If you're keen to get into the hotel and hospitality industry, this is one of the most interesting investments you'll come across. What's more, it will give you a profitable business plus a home, in a great community, for less than the price of a suburban residence.
Featured on the ABC, the Barbed Wire Pub Spalding Hotel houses one of the largest collections of antique barbed wire and associated fencing paraphernalia in Australia. This unique tourist attraction draws both locals and visitors from far and wide.
-Well maintained heritage-style single storey hotel
-Has traded continuously for 140 years
-Only hotel in town, in a prosperous farming region
-Profitable trading results with an expected turnover close to $600,000 in the current financial year
-Many upgrades have been undertaken by the present owner, including air-conditioning, power supply, solar system
-Easy to run single bar with undercover beer garden
-Neatly presented dining room and serviceable kitchen
-9 air-conditioned guest rooms
-Manager’s quarters with 3 bedrooms, lounge, office, bathroom
-Large land holding with grassed areas approved for RV parking
-Heysen Walking and Mawson Cycling Trail go right past front door
The current owner had a long-term plan but an injury has forced him to sell. Running the business alone he spends $1700 per week on wages (casual chef, casual housekeeper, 3 casuals covering bar and food service).
Costs would be dramatically reduced if the hotel was bought by a working couple with food skills. The owner estimates wages would be as low as $400 a week with 2 owner-operators.
There is also potential to increase income by expanding the RV parking sector of the business.
Price: $475,000 ono