This Hotel/Tavern property, with tenant (Currently a 9-year remaining lease, plus 21 year renewals in perpetuity) is on the market. It is it is centrally placed in the Middle of Stratford, on Broadway.
The property is a leasehold, consisting of 4 sections, on 3 titles. The owners will consider offers over $250,000 for the rights lease the property and own the buildings. The current tenancy brings in $35870 p.a., after the ground rent has been paid. The investment will provide the Landlord with a 14.3% return on investment.
In the asking price, the owners have taken the needs of a new owner into account. This price allows the new owners to maintain, improve and develop the facilities to their own requirements. The price is well below rated value.
This hotel property consists of 4 adjoining sections, totalling 1625 sq m. The improvements are 680 sqm. There is ample parking for more than 30 cars on the premises.
The hotel amenities include Gaming, TAB, Bars, conference facilities suitable for sporting event celebrations, as well as a beer garden/entertainment area. Accommodation is suitable for different tastes.
The facility provides the townspeople with entertainment and restaurant facilities. The accommodation target market consists of out of towners on business trips, and others wishing to visit the environs and natural trails etc. of the region.
We can arrange a site visit for you.
Feel free to ask questions.
For further information contact Bruce Smit and Eves, Victoria Street, Hamilton
M 021 144 5202 DD 07 903 8030 [email protected]