This Motel and Restaurant is now for sale as an Investment property with a long lease and excellent tenants, which makes this a very secure investment. There are 12 x 3.5 star units and 5 x 5 star units with a lovely modern 3 bedroom residence and an inviting tropical surround swimming pool and spa area. Maryborough is a thriving town of some 8000 people, 4 schools and 19 parks and is in the Central Gold mining region. This property is only 18 years old and the 5 star units are only 15 years old. The occupancy rate is some 62% and the “Peppas” restaurant, licensed for 100 people is very popular as the location is very central to the city as well as being on the main highway. The large block is 4232 sq.mt and construction is double brick and tile.
There is a 7.96% return and the current lease is $87,125.00 P.A plus G.S.T plus outgoings. The rent increases by 2.5% each year.
Price $1.1M (Council valuation is $1.05M
“AN EXCELLENT INVESTMENT”