Phone enquiries - please quote property ID 24209.
This is an ideal investment opportunity to purchase this commercial property with a secure long-term lease.
THE COMMERCIAL PROPERTY:-
The property comprises 23 motel rooms with 3 gradings of room quality, restaurant with commercial kitchen, bar, dining room and enclosed in-ground swimming swimming pool. The caravan park is spacious with 23 powered sites, several camping sites, 5 cabins, an ablution block and BBQ area.
The site originally comprised 2 separate properties which combined to form the current complex, hence the different levels of accommodation grading. The original part of the complex was built in the 70's while the second part was built in 1989.
BONUS! There are THREE residences: one 3 bedroom manager's residence PLUS 2 separate 2 bedroom apartments, which could be used for occupation by the freeholders, or residential tenancies.
A shed is situated at the rear of the administration/residence block which houses a cool room, storage area, workshop area and space for storing a ride on mower and other equipment. Further, there is a large shed with mezzanine floor, which can be used to house 6 vehicles plus enormous storage. This is currently excluded from the leasehold and available for the freeholder.
There is quite a large area of undeveloped land which can be used for additional accommodation units or recreational activity development.
The complex sits on 4 titles (total of approx 18,666sqm) with an easement, within the District Council of Wudinna. A highway upgrade was undertaken in 2019 with remaining highway landscaping scheduled for completion during 2021 (subject to COVID 19 restrictions). This will assist in enhancing the kerb appeal once completed.
The motel frontage on the highway is approximately 183 metres, with a depth of approximately 102 metres, giving an overall site area of 18,666 square metres.
THE TENANT & LEASE
The property is currently under a 20-year lease with the leaseholders indicating that they will be listing the business for sale during 2020. Purchasing both freehold and leasehold of the property could be a great acquisition package.
Under the current tenancy, the 2 apartments and large shed are not included in the lease. The apartments can be occupied by residential tenants only (conditions apply) or freeholders. Owning the freehold and leasehold gives the opportunity for utilising the apartments in any arrangement desired.
The motel is located on Eyre Highway (National Highway 1) in the township of Wudinna, 575 kms west of Adelaide, 690 kms east of the WA border. The township has a friendly population of approximately 450 people with a district population of about 1,200.
Purchase price advertised, is for the FREEHOLD Commercial Property Only.
DISCLAIMER No Agent Business (www.noagentbusiness.com.au) is an Australian For Sale By Owner website operating since 1999. We proudly assist commercial property owners who are looking to sell or lease their own commercial property without paying any real estate commission. While every care has been taken to verify the accuracy of the details in this advertisement, the correctness cannot be guaranteed.