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Posted by Knight Frank on 03/04/2019 in Business+Property

Fully Refurbished Accommodation Complex

$4,750,000 -


Located in the beautiful rural township of New Norfolk, 32 kilometres north-west of Hobart. This large motel complex was originally built in 1961 as the nurses quarters for the Royal Derwent Hospital.

From 2013 to 2016 the property was totally refitted and refurbished to provide a new large 3.5 star facility, which is fast becoming the number 1 accommodation provider in the whole of the Derwent Valley.

Includes 64 motel rooms, reception and office, lift foyer, breakfast/dining room, lobby, guest lounge, gymnasium, billiard room, guest laundry, manager’s residence and plenty of on-site parking.

Also included in the sale is an adjoining undeveloped building which was formerly the recreation centre for the nurses and comprises of a large dining room, private dining area, 3 conference rooms, a commercial kitchen, a basketball court, a 300 seat  cinema, a large fully equipped gymnasium and swimming pool courtyard.

This is a huge amount of real estate for the price and has outstanding potential to develop further into a real showpiece for New Norfolk.

The whole complex comprises of 2 titles on a land area of 1.593 ha (approx).

The motel opened in October 2016 and the property has HUGE  POTENTIAL for bars, food trade, functions, conferences, weddings, meetings, and the possibility to open up the recreation areas for a variety of uses.

It is no secret that tourism is booming in Tasmania, particularly in Hobart. There are currently 1.3 million visitors per annum and the State is on target to achieve the Tourism Tasmania goal of 1.5 million visitors by the year 2020. The Hobart Airport runway is being extended so as to handle larger planes and create new direct flights for the Asian market, particularly the Chinese sector.

Acquisition represents a room value of only $74,219 - plus it includes a large recreation centre for further development.

Hospitality Supplier Knight Frank
Knight Frank
Contact John Blacklow
Ad Type For Sale
Type of Opportunity Business+Property
Category Accommodation
Asking Price $4,750,000 -

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