Tassie motel sells at $649,000

A freehold motel in Tasmania has changed hands for $649,000. The vendor was keen to retire, so the selling agents suggested it was priced to sell below value.

Masons Cottages at 5741 Arthur Highway, Taranna, Tas 7180 is a solid brick motel comprising three adjacent titles totalling 2937 square metres. 

The first title has two attached studio apartments, a large shed and two smaller sheds. The second has three cottages and guest BBQ, while the third has the manager’s residence and other amenities.

The property was offered as a going concer and the content of the cottages and studios were offered on a walk-in walk-out basis. 

The manager's residence has three good sized bedrooms, two living areas, a dining area, kitchen, separate walk in pantry, bathroom (with bath and separate shower) and separate toilet. It also contains the office/reception.

The business has been in operation since 1998 and it has been in the hands of the current owners since 2007. Its turnover in 2014/2015 was $126,000 with adjusted profits at $71,000. The business returns around 11% per annum and has good visibility and online reviews, according to the property’s description.

Masons Cottages is located on Tasman Peninsula, just 10km from the famous Port Arthur Penal Settlement. It has easy access to Hobart, being 70km by road from the Hobart Airport and 86 km by road from the CBD. 

There are several bushwalks in the nearby area, from easy to quite difficult, including one of Tasmania's best-known bush walks to Cape Huay.

The property was sold by Alex Omran of National Brokers.