Magnificent Multi Award-winning Resort Complex
Business For Sale 5-13 Scotchtown Road, Smithton, Tasmania 7330
Business Category Resort
$7,000,000
Description
Magnificent Multi Award-winning Resort Complex
Nestled in the heart of Smithton, Tall Timbers Hotel is a unique and picturesque complex that offers a serene and peaceful escape for locals and tourists.
This expansive estate, which spans over 10.73* hectares of lush pasture, lakes and creeks, is home to a range of facilities and amenities, including luxury accommodation, and dining options.
In addition to the 67 rooms and hotel facilities, the hotel offers a range of recreational activities such as 2 tennis courts, a gym, and a leisure centre with indoor heated pool.
Since 2005, the owners embarked on an expansion and renovation program costing over $5m*.
The figures are continuing their upward trajectory, with an increase in hotel occupancy, plus advantageous changes to the gaming legislation in July 2023. Current figures indicate 2024 projected revenue at around $7 million.
The hotel was constructed in 1990 and has been owned by the same family for 34 years.
There is little doubt that this multi award winning acquisition is a trophy asset and is in magnificent condition throughout.
The asking price of offers over $7 million (plus stock) represents a room value of only $128,358 which is well below market for such a quality 4-star property.
*approximate
This expansive estate, which spans over 10.73* hectares of lush pasture, lakes and creeks, is home to a range of facilities and amenities, including luxury accommodation, and dining options.
In addition to the 67 rooms and hotel facilities, the hotel offers a range of recreational activities such as 2 tennis courts, a gym, and a leisure centre with indoor heated pool.
Since 2005, the owners embarked on an expansion and renovation program costing over $5m*.
The figures are continuing their upward trajectory, with an increase in hotel occupancy, plus advantageous changes to the gaming legislation in July 2023. Current figures indicate 2024 projected revenue at around $7 million.
The hotel was constructed in 1990 and has been owned by the same family for 34 years.
There is little doubt that this multi award winning acquisition is a trophy asset and is in magnificent condition throughout.
The asking price of offers over $7 million (plus stock) represents a room value of only $128,358 which is well below market for such a quality 4-star property.
*approximate
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This business is somewhat unique and has no similar competition in this region, category or price bracket.
