84 Westbury RoadSouth Launceston TAS 7249
Property Details for 84 Westbury Rd, South Launceston
Last Listing description (March 2024)
Financially rewarding motel, that has bounced back after Covid with increasing month on month turnover. Occupancy for the next few months is above 83%.
Forward bookings till April 2023 of more than $300,000 (and increasing every day) Overlooking uninterrupted extended views over Launceston and the Tamar valley.
This 40 rooms Motel on five acres of manicured gardens is situated in Launceston city and enroute to Casino, Silverdome and Launceston General Hospital.
Situated a mere 12 minutes drive from Launceston Airport, it also is a convenient stopover for travelers inbound and outbound through Tasmanias northern gateway.
The motel has a strong income stream derived from tourists coupled with a long list of repeat customers, tour groups, school sporting teams and corporate guests.
Variety of room configurations from standard rooms to self-contained apartments. It also has a 3-bedroom manager's residence. Offering an Indoor swimming pool with spa, sauna, kids games room, playground and guest laundry. It also has an onsite laundry and multiple store rooms scattered across the motel.
There is also a fully licensed bar and huge restaurant (80 sittings), currently not trading but can be used as a great opportunity. Huge commercial kitchen has 2 areas which can be used for a general restaurant, and another area has a wood fire oven (Morello Forni) imported from Italy. Offering huge potential to increase revenue by re-opening the restaurant or sub-leasing.
Currently running on 100% management with one owner only overseeing the operations and working 2-3 days in a week. This business would suit anyone wanting to keep the business under management or a family or husband-wife team. This business doesnt require any prior qualification but only passion. Being sold with the security of an extremely long lease of 40 years on a 34% ROI based on 2022 financial year net profit.
Serious money-making motel, with upside to be enjoyed by opening the Restaurant, Bar and Pizza area or simply sub-leasing.
Outstanding business opportunity for someone wanting to enter this industry or a seasoned operator or someone wanting to increase their portfolio and keep it under management, then look no further.
Call Praveen Pant on 0432 256 682 or contact Paul Scott on 0477 771 098 email: pauls@tasbps.com.au/ praveenp@tasbps.com.au
INTENDING PURCHASERS TO MAKE THEIR OWN INVESTIGATIONS AND ENQUIRIES IN RELATION TO THE BUSINESS AND NOT TO RELY UPON WARRANTY OR STATEMENT MADE BY THE VENDOR OR BY ANYONE ON HIS/HER BEHALF.
NOTE: All figures are approximate.
Property Code: 797
Property History for 84 Westbury Rd, South Launceston, TAS 7249
- 11 Jan 2023Listed for Sale Offers Over $995,000
- 07 Mar 2022Listed for Rent - Price not available
- 19 Jan 2006Sold for $1,800,000
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0About South Launceston 7249
The size of South Launceston is approximately 2.8 square kilometres. It has 8 parks covering nearly 5.4% of total area. The population of South Launceston in 2011 was 4,447 people. By 2016 the population was 4,589 showing a population growth of 3.2% in the area during that time. The predominant age group in South Launceston is 20-29 years. Households in South Launceston are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in South Launceston work in a professional occupation. In 2011, 54.1% of the homes in South Launceston were owner-occupied compared with 52.6% in 2016.
South Launceston has 2,419 properties. Over the last 5 years, Houses in South Launceston have seen a 59.12% increase in median value, while Units have seen a 43.78% increase. As at 30 September 2024:
- The median value for Houses in South Launceston is $530,336 while the median value for Units is $359,446.
- Houses have a median rent of $480 while Units have a median rent of $400.
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