Plainsman Motel, Forbes

• 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