The Ten Dollar Town Motel & Larsen’s Restaurant is an outstanding hospitality offering comprising robust cash flow, excellent occupancy levels and high margin trade. The venue is an ideal bolt-on acquisition for private investors and existing portfolio owners given its simplistic operating structure and ease of management.

The venue is offered for sale on behalf of Trevor Morgan and Di Burcham, who are private owner operators and are looking to move onto other business ventures. Substantial CAPEX has been spent on the asset in which it has been completely revitalised from its near dormant state.

Underpinning the opportunity is a 39-key motel complex with a separate café building which both encompass a total landholding of 5,851sqm. Included in the key count are two newly refurbished independent flats which were fully restored in December 2023. The business enjoys outstanding performance metrics with 2023 boasting 92%+ occupancy. Patronage predominantly comprises of an equal split between tourists, commercial clients and general motel trade.

The Ten Dollar Town Motel & Larsen’s Restaurant is being sold by JLL Hotels brokers Greg Jeloudev and Edward Browne, with Mr Jeloudev noting; “Motel assets continue to be keenly sought due to their high replacement costs, ease of management and excellent profitability. The Ten Dollar Town Motel is no exception, with its outstanding occupancy rate and geographical positioning set to draw interest from astute investors.”

There is substantial upside to be realised within the motel with the site having formal DA approval to build a further 7 ensuited accommodation rooms. There is also scope to activate a fully functioning dormant commercial kitchen within the motel building, as well as aligning the asset to a branded hospitality chain to enable loyalty synergies. Demand for accommodation continues to remain strong, with the prospect of longer-term contract bookings being sought-after by proximal infrastructure project operators.

Positioned in the 19th Century gold rush Town of Gulgong, the Ten Dollar Town Motel is set to continue to benefit from local infrastructure development and tourism expenditure. Being a short 23-minute drive from Mudgee, the area boasts excellent local industry drivers comprising of agriculture, mining and renewable energy production. The population of the greater Mudgee area is predicted to increase as a result of the construction of over 20 new renewable energy projects. The area is also popular with tourists, with locally produced food and wine being highly regarded by consumers. Furthermore, residential real estate expansion is set to continue with new land lots expected to be released in the short term.

The Ten Dollar Town Motel is offered for sale via Expressions of Interest (EOI) closing Wednesday 13th of March 2024 (if not sold prior). To receive a copy of the Information Memorandum, due diligence information or to request an inspection, all interested parties are encouraged to contact the exclusively appointed JLL agents.

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