19 unit Motel and Cabins with 55 seat licensed Restaurant
Business Description
Perhaps the best opportunity in Nova Scotia for a true entrepreneur to acquire a long time successful accomodations business at a fraction of its current Asset value and grow it to the level of profitability similar properties in the market are known to achieve. This updated property provides for 19 extremely clean rental units plus a 55 seat renovated licensed dining facility steps from the world renowned St. Mary's River. Of the 19 rentals, there are 13 clean and well kept motel rooms, 2 efficiency units, 3 cabins, and a 3 bedroom rental home all sitting on a 5.5 acre parcel and located within walking distance of all amenities. The property has excellent appeal for the leisure, sporting, motorcyclists, and educational travelers as well as families wanting to “get away from it all”. There are many area attractions for a wide variety of interests, with untapped potential in numerous segments.
At a quiet location in the community, the property is positioned as a safe, clean, friendly, hospitality service provider with Banking, Liquor, Police, Hospital, Schooling, Grocery, Hardware, etc., are all within minutes of the property. The property is well-equipped for parking cars, trucks & busses. The original building was well constructed by a Navy Commander in the 60’s and an expansion was completed approximately 15 years ago. The property is considered to be in excellent condition for its intended use, is considered to be extremely well built, and is fully equipped with Wireless High Speed Internet, T.V.s, and provides all the amenities and services of a desirable location you would recommend to your friends and family.
Has been managed by one of the two owners, in large part, and therefore management will need to be addressed upon sale.
I Am Interested
Pictures
Click thumbnail to enlarge
General Information
The owners always believed, and have proven to many over their past 30+ years of ownership, that the Sheerbrooke Village Inn is the best choice destination for “valued” accommodations and above average food offerings anywhere in Guysborough County. Given the owners’ age, their current family and living situation, as well as other local business interests, the owners have chosen to operate the business for the past several years only 7 – 8 months per year (April – November). There is a tremendous opportunity for growth in revenues and profitability through strategic and focused marketing efforts as well as an expense reduction framework that could be implemented from day 1 with the right ownership structure at the helm. Because of its location, comfortable and cleanly accomodations, and choice offerings, the Sheerbrooke Village Inn should be a year-round property. Your research to understand the competitive offerings within a 50+ mile radius market place should prove the upside possibilities we believe to exist, which are only limited by business experience.
Financial Information
ü 16% revenue growth from 2006 through to 2010. 3 year average gross revenues of $255,000. (7 months of operations)
ü Approximately 45% of gross revenues generated from Restaurant operations.
ü More than $80,000 spent on improvements in past 5 years. (roofing, flooring, furniture, windows, doors, insulation, paint, etc.)
ü Industry comparables indicate current asset value of this opportunity may be in excess of $900,000, with replacement costs in excess of $1,000,000.
Real Estate / Lease
All assets will be delivered free and clear at sale.
