Sydney, 11 March 2014- An established 33 room freehold motel is coming to the market in the popular Batemans Bay tourist area.
The Comfort Inn Lincoln Downs is located on the Princes Highway in North Batemans Bay, well positioned on the main highway leading into Batemans Bay.
Sitting on a substantial 10 acre site, the property boasts a range of facilities including conference rooms, gym, swimming pool, tennis courts and an award winning restaurant and bar.
Andrew Jackson from CBRE Hotels and Ray Larkin of Manenti Quinlan & Associates are marketing the property which will be sold by public auction on 8th April, 2014.
Mr Jackson said the motel is being offered for sale as a going concern on a walk-in, walk-out basis with vacant possession.
“This property is ideal for an owner-occupier to move straight into the comfortable three bedroom managers’ residence and implement operational efficiencies to improve both turnover and the bottom line.”
Mr Larkin commented the property is arguably the best quality motel asset in Batemans Bay.
“It is a fabulous property. It has the distinct feel of a country lodge by the sea with a range of quality guest facilities and services that make it popular with both corporates and the leisure markets.”
“What makes it even more appealing is the significant landholding and the fact that there are approvals in place for a 56 residential unit development to provide alternate use value and maximise the return.”
“At the price point of around $3m I think this offers superb value” he said.
The current owners, Sydney based development group Stillkin Pty Limited, have elected to sell to concentrate on interests closer to home.
For Australian/international news or global stories, follow us on Twitter.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.