The leasehold of the number one motel in Moree in Northern NSW is for sale through Savills Hotels.
The leasehold of the number one motel in Moree, in Northern NSW is for sale through Savills Hotels, on behalf of TAMT Pty Ltd ATF Trinity Spa Trust, at a time when Australian tourism is up 11.5 percent to 7.4 million International visitors, for the year ending 30 June 2016.
Located at 2 Webb Avenue, Moree, the Artesian Spa Motel sits on 2.08 hectares and comprises 46 suites ranging from 3 to 4 stars in standard and a one bedroom plus study managers residence. There are 72 car parking spaces, three swimming pools, two of which are artesian and heated as well as the town’s leading licensed restaurant and bar.
The motel offers a high level of occupancy and immediate strong cash flow and the Landlord Croad Superannuation Fund has committed to an upgrade program which is presently underway and should be complete over the next 12 months to further enhance the property.
According to Nic Simarro, Senior Sales Executive Hotels at Savills Australia, “The Artesian Spa Motel is the number one choice for accommodation in Moree benefiting from two artesian pools and a top restaurant. The price guide for the leasehold is $2 million and we believe the property will be sold to a domestic investor.”
Artesian Spa Motel is ideally located on the fringe of Moree in close proximity to schools, the airport and the hospital which is one of the many reasons this property has a stronger trade, occupancy and income than any of the other motels in Moree.
There is potential for growth in ADR with CAPEX plan and the motel boasts an experienced staff and management platform.
With a population of 9,346 (2011) Moree is a major agriculture centre, noted for its part in the Australian cotton-growing industry which was established there in the early 1960’s.
Moree is well serviced by transport as it lies at the junction of the Newell and Gwydir Highway and the Sydney XPT rail service stops at the town’s railway station. In addition, the Moree airport allows corporate guests to fly in and out four times a day with Qantas Link.
In addition to Moree being an Agricultural Hub, the town is a connecting town for services from Melbourne through to Albury, Wagga Wagga, Dubbo, and Toowoomba and beyond generating strong accommodation demand. Brisbane is a five hour drive.