APOLLO MOTEL – PARKES – NSW
Description: Parkes is a lovely town on the Newell Highway which is mid-way between Melbourne and Brisbane and the Gold Coast.
Star Standard: 3.5 star.
Construction: The property is in very good condition. 14 units with a fifteenth used during busy periods. Single story concrete block construction with Cliplok roof and concrete block partitions. Recently renovated rooms are comfortable and cosy with a variation of unit sizes including 3 family units. Outside has been painted completely within the last two years
Residence: 3 bedrooms 2 bathrooms (one en-suite), large lounge/dining, Very good family residence – joins reception. Single level. There is also a private courtyard.
Land Area: 5,000 sqm approx. There is ample parking for large trucks or caravans. This area is also a potential site for additional units.
Tariffs: Single $99 – $125; Double $105- $135; Family $160- $200; Extra Person $15
Laundry: Full commercial equipment. All linen owned and done onsite. 2 changes.
Commercial Kitchen: Current owner does not do cooked breakfasts. Continental provided on request. Kitchen is well equipped so a new owner would have the ability to provide hot breakfast.
Services: Room service, gas BBQ, split system air-conditioning, ample parking, in-ground salt pool.
Turnover: 18/19 $231,797; 17/18 $230,183; $124,828 Six months December 2016 to July 2017
ROI: 15% approx.
Occupancy: 40% approx.
NOTE: Parkes is in the midst of a revolution. It has been well known as the freight hub of the Central West with Linfox and SCT having major terminals and Pacific National currently constructing a four-siding terminal. In addition, there is a major pet food manufacturer building a new factory on the outskirts.
Parkes has also been chosen by the State Government to be NSW first Special Activation Precinct with millions of dollars expected to be spent over the next few years.
Northparkes copper and gold Mines are only 15 minutes out of town and employ approx. 350 people and are also experiencing a growth period. CleanTeq Sunrise is also a new mine at Fifield west of town and have great prospects mining cobalt and nickel.
The Inland Rail project has also began linking Melbourne and Toowoomba and Brisbane and this has attracted a huge amount if investment from the Federal Government.
Parkes Shire is a go ahead place with facilities such as 4 supermarkets, Big W and Target. REX airlines have 3 flights per day in and out during the week with only slightly reduced services on weekends. Parkes also has The DISH a major tourist attraction all year around and in January 25,000 visitors turn up for the Elvis festival.
The motels situation on the Newell Highway makes it ideal to attract passing trade with many travelers looking to break their journeys from North and South. It is also only 100 metres away from the Parkes Visitors Centre and the Parkes Museums.
This is a golden opportunity for a savvy operator to get in on the ground floor of the Parkes Revolution.
|R&H Suburb Summary||Houses|
|Number of sales||259|
|Median Rental Price||$320 p.w.|
|Change in Rental Rate (5yr)||17 %|
|R&H Suburb Summary||Units|
|Number of sales||9|
|Median Rental Price||$205 p.w.|
|Change in Rental Rate (5yr)||2 %|