Ray Larkin Director Manenti Quinlan & Associates announces the successful sale of Club Motor Inn, Narrabri, having been exclusively appointed by Alan Hayes of Hayes Advisory as Administrator of the Acts of Narrabri Bowling Club Ltd (subject to the company agreement).
Narrabri is located in the heart of the Namoi Valley, approximately six (6) hours drive from Sydney, 568 km northwest of Sydney. The region is a highly regarded agricultural and administrative center which is being transformed into one of the largest gas extraction regions in New South Wales. Plans are also in place to build a large fertilizer plant that makes urea from the by-product of gas extraction.
The Club Motor Inn occupies a large area of 4,413 square meters, in a prominent corner site with the frontage of the Newell Freeway, and includes 30 motel sites, all with private bathrooms and air conditioning, a residence management room with 3 bedrooms, an inground pool, outdoor seating areas, full commercial kitchen, utility room with commercial facilities and as well as 62 solar panels.
The opportunity has been further enhanced by federal and state government approvals of the gas field and domestic rail link, respectively, which are expected to boost the already vibrant economic activity and significantly increase the demand for accommodation in the area. Narrabri region.
The successful purchaser was CMI Property Pty Ltd, a Queensland-based motel investor group led by Mr. David Jackson. The group is involved in several investments in motels on the east coast and operates its properties with a management structure in place.
Mr. Jackson was delighted with the new acquisition, stating that “the quality of the Club Motor Inn, as well as its CBD location is quite rare in the market, which makes it a valuable asset.”
Ray Larkin, Director of Manenti Quinlan & Associates said that “the expression of interest campaign has generated over 48 genuine inquiries with 12 bids to buy the property,” he added, “we are at a time when demand far exceeds offer and we have a number of well-funded companies and qualified buyers ready to transact ”.
The Club Motor Inn sold for $ 4,500,000, reflecting a 13.5% return from tight pre-COVID-19 trading numbers.
Founded in 1982, Manenti Quinlan & Associates (https://www.mq.com.au) is a commercial real estate company specializing in hotels, alcoholic beverages and commercial properties in general. One of the country’s leaders in commercial brokerage, the firm provides real estate appraisals and consulting services in addition to its flagship brokerage services.
To request a sales analysis, please contact one of the sales agents via the contact details below.