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Commercial, For Sale, Property, Hotel Accommodation, Olary, South Australia

EMAIL TO A FRIEND
Olary SA
$289,000

The Olary Hotel

THE OLARY HOTEL The Historic Olary Hotel is up for sale. With a new 15 year lease in place the asking price represents a sound longterm investmentof 95% return on investment. Situated in the heart of South Australias outback and with tourism and mining booming, the hotel offers a great lifestyle and a great opportunity to enter into the Hotel and Hospitality Industry at an affordable price. The award winning Olary Hotel is situated right on the Barrier Highway, which is a main interstate connection between SA and NSW. This is a very busy highway so there are plenty of thirsty and hungry customers passing right past the front doors day and night. The hotel recently underwent a rigorous and thorough renovation. This project took six years but the results speak for themselves. The Olary Hotel now has the best facilities along the highw
THE OLARY HOTEL

The Historic Olary Hotel is up for sale. With a new 15 year lease in place the asking price represents a sound longterm investmentof 95% return on investment. Situated in the heart of South Australias outback and with tourism and mining booming, the hotel offers a great lifestyle and a great opportunity to enter into the Hotel and Hospitality Industry at an affordable price.

The award winning Olary Hotel is situated right on the Barrier Highway, which is a main interstate connection between SA and NSW. This is a very busy highway so there are plenty of thirsty and hungry customers passing right past the front doors day and night. The hotel recently underwent a rigorous and thorough renovation. This project took six years but the results speak for themselves. The Olary Hotel now has the best facilities along the highway making it the premier place to stop and refresh with a cool drink, some nice food and a friendly atmosphere. There are two double and six single rooms for accommodation at the rear of the premises and two large rooms under the main roof for accommodation.

The hotel is situated on three allotments so there is room to extend the accommodation as the mining industry expands in the immediate area. There is also a large stone cottage on the site. This building is in very good condition for its age and with a bit of work would make a great self contained managers home or overnight motel type accommodation. Recently, Bimbowrie Station was proclaimed as a National Park. Bimbowrie located only a half hours drive North from Olary has a very diverse array of native Fauna and Flora and attracts many government employees and recreational visitors as well as university students from all over the country studying the unique rock formations located at Old Boolcomatta where Sir Douglas Mawson spent much of his time.

Olary once noted as the Goat centre of SA is also frequented by recreational hunters from all over SA and further a field. With the mining industry booming in South Australia, and the Olary area rich in mineral deposits the Olary Hotel is situated right in the heart of it all and does well from the industry and its work force. There are two operational uranium mines, a gold mine ready to commence, a felspar mine, all within close proximity to the hotel.

There are many other mining operations and activities underway at Olary which all use the hotel facilities. With Telstra, railway workers, road maintenance crews, shearing teams, locals, station workers and the passing trade all frequenting Olary, the hotel is right in the centre of it all. An Oasis.

The hotel has undergone wiring and plumbing upgrades, has new boundary fences with lock up yard. The roof has been replaced and there are new front and back verandas. All toilets and bathrooms are new and very modern. The main building has new floor coverings to the bar, lounge, office and dining areas.

After spending nine years leasing the hotel and then purchasing the freehold in 2000 it is time to move on. I am looking to sell the freehold. The asking price is $289.000 and considering the amount spent on renovations and the restoration of the building, the asking price is not unreasonable. As mentioned, a long lease is now in place making The Olary Hotel an even better investment opportunity. Please bear in mind banks and lending institutions will not lend to purchase country hotels located in the outback of SA. You will need to be able to come up with the purchase money or yourself otherwise you are wasting your own time and mine.

SOME VENDOR FINANCE MAY BE AVAILABLE TO THE RIGHT PERSON Feel free to contact me to discuss the possibilities. The Olary Hotel awaits you, are you ready for the challenge?

0403077538

Property Detail

Property ID:

10382

Type:

Commercial

240
Address:

Olary SA

Contact The Owner

Owen
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