Proudly supported by all of the industry's leading brokers
Live and work in a stunning location while earning great income | Resort Brokers ID : FH008456
$3,350,000
Motel (Freehold) hospitality, NORFOLK ISLAND QLD
Located in the heart of Burnt Pine, Norfolks largest town, Castaway Norfolk Island is a Norfolk Island institution, now in its sixth decade.
Comprising 20 modern, stylish rooms and apartments, the resort is set amid landscaped tropical gardens, home to one of the islands largest banyan trees.
Castaway enjoys excellent occupancy witha strong corporate trade that complements its leisure clientele.
Visitation to Norfolk is booming and continues to grow through Norfolk Island Tourisms proactive destination marketing 360 of Wonder campaign.
The business also offers other significant revenue streams independent of occupancy. Castaway Restaurant&Bar, the resorts onsite dining facility, incorporates the award-winning Norfolk Island Brewing, the islands only brewery, which is excise-exempt for beer production. The resort also includes a fully transferable wholesale permit for wine and spirits and a sub-agency for car hire.
For the convenience of theowner, the resort comes with a 3-bed, 1-bath owners residence.
If youve dreamed of living in paradise, this is your ticket at an affordable entry price.
- Immaculately presented 20-room resort in Norfolk’s main town
- Norfolk Island qualifies for 417 working Visa extension, ensuring continued staffing solutions
- Norfolk Island’s only brewery, exempt from excise on brewed beer
- Fully transferable wholesale permit for wine and spirits
- The business is underpinned by a strong leisure, corporate and government trade
- Extensively renovated over the past five years
- Owner’s residence and onsite staff accommodation
- Hire car sub-agency for guests
- Inspection by appointment only
Date updated: 19 Jan 2025 22:00:03
More Information
- Total Purchase Price: $3,350,000
- Net Income: $ 818,792
(actual)
This is the combined total income acheived by the business after expenses, before tax. - Included Real Estate: $ 0
The value of on-title property included with the business. Its price is included in the Total Purchase Price. - Multiplier: undisclosed
This is the approximate number of years the business' revenue would pay for the business component.
Number of units the manager is authorised to manage.
Number of units resided in by their owners.
Number of units owners are not renting out, but also do not live in.
Number of units being rented by other agents (these could potentially be acquired by the manager).
The total number of units within the complex.
This is the body corporate caretaker salary. It is included in the Net Income above.
How long is the caretaking contract.
How long remains on the caretaking contract before it must be renewed?
How long has the management rights existed.
Are there any set office hours stipulated in the contract?
The value of on-title property included with the business. Its price is included in the Total Purchase Price.
Is there a manager's office included on the title?
Can the manager own a pet on site?