MQ & Associates have been exclusively appointed to offer for sale the Leasehold Interest of the Elite Motor Inn, Armidale.
This motel is exceptionally well presented, trading strongly, and complemented by a magnificent residence. The current owner occupies a one-bedroom apartment for personal use; however, this space could readily be converted into an additional guest unit, creating an opportunity to further enhance rental income and lease return.
The landlord has also recently invested more than $30,000 in capital improvements, including extensive plumbing upgrades and the replacement of guest room doors. As one of the newer motel developments in town, the asset offers a high-quality presentation and strong operational performance, which I believe justifies the attractive yield on offer.
- Lease term - 14 years (expires 2040)
- Rent $164,896 (excl GST) 14 rooms
- 1,281m² land size (approx.)
- Covered BBQ area
- Guest laundry
- 3-bedroom residence
MQ ID 1P3156
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