Great financials / NET profit. 5 year plan to retire.
Based on 19-20 figures, this investment could be paid down in approx 5 years.
Then sell the lease at a return of 8% - or approx $155,000 a year rental. Then retire.
Or put full time Manager's in there at approx $70,000 income. They get free rent !
I am not a financial adviser, so you must get your own advice and do due diligence to substantiate this plan.
Lismore is a beautiful town, inland from Byran Bay.
There is going to be a great opportunity over the next 2-3 years with tourism within Australia because this Corona virus is only getting worse in Indonesia & Africa and will be a major problem in other countries for quite a long time.
If this is the case, then our international borders will be closed a long time and Australians will not travel overseas, but internally within Australia for fear of being infected overseas.
The cruise industry is wrecked also. Internal travel in Australia could be at a all time high.
There will only international travel to NZ.
This is a strong argument for motels being a very good investment in the coming years.
To an owner operator, the most important feature is to love where you live.
This will be your home as well.
The regions around Lismore - on the far North Coast of NSW offers something for every kind of traveller from nature lovers to culture vultures and foodies.
This area has everything from rainforest walking tracks to empty beaches, and its artistic offerings are just as celebrated.
Lismore is at the heart of the region and here you'll find a vibrant arts and music scene, populated by a colourful collection of locals.
The alternative village of Nimbin is known for its hippie lifestyle, vivid murals and unique festivals. 48Klm away is the beautiful seaside town of Byron Bay.
Tucked away in the lush hinterland, Kyogle is the gateway to magnificent national parks and rainforest.
It is this beautiful part of NSW why the tourist's will always come.
Australian's love to travel and the region gets thousands of guest's every year.
Location is a huge benefit of this 21 room motel being right in the middle of Lismore CBD !!! close to the cafes, restaurants, shopping and entertainment venues.
We believe this is the best budget accommodation in Lismore, with the advantage of recently being renovated.
Clientele is a strong mix of sales reps and worker/tradesman mid-week, sporting and weekend travellers plus large passing trade due to a great location.
Each of the 21 first class rooms is sumptuously furnished with the very latest facilities, combined with sophisticated furniture.
The motel has a selection of room types to suit the different needs of the clientele.
Construction is a two storey solid brick structure with brick partitions and colorbond roof.
There is no restaurant, so no food and beverage service which makes this a simple motel to manage. Guest's have all cafes and restaurants 1 minute away.
Services include: Reverse cycle air conditioning, BBQ, microwave ovens, undercover / open courtyard parking, Foxtel, fire rated.
Managers residence is a - 2 bedroom with built-in wardrobes, kitchen, downstairs living, toilet, shower, garage. Maintained and up-graded.
Financials for 19-20 are well up on 18-19 which is a great sign in these Covid times.
Inspections are by appointment only please, and then due diligence must be done by purchasers to confirm financials and is welcome to interested parties.
Quote MSA 5044 and call Michael Keltie on 0400 645 133 NOW !! - or submit an enquiry.