Welcome Inn 277, Glenunga
Sold
Business Description
This is a rare leasehold motel opportunity. Welcome Inn 277 is situated in a great location, on Glen Osmond Road, some 10 minutes drive from the Adelaide
CBD. This is ideal for a first time motel buyer, being easy to run with no restaurant. Comprising 25 rooms plus a 4 bedroom home, which is currently
leased out to short term motel guests, but could be utilised as a Manager's residence. The same owner has owned this motel for in excess of 10 years.
At a glance:
- Great suburban location & strong profits
- New 20 year lease
- 25 motel rooms
- 4 bedroom stand alone house
David Hutchinson 0414 440 953
Staff Summary
The motel is staffed with cleaning staff only. The vendors man the reception during trading hours. A further saving in staff costs could be achieved if the purchasers did all or some of the cleaning.Lease Summary
| Current Rent | $155,000 per annum + GST (includes rent on the house) |
|---|---|
| Lease Term | 10 years |
| Lease Commencement | Date of Settlement |
| Right of Renewal | 2 x 5 years |
| Outgoings | Paid by tenant |
| Adjustments | CPI annually and to market at the end of the term |
| Bank Guarantee | 3 months’ rent |