North Coast Freehold Going Concern Motel SOLD by HTL Property

Exclusive selling agent, James Carrick, Director of Accommodation at HTL Property is pleased to announce the sale of Town Beach Motor Inn Motel and the adjacent, commercial site. The combined assets sold to a high net worth, private investor on an 8.25% yield.

A five-week Expression of Interest campaign generated ample interested, especially considering this was the Property’s first time to market in over 20 years. After receiving over 150 enquiries and a number of strong offers at EOI Close, James conducted an exclusive second-round process which saw both the price and terms substantially improve.

Town Beach Motor Inn comprised of 18 motel rooms complimented by a swimming pool, BBQ area with gazebo, immaculate gardens and manager’s unit. The adjacent site included in the sale, featured a vacant, three-bedroom house. The combined assets boasted three street frontages and a substantial 1,946sqm freehold landholding.

“There was a lot of interested purchasers, from mum and dad investors and owner-operators through to private syndicates and boutique funds. Accommodation assets are tightly held, especially those in prime locations and with upside potential,” said James Carrick.

Town Beach Motor Inn is already a strong-performing motel however there was ample scope to drive revenues such as by introducing dynamic pricing, online reservation systems and overall improving operational efficiencies. The adjacent site was a blank canvas offering redevelopment opportunities to complimentary uses such as a restaurant with function capacities or a beauty and wellness retreat.

“This was a great buy. The ultimate purchaser recognised the easy-to-operate scale of the motel, benefit of an established income with immediate revenue enhancement opportunities and the significant potential via the adjacent mixed-use zoned site plus all underpinned by an excellent location and substantial landholding to hold long-term value. This opportunity really did have it all,” continued James.

Town Beach Motor Inn is superbly located being walking distance to the Port Macquarie CBD. Considered the capital of the highly popular NSW North Coast, it is both a top tourist destination and a vibrant regional city with a diversified, well-established economy. Port Macquarie is centrally located between Sydney and Brisbane, attracting overnight travellers from both cities as well as surrounding regions.

“Port Macquarie is undergoing unprecedented levels of investment. The $100 airport million expansion has just been completed and now there’s another circa $100 million going into the Ocean Drive upgrade as well as a new state-of-the-art aquatic facility and regional sports complex. New, master planned residential suburbs are popping up everywhere, which will deliver the population needed to further expand this vibrant city, which is already the fastest growing regional city in Australia.” said Carrick.

“Driven by the ongoing resurgence in tourism and the stabilisation of the economy, confidence within the accommodation sector is noticeably heating up. From private investors and operators through to the larger, they are recognising the supply of well-located quality accommodation assets is extremely limited. As investment fundamentals continue from strength to strength over the recent years, yields in the accommodation sector are rapidly compressing.” Carrick concluded.

For further details about the sale process or to discuss other opportunities, please contact James Carrick on 0498 954 047.

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