A family-run motel in the western metropolitan area of Melbourne has been listed for sale, with price expectations tipped greater than $5 million.
The Sunshine Motor Inn is currently operated by father and son team, John and David Swain, who have decided after more than two decades under the family’s helm, to sell the expansive holding together with the strong performing business.
Located at 608 Ballarat Road, Ardeer, the Sunshine Motor Inn comprises 44 3.5 star ensuite motel rooms and has been a popular resting place for workers and passing truck drivers who frequent the area together with tourists. The 44 rooms were modernised approximately three years ago.
CBRE Hotels’ Scott Callow and Joseph Du Rieu have been appointed to handle the sale on behalf of the Swain family, with the public Expression of Interest campaign set to close in September.
The property also has a two-bedroom manager’s residence, swimming pool, public bar, ‘Blazed Bar & Grill’ restaurant, a modern commercial kitchen with wood fired pizza oven and an extensive bitumen sealed car park.
Mr Callow said the asset benefitted from the high exposure Ballarat Road location, which generated significant ‘drive by’ business.
“Given the motel operates in a segment of the accommodation market that has limited competition due to the location, we expect the sale to attract strong levels of demand from local and international owner operators,” Mr Callow said.
“The continued low interest rate environment has made it attractive for local owner operators to secure freehold and businesses where possible.
“We are seeing an environment that could be considered a perfect storm with low local interest rates and a falling Australian dollar making foreign investment more attractive and therefore driving competition for accommodation assets in Melbourne and Australia as a whole.”
