OFF MARKET

2173 Glenelg Highway
Lake Bolac VIC 3351

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 3070m2
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Property Details for 2173 Glenelg Hwy, Lake Bolac

Building Type
Commercial
Land Size
3070m2
Local Government
Ararat
Lot/Plan
2/TP200482

Last Listing description (August 2019)

CRE Brokers are proud to be Exclusively marketing the sale of the Freehold Going Concern of the Lake Bolac Motel.
The current owner has operated the motel for 4 years and has consistently built the business up over this time.
A genuine offering to the market. This 8 room motel would suit someone looking to enter the accommodation sector or a buyer looking to purchase a motel with high demand and huge scope to add additional rooms to the site (STCA).

Perfectly positioned on the Glenelg Highway the Lake Bolac Motel is the only motel in the vicinity with large towns like Hamilton, Ballarat and Warrnambool being over 100 km away, there is high demand from large corporate clients.
The motel has undergone recent renovations with all rooms now complete and fitted out with new TV's , air conditioners and Pod coffee machines, there is nothing to spend for the incoming owners.
An inspection of this property is highly recommended.

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Property History for 2173 Glenelg Hwy, Lake Bolac, VIC 3351

A timeline of how this property has performed in the market
Last Sold
$350,000
01 Jul 2019
  • 19 Nov 2021
    Listed for Sale FHGC $675,000
  • 01 Jul 2019
    Sold for $350,000
  • 08 May 2019
    Listed for Sale FHGC $549,000
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About Lake Bolac 3351

The size of Lake Bolac is approximately 265.3 square kilometres. It has 1 park covering nearly 0.1% of total area. The population of Lake Bolac in 2011 was 478 people. By 2016 the population was 335 showing a population decline of 29.9% in the area during that time. The predominant age group in Lake Bolac is 50-59 years. Households in Lake Bolac are primarily childless couples and are likely to be repaying under $300 per month on mortgage repayments. In general, people in Lake Bolac work in a managers occupation. In 2011, 75% of the homes in Lake Bolac were owner-occupied compared with 74.7% in 2016.

Lake Bolac has 283 properties.

    There are currently 5 properties listed for sale, and no properties listed for rent in Lake bolac on OnTheHouse. According to CoreLogic's data, 3 properties were sold in the past 12 months in Lake bolac.

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