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Nambour Motel Sold for $2.14 Million
An established motel investment at Nambour on the Sunshine Coast has been sold by Ray White Commercial Noosa & Sunshine Coast North for $2.14 million.
The Nambour Heights Motel at 4 Nambour Mapleton Road, Nambour, was sold in an off market transaction to a local investor by Christine Freney of Ray White Commercial Noosa & Sunshine Coast North on behalf of a local investor for a yield of 9.4 per cent.
Christine Freney said the four-star rated motel was leased by a highly reputable operator with 23 years left to run on the existing 30 year lease.
“This motel is ideally located across the road from the Nambour Hospital and is adjacent to shops and cafes,” she said.
“The motel has recently been refurbished and is immaculately presented. It has 23 rooms including 15 self-contained units as well as a three bedroom manager’s quarters equipped with a separate commercial kitchen.
“The grounds are well maintained and there is a swimming pool and barbecue facilities while there is abundant car parking on site.”
Christine Freney said the motel enjoys a strong tourist trade and regular repeat business.
The RWC Noosa & Sunshine Coast commercial property consultant is known for developing strong relationships and outcomes that benefit all parties.
The Sunshine Coast maintains a tight grip on its office space, boasting a 5% vacancy rate, the bright spark in an otherwise gloomy national office market.