Our Ref: 23562

$395,000 PSAV

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LOCATION AND BACKGROUND

Positioned in The Great Southern, Gnowangerup is ideally located within a popular tourist precinct and also acts as a busy service centre for the surrounding rural farming districts. It is approximately 120 kilometres north of the regional centre of Albany, 110 kilometres from the picturesque holiday town of Bremmer Bay and approximately 330 kilometres to the south east of the Perth Metropolitan area. It is a substantial town of approximately 1,400 people with both primary and high school facilities , a district hospital and well developed communal recreational facilities

The Gnowangerup  hotel comprise a two level older style character building constructed in the late 1880’s to early 1900’s which has prime frontage onto the main street of town with generous parking areas available for clients. The business is run entirely under management by a husband wife team . The wife is unwell and so there is limited capacity for them to grow the business. Despite this the business is profitable and currently enjoys an attractive turnover of approximately $800,000 per annum. Historically the business has traded in the range of $ 1.35M pa to $1.45M pa ( 2009 to 2011).  A hands on, motivated owner / operator would be likely to improve both the revenue and the profitability of the business.

PROPERTY FEATURES :

The hotel features the following facilities:

  • Full Tavern Licence
  • Fully equipped restaurant
  • Lounge bar
  • Front bar
  • Games Room area with Pool Tables and Darts
  • Alfresco area
  • Bottle shop
  • 19 hotel rooms with male and female ablution facilities
  • 2 separate self-contained motel blocks
  • Fully equipped laundry
  • Attractive and profitable trade mix over accommodation, food and beverage sales

LEASEHOLD OFFERING

The Seller is offering a new lease of the hotel (business only) on the following basis :

• Initial Term : 10 years
• Options : 1 x 5 year term
• Commencing Rental : $ 50,000 per annum ( plus outgoings )

Terms sought: Asking Price : $85,000 psav as follows:
Goodwill : $ 50,000
Furniture Plant and Equipment: $ 35,000
Stock : $20,000 (estimate only)

Vendor Finance : The Seller is prepared to consider providing Vendor finance to assist a suitable buyer to complete the leasehold transaction.

FREEHOLD OFFERING

Alternatively the Seller is prepared to offering the freehold and business for sale on a walk in walk out basis

Terms sought : Asking price of $ 395,000  plus trading stock as follows :
Land ,buildings and fixtures : $310,000
Goodwill : $50,000
Furniture Plant and Equipment: $35,000
Stock : $20,000 ( estimate only )

Vendor Finance : The Seller is prepared to consider providing Vendor finance to assist a suitable buyer to complete the freehold transaction.

Business Agent

Lance White
0413 734 177
(08) 9480 3277
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