Located at 400-402 Sandgate Road, the motel has been offered to the market with the adjoining 776sq m western side allotment at a combined listed price of $3,665,000.

Exclusive marketing agents Robert Dunne and Leon Alaban of Savills said that they have already fielded a considerable amount of interest.

“The market seems to be particularly interested in the potential value-add component to the offering,” Mr Dunne said.

The 463sq m accommodation complex is positioned on a 1,102sq m site, incorporating 16 guest rooms split over two levels, a manager’s office, a self-contained two bedroom manager residence, reception and laundry.

Additional motel facilities include an in-ground pool, barbecue area and undercroft car parking for approximately 17 vehicles.

“Council had previously approved an application for an additional 15 motel rooms on the neighbouring land, lending itself to a potential motel expansion or future development opportunity,” Mr Dunne said.

The property currently produces a gross income of $420,000 and after outgoings including land tax has a net income of $252,433 per annum.

The parcel of vacant land is separately titled and is zoned Low-Medium Density Residential Area LMR.

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