Blue Chip Investment

20-22 Castlereagh Highway, Cullen Bullen, 2790, NSW

This property really is ripe for the picking. Being a deceased estate the owners instructions are to...Read More

Auction Information

SOLD

Sold to Bidder #


$ 390,000.00*

Auction Schedule

  • Auction Ended 7 years ago
  • Starts (AEDT) Tue, 23/10/2012 11:00 AM
  • Ends (AEDT) Thu, 01/11/2012 11:00 AM
David Scholes

David Scholes

License No.:238350

Auctioneer In Charge

agency details

Raine & Horne Commercial Parramatta | Parramatta, 2150, NSW

Parramatta, 2150, NSW

Raine & Horne Commercial Parramatta | Mitchell Woods

Mitchell Woods

  • 0438633314
  • (02) 9633 3100
Raine & Horne Commercial Parramatta | John Surian

John Surian

  • 0418230063
  • (02) 9633 3100

Blue Chip Investment

20-22 Castlereagh Highway, Cullen Bullen, 2790, NSW

    This property really is ripe for the picking. Being a deceased estate the owners instructions are to sell, sell, sell.

    High net returns available, lessee covers all outgoings, property maintenance and repair expenses making this the ideal, hassle free, secure, investment.

    Located just out of Lithgow in Cullen Bullen sits 1461 sqm of land under. The majority of which is under lease to the Royal Hotel Cullen Bullen on a 10 year lease that has 7 years to run. The land is improved by the hotel that trades as the Royal Hotel Cullen Bullen which includes accommodation for 10 rooms, the main bar, bistro rooms, kithing + other inventory.

    The property is opposite Cullen Bullen Public School in the heart of this resource rich area of NSW.

    Aside from the natural benefits the local mines and power station give this hotel it has been a staple in the area for over a century. In addition to this the investment comes with a vacant parcel of land that is a corner block suitable for a residential dwelling, or community hall STCA.

    With lease expiry not until June 2019 your returns are not only guaranteed but will grow every year with CPI increases but guaranteed with personal property of the guarantors.

    The Hotel was recently upgraded at the commencement of the lease by the current owners with bathroom and bar renovations, tap upgrades to beers lines and plumbing plus a new cool room installation worth several hundred thousand.

    The lease is water tight and involves absolutely no responsibility on the owner to pay any outgoings or maintenance to any part of the property or equipment within.

    This is a deceased estate and owners instructions are to sell with more than realistic hopes offering well above an 8% return.

    The current net rent is $36,703.96 per annum + GST and depending on your loan structure will most likely be a positively geared investment.

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    Other Details

    • Site Area : 1461

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