Long term lease of a well performing motel in a growing district

Description

Long term lease of a well performing motel in a growing district Presenting to the market is the opportunity to acquire the long-term lease of a high-performing motel in Parkes. Hotel Gracelands has a 41-year lease in place and is currently showing strong occupancy in the motel and a substantial trade in the restaurant for meals as well as being used as a function centre. The leasehold is being sold as a going concern; hence, management wages are added back. The net profit for 11 months is $290,669 with a purchase price of $695,000 which resembles this business being sold plus 41% yield. The property has historical figures showing continued strong trading figures that have grown from year to year. Please contact a broker at ResortBrokers to discuss the property further. Don't let this leasehold pass you by. Fastest growing area in Central West NSW 41 year lease still in place Historic figures showing continued strength and growth Restaurant trading well to motel guests and visitors Restaurant area used for functions Landlord happy to work with new tenant and develop more rooms 11 months trading figures showing net profit of $290,669 Inspections by appointment only