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*** SOLD ***
Mortgagee Sale - Freehold Hotel & Restaurant / Bar
Listing: #18327
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About this Business for sale in Whangarei
Mortgagee Sale - Freehold Hotel & Restaurant / BarFreehold Going Concern for sale under mortgagee terms. Price by negotiation - present all offers! The bank is serious about moving this off its books and will offer up to 60% vendor funding to approved purchasers. Exceptional location near Whangarei Airport. 40 year trading history. 21 Executive rooms + Top notch conference and wedding facility Vie Restaurant & Bar (indoors) Lava Garden Bar (outdoors) Conference facilities with seating for up to 130 people, this is the full package. Ideal opportunity to offer accommodation + food & beverage + venue, which is a rare find in and around the Whangarei region. Huge number of extras such as swimming pool, 2x bars, space for breakfast, lunch and dinner dining, multiple conference spaces (host multiple events at the same time), lush landscaping, a secret waterfall and extensive parking space. Property Details: Flames International Hotel is for sale under instruction from the mortgagee. This freehold going concern is on two titles and includes the following: Accommodation block of 1288 m2. 2 bedroom owners apartment with balcony & garage. On-site laundry + guest laundry. Swimming pool & courtyard area. Restaurant & Lava Bar + Cabana 18 Car Parks Artists impressions of what is possible are available for this property. So many options for further development - ideas include retirement living, international education, health / wellbeing, and more. Draft financials available. Current FY15 sales revenue is tracking 16% higher than in FY14. This property is being sold by the mortgagee under the power of sale and so none of the usual warranties shall apply. Enquire Now for a comprehensive IM & financial information.
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This listing is no longer taking enquiries as it is SOLD
*Profit: Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.