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Lance White
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Dukes Inn Motel Northam New Lease (PRICE AND RENT REDUCED)

Listing Id : 255655

Location : Western Australia - Northam -North Wa

Category : Bars, Hospitality and Tourism, Accommodation

Asking Price : 695,000

Business description

THE BUSINESS (STRONG TURNOVER-IMPRESSIVE PROFITS)

This is an efficient and profitable businesswhichat therecently reduced asking price now demonstratesan attractive ROIwhich is well above thatnormally available to a buyer in the motel / hospitality sector.

You will not find a better presented business or better priced opportunity than this in WA. If you are a genuine buyer of a strong and profitable motel/ hospitality business contact us now as this will not last.

This outstanding propertyoffers unequalled accommodation, hospitality and conference facilitiesfor this busy regional hub. The accommodation enjoys occupancy rates of approximately 80% throughout most of the year. This in combination with a strong bar andbistro provides a profitable and secure trade mix for the business. Given that the available rooms are over- subscribed on most week days there is also significant potential to further develop this aspect of the business on the adjoining vacant land. This land is also the property of the Dukes Inn hotel owner. He is prepared to discuss with the leasehold operator various options for the development of this land to incorporate additional motel rooms to further expand the current business (see further details below).

THE HISTORY

The Dukes Inn Hotelwas fully refurbished in 2013 and was a finalist in the Western Australian Heritage Awards that year.

The original Stables were then fully restored and converted in to a unique and impressive accommodation facility. The stables werea finalist in the 2015 heritage awards.

Followingrestoration and refurbishmentof the Dukes Inn Hotel and theStables,the Chalets were then built on site. The chaletscomprises 3 separate blocks of modern studio and apartment style self-contained accommodation rooms.

In summary the accommodationfacilities comprise

THE HOTEL:

  • 13 x bedrooms with no ensuite
  • 2 x bedrooms with ensuite's
  • 1 x 2 bedroom family apartment

THE STABLES :

  • 1 x double room with ensuite
  • 1x deluxe queen room with ensuite
  • 2 x 1 bedroom apartments incl lounge and kitchen facility
  • 1 x 1 bedroom two storey townhouse with separate bedroom lounge and kitchen facility
  • All of these rooms have modern high quality fit-outs

THE CHALETS :

  • 6 x studio style one bed rooms with kitchen/dining facilities
  • 6 x large deluxe studiorooms
  • All chalets have separate entries and modern high quality fitouts

OTHER PROPERTY FEATURES :

  • Full Tavern Licence
  • Separate entrance and reception area
  • Fully equippedbistro and sports bars
  • Separate Conference/Function Room
  • Unique paved and landscaped outdoor garden entertainment area with separate bar
  • Gas BBQ and alfresco area
  • Fully equipped modern laundry
  • Attractive and profitabletrade mix over accommodation, food and beverage sales

ADJOINING VACANT LAND

  • This offering can include the vacant land immediately adjacent to the Dukes Inn
  • Demand at the business frequently exceeds availability of rooms
  • The vacantland provides the opportunity for a new owner to increase the room capacity and further develop this already substantialbusiness.
  • The owner is open to discussions with the leasehold operator of the existing business to develop this land with additional accommodation.

LEASHOLD OFFERING

The Seller is prepared to offer a new lease of the existing business on the followingattractive terms:

  • Initial Term : 10 Years
  • Options : 2 x 5 year options ( total lease term of 20 years )
  • Price: $695,000 psav ( Furniture , plant , equipment and goodwill of existing business)
  • Annual rent : $140,000 ( plus usual outgoings)


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