Family business put on the market
A POPULAR Far North motel that has been in the same family for 30 years is being offered for sale.
Resort Brokers agent Shane Mullins said the Seaview Motel Cooktown presented an “incredible opportunity for an astute purchaser”.
At 178 Charlotte St, the 42room waterfront motel catering for corporate clients, domestic and international tourists is being offered for sale as a freehold going concern from $4.25 million plus Stock at Value.
“It offers vast views of the coastline and the historic Endeavour River,’’ Mr Mullins said.
“The owners have injected substantial capital towards renovations, maintaining a high standard.
“This is a unique opportunity for an experienced operator to take the business to a new level.”
With an adjusted net profit of $550,000 per annum, Seaview Motel enjoys strong support from government and corporate clients servicing communities in the surrounding district.
Economic drivers of Cooktown, about 320km north of Cairns, include government, agriculture, fishing and roadbased tourism.
Seaview Motel Cooktown.