Accommodation Complex – Freehold – Under Management – 20 Units.

For Sale

·
Snowy Mountains

Business Code: CB1497

$6,900,000
Key Features: Excellent location, with frontage to main road, and only 1.5 km from Cooma CBD.- The business model assures a steady long term income with minimal expenses and labour costs.- The property is managed by a Real Estate Property manager.- Strong demand for accommodation with Snowy Hydro 2 a long term project.- A 6,000 sqm portion of the site, on separate lot, is not utilised, and with an 60m frontage to the main road presents as a possible development project with medium density accommodation.
State: NSW
Suburb: Cooma

1970

Established

Real Estate Agency with Property Managing contract, and tradesmen and labour as required.

Employees

Freehold accommodation complex, formerly operating as a motel, now utilising the accommodation units on long-term lease agreements. The accommodation is presented as a mix of 2 x 3 bedroom detached villas and 7 x 2 bedroom detached villas. A separate two level building houses accommodation consisting of 2 x studio apartments and 7 x 2 bedroom apartments on ground floor, with 2 x 2 bedroom apartments on upper floor. All villas have lock-up garages and hot water is supplied by separate units. A large separate building was previously used as reception and 200 seat restaurant and is now utilised for private use. The site is freehold, in 4 lots, and covers 13930 sqm and has all town services connected, including water and sewerage, with zoning R1 – General Residential. The majority of leases are 1 year.

Features

Excellent location, with frontage to main road, and only 1.5 km from Cooma CBD.- The business model assures a steady long term income with minimal expenses and labour costs.- The property is managed by a Real Estate Property manager.- Strong demand for accommodation with Snowy Hydro 2 a long term project.- A 6,000 sqm portion of the site, on separate lot, is not utilised, and with an 60m frontage to the main road presents as a possible development project with medium density accommodation.

Weekly Summary

Figures exclude GST

Price
$6,900,000
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