Development Site with operational Motel

South Coast - New South Wales

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20,000sqm, 49 Unit DA in place, Highway Frontage. Must sell, all offers considered.

Well located 20 room motel on 5 acres facing the main Princes Highway at the Northern entrance to Nowra.

There is development approval in place for a staged development of 49, a mix of 1, 2 & 3 bedroom serviced apartments.

Redevelopment:
- DA approved
- Serviced apartments OR possible conversion to SEPP5 retirement units
- Land size is 20,127sqm ($82/sqm @ $1.65m)
- A sworn valuation dated November 2005 for $1,900,000 is available to interested parties.
- The motel can continue operating while the various stages are completed.
- Plans and costings are available to interested parties.
- Conference & Function room approval with seating for up to 120, breakout rooms, commercial kitchen and licensed bar.
- The complex has approval for a public Theatre/Restaurant. Approval is also in place for an indoor complex housing a heated pool, plunge pool, sauna and games room

Motel Business:
- Taking around $250k a year
- Good condition and well presented
- Room to expand (STCA) if you wish