• Strong occupancy rate with potential to grow the business
• Great central elevated location
• 3,972sqm site zoned medium density residential
The property features 17 spacious studios, one, two and three bedroom units most with underfloor heating and double glazing. The two bedroomed units feature private thermal plunge pools, lovely harbour and elevated views. On-site amenities allow guests to unwind in the year-round heated thermal pool and to enjoy outdoor dining at the BBQ area in a park-like setting. The large manager’s residence is a well-presented three-bedroom two-storey home which has lovely harbour views, a double garage, reception area and manager’s lounge. This provides very comfortable and convenient living. This is a prime location strategically located just off State Highway 29, a short drive to all major amenities and that is why this motel appeals to both business and leisure travelers.
It has strong revenue streams with consistent occupancy from family groups, corporate clients and contractors providing a solid revenue with room for growth through additional development. In a separate area on the property, there are four residences rented currently on a long term basis. With the recent rezoning of this property to Medium Density Residential, the residential redevelopment opportunity now allows up to three story buildings and a much greater intensification of dwellings on this central elevated site. Grab this opportunity to own an exceptional property with a solid multiple income stream and excellent guest facilities.
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