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Wahroonga

FREEHOLD $13,500,000

1424MF - SYDNEY SUBURBAN - EXISTING MOTEL CASHFLOW AND DEVELOPMENT SITE

  • 3,066 m2
  • R2 Low Density Residential under Hornsby Local Environmental Plan.
  • 3.5 self-rated.
  • 37 rooms comprising 16 Doubles, 20 Large and 1 Family room. Four of the large rooms are interconnecting and can be used as family rooms - existing use rights apply to continue to operate.
  • Two storey brick Tudor style construction with tile roof and brick partitions.
  • Fully licensed restaurant with separate bar area. Seating for 80 people.
  • Prime unit development site with holding income and significant upside. The property currently has a strong repeat trade with a consistent year-round business with limited competition in the area.
  • This is a rare quality 3.5 star property in Sydney's affluent Northern Suburbs. Close to Knox Grammar, Abbotsleigh, St Leos and Barker Colleges. Also close to Hornsby Hospital. An exceptional opportunity to purchase a well-positioned motel in the picturesque suburb of Wahroonga. With easy access to the Central Coast, Northern Beaches and Sydney CBD, this location is crying for developers to come in and make what they want.
  • High exposure position that is currently under marketed and a business that could easily be grown with a very significant underlying land component where house sales are over $2.5M each are common and a number of unit sales exceeding $2M are common place.

The area is ripe for new development, but general motel room shortages reinforce the need for short term motel accommodation making a number of options viable for the site.

Net Profit: $632,491 for 2018/19

Contact Michael Philpott from Tourism Brokers for further information or to arrange an inspection.

Property ID: 1424MF (quote when enquiring)

Property Type Business

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Michael Philpott

0433 137 927
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