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Property Ref: 2355
The Racecourse Motel Business is for sale in Paeroa
The Racecourse Motel in Paeroa offers an excellent opportunity for entry to the booming tourist accommodation business. And at the reduced price of just $295,000 it represents excellent buying.
Paeroa is at the gateway to the Coromandel and on the incredibly popular Hauraki Rail Trail cycle way through the stunning Karangahake Gorge. The town is full of history and interest.
The motel is currently operated as a Freehold Going Concern. It rates Very Good 8.5 on Booking.com and has very positive guest reviews. However, family reasons oblige the owners to sell the business, while retaining the property.
A new lease will be created on very generous terms. Initial rent will be set at $90,000 +GST pa, reviewed yearly to the Consumer Price Index.
Very good business performance means the new business owner can expect to earn into 6 figures, for a return on investment around 30% per annum – while enjoying the significant benefits of living in/off the business.
The Racecourse Motel comprises 10 units, easily managed by a couple:
- 2 family units (1 x 1 brm and 1 x 2 brm) offer spacious, comfortable accommodation to families
- 6 studios are much sought after by corporate and private travellers
- And the jewel of the property, 2 brand new studio units.
All units have been recently refurbished and present very well. Already this has shown benefits in increased room rates and occupancy.
The business owners will enjoy a roomy, three-bedroom home with attached garage. And living in Paeroa means you have all services and amenities readily available.
Full financial disclosure is available to qualified enquirers.
Interested in getting into tourism accommodation, in a business of proven profitability? Then call now for your opportunity to inspect the Racecourse Motel.
Full Listing Information for this Tourism Business will be disclosed to registered, approved Potential Purchasers.
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Code Compliance New Units
Trading Accounts to FY 2018
Trading Accounts FY2019