Tony Grbcic and Adam Grbcic, at Kollosche Commercial, are proud to present to the market a freehold motel that is occupied by an experienced operator on a secure 15-year lease.
Located in the popular and tightly-held Broadwater precinct on the Gold Coast. The property is strategically located close to Harbour Town Shopping Centre, the Southport CBD, and is surrounded by numerous amenities including shopping, schools, restaurants, entertainment, and parklands.
Key features include:
- Excellent opportunity to capitalise on the investment return from the motel in the popular Broadwater precinct
-A 1,012m²* allotment situated on Brisbane Road
-Dual street frontage
-Recently refurbished 3-star freehold motel comprising 12 rooms, a manager's office, and a two level managers residence which has plans to be converted into an additional 2-3 rooms
-The rooms are all ensuited, equipped with Televisions, Wi-Fi, coffee and tea facilities, and basic kitchen appliances
-Within minutes to the Broadwater, parklands, cafes, restaurants, entertainment, shopping centres, schools, and medical facilities
The Key Investment Drivers include;
-New 15-year lease with 10-year option
-Current Net Income: $140,000 + GST
-Tenant pays 100% outgoings (including 50% of land tax)
The lease is structured to provide the investor additional security, with the lease rental stated at $175,000 + GST and an incentive attached that provides a 20% discount to the tenant ($140,000 + GST) on the basis that all lease terms are met and there is no default or late rental payments. Providing a strong incentive for the rental to be paid on time and the property to be kept in good order.
This is the perfect opportunity for an investor seeking a long-term and secure lease with the added benefit of future development upside.
Disclaimer: Whilst every effort has been made to ensure the accuracy of these, no warranty is given by the vendor or the agent as to their accuracy. Interested parties should not rely on these as representations of fact but must instead satisfy themselves by inspection or otherwise.
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