'DRAGON PHOENIX RESORT & RESTAURANT'

ResortBrokers has been appointed by Receivers and Managers to market, by way of an expressions of interest campaign, the following assets which are offered to the market separately and in one line:

• the freehold going concern and business operations of the Original Dragon & Phoenix Motel at 361-363 Frome Street, Moree NSW 2400 (situated at Lot 21, 22 and 23 on DP1154009);

• the freehold going concern and business operations of the (former) Billabong Motel at 353 Frome Street, Moree NSW 2400 (situated at Lot 100 on DP1080846); and

• Lot 20 (DP1154009) at 332-338 Balo Street, Moree NSW 2400.

Original Dragon & Phoenix Motel occupies a 4,406 sqm* lot and comprises 39 rooms including a two-bedroom manager’s residence, a restaurant and commercial kitchen, function room, and two outdoor artesian thermal baths.

The (former) Billabong Motel occupies a 2,113 sqm* lot and comprises 24 rooms, including a three-bedroom manager’s residence.

Lot 20 (DP1154009) occupies a 2,984 sqm* lot. The building on the lot comprises 34 partially complete apartments in respect of which no final occupation certificate has been issued.**

The property includes two tradable water licences (Water Access License No. WAL20980 and WAL15676) which relate to an artesian bore located on Lot 22 on DP1154009.

An Information Memorandum is available in addition to further information in the Data Room.

* approximate
** Fire safety concerns, among other structural defects, have been identified in the construction