The Mulgrave Motel delivers a rare metropolitan Melbourne leasehold opportunity featuring 26 refurbished keys with 28 years remaining on a secure lease term.
Strategically positioned between Princess Highway and Springvale Road with exposure to approximately 100,000 vehicles daily, this turnkey operation generates a 20% return on investment whilst maintaining steady occupancy and increasing average daily rates.
Comprehensive renovations including all bathrooms, premium AH Beard Executive Supreme beds throughout, and fresh finishes ensure no immediate capital expenditure is required, whilst a 39.6kW solar system with battery storage substantially reduces ongoing utility costs.
Unlike competitor properties heavily dependent on online travel agencies, OTA commissions represent only 31.7% of total bookings, preserving profitability and operational control.
The business benefits from diverse revenue streams including corporate clients, government contracts, healthcare visitation and leisure travellers, supported by the highest guest satisfaction ratings in the area at 8.5/10 on Booking.com.
Additional income is generated through three coin-operated washers and dryers independent of room occupancy. With five consecutive five-year lease options, full staffing in place, and significant growth potential through healthcare precinct partnerships and enhanced marketing initiatives, this represents an exceptional metropolitan business combining security, performance and upside.
Contact Resort Brokers today to arrange a confidential inspection and review the comprehensive financial documentation.
Interested? Why not give Chris Boschetti a call on 0428 812 434 or chrisb@resortbrokers.com.au
