* Included in Asking Price
62 Unit Hotel, addition and full renovated in 2014. NOI has been in excess of $1.2M. The seller is open to a sale of shares, should the purchaser wish. Currently there is a full management staff in place and restaurant has recently been leased.
This Hotel is located in an important commercial district of Northern British Columbia. The clientele is primarily corporate / commercial with an increasing tourism client. The property is servicing all levels of government, teachers, healthcare, and executives from rail, mining, and lumber.
There is room for expansion inside current building envelope. (Possible owners quarters, additional rooms, weight room, meeting room, retail space, etc.)
Recent announcements of two very important projects are already in the first steps of being started. A new hospital as well as the TransCanada Coastal Gas Link.
This property is managed by hired staff. The owners are not involved in the daily operations.
Full overview is available to qualified buyers after NDA is signed.
* In order to move forward with this deal, a minimum equity of $2,400,000 is required.
During the last project that came to town, finished mid 2017, the property enjoyed NOI in excess of $1.2M per year.
Leased Restaurant - $7/k per month.
Room Sales for the 12 months Ending March 31
Trailing 12 months - $1.6M. Expectation is for growth.
2018 - $1.517M
2017 - $2.077M
2016 - $2.048M
2015 - $1.693M
Minimum Equity Required
The 3 storey, 35,400 sft, property is situated on a +or- 1.6 acre parcel of land
Guest rooms: 62
Food and Beverage Facilities: A restaurant and lounge with seating for 90+
Meeting Space: none, however, there are two spaces that can be developed into meeting space, guest laundry, or owner quarters, 1000 sft and 2200 sft respectively.
Additional Facilities: vending area
Parking Spaces: + or - 80
There property is serviced with Town sewer and water.
Seller Reference #1126
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