153 Princes Highway, Narooma, NSW 2546
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Major South Coast Motel, Restaurant & Conference Centre
153 PRINCES HIGHWAY, NAROOMA NSW 2546 MAJOR MOTEL, RESTAURANT & CONFERENCE CENTRE
This property is the most substantial complex of its kind on the NSW south coast.
Located on the Princes Highway in the centre of Narooma, 4 hours south of Sydney, it covers 3 street frontages and 7152 sqm.
It comprises 6 major buildings and was renovated and refitted in a multi-million dollar 2 ½ year program ending in July 2018.
The major restaurant services both the complex and the region generally and includes 2 conference rooms, commercial laundry and storage.
The 3 major accommodation buildings now comprise 19 one and two bedroom self-contained suites with their own bathrooms, kitchens and laundries.
In addition there are 2 other freestanding conference buildings each with toilet amenities and 4 staff ensuite bedrooms.
The owners 5 bedroom penthouse with huge entertaining decks crowns the top of the site with ocean views.
Naturally there are multiple service, storage and electrical rooms and sealed parking for all vehicles required by council codes.
On completion the complex was leased for 5+5 years with fixed 5% annual rental increases and all outgoings paid by the tenant yielding a net rent of $5000 pw + gst.
A bonus is the redevelopment potential of the top of the property with ocean views STCA.
This property is being sold due to recent major ill health of the owner, and the first lucky buyer will reap the benefits of his major undertaking.
Viewing is only for genuine cashed up buyers ready to proceed to contract at $5,000,000 + gst