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Strategic Investment with Options

Picton, 33-35 Devon Street

Price by Negotiation over $2,500,000 Plus GST (if any)

Listing Number: PX7779
About this listing
Perfectly positioned with exposure to a main arterial route, this high profile property with 3 road frontages on 4 separate titles consists of a 19 unit motel complex (studio, 1 & 2 bedroom units, family units & a king apartment) situated on 3287sqm including spacious Managers Residence (4 bedrooms, 2 bathrooms), a separately titled 2 bedroom brick home on 1037sqm currently tenanted, a 1022sqm section, plus 13 storage/boatsheds on 1019sqm tenanted individually, a total of 6365 m2.This property occupies a strong position, situated on the fringe of the CBD only a short stroll from the retail heart and hub of Picton, and close proximity to SH1 and the ferries. The well-established AAA Marlin Motel enjoys strong repeat and new business and with a definite opportunity to add value, this property is a must see for the active investor/developer. The site itself would suit a range of uses and offers huge branding opportunity with its 3 road frontages.
Redevelop/Hold/Add Value/Own & Occupy. Astute investors will realise the potential and act now. Call me to discuss this opportunity.
Property Information
  • Business description: 3,287m2(33 Devon), 1037m2(35 Devon), 1022m2(32 York), 1019m2(34 York)
  • Business Name: Marlin Motor Lodge (Picton) Limited
  • Property Type: Tourism / Motel / Hotel, Other (House, Section, Section with Sheds)
  • Listing price details
    • Other $: Land & Buildings Neg over $1,949,750.00 plus GST (if any)
    • Intangible assets $: 278000
    • Total (plus GST if applicable) $: 550,250.00 plus GST (if any)
    • Tangible assets $: 272000
    • Stock $: 250.00
  • Other comments: 8x Studio Units 5x 2 Bedroom units 5x 1 Bedroom units 1x 1 Bedroom Apartment Guest Laundry Boatsheds 13x sheds - various sizes - currently tenanted Second residence - red brick 2 bedroom home - large living & carport on 1037m2 - currently tenanted Office Mangers House - 4 Bedroom, master with ensuite, large living & private outdoor living Schedule A - Building Details available on request Schedule B - Chattels List available on request

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