover of $1,384,699 in 2023, and an adjusted net profit of $522,622, maintaining an average annual occupancy of 64%. Adding to its allure, the manageable annual rent of just over $100,000 makes it an attractive prospect for potential buyers. One of the largest properties in Parkes 17 years remaining on lease Continued strong occupancy year-round Large amount of repeat clientele Large owner's residence Experienced staff willing to stay on Property inspections are by appointment only