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Hotel Accommodation

Plainsman Motel, Forbes

22 Sherriff Street, Forbes, NSW

Hotel Accommodation

Plainsman Motel, Forbes

22 Sherriff Street, Forbes, NSW

Expression of Interest |
Closing: 26 May 2022, 5PM

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Key investment highlights include:

  • Significant regional room volume – A rare 41 room ground level asset of various room configurations, catering for a strategic mix of clientele ranging from budget to deluxe renovated suites.

  • Prominent highway location – positioned on the Newell Highway, at the mapped halfway points between Victoria and Queensland. 100km* and 150km* from the major regional centres of Orange and Dubbo respectively.

  • Strong cash flow business – the property has shown consistent income over long periods, particularly within the midst of the CV-19 restricted travel periods. Limited competition of this scale within proximity. Recent normal trading income of $28,000*per week in accommodation.

  • Viable revenue upside – with a range of options (bar, restaurant & conference) available to an incoming investor in order to further capitalize upon the location and current domestic tourism resurgence for further revenue enhancement. Budgeted accommodation income (inclusive of CV-19 affected trading periods) for FY 2021/22 is $1,020,000* with expected occupancy of 60 to 65%*.

  • Currently run under management – an easily managed ground floor motel operation. With long term managers willing to continue. Current asset owners residing remotely from town.

  • Well maintained asset – the property presents in good condition with no immediate Capex requirements. Though, the incoming purchaser would certainly benefit from a continuation of room refurbishments.

  • Substantial freehold site – the property sits upon a 5,053 square metre site, with a total lettable area of 1,562 sqm. Directly adjacent the popular Forbes Services Club: and one block from the centre of town and other quality amenities.

  • Opportunity to tenant – the property has previously and successfully operated as a leased interest (2016 to 2020). An option to lease post sale exists.

Closing

26 May, 2022 at 5PM

Agent Details

Nic Simarro

Accommodation

Nic Simarro

Director

Accommodation

James Carrick

Director

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