Golden opportunity to drill into West Coast hospitality
A well-established West Coast hospitality and accommodation business is on the market for sale.
The Reefton Autolodge, also known as Dawsons on Broadway, is located on the main thoroughfare though Reefton and covers a total land area of 2,524 square metres.
The sale includes a public bar and restaurant, gaming room, 16 motel units sleeping a total of 60 people, as well as an onsite manager’s residence and a separate three-bedroom home for the owner.
The Reefton Autolodge is on the market for sale by Bayleys as a freehold going concern, and is being marketed by Bayleys salespeople Peter Harris and Kate Mullins.
Mr Harris said the autolodge was ideally placed to benefit from the continued exploration drilling at the Globe-Progress mine in the Reefton Goldfield.
“It is expected that the mineral exploration and mining will be a long-term project, bringing benefits to both the Reefton township and to the autolodge,” he said.
“Since the project began in 2007, this has brought many workers into the region and many of them have made use of the autolodge’s facilities.”
The autolodge bar and bistro – Dawsons Saloon – contains a large bar area with log fires, solid timber tables and leaners, and West Coast memorabilia adorning the walls. There is a casino room and a separate area with pool tables, a jukebox, and Sky TV.
The bistro seats a total of 45 people and caters for breakfast and dinner on a daily basis. Meanwhile, the 16 motel units are configured as double, single, or twin, with rates starting from $75 a night. Each of the rooms features a television, and tea and coffee making facilities.
Mr Harris said as well as revenue from the sale of liquor, food and accommodation, the autolodge also catered for numerous functions each year including weddings and special occasions.
“The Reefton Autolodge’s trading accounts show a steady annual increase in turnover for the past five years and it is anticipated this trend should continue,” he said.
“The accommodation in particular has been a real growth area, benefitting from an increasing number of tradespeople currently employed in Reefton, and this is likely to continue for the foreseeable future.”
Mr Harris said the autolodge had undergone extensive refurbishment over the years, with the previous owners focusing on maintaining the property to a high standard.
“This is a superb opportunity to purchase a business steeped in character and full of rugged West Coast charm,” he said.
“The Reefton Autolodge has achieved consistently strong profit levels, and which can provide a great lifestyle for its owners.
“This would ideally suit a husband and wife team, or perhaps a family partnership. On the other hand, Reefton Autolodge would also make a superb passive investment opportunity, with the owner enjoying the benefits of a rental return.”
